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Banking Checking Accounts

5 Best Banks for Joint Accounts [2025]

Opening a bank account with someone else is a big decision. Here are the top five banks with joint accounts to help you compare features and options.

Christopher Murray
Samantha Hawrylack
By Christopher Murray
and Samantha Hawrylack
Melinda Sineriz, ABFP™
Edited by Melinda Sineriz, ABFP™
Updated March 26, 2025
Fact checked

Joint bank accounts are for partners, parents/children, and even elderly people and a caretaker or loved one. They give each person equal access to the funds and all the account features. Many banks offer joint checking and savings accounts, but you should look for those with the best features and that will help your money grow.

We've researched joint bank accounts from many financial institutions, companies, and platforms to zero in on the best options. From this, we chose Ally, Axos, SoFi®, Capital One, and Chase for our list. These banks and banking platforms stand out from others for providing more helpful joint banking features, perks like high APYs and early access to direct deposits, and more.

For instance, Ally is one of the best options for joint savings because it includes the option to set up savings goals together within your account, and Capital One is unique for providing especially teen-friendly joint checking accounts. Read why we included each option on this list and who each joint bank account is best for.

How we evaluate products

5 best institutions for joint bank accounts

Best banks for joint accounts comparison

Bank Best for Checking APY Monthly fee
Ally Bank Joint savings Up to 0.25% (as of 01/1/25) None
Axos Bank Banking in one place Up to 3.30%1 None
SoFi® Interest on checking and savings 0.50% (as of 01/24/25)2 with direct deposit None3
Capital One Teen joint checking accounts 0.10% (as of 01/11/25) None
Chase In-person banking Interest rates vary depending on your balance and account $0 to $35 per month, depending on the account

Ally Bank

Best for joint savings

Account details:
  • Monthly fee: $0
  • ATM network: 75,000 ATMs
  • Standout feature: Savings buckets for financial goals

Ally makes it easy for couples to set up a joint bank account, whether checking or savings. Joint checking includes benefits like two-day early access to your direct deposit and no monthly fees, as well as:

  • ATM reimbursement: Finding a network ATM isn't always possible, and Ally has your back by reimbursing up to $10 per statement cycle in non-network ATM fees.
  • No overdraft fees: The Ally Bank CoverDraft℠ service covers overdrafts up to $250 (if you qualify).

Where Ally really shines is its joint savings account with an APY of 3.80% (as of 1/8/25) and the features most banks don't offer. My favorite is the savings buckets, which you can create for each financial goal. It allows you to visualize your progress for each goal individually, which can be more motivating for some people.

You also have the option to set up multiple boosters, such as round-ups, recurring transfers, or my favorite, surprise savings, which allows Ally to analyze your account and see what's safe to transfer to savings. Member FDIC.

Pros
  • High APY on savings account balances
  • Organize joint savings goals in separate buckets
  • Round-ups help you save easily
  • No monthly fees on checking or savings accounts
Cons
  • Checking account interest is relatively low
  • No cash deposits

Read our full Ally Bank review

Axos Bank

Best for banking in one place

Account details:
  • Monthly fee: $0
  • ATM network: 91,000 ATMs
  • Standout feature: Unlimited domestic ATM fee reimbursements

Most people assume they can't earn interest on their checking accounts, but Axos Bank says otherwise if you commit to using all their financial services. You can earn up to a 3.30% APY1 on Rewards Checking, but to get it, you must:

  • Set up and receive monthly direct deposits totaling $1,500 or more
  • Use your debit card at least 10 times per month (min $3 per transaction)
  • Maintain a $2,500 average daily balance in an Axos Invest Managed Portfolio per month
  • Maintain a $2,500 average daily balance in Axos Invest Self-Directed Trading per month
  • Use your Axos checking account to make a full monthly Axos consumer loan payment

If you don't check all those boxes, you can still earn up to 1% cash back on your debit card purchases with the Cashback Checking account — up to $2,000 cash back each month. The only qualification requirement is to maintain a $1,500 average daily balance.

The good news is that no matter what checking account you choose, they offer unlimited ATM reimbursements.

A downside is the low 0.61% (as of 01/11/25) APY on the Axos High Yield Savings account. You'd be better off opening a savings account at a bank like Ally for the higher APY while taking advantage of Axos Bank's high-yield checking account. Member FDIC.

Pros
  • Many checking account options
  • High checking account APYs
  • Unlimited domestic ATM fee reimbursements
Cons
  • Low APY on savings
  • Many requirements for each checking account

Visit Axos Bank | Read the full Axos Bank review

SoFi®

Best for interest on checking and saving

Account details:
  • Monthly fee: $03
  • ATM network: 55,000 ATMs
  • Standout feature: Interest on checking and savings accounts

SoFi's banking options are unique because you're signing up for a hybrid savings/checking account. What really stands out, though, is the APY on both checking and savings. Most banks pay interest on one or the other (usually savings), not both. The SoFi account, though, earns up to 3.80% APY on savings and 0.50% (as of 01/24/25) with direct deposit on checking.4

You'll pay no fees to open and maintain the account and can enjoy additional perks like:

  • Potentially getting your paycheck two days early5
  • Overdraft coverage6
  • An up to $300 sign-up bonus when you set up direct deposit4
  • FDIC insurance beyond the standard, allowing insurance on up to $3 million7
Pros
  • High APY on both savings and checking accounts
  • No fees on your account3
  • Overdraft protection available6
Cons
  • No option to open just a checking or just a savings account
  • Must have direct deposit set up to earn the current bonus

Visit SoFi | Read the full SoFi review

Capital One

Best for teen checking accounts

Account details:
  • Monthly fee: $0
  • ATM network: 70,000 ATMs
  • Standout feature: Allows cash deposits despite being an online bank

Capital One made the list of the best joint bank accounts because it has a little bit of everything, making it the perfect overall bank for anyone looking for a mostly mobile experience. With no fees, no balance requirements, and a 3.70%8 APY on its high-yield savings, there's a lot to like.

However, what really stands out is its teen checking account. This is a joint account with your child instead of your spouse. It has all the bells and whistles an adult checking account has and parents get their own log in to monitor teen spending and exercise parental controls, such as locking the card or setting up automatic allowance. Teens get a good handle on how to manage their money, while parents can monitor and help teens learn before they make mistakes.

While parents don't have to have a Capital One account to open a teen checking account, there are many reasons to do so including:

  • 3.70% APY on savings8
  • Large ATM network
  • No monthly fees
  • Overdraft options
  • Free access to Zelle
  • Ability to deposit cash at any CVS or Walgreens

Member FDIC.

Pros
  • High APY on savings balances
  • No fees on all accounts
  • No minimum balance requirements
Cons
  • Limited in-person branches
  • Low checking account APYs

Visit Capital One | Read our full Capital One review

Chase

Best for in-person banking

Account details:
  • Monthly fee: $0 to $35/month, depending on the account
  • ATM network: 15,000 ATMs
  • Standout feature: One-stop shop for all financial services

If online banking makes you feel uncomfortable, Chase offers a hybrid option that offers a robust online banking experience plus access to over 4,700 branches nationwide. The downside is most accounts have fees, but you can get them waived by meeting their requirements. For example, for their most popular checking account, Total Checking, you need either $500 in direct deposits monthly, a $1,500 average daily balance, or a total average daily balance of $5,000 in combined Chase accounts to waive the fee.9 So it's possible to waive the fees, but it requires planning.

Chase also offers several savings accounts, again with fees, but the benefits are minimal. Since savings accounts aren't meant to be used daily, I suggest sticking with an online bank that pays high APYs for your savings accounts, and only using Chase for checking accounts if you need that in-person service.

As far as other banking services, the sky's the limit at Chase. They offer services including:

  • Credit cards
  • Home loans
  • Auto loans
  • Investment services
  • Travel services (for credit card members)

If you're the type of person who likes all their financial services in one place and you want in-person support, Chase is the place for you. Member FDIC.

Pros
  • Many local branches
  • Many checking account options
  • No minimum opening deposit requirements
Cons
  • Most accounts have monthly fees
  • Limited number of fee-free ATMs
  • Low APYs

Visit Chase | Read our Chase Bank review

How to choose the best banks for joint accounts

Choosing the right bank account for joint owners is a big decision. To narrow down your choices, consider the following:

  • Joint financial goals: Discuss with your partner the point of your joint account. For example, if you're saving to buy a house, you likely want a high-yield savings account, but if you're looking to join funds for everyday spending, a joint checking account is better.
  • Account features: Consider what you need in an account and what would be great to have. Think of sign-up bonuses, high APYs, online bill pay, early access to direct deposit, and special savings features.
  • Account fees: Carefully review the fee structure at each bank. Some banks have no monthly fees — and they really mean it. Others hide fees in the fine print. Common fees to consider include minimum balance requirements, transaction fees, ATM fees, and overdraft fees.
  • Future financial needs: Many banks offer other products besides checking and savings accounts. If you anticipate future financial needs, such as applying for a mortgage or getting a joint credit card, check if the bank offers those services.

FAQs

Do you need good credit for a joint bank account?

No, you generally don't need good credit to open a joint bank account. Some banks may run a soft credit pull, and most banks run a ChexSystems report, which is a report based on your past banking information, not your credit history.

What are the benefits of a joint bank account?

Having a joint bank account offers an array of benefits. Namely, it's easier for you and whoever else you're opening the account with to access your money for joint expenses. Other benefits include:

  • Transparency and accountability: With a joint account, all account holders can easily monitor and track their financial transactions. This helps foster a sense of transparency and accountability within the couple or group.
  • Streamlined financial planning: Joint accounts make planning all of your finances a lot easier. All account holders can see the same thing and can work together to set financial goals, track the progress of those goals, and allocate funds toward shared objectives like saving for a vacation, a home, or another long-term financial goal.
  • Emergency preparedness: When emergencies happen, having a joint account can help you access the money you need to cover them. When medical emergencies, car repairs, and other emergencies arise, joint account holders can readily tap into the shared funds to address the situation.

How do you set up a joint bank account?

Setting up a joint account shouldn't be too difficult. The best banks let you sign up online and require each borrower to provide basic personal and financial information. Others require that you go into a physical branch and bring in this financial info.

The process involves choosing the right account, submitting an application online or in person, and waiting for approval. Banks like Capital One and Ally take just minutes to set up a joint account, but others can take longer, especially if you have to visit a branch.

Does Wells Fargo offer joint bank accounts?

Yes, you can open a joint checking account at Wells Fargo. If you like the idea of banking with an institution that offers in-person access, but Chase isn't for you, Wells Fargo is a good alternative. However, note that you need to visit a Wells Fargo branch to open a joint bank account, which is why it didn't quite make our list of the best options.

The list of the best banks for joint accounts isn't exclusive. There are many other options, here are a few that didn't quite make the list, but are worth mentioning:

  • Citi: Citi has thousands of physical branches, but offers a robust online banking experience too. It didn't make our list because its APYs are minimal, as is the case for most brick-and-mortar banks. They also charge monthly service fees on checking and savings unless you meet the minimum balance requirements.
  • Alliant Credit Union: Alliant offers a robust checking and savings account option, but its APY is low, which is why it didn't make the list. However, they do offer up to $20 in non-network ATM fee rebates and you can open up to 19 supplemental savings accounts to track specific goals.

Bottom line

Choosing the best banks for joint bank accounts is a big decision. You have more than one person's opinion to consider and many features to evaluate. But we can confidently recommend Ally, Axos, SoFi®, Capital One, and Chase as good places to start your search.

We suggest comparing joint bank accounts side-by-side and evaluating the features you'd be most likely to use to help you choose the right bank.

Reach Your Savings Goals Faster

SoFi Checking and Savings
5.0
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SoFi Checking and Savings Benefits

  • Earn up to 3.80% APY4and collect up to a $300 cash bonus with direct deposit or $5,000 or more in qualifying deposits2
  • No account, overdraft, or monthly fees3
  • Get your paycheck up to two days early5
  • Access additional FDIC insurance up to $3 million7
Open an account with SoFi here