Can you switch a joint bank account? - Be Clever With Your Cash

Joint bank accounts are very useful if you have shared finances with someone else, but how easy is it to switch a joint account to a new provider?

As banks favour new customers, and often pay them just for switching, there’s usually not much point in remaining loyal to one provider.

However, there are a few things to think about before making the switch, so you’re not missing out on any switching perks.

In this article

1 Am I allowed to switch a joint bank account?

2 Types of joint bank account switches

3 What do you need to switch a joint bank account?

4 How to switch a joint bank account

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

Am I allowed to switch a joint bank account?

Yes, you can switch a joint bank account and it’s a good idea if the new account has better rates, benefits, or a welcome cash bonus thrown in.

Banks are forever trying to lure in new customers and one way they do this by giving cash bonuses to new customers (we round-up the best bank account switching deals here). Although this shouldn’t be the main reason for switching, it is a nice perk.

So if you have a joint account with a partner or a friend, and you’re not getting much back from it, it could be time to switch. The switching process is straightforward and can usually be done automatically via the Current Account Switch Service (CASS).

You can switch a joint bank account to a new joint bank account but when you do this, you’ll only receive one new customer bonus (as only one new account is being set up).

Types of joint bank account switches

There are several different things you can do when it comes to switching a joint account, and the way you do it matters because in some situations you’ll only receive one welcome bonus from the new bank – instead of two.

Joint account to joint account

If you have a joint account already set up and you want to move it, you can switch the whole thing over. The new account might be more competitive or have benefits which are better for you, such as cashback or rewards or a linked savings account with a higher interest rate, for example. If you do this, you’ll only receive one welcome bonus (usually a one-off amount of cash) as you’re only technically switching one account.

Sole to joint account

You and your friend (or partner) or whoever you want to open a joint bank account with could switch two sole accounts, in each individual’s name, over to a joint account with a different bank. If you do this, you’ll both usually receive the welcome bonus.

Joint to sole account

It’s not possible to switch a joint account to a solo account unless one person has been removed from the account first. You also can’t usually use the CASS system for switching automatically when you do it this way around either.

Featured investing offer

eToro Free £50 in fractional shares

Customer rating 3.8/5

Offer
free £50 in fractional shares*
Annual fee
£0
Investment styles
Shares, funds or ready-made portfolios
Minimum deposit
$50

Invest in a general investment account or stocks and shares ISA (additional fees apply)

FSCS Protected? Yes
Interest on uninvested cash 3% on balances up to $50,000, 3.8% on balances over this
Fractional shares Yes
Foreign exchange fee 0.7%
Fund fees If you invest in funds, you'll have to pay fund fees, which cost on average ~0.16% per year, with additional market-spread effects up to 0.05%
Offer You need to sign up, verify your account and deposit at least £200 to get the free assets. ISA deposits aren't included in the £200 requirement to get the offer.
Authorised and regulated by the Financial Conduct Authority Yes, FRN 583263
Risk warning The value of your investments may go up or down. Your capital is at risk. ISA powered by Moneyfarm. ISA rules apply. UK residents only.
Accounts available General investment account, stocks and shares ISA (additional fees apply)

View Deal

What do you need to switch a joint bank account?

When you switch a joint bank account, you’ll need to give information about both account holders and both people will also need to give their consent that they are happy for the account to be set up. They will also usually need:

Names and addresses
Details of your previous bank accounts including debit card numbers
Proof of ID such as a passport or driving licence
Proof of income (if the account asks for it, this can happen if it’s a premium account which requires a minimum level of income)
Details of your overdraft if you have one on your previous account

How to switch a joint bank account

It’s usually a simple process to switch a joint account, and most banks follow these steps:

Choose a joint bank account (we have a list of the best joint bank accounts)
Apply for the new account and give all the details required, including the agreement of both account holders
The CASS system will automatically switch the old accounts over including all direct debits and standing orders within seven working days (if not you can claim compensation)
When the new account is open you can start using it