19 votes
Accepted

A credit card for the two of us: apply together or get it on my own?

We want to be able to get two cards (related: is it difficult to ask the credit card issuer for two cards, even if the account belongs to one person?) with the best credit limits and perks. No, it's ...
quid's user avatar
  • 49k
13 votes

A credit card for the two of us: apply together or get it on my own?

Since your credit score is much better than hers, you should apply for the credit card yourself alone to get the best chance of approval for your card of choice. Once you have the card, you can add ...
Ben Miller's user avatar
  • 116k
13 votes

Depositing a check with both wife's and my name into my sole account

While I don't have a canonical answer to this question, I can share a couple of similar experiences. I've had this happen a few times whenever we vacate an apartment after the completion of our lease, ...
nikhil's user avatar
  • 479
12 votes
Accepted

Why doesn't the UK allow paying income tax as a couple, like the USA?

There's an absolutely fascinating history of independent taxation in the UK in this 1995 House of Commons research paper "Tax and Marriage". Some choice extracts below. Certainly income tax in the ...
timday's user avatar
  • 3,992
7 votes

Can putting someone else as an authorized user on my credit cards hurt my credit score?

I think your question is about making someone else an authorized user on your credit card to help their credit score, but not giving them a physical card. Right? The other person would still be an ...
Zach Lipton's user avatar
  • 1,097
7 votes
Accepted

Should a joint credit card be cancelled upon the death of the person named on the card?

I can't speak for the UK banks specifically, but in the US, oftentimes the name field is not a required field for verification purposes. So, it's possible that the charge did not even include the name ...
TTT's user avatar
  • 47.2k
7 votes

A credit card for the two of us: apply together or get it on my own?

Is it difficult to ask the credit card issuer for two cards, even if the account belongs to one person? You can most definitely get two cards for one account. People do it all the time. You just have ...
Michael's user avatar
  • 10.2k
6 votes

Depositing a check with both wife's and my name into my sole account

Absolute worst case is that the bank notices this and puts a fraud alert on your account and locks it until you get it sorted. Although, the chance of this is essentially zero since no reasonable ...
Nosjack's user avatar
  • 8,697
5 votes

Can a check made out to 2 people be deposited into a non joint account?

The answer is: It depends... How has the check been made out? Three possible variations: Either party: Pay to the order of Mr. John Doe OR Mrs. Jane Doe Both parties: Pay to the order of Mr. ...
CactusCake's user avatar
  • 3,463
4 votes

writing check on joint account

If it is a joint account then you would have completed a signature card for the bank, which authorizes you to use the account as if it were your own. Many times, with joint accounts, the bank will ...
Daniel Anderson's user avatar
4 votes

Legal right to ask for someone bank records UK

You might want to head on over to https://law.stackexchange.com/ and ask the same question. However from a personal finance perspective this kind of drama is somewhat common when someone is ...
Pete B.'s user avatar
  • 76.5k
4 votes

joint savings account requiring three signatures

That would not be automatic. If the Account requires ALL [or Survivors] for withdrawal, upon death of one of the Signatories, there would some paperwork [death certificate, etc] that needs to be ...
Dheer's user avatar
  • 57.1k
4 votes
Accepted

Does "community property" apply to day-to-day finances or only during a divorce?

From an article that discusses this issue: The law doesn't get involved unless and until you divorce. ... As far as the financial institution is concerned, your husband has no right to the money ...
nanoman's user avatar
  • 29.7k
3 votes

Why doesn't the UK allow paying income tax as a couple, like the USA?

It doesn't help in your specific case, but there is a limited ability to do this via the Marriage Allowance. From the link: You can benefit from Marriage Allowance if all the following apply: you’re ...
JustAnotherCoder's user avatar
3 votes

What are the financial implications of merging my wife's bank and investment accounts with mine?

I'm also aware that if we decide to divorce ... joint accounts could pose problems. Washington is a Community Property state, so all the increases (through contributions, dividends/interest, capital ...
RonJohn's user avatar
  • 50.7k
3 votes

Should a joint credit card be cancelled upon the death of the person named on the card?

(The following is based on my understanding, from my own experience of what my bank has told me. I assume it's true, but I haven't bothered to research it.) In the UK, there is no such thing as a "...
AndyT's user avatar
  • 821
2 votes

FBAR - Filer is Principal Joint Owner

"Principal Joint Owner" means the principal person with whom you share the account, not the owner who has the "most control" over the account. If the account has 2 joint owners (including yourself), ...
TainToTain's user avatar
2 votes

Can putting someone else as an authorized user on my credit cards hurt my credit score?

The real problem with your scheme is that the other person isn't going to get much of a bump to their credit score and depending on how the card issuer reports (or doesn't report) authorized users, ...
JohnFx's user avatar
  • 53k
2 votes

Joint Account Signatories

This is best answered by your Bank. Generally if it is not specifically mentioned "any two"; all signatories need to sign. Some rules from Arab Bank.
Dheer's user avatar
  • 57.1k
2 votes

How much risk is a debit card, if stolen?

I'm concerned that someone may steal the card and charge something, causing the balance to go negative for 'x' dollars, where 'x' may be many thousands. Call your bank. I had a situation a number ...
quid's user avatar
  • 49k
2 votes
Accepted

What are the financial implications of merging my wife's bank and investment accounts with mine?

That's a lot of questions, I'll try to answer the ones I can, but it's not possible to answer the one about capital gains without knowing your legal and tax jurisdiction. Inheritance - yes you ...
T. M.'s user avatar
  • 1,523
2 votes

Modeling joint expenses in gnucash

Well, the way to do it is to represent how your partner is paying for shared expenses and running one or two reports. Scenario 1: Ideally you would make one joint checking bank account (without ...
r0berts's user avatar
  • 173
2 votes

Different types of ownership in Vanguard mutual fund

Joint tenancy with right of survivorship means that if one of the joint owners (tenants) passes away, the other (surviving) joint owner becomes the sole owner of the property. With three or more ...
Dilip Sarwate's user avatar
1 vote

Joint bank account, give money to son/executor without gift tax implications

In a typical joint account (with right of survivorship), one owner's SSN is shown in the bank records and that owner gets the 1099-INT Form (if any), declares the interest on his income tax return etc....
Dilip Sarwate's user avatar
1 vote

Change in a joint account

You need to check with the Bank to determine if the account is "Either - or- survivor" which means that either party can make any change to the account. If the account was created with one ...
kabZX's user avatar
  • 163
1 vote

Does "community property" apply to day-to-day finances or only during a divorce?

Turn the situation around: if all these accounts were in your name, you'd have no expectation that your wife could walk into the bank -- or the company that you own 40% of -- show her marriage ...
RonJohn's user avatar
  • 50.7k
1 vote

Does "community property" apply to day-to-day finances or only during a divorce?

Based on your scenario in the comments, you will likely not be able to access your wife's assets asserting a community property right. The bank will insist that your spouse agree to any transfer of ...
pboss3010's user avatar
  • 2,096
1 vote
Accepted

Tax implications of adding a LPR spouse as a joint account holder

Your understanding is not completely correct. Property acquired during the course of the marriage is community property regardless of who is the owner of the account but property that belonged to you ...
Dilip Sarwate's user avatar

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