Business Terms and Jargon Explained

What is Joint Account

This is where more than one person is named on a bank account. They all own the bank account. The specific arrangements have to be made as to whether payments instruments must have all signatures or only one or two. In most cases each has a signature limit and above that more signatures are needed. This is common both for individuals and companies.

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Term created / updated 2005-07-16 23:12:15

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