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Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 33700
Experience:  15 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
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If 2 people have a joint banking checking account, what is

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If 2 people have a joint banking checking account, what is needed so that 1 of the signers can remove himself from the account?
Thank you
Hello,
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This would depend on the bank and their internal policies and regulations regarding removing a joint owner. Some lenders will allow a joint owner to simply visit the local branch, provide identification and then sign a request to remove their name from the account. The bank will then update their records and remove the person's name.
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However, some banks require that the entire account be closed in order to remove someone. For example, Wells Fargo's website states that the only way to remove a name from its accounts is to close the account entirely. Many banks have similar policies.
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So literally it depends on the bank and their particular policy. State and federal banking laws don't control this type of administrative action.
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Thanks.

Barrister

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If you need further help, just reply to me via the “REPLY” or “CONTINUE CONVERSATION” button.

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I am trying to help you understand and resolve your situation but I don't make the laws, so the outcome may not be what you had hoped for.

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Please be patient as I am typically working with several customers at any given time.

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I am not entering into an attorney client relationship, this is a public forum, and all posts are available for public viewing. There is no duty of confidentiality that attaches to any posts. The information provided is not a substitute for a local attorney’s legal advice.



Customer: replied 4 years ago.

The bank in question is Chase Bank. I was told by 2 Chase banks in Arizona that in order to delete a signer off a joint checking account both parties must be present. If not there must be a death certificate shown. The bank in Dallas


just went ahead and took the name off. Of course that is after the account was cleaned out. Plus, $275 bank fees, all in 3 days. The bank also never notified me of this change. I found out when a check bounced, and I got the shock of my life.


Chase Bank in Dallas denied wrong doing at first, but then admitted it. They


also would not send me a copy of the sign-off papers so that I could see the signature.


I'm pushing 80 years of age, and don't need this stress.


 

That must be Chase's internal policy then. But in a joint account situation, either party can withdraw all the money if they want to because they both have equal access to it.
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With that said, if the person did this and caused you these damages, you could file suit against them for the bank fees that you were charged because of their actions if the bank wouldn't reverse them. You may also be able to sue the bank if they breached their own policy of requiring both parties to be there under a breach of contract action.
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I would suggest talking with the bank and telling them that you wanted a copy of the policy for removing a joint account holder and once you had it, threaten to file suit for breach of contract if they didn't reverse the $275.
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But that is the danger of having a joint account with another person. They can go in at any time and spend all the money.
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Thanks.

Barrister

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▼ RATING REQUIRED! Please don't forget to rate my service "OK" or higher. It is only then that I receive credit for my work.

.

If you need further help, just reply to me via the “REPLY” or “CONTINUE CONVERSATION” button.

.

I am trying to help you understand and resolve your situation but I don't make the laws, so the outcome may not be what you had hoped for.

.
Please be patient as I am typically working with several customers at any given time.

.

I am not entering into an attorney client relationship, this is a public forum, and all posts are available for public viewing. There is no duty of confidentiality that attaches to any posts. The information provided is not a substitute for a local attorney’s legal advice.

Customer: replied 4 years ago.

One last question. Is chase bank required to send me a copy of the sign-off papers if I requested them? After all how do I know who signed the papers?

Not at this point. If you filed suit against them, you could subpoena them during the "discovery" portion of the lawsuit and they would have to provide them.
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Thanks.

Barrister

.

▼ RATING REQUIRED! Please don't forget to rate my service "OK" or higher. It is only then that I receive credit for my work.

.

If you need further help, just reply to me via the “REPLY” or “CONTINUE CONVERSATION” button.

.

I am trying to help you understand and resolve your situation but I don't make the laws, so the outcome may not be what you had hoped for.

.
Please be patient as I am typically working with several customers at any given time.

.

I am not entering into an attorney client relationship, this is a public forum, and all posts are available for public viewing. There is no duty of confidentiality that attaches to any posts. The information provided is not a substitute for a local attorney’s legal advice.

Customer: replied 4 years ago.

Thank you. You have been of great help.

You are very welcome.
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Glad I could help.
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Thanks.

Barrister

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▼ RATING REQUIRED! Please don't forget to rate my service "OK" or higher. It is only then that I receive credit for my work.

.

If you need further help, just reply to me via the “REPLY” or “CONTINUE CONVERSATION” button.

.

I am trying to help you understand and resolve your situation but I don't make the laws, so the outcome may not be what you had hoped for.

.
Please be patient as I am typically working with several customers at any given time.

.

I am not entering into an attorney client relationship, this is a public forum, and all posts are available for public viewing. There is no duty of confidentiality that attaches to any posts. The information provided is not a substitute for a local attorney’s legal advice.

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