How to Cancel a Joint Bank Account & Go Back to a Single Account

A joint bank accounts gives access to the account to multiple people at the same time. This means that anyone listed on the account can withdraw and deposit money from and to the account. However, one account owner cannot have the other account owner's name taken off the account. To make the account a single account, it must be closed and a new account created. Any of the joint account owners can close the account without the other owner's consent.

Things You'll Need

• Identification

Instructions

1. Go to the bank where you have the joint account.

2. Withdraw all of the money from the account. You should only do this once all of the checks you have written on the account have cleared the account. Otherwise, the checks will be denied when presented on the account.

3. Request to have the joint account closed while you are at the bank. You will likely need to sign an account closure document to close the joint account and present identification.

4. Open a new single account while you are at the bank. You can use the money you withdrew from the joint account to fund your new single account.

References

• Bankrate.com; Risks Of Joint Bank Accounts; Roxanne Hawn
• Banking Questions: Can Joint Account Owner Remove Other Name?
• Bankrate.com; Son Can't Flee Bank Checking Account; Don Taylor