How to Remove Yourself From a Joint Bank Account

Maybe you opened a joint bank account after marriage or when a relationship got serious. Many people have joint accounts with family members or occasionally, roommates. However, if your relationship with that person changes, you may need to remove yourself from the joint account.

Most financial institutions require both parties to agree to the change, considering each person an equal owner entitled to funds within the account. Our guide unpacks the basics to removing yourself from a joint account while minimizing financial fallout.

How to remove yourself from a joint bank account

The process of removing yourself depends on your bank and your relationship with the co-owner. Take these steps to protect yourself and your credit throughout the process.

Contact your bank

Start by calling your bank or checking its website for instructions. Ask whether you can remove the name from your account, what documents you need, and whether the other account holder has to sign a consent form to authorize the change.

In some cases, you may have to close the account altogether. A bank representative can help you better understand your options.

Visit a branch or submit a request in writing

To remove yourself from an account, you’ll usually need to visit a branch in person. That’s because the bank wants to verify your identity before closing out the account. If you can't visit in person, the bank may accept a notarized written request — a document signed in front of a notary public or another official who confirms who you are and witnesses your signature.

When heading to the bank, bring your government-issued photo ID and any documents the bank requests. Keep copies of every form you sign in case you need proof that you started the removal process. And ask the representative how long it takes before the process is finalized.

Open an individual account

Before you remove yourself from the joint account, make sure you have a valid checking or savings account in your name.

If you are going through a divorce or breakup, it's worth considering whether the other person can still access your individual account. Many banks and financial institutions allow either person on a joint account to withdraw money and close the account. If the other person knows your login information and you're concerned about security, changing your password is a first step to protecting your finances.

If you don't have your own checking or savings account, open one — you’ll need your own account for the next step.

Redirect deposits and automatic payments

Make a list of any direct deposits and automatic payments that are linked to your joint bank account. Change your direct deposit information with payroll, and confirm that the process is complete before you remove yourself from the joint account. Otherwise, you risk losing access to your pay.

Also update any automatic payments to the new account so regular deposits keep flowing without interruption.

Monitor the account until you’ve been removed

Keep an eye on the account for unusual activity or fees. You are responsible for any overdraft fees or other charges until you have been removed.

When you might want to leave a joint account

You may also leave a joint account to gain more private or greater control over your money after major life events that include:

• A divorce, separation or breakup
• A child moves out of the house
• Moving into a new home after roommates
• Ending a business partnership

What to know before you remove yourself

Before you remove yourself from a joint bank account, make sure you consider the following:

Outstanding debts or overdraft fees

If you and the other account holder have accumulated overdraft fees or other debts on the account, you are both responsible for it. Working with the other account holder to resolve those debts before removing yourself can smooth the process. Consider speaking with a financial advisor or nonprofit credit counselor if you need guidance specific to your situation.

Whether both parties need to consent

Some banks and credit unions require both parties to consent to any changes to the account, including removing a joint user. If you want to remove yourself from the account and the other person refuses to sign off, you may need a judge's court order to override the consent requirement, especially during divorce proceedings.

How it affects shared bills

If you have to pay shared bills with the other person, you’ll need to come up with a solution for transferring money before removing yourself from the account. Venmo, Zelle, PayPal and Cash App are all free options when linked to a bank account that won't affect your credit score.

Can the other account holder stop you from leaving?

When working through the steps for how to remove yourself from a joint bank account, you could run into a major snag if the institution requires consent from the other party. In situations involving divorce where the other party refuses to provide consent for you to be removed from the account, you may need a court order. A licensed attorney can help you figure out what's right for your specific situation.

In any case, you should stop using the contested account.

Building back after credit damage with Kikoff

When removing yourself from a joint account, you risk missing payments that affect your credit score. Adding positive payment history to your credit profile with tools like Kikoff can help you gain control of your financial future.