Can someone transfer money from a join account?

Answer by  flamiss22 (5081)

Anyone's name on a joint account is able to tranfer money. Even if you close the account the other liable party has the right to have it reopened. Also one party does not have the right to ask the bankt to block access unless it is under a court order.

Answer by  tamarawilhite (17883)

Either individual on a joint account can transfer money from the account. Furthermore, any company authorized to deduct fees, charges, or bills from the account can remove the amount specified in the bill in an "electronic fund transfer". The company name and amount should be sent to you in a bill as well as be included in your bank statement.

Answer by  SashaDarkCloud (5764)

If you are allowed to access funds from your joint account, I can't see why not. Though be prepared for repercussions if your actions aren't wanted by the other party.

Answer by  Latin4 (11170)

If its a joint account either person is allowed to make transaction on the account. But both names have to be on the account. Yours and your spouse or friend.

Answer by  Kurt (4579)

Yes. One of the joint accountholders can transfer money from the joint account. It would be best if that person notify the other accountholder, but the bank will assume the accountholder has the legal right to transfer money out of the account. If someone transferred the money out of your account without your knowledge you should confront them.