How to close a joint account

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If you’re thinking about closing a joint account, here’s how the process normally works, what to watch out for, and why many people are choosing alternatives like Cino, which lets you share expenses without merging finances. Unlike a joint bank account, Cino is more like a joint card that takes your share of expenses from your own bank account when you pay.

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How do you normally close a joint bank account?

Closing a joint account is usually straightforward if both account holders agree… but it can get complicated if they don’t.

Here’s what typically happens ⬇️

1️⃣ Make sure the account is clear

Before a bank will close the account, you normally need to:

• Bring the balance to £0
• Clear any overdraft
• Make sure no pending payments are due
• Move Direct Debits and Standing Orders to another account

If there’s debt on the account, it usually has to be paid off before closure.

2️⃣ Both account holders usually have to agree

Most banks require consent from everyone named on the account.
That means:

• You may both need to go into a branch
• Or both speak to the bank
• Or approve the closure in-app (depending on the bank)

If one person refuses or disappears?
The account often can’t be closed.

In some cases, banks may freeze the account so no one can withdraw money until the dispute is resolved — which is stressful if you need access to cash.

3️⃣ Request the closure

Once everything is settled, you normally close the account via:

• Bank app or online banking
• Phone banking
• Visiting a branch

You’ll normally get confirmation once it’s closed.

4️⃣ Your financial link may still remain

This bit surprises people.

Even after closing, you may remain financially associated with the other person on your credit file if you ever shared credit products before. This can sometimes affect credit checks for mortgages, loans, and other applications.

Closing the account doesn’t always end the link straight away — sometimes you need to contact credit reference agencies to remove it.

Why people are rethinking joint accounts

Joint accounts can be useful… but:

• You become financially linked
• Closing them can be admin-heavy
• They can create tension if circumstances change
• There’s risk if trust breaks down
• You’re sharing responsibility, even for mistakes

For many modern couples, housemates and friends, that feels like a big commitment just to pay shared expenses.

Which is where Cino changes things.

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Sharing money shouldn’t mean merging finances — meet Cino

Cino lets you split shared payments automatically without opening a joint account.

Instead of pooling money, Cino uses a shared virtual card that everyone connects their own card to. When you pay with the Cino shared card:

• Everyone is charged their share instantly
• Nobody fronts the full cost
• Nobody has to chase anyone
• Nobody becomes financially linked

It’s perfect for:

• Couples sharing living costs
• Housemates splitting rent and bills
• Friends travelling together
• Anyone who hates IOUs and reimbursements

And if things change… there’s nothing to “close”

This is where Cino is completely different.

If you no longer want to share expenses with someone:

• You simply leave the shared card
• Or delete it from the app

There’s:

• No bank admin
• No disputes with lenders
• No credit file link
• No awkward joint account conversation

You keep your own bank account. They keep theirs. Life moves on.

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Closing a joint account can be done — but it often involves admin, agreement, and emotional baggage. And once you’ve disentangled finances, most people don’t want to go through that again.

Cino gives you the convenience of shared spending without the financial entanglement of a joint account. You stay independent. You stay protected. And everything still gets split — automatically.

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