You would need to make right the bad checks that were written. Theres no other way around it. If you were also on the acct you would both be held responsible.
The person authorized to write checks on an account is called the account holder or account operating customer. He/she is the only person authorized to write checks on that account. Nobody else can do so. (In case of a joint account, all holders of the account can write checks)
Typically no. A regular joint checking account just allows two people to have access. Either person can write checks, use a debit card, withdraw money, etc.
Yes. As a joint owner of the account you have as much right to the account as the other joint owner.
No. Actually, it depends on how the account is titled. If it is a Joint OR account, than yes, one person or the other can close it without the other. If it is a Joint AND account than both need to be present to close the account.
If the account is "Joint Tennants in Common" then all of the joint owners must be present to close that account/write checks/withdraw fund. Most banks do not offer Joint Tennants in Common, but offer "Joint With Rights of Survivorship" this means that only on owner must be present to close the account.
A joint bank account is just like any account. You can withdraw money by all means like ATM, Checks, Withdrawal through withdrawal slips in the bank etc. however, the only difference is the fact that either of the account holders of the joint account can do this and one party cannot restrict the other parties involved in the joint holding of the account from withdrawing funds from the account.
No. They can only go after the assets of the person that is being sued. If you have a joint account with that person that is part of the other person's assets. Any account that is just in your name is safe as you are not the person being sued.
You may be able to add someone as a joint owner of the account, which would allow them to access the account (make withdrawals, write checks, use online banking, have a debit card, etc) but you can still order checks with only your name on it. However, bank officials will still be able to see the joint owner's name on the account - it just wouldn't be on the checks. Ask your bank if they allow this.
Yes, a member can add anyone, age 18 or older, as a joint owner to his/her account. As long as the joint individual is eligible for a checking account through the credit union or bank. This person has total access to do transactions on only the specific account they are joint on.
Yes. Think of a properly formed joint bank account as an account that each person owns in its entirety. If one dies their interest in the account disappears and the survivor is the sole owner.
Yes, it is possible for the bank to close the joint checking account if one account holder's name appears on Chex Systems for account abuse, even if the abuse occurred before the account was established. The bank may consider this as a risk and take action to protect its interests. It is advised to contact the bank directly for clarification and to understand their specific policies in such situations.
no