answersLogoWhite

0

It's like cosigning a loan. It puts you at partial responsibility for the account.

User Avatar

Wiki User

15y ago

What else can I help you with?

Related Questions

What do you mean by savings income?

I think what they mean is interest income earnt from having money saved in a savings account.


What does savings account mean?

Generally a savings account pays interest, and a checking (current) account doesn't. Also, a savings account cannot be overdrawn, but with permission, it is possible to overdraw a checking (current) account. The previous person is correct, a savings account simply lets you save your money and make a little bit at the same time. With a savings account it is a little harder to spend it since they are not typically tied to a checkbook.


Can you change a savings account to joint account?

You may be able to add someone to your savings account ..contact the bank where you have the savings account for details


What do you mean by saving?

I think what they mean is interest income earnt from having money saved in a savings account.


Is there a monthly service charge to have an Eggs Savings account?

No, the Egg savings account called "Egg Savings Account (internet) Issue 2" does not have a monthly service charge. This type of savings account is accessible online.


Where can you put your money in?

A bank account, savings account, or family trust fund are a few options, it depends what you mean when you say 'in'.


What is a compound interest savings account?

Its where your savings account earns interest on the interest.


What does a CD savings account do for me?

A CD savings account might earn money for you. This type of savings account earns interest for the person who purchases the CD.


Why open an savings account?

A savings account is a good place to keep money safe for future needs.


What is a savings account at a credits union?

A savings account at a credit union is generally called a share account.


What makes a savings than a checking account account a better investment?

A savings account earns interest.


What's one difference between a checking account and a savings account?

savings account earns interest.