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What is the difference between either or survivor and anyone single or survivor?
Wiki User
∙ 11y ago
Either or Survivor
This is the most common type of joint account and is applicable between any two individuals. For example, if a husband and wife have a joint account with 'either or Survivor' clause, either of them can operate the account and in the case of the death of one of the depositors, the other can continue or the final balance in the account along with all interests (as applicable at the time of closure) will be paid to the survivor. If there is a nominee for the account, the conditions will be the same and the nominee gets access to the funds on the death of both the account holders.
Anyone or Survivor
This type of account is normally held when more than two individuals start an account jointly. Here, any of the depositors can operate the account at a time and in case if any of the depositors expire, the others can continue the account and if required, the final balance along with interest will be paid to any of the survivor/s as requested.
Wiki User
∙ 11y ago
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