Open Joint Bank Account in UAE

Shared access, easy management, and customized banking solutions for you and your partner.

Functioning like a regular bank account, a joint bank account is where 2 or more people share a current or a savings account. Such a bank account is suitable for couples, business partners, and family members. 


Features of Joint Bank Accounts

Check out the key features of joint bank accounts-

  • A joint bank account can have two or more co-owners, sharing equal ownership and access to the bank account. The co-owners could be business partners, spouses, or family members.
  • Most joint bank accounts provide survivorship rights. So if one of the account holders passes away, the other one becomes the sole owner of the joint bank account. 
  • Account statements and transaction records are sent to all the co-owners. This ensures the utmost transparency and accountability. 
  • This type of account is suitable for those sharing expenses like mortgage payments, utility bills, and childcare costs. 
  • You can easily access online and offline banking services with a joint account in UAE. 
  • You can also apply for joint credit products like credit cards and loans. 
  • All co-owners have equal rights to manage the funds in the account, be it by depositing or withdrawing money from the joint bank account. 

Advantages of Joint Bank Accounts

Listed below are the benefits of opening joint bank accounts in the UAE-

  • Convenience: One of the major benefits of a joint bank account is convenience. Instead of going for multiple accounts for each individual, you can have just one account for payments and withdrawals, whenever required. 
  • Smooth Funds Management: With a joint bank account, it’s pretty easy to manage your finances. You can collectively manage the money and even save for a common goal. You can use the money for joint payments including paying utility bills or divide expenses whenever required. 
  • Increased Savings: When 2 or more individuals save together towards a common goal, the savings naturally increase. You can even use the account to save for family vacations, children’s education, and weddings. 
  • Facilitates Decision-Making: As joint account holders, the co-owners can learn to make collaborative decisions about savings, bill payments, investments, and more. 
  • Better Financial Planning: Account holders can improve their financial planning by opening joint bank accounts. They can easily track their expenses and plan on saving better. This is helpful not only for spouses but also for business partners to plan their business finances. 

How Does a Joint Bank Account Work?

So far, we’ve understood that a joint bank account is a co-owned bank account. It can be owned by two or more individuals who can access their funds whenever required. 

Let’s now understand how does a joint bank account work-

  • Types of Joint Bank Accounts: 
    • Savings accounts
    • Current accounts
    • Fixed deposit accounts and more 
  • Account Holders: Two or more individuals can open joint bank account UAE. All the co-owners have equal rights and access to the funds in the bank account. The account holders could be family members, spouses, or business partners. 
  • Fund Access: All the account holders/co-owners can access the funds and manage them at their convenience, whether by making deposits, withdrawals, payments, and more. 
  • Credit Liabilities: All the account holders are equally responsible for all the liabilities. Simply put, if one account user ends up overspending or gets trapped in a debt, other account holders would be financially obligated to repay.
  • Account Statements and Reporting: Banks usually provide account statements and records of the conducted transactions to all the account holders. This ensures transparency and helps monitor the account’s activity. 
  • Account Closure: All the account holders need to consent when it comes to closing the joint account. If one of the account holders wants to remove their name from the account, they need all the account holders’ consent.

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How to Open Joint Bank Account in UAE?

You can effortlessly open a joint bank account via Policybazaar UAE. 

This third-party aggregator is your one-stop portal for all your banking and insurance requirements. Through our site, you can consider opening a joint bank account with any of the top financial institutions in the country. 

To begin with-

  • Visit
  • Click on the ‘Bank Accounts’ tab under the ‘Banking Products’ section. 
  • Choose the type of joint bank account that you want to open — Savings or Current.
  • Once selected, fill out the lead form. 
  • You will get directed to the bank account quotes page.
  • Select an option from the best bank for joint account UAE (as per your requirements) and click on the ‘Apply Now’ tab. 

So what are you waiting for?

Apply Now


Who Can Open a Joint Bank Account in the UAE?

Individuals in these categories can consider opening a joint bank account:

  • Couples who need to manage their money together to share expenses and save for common goals.
  • Business partners
  • Adults with elderly parents
  • Parents managing money for their kids’ future

Conditions that Come with Joint Bank Account

While you can enjoy plenty of benefits by opening joint bank accounts, you should be aware of the conditions that could come in the way of operating a joint bank account. 

Some common conditions:

  • Potential overdrafts that could lead to increased financial liabilities over time for all the account holders
  • Having a joint bank account in case of a breakup or divorce can make things complicated. It can become difficult to remove the person as a joint owner of the account while avoiding any arguments. 
  • All the account holders are liable for the credit trap one of the account holders gets into.


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