A joint deposit account is especially useful for couples and in situations where there is shared ownership and expenses involved.
When it’s a joint account, this can help reduce the questions, confusion and sometimes awkward conversations around who’s paying for what – and more importantly, if it’s been paid yet.
Just as a joint chequing account is intended for managing every day expenses, such as rent, mortgage and utilities, a joint savings account can be useful for individuals who would like to set aside money for shared goals.
By having a shared savings account, you can contribute to it and watch it grow together, making that renovation, vacation, or even down payment on a home that much more achievable.
