Joint Bank Account Needed?

[spasiba 1]

Hi Everyone,

My partner is from Ukraine and I am a USC.  We got married about 9 months ago, filled/mailed our paperwork together (big thanks to this site for helping us with that), and since then my partner was given a work authorization card along with the permission to travel outside of the US (advance parole).  We are just waiting for our in-person interview.

The question I had was: how necessary is it to have a joint bank account?  We opened one a few months ago, but the bank requires us to have at least $1,500 in the account once my partner turns 24, and we are not in the position to comfortably meet that requirement, so we are planning to close the joint account.

Thanks for any help.

 

K and N

[payxibka 10,045]

2 minutes ago, spasiba said:

Hi Everyone,

My partner is from Ukraine and I am a USC.  We got married about 9 months ago, filled/mailed our paperwork together (big thanks to this site for helping us with that), and since then my partner was given a work authorization card along with the permission to travel outside of the US (advance parole).  We are just waiting for our in-person interview.

The question I had was: how necessary is it to have a joint bank account?  We opened one a few months ago, but the bank requires us to have at least $1,500 in the account once my partner turns 24, and we are not in the position to comfortably meet that requirement, so we are planning to close the joint account.

Thanks for any help.

 

K and N

Find a different bank.  A credit union will require no more than $25, many much less

[Crazy Cat 41,981]

Although maybe not absolutely necessary, I think a joint bank account is a good piece of evidence of co-mingled finances.  I agree with @payxibka.  I would look for another place to open a joint account. 

[Loren Y 2,755]

I second the credit union route. Most of them are owned by the member's, not a big company ( Chase, BOA, Citibank, etc.) and are a lot more friendly. I have accounts with big corporate banks, but I always have, and will keep a credit union in my back pocket for reasons just like this. I can usually get better rates, and more flexibility all around. Some drawbacks may be limited ATM access, and limited access to a branch while traveling abroad, but it isn't too bad around the US because most credit unions allow you to use other credit unions ATM without fees, but definitely open a account at a credit union for the benefits, then feel free to use a Big Corporate as your primary bank. I even have a few Online only bank accounts, but I am not sure if they allow joint accounts as I have never checked, but the interest rates on their online savings accounts are awesome.

Edited May 14, 2018 by Loren Y

[spasiba 1]

Thank you guys, this is very helpful information, I am not good with bank stuff, but I think going to the a good credit union sounds like the best option to me.

[PollyC 119]

I live in Montana, I also looking for a bank which can let me and my husband open a joint bank account in the situation of i don't have a green card / social security number yet. Cos many of the banks must need you to provide your SSN.