Changing single bank account to a joint one

M

Meath Lady

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Hi both myself and my husband each have bank accounts with different banks in one name only.
We would like these accounts to be joint accounts for ease of access when one of us passes. Can these be changed to joint accounts or does one need to open new account jointly. I have no problem providing the relevant documentation required to open a bank account but would just rather change these to joint accounts instead of opening new accounts if that was possible.
 
You can add the 2nd party to the existing sole accounts and complete a joint account mandate at the bank.
 
Thanks palerider. Would this make the other person a proper Joint account holder as opposed to a second signatory on the account.I want to ensure each spouse has automatic entitlement without probate to the other persons account.
 
apart from signing mandate your spouse wl have to call to bank with all the necessaary documentation as if he/she wweer opening an account.
 
Thanks that sounds perfect. will call to the Bank and set it in motion. Thanks for your help. trojan and palerider.
 
I have contacted AIB who have advised that a joint mandate only allows the other person lodge cheques, set up and cancel direct debits, withdraw cash and do general day to day banking. It does not however give them automatic access to your account should you die and it would be necessary to open a new joint account in order to do this. Are you aware if other banks facilitate this. My husband banks with BOI. I didnt really want to open a new account but maybe I will have to.
 
I have changed a single account to a joint account (by adding the name) with BOI in the past without difficulty, apart from the usual ID formalities. But it was several years ago, I suppose, so maybe it is different now.
 
Meath Lady said:
I have contacted AIB who have advised that a joint mandate only allows the other person lodge cheques, set up and cancel direct debits, withdraw cash and do general day to day banking. It does not however give them automatic access to your account should you die and it would be necessary to open a new joint account in order to do this. Are you aware if other banks facilitate this. My husband banks with BOI. I didnt really want to open a new account but maybe I will have to.
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My father banked with PTSB, account was in his sole name. When he became ill a couple of years ago, my mother went to PTSB to ask about changing his account to a joint account. PTSB required them to open a new joint account, they wouldn't add her to his existing account. When he died recently, my mother had full access to the account, and applied to have his name removed from the account.
 
Thanks Early Riser and gipimann. Will contact the other banks to seek there opinions but looks like it will have to be a new account. Gipimann that is the exact reason I want to have the account in joint names because it saves a lot of upset and hassle at a time when people dont need hassle
 
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