How to cancel an overdraft on a joint account?

O

onekeano

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A friend of mine has a joint account with their partner. They are living separately, though not legally separated. My friend has paid off an overdraft but now want to ensure it doesn't run up again (ideally they would like to close the account) but the bank insist that to reduce the overdraft facility (or get rid of it) the other partner has to sign.

There must be some way that a person can remove themselves from a potential liability run up by a joint account holder?

Any advice would be much appreciated.

Roy
 
He should immediately write to the bank informing them that he is no longer a party to this account and wishes to close it. He should also state that the OD facility on the account should be cancelled with immediate effect. This letter should be sent with recorded delivery. OD will take time to be cancelled to allow for any items written but not yet presented.
 
Paying it off whilst the other party has scope to access it again probably wasn't wise.

Maybe withdraw the funds again and link the clearing of the overdraft to its cancellation?
 
Thnak you guys this is very helpful and I'll mention that to them................
 
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