Ending joint account

Antrim_Man

Me and my wife, soon to be ex have a joint bank account with Ulster bank.

Does anyone know how to change this to one person, do you go into the branch for example

GerardKeating

Or just close it and open new open ???

homer911

Or run the balance down to zero and abandon it?

Seriously though, I would expect that removing an account holder would launch you into the full AML process again anyway, so probably simpler just to open a new account

murphaph

Fess will continue to be charged on the "abandoned" joint account, It should be closed or one party should be released from it, if the bank allows that. If closing it, then consider a bank that makes it possible to avail of free banking (PTSB, possibly EBS).

Sadly the latest reports are showing that switching remains at very low levels, so the banks profit from people's inertia. Don't let them!

Toots

You'll need to close that account and open a new account on your own. Back in the day you used to be able to just remove the name of one party but that's not done anymore. Better to open a new one anyway so you have a completely clean slate.

Antrim_Man

The thing is the mortgage is coming out of this account and loads of other direct debit.

Stheno

Antrim_Man wrote: »

The thing is the mortgage is coming out of this account and loads of other direct debit.

use the switcher process to open another account and transfer them?

surpy

if you have jointly held mortgage and jointly held bills then probably best to leave this account open until all other accounts and issues are sorted.
whatever split you have agreed in terms of costs, you should both be lodging that into this account rather than into the others account.
unless your providers allow you each to pay separately which is handy, but you will both be in arrears if the other stops paying and you wont know until its too late.

my advice, from experience, as each service is transferred to one person, they change the account that its paid from.
when eveything is done, close the joint account

mine was reasonably amicable
dont leave the joint account open (or other services in joint names) past the amicable point, as you will have to get signatures from your ex to close it and that might not be as easy in 3 years time

Antrim_Man

Thanks for the suggestions folks. Will post the outcome once I know.

PurplePoodle

About a year and a half ago I removed myself from a joint account held with my ex in Ulster Bank. I just went into the branch and they gave me a form to fill out, we both signed it and I was removed from the account after about a week.

Unless their processes have changed since then, it should be possible.

unclebill98

Removing a name from an account is easy. You will need to get the form signed by both parties and send it back in.

Antrim_Man

Thanks guys, sounds simple enough. Will go into the branch next week.