Should couples have a joint bank account?

To have, or not to have a joint bank account? This is a question all married couples face sooner or later, but the answer is not always so clear-cut. We take to the streets to get people’s thoughts on this potentially tricky decision.

A joint bank account is useful for managing one's household finances and for emergency uses, but it won’t make someone more financially responsible. I think you need to trust your partner because either of you can take the money.

Yeung Mun Kiu, 60 Homemaker

I think a joint account is a necessity for couples. If one partner passes away, the other person can still access the account and use it to support himself or herself. I also don’t think a joint bank account will lead to arguments or conflicts. Couples will be mature enough at my age.

Tan Moy Ngo, 67 Retiree

I think couples should have a joint bank account. With a joint bank account, at least they will know what the other party has in their balance and they can plan for their future. It’s not perfect, but it’s good.

Subbramaniyam, 48 Security supervisor

It depends on individual couples. I have one with my husband so we don’t have to keep asking each other for money to make various household payments. For some couples, there might be a possibility of one party overspending or conflicts arising from it. But as long as there is trust, it will be fine.

Sarah Lam, 33 Freelance designer

Yes, couples should get a joint bank account after they get married. It’ll help them better manage the household finances and they will be more responsible finance-wise as both partners have a role to play.

Mohan Das, 37 F&B manager

I think it depends on the individual. For myself, I don’t find anything good about joint accounts as the privileges aren’t as attractive as individual accounts. I would rather have an individual bank account, even if it’s for mutual spending.

Dave Leow, 40 Pawnshop valuer

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