How Long Does It Take to Open a Joint Bank Account?

Hannah Baquera
January 7th, 2023 | 7 mins

Ready to merge finances with a partner, roommate, or loved one? Opening a joint bank account can be a simple, pain-free process if you’re properly prepared! Based on who you open a joint bank account with, the process of opening an account can take a few minutes if done online or a few hours if done in person. There are a few things you’ll need to keep in mind when opening a joint bank account to make the process go smoothly.

Applying online v. applying in person

The application process for a joint bank account can look different depending on the institution you’re applying to. Start by referring to the institution’s website to review whether they have an online application process and/or an in-person process. This may help you determine which bank to go with depending on the type of experience you’re looking for. At Zeta, we are an online-only financial institution. Typically, it takes less than 5 minutes to open a joint account with us.

Use the correct documentation

Opening a joint bank account can take just a few seconds with the right documents! You and the person you’re applying for the joint bank account with will need to verify your identity. This can be a government-issued photo ID or even a passport in some instances. Our Zeta Joint Accounts always require this documentation as identity protection so we know that the person applying is actually you (and not someone who’s found some of your identity details). If you by chance submit an application online without the proper docs or with a false name, it can slow down the process or even decline your application. You’d be surprised how often we see folks apply for a joint bank account with false or incomplete information!

Receiving debit cards

Once you’ve opened your online bank account, the next step is to get your debit card setup. At Zeta, we instantly give you access to a virtual card so you can start spending from your account immediately. These can be added to your digital wallet for contactless payments in-store or used online with access to the card info. Simultaneously, we also mail you and your account co-owners a physical debit card, which can take anywhere between 7-10 business days. It’s important to confirm your mailing address when receiving your debit cards, otherwise you might delay how long it takes for you to receive your cards.

When it comes to opening a joint bank account, being prepared will help speed up the process! Make sure to check in with any financial institutions you’re applying with to know their specific onboarding process — this may help you determine which bank to go with.

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1Zeta is a financial technology company, not a bank. Banking services provided by Piermont Bank; Member FDIC. All deposit accounts of the same ownership and/or vesting held at the issuing bank are combined and insured under an FDIC Certificate of $250,000 per depositor. The Zeta Mastercard® Debit Card is issued by Piermont Bank, Member FDIC, pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted.

2Zeta Annual Percentage Yield (APY) is effective as of 05/01/2023, for customers who qualify for VIP status. Minimum amount to open an account is $0.00. Minimum balance to earn the APY is $0.01. Interest rates are as follows: 2.43% APY applies to the entire balance for customers who qualify for VIP status. Interest rates may change after the account is opened. Fees may reduce earnings.