Coordinate joint accounts6 of 8A joint checking account can be a land mine for overdraft fees if you and your co-account holder don't agree on spending priorities and neglect to keep each other informed about withdrawals. Some couples agree to preset spending limits or choose to stick with separate accounts to avoid conflict."You have to have great communication with the other person or you have to have a system where you are both recording your payments so the other person can see them," Kaplan says.« Back to Financial Regulation. Related Articles:Checking account tipsDebit card rewards surveyAvoid checking feesBank statement anatomyRelated Links:High-Yield Checking Study4 tips to thwart ATM thievesBanking at credit unionsFinancial reform dissected advertisement
A joint checking account can be a land mine for overdraft fees if you and your co-account holder don't agree on spending priorities and neglect to keep each other informed about withdrawals. Some couples agree to preset spending limits or choose to stick with separate accounts to avoid conflict.
"You have to have great communication with the other person or you have to have a system where you are both recording your payments so the other person can see them," Kaplan says.
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