How to close a joint bank account

If you and your partner have separated, there will be practical things that need to be done - and this can be difficult at what might be a very upsetting time.

One of the tasks on your to-do list will be to close your joint bank account. This is important, as it means that you’ll each assume full control of your own money.

In this guide, we’ll show you how to close a joint bank account in the UK. We’ll provide you with info on the steps involved and key considerations - although remember that this doesn’t constitute financial advice.

We’ll also show you an alternative way to manage your money - with the multi-currency Wise Account.

Closing a joint bank account: key considerations

Before you close a joint bank account, there are few important things you’ll need to think about:¹

• Act fast. If you’re closing the account because you’ve separated, it’s crucial to move quickly. Otherwise, there’s a chance that your ex-partner may run up debts on the account that you’ll end up being liable for. This can also affect your credit score.
• Who can close the account? Depending on the bank, you may be able to close a joint account yourself. But in some cases, both of you will need to agree in writing.
• Dealing with disputes. If there’s a dispute, the account can be temporarily frozen. This stops either of you spending the money in the account or running up debts.
• Dividing up finances. Ideally, you and your ex-partner can agree on how to split the money in your joint account. But if you can’t, the law states that the money belongs to whoever paid it in - but the other person on a joint account may be able to make a claim for a share of it.

Before you close a joint account

There are a few things you’ll need to do before you actually close your joint account. Here’s a quick checklist:

• Make arrangements for upcoming payments - decide who will take responsibility and arrange to move them to another account
• Repay any overdraft or other debt outstanding on the account
• List and cancel/rearrange direct debits and standing orders
• Agree on how funds in the account will be divided
• Resolve any outstanding disputes - this may involve mediation, or assistance from your solicitor if you’re going through a divorce.

Closing your joint account

Ready to close your joint account? Depending on the bank, you may be able to close a joint account online - just like many providers let you open joint accounts online. But others may require you to fill in a form or visit a branch in person.

So the first thing to do is find out what the bank’s process is for closing joint accounts. You also need to check whether one or both of you need to sign a form, give permission or agree in writing.

Then, you can fill in the account closure form or complete the process online.

Financial implications of going through a separation

Going through a separation can be extremely difficult without needing to sort out sensitive issues involving money.

Many people choose to leave joint assets like shared accounts as they are, until there’s a plan in place to divide them (such as a financial settlement).

But every separation is different, and it’s important to get professional financial and/or legal advice to help you make the right decisions for you.

How to contact your bank or provider

Need to contact your bank or joint account provider? Here are the contact details for some of the UK’s best banks for joint accounts:

Looking for a new personal account?

It’s up to you to decide how to manage your finances in the future, but it’s useful to know what options are out there. There are lots of personal account providers to choose from, including alternatives to banks like Wise.

Open a Wise account online and you can manage your money in 40+ currencies.

Open your Wise account 🌍

Send and receive global payments for low fees* and great mid-market rates, and spend in 40+ currencies in 150+ countries with the Wise card.

You can even earn returns on balances held in GBP, EUR and USD with Wise Interest. Capital at risk.

Capital at risk. Growth not guaranteed. Wise Assets UK Ltd is authorised and regulated by the Financial Conduct Authority with registration number 839689. When facilitating access to Wise investment products, Wise Payments Ltd acts as an Introducer Appointed Representative of Wise Assets UK Ltd. Please be aware that we do not offer investment advice, and you may be liable for taxes on any earnings. If you’re uncertain, we urge you to seek professional advice. To find out more about the Funds, visit our website.

Sources used:

1. MoneyHelper - navigating joint bank accounts, debt, savings and other finances with an ex-partner

Sources last checked on date: 10-Mar-2025