I've been binge reading posts here and found that it's pretty common that folks here have joint account with their spouse.
When we opened ours on ZKB, we were told that joint account is problematic if it's the only one, because in case of death of one spouse, account is freezed until inheritance is resolved. So that's recommended to have also personal ones.
At least that's how I understood it.
We did power of attorney between us. Since I didn't have permit card yet, so that was easiest solution, plus we wanted it, just thought there's something better maybe.
And we have now a bunch of saving and current accounts, to manage our digital envelope budgeting system as I fondly call it. No tracking needed just awareness how much is left.
But now I wonder if what I've been told isn't quite right, since I saw some people say it's not freezed. Also wondering what we would gain or lose with having such account in addition to current setup, if someone knows?
He's currently only working one, but even when we were both working, all income is ours, and current system we have just means put budgeted amounts into each account and you can easily see how much is available until end of month.
We have revolut as completely private accounts for 'no questions asked free money for fun or whatever', however we'll also buy fun stuff from shopping budget, it's just then we agree on it.
I don't think joint account would bring anything useful that we don't already have solved, but I don't know, so would like to learn more about how that thing works?
Is it like one iban and one card, and if you want more, you have to make more accounts, or it's more like 'you two are entity called customer X' and you can open however many accounts bank allows for that customer?
Also, with power of attorney I can't rename his accounts, nor open/close them. I can just move money around (and it goes instantly), pay whatever. I think I can't increase daily limits either, only for my card. Or it's my account both cards probably.
We have cards for each other's account.
So, any differences from joint one?
When we opened ours on ZKB, we were told that joint account is problematic if it's the only one, because in case of death of one spouse, account is freezed until inheritance is resolved. So that's recommended to have also personal ones.
At least that's how I understood it.
We did power of attorney between us. Since I didn't have permit card yet, so that was easiest solution, plus we wanted it, just thought there's something better maybe.
And we have now a bunch of saving and current accounts, to manage our digital envelope budgeting system as I fondly call it. No tracking needed just awareness how much is left.
But now I wonder if what I've been told isn't quite right, since I saw some people say it's not freezed. Also wondering what we would gain or lose with having such account in addition to current setup, if someone knows?
He's currently only working one, but even when we were both working, all income is ours, and current system we have just means put budgeted amounts into each account and you can easily see how much is available until end of month.
We have revolut as completely private accounts for 'no questions asked free money for fun or whatever', however we'll also buy fun stuff from shopping budget, it's just then we agree on it.
I don't think joint account would bring anything useful that we don't already have solved, but I don't know, so would like to learn more about how that thing works?
Is it like one iban and one card, and if you want more, you have to make more accounts, or it's more like 'you two are entity called customer X' and you can open however many accounts bank allows for that customer?
Also, with power of attorney I can't rename his accounts, nor open/close them. I can just move money around (and it goes instantly), pay whatever. I think I can't increase daily limits either, only for my card. Or it's my account both cards probably.
We have cards for each other's account.
So, any differences from joint one?