Essential for managing shared finances, the joint account is a practical and effective solution for many couples or roommates. But which online banks offer this free option? The overview by MoneyVox.
Reduced or non-existent fees, accessibility and availability of customer service, rapid and paperless account opening, attractive welcome offers… There is no shortage of reasons to explain why online banks have many advantages compared to traditional banks. It is therefore entirely logical that when opening a joint account you turn to one of these 100% digital establishments. Four online banking establishments now offer their customers the benefit of a completely free joint account.
Fosfo, Gold Mastercard or World Elite at Fortuneo
Fortuneo stands out by offering a wide range of free joint accounts. All individual current account plans are available in the form of a joint account, with a free bank card for each holder, and fee-free international transactions. The basic Fosfo offer includes immediate debit bank cards, free of charge subject to making one payment per month (by default, a fee of 3 euros is applied), without any income or savings requirement.
Fortuneo also offers more premium offers for joint accounts. Holders can therefore opt for Gold Mastercard formula, offering additional benefits. Although a income condition of 2700 euros is required for two cards (or 1800 euros for a joint account with a single card), the latter remain free provided you make a monthly payment. Insurance guarantees are extensive, offering coverage of up to 50,000 euros for damage to a rental vehicle and up to 5,000 euros in the event of trip cancellation, among other benefits.
Finally, online banking has a very high-end offer with its card World Elite Mastercard for joint accounts. Customers must provide proof of minimum monthly income of 5500 euros (for two cards, or 4000 euros for a joint account with a single card). The cards remain free subject to a minimum monthly deposit on the joint account. With high ceilings and reinforced insurance, this offer is aimed at customers looking for exclusive banking services and exceptional benefits. note that it is only possible to subscribe to one World Elite Mastercard per joint account.
Fortuneo bank account offers
Welcome and Ultim at BoursoBank
Regarding BoursoBank, all bank account offers are also available in an attached version. However, only two formulas are exempt from fees: Welcome and Ultim. The Welcome offer includes a systematic authorization Visa card, free subject to use with a minimum payment per month (otherwise, an inactivity fee of 5 euros is charged). Card payments are free internationally, and the plan also offers a free monthly withdrawal abroad (a fee of 1.69% applies beyond that). Online banking does not require any income conditions, nor any obligation to domiciliate income. The only condition to benefit from it is to have 50 euros minimum on bank accounts within the establishment.
With Ultim, the second free joint account formula from BoursoBank, the advantages are extensive. Free is again conditional on monthly use of the card (9 euros are charged, by default). This higher pricing is justified by the level of the Ultim card, comparable to a Visa Premier. The advantage here is that the card is available in both immediate and deferred debit. You must provide proof of an outstanding balance on the BoursoBank accounts of 300 euros minimum in the first case, and 6000 euros in the second.
Regardless of the debit method, international payments have no additional fees, and free withdrawals are limited to three per month (with a fee of 1.69% beyond that). Ultim card holders also benefit from insurance and assistance guarantees, including coverage in the event of death or disability of up to 310,000 euros, compensation in the event of delay or loss of baggage (up to 400 euros), civil liability abroad, etc.
The BoursoBank bank account in details
Hello One Duo at Hello bank
The Hello bank catalog includes two offers: Hello One and Hello Prime. Only the first is free, both for individual accounts and for joint accounts. In detail, the account Hello One Duo is open to all, without income, savings or deposit conditions. This joint account includes two cards and remains free provided that at least one transaction (payment by card or withdrawal) is made each month. Otherwise, a fee of 3 euros applies. The two associated Hello One cards are immediate debit and systematic authorization. The advantage of the formula is that card payments are not subject to any fees, whatever the currency. In addition, withdrawals from BNP Paribas ATMs and its affiliates are also free of fees.
Hello One Duo by Hello bank
A joint account feature at Revolut
Since mid-April 2023, all Revolut customers of legal age and domiciled in the European Economic Area (EEA) can benefit from a new feature offered on the application: joint accounts. To benefit from it, you must meet several conditions. First, it is imperative to have an individual subscription. Then, to be able to open a duo account, the accounts of both applicants must be domiciled in the same country, and at the same Revolut branch. If one of the co-holders does not have a Revolut account, they will need to create one to have the right to hold a joint account in the British nobank.
The joint account functionality allows each joint account holder to benefit from a bank card associated with the joint account, identical to the one included in the initial subscription and at no additional cost. Instant SEPA transfers are free, as are international payments. note that opening a joint account is limited to one per person at the moment. Finally, if the functionality is accessible with all the formulas, only the Standard offer is free at Revolut.
Revolut: Customers can now open a joint account