Meaning of the word "joint account" in English

What does "joint account" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

joint account

US /ˌdʒɔɪnt əˈkaʊnt/
UK /ˌdʒɔɪnt əˈkaʊnt/
"joint account" picture

Noun

1.

a bank account held by two or more people, each of whom has the right to deposit and withdraw funds

Example:
They opened a joint account to manage their household expenses.
Both spouses have access to the joint account.
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