A joint bank account can make it easier to manage your finances with a partner or family member. However, there are also some potential drawbacks of joint accounts to consider. Before you decide to merge your finances with another person, it's important to understand what a joint bank account is and how it works. What is a joint bank account? A joint bank account works like a typical bank account; the major difference is that it’s co-owned by two or more individuals who all have the power to make depos ...