Give me my money back
Question
I trusted one of my friends to save some of my money in her bank account. She put it into the joint account she has with her husband and they've recently separated. He's put a stop on the account so she can't withdraw the cash. Can he do this? I thought a joint account was just that - joint. How can he make the decision to stop the account on his own? And how do I get my money back?
Answer
When two or more people decide to open a joint bank account, they have to sign a mandate stating which one of them, or how many of them, can sign cheques or carry out other transactions in connection with the account. If your friend signed a mandate to say the bank can act on one signature alone her husband can suspend or close the account without her authorisation. But it's important for you, and her, to know that all the money in a joint bank account belonging to a married couple is assumed to belong to both the account holders equally.
The best thing to do is talk to your friend or her husband about getting the money back. If one or other refuses, the best legal option you have is to take court action in the small claims court (if the amount is less than £5,000). To do this you will need to be able to show that the money is yours.
If you would like more information or assistance you can talk to an advisor, in confidence, at your local Citizens Advice Bureau (CAB).
Updated: 02/02/2006
Question answered by CAB
