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Who here is a banking expert? A girl I know had a joint checking account with her now ex-fiance. They are working on separating all of their accounts. He wrote some checks, and while they were in the mail, went and opened up his own personal account, transferred ALL of the money in their joint account, into his personal account, and took his name off of their joint account. So a few days later, those checks come back NSF, leaving her with ~$150 in fees, that she wants HIM to obviously pay for. So my questions: 1)Don't they need both people's signatures to take a name off of a joint account? Should they just open up another account and transfer the money without consulting her? 2)Shouldn't they still hold him responsible, as the checks that he sent out had HIS name on them as well? Couldn't they just debit his account for these fees? 3)Does she have any recourse in this, or is she stuck with just paying the fees? Please only answer if you are in the banking field, and know more about this. Thanks!  Mark
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Originally posted by Y2KSVT:
Please only answer if you are in the banking field, and know more about this.
Awwww man, you're no fun.
"Eagles may soar high, but weasels don't get sucked into jet engines."
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Originally posted by Y2KSVT:
So my questions:
1)Don't they need both people's signatures to take a name off of a joint account? Should they just open up another account and transfer the money without consulting her?
2)Shouldn't they still hold him responsible, as the checks that he sent out had HIS name on them as well? Couldn't they just debit his account for these fees?
3)Does she have any recourse in this, or is she stuck with just paying the fees?
Mark
I've been in the banking industry for 13+ years now. I've seen the scenario you described many times. Unfortunately, he was must have been the joint owner (second on the account) Otherwise he couldn't have just removed his own name. With that said, she's the primary, thereby fully responsible for what occurs with the account. That includes any activities perpertrated by the former joint owner. The bank is under no obligation to go after him for the fees since the checks attempted to clear on the account that now only has her name on it. Her only choice for recourse is to pay the fees or file a claim in small claims court for this situation. I wish I could give you better news.
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1996 Volvo 850-R
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Hey no problem at all! I was just looking for the right answer, not necessarily the answer the she would like to hear. Looks like she'll just have to chalk this one up to experience!  Mark
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Originally posted by Y2KSVT:
Hey no problem at all! I was just looking for the right answer, not necessarily the answer the she would like to hear. Looks like she'll just have to chalk this one up to experience!
Mark
True.
2006 Mazdaspeed6
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hey look at it this way...she has to pay $150 to be rid of him.
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Depending on what happened on purchases, payments, debts, leases, utilities, and how they shared incomes, what they did jointly, and details of "I'll cover this for you while you cover that for us" (was the house or new car or 60" TV in his name while she made the payments on it, etc.), she MAY have all kinds of recourse against him for MORE than just the fees on the checks he wrote.
So how much of "her" money did he grab and move into "his" separate account? Is any real property involved? Is this checking account story only part of how he screwed her over financially?
MANY states have case law treating break ups of domestic partnerships like divorces with equitable division of property and debts.
IF there are bigger legal issues here, then "Mr. I'm So Clever, I Bet Nobody Ever Tried This Stunt Before" set himself up to get CREAMED. Will this jerk get ANY slack from a judge or court arbitrator?
Forget looking for a banker. Look for consultations with dom rel lawyers instead.
MSDS, SHO-shop Y, custom 2.5" catback; xcal2; 63mm TB, K&N 3530; Koni struts, Aussie bar; THaines forks, Quaife, SpecII, UR fly; DMD; Nima UD pullies; Stazi brakes; f&r Pole120 mounts. Just a daily commuter car. Silver '98 SVT E0 #3159
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Originally posted by PDXSVT:
Depending on what happened on purchases, payments, debts, leases, utilities, and how they shared incomes, what they did jointly, and details of "I'll cover this for you while you cover that for us" (was the house or new car or 60" TV in his name while she made the payments on it, etc.), she MAY have all kinds of recourse against him for MORE than just the fees on the checks he wrote.
So how much of "her" money did he grab and move into "his" separate account? Is any real property involved? Is this checking account story only part of how he screwed her over financially?
MANY states have case law treating break ups of domestic partnerships like divorces with equitable division of property and debts.
IF there are bigger legal issues here, then "Mr. I'm So Clever, I Bet Nobody Ever Tried This Stunt Before" set himself up to get CREAMED. Will this jerk get ANY slack from a judge or court arbitrator?
Forget looking for a banker. Look for consultations with dom rel lawyers instead.
I don't think it's that serious.
2006 Mazdaspeed6
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1996 Volvo 850-R
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MAYBE he was a "nice" asshat and only screwed her over "a little." But since he's OK with cleaning out their checking account and leaving her with the NSFs (Do you know how many more checks have not finished bouncing yet?), you can go ahead and assume this is no big thing. One almost-spouse stealing the other almost-spouse's money is never serious. Right?
If they had any joint credit cards, she'd better check NOW to see if they were maxed out. Did he do address change orders with the Post Office, banks, car loan company, gasoline cards, other credit institutions? What other messes/surprises did he leave for her and how long will it take the full news of those potential surprises to get to her?
Yeah, she's got ABSOLUTELY NOTHING to consider here because he is SOOOO trustworthy and stuff like the worst case scenarios NEVER happen.
If you agree, might you care to buy some ocean front property in Nebraska?
MSDS, SHO-shop Y, custom 2.5" catback; xcal2; 63mm TB, K&N 3530; Koni struts, Aussie bar; THaines forks, Quaife, SpecII, UR fly; DMD; Nima UD pullies; Stazi brakes; f&r Pole120 mounts. Just a daily commuter car. Silver '98 SVT E0 #3159
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