You own a single bank account if the account’s title lists your name as the owner. If the account has your name and the name of at least one other person on it, then you co-own a joint account. You can deposit and withdraw money regardless if it’s a single or joint account.
One Bank Account Example:
If you receive monthly social security payments, the following example may apply.
- John Public
Co-own (Joint) Bank Account Example:
If you receive your monthly social security payments into a co-owned (joint) account shared with your spouse, the following example may apply.
- John Public and Marcy Public
If you are not sure that you are the owner or co-owner of the account where you want your benefits deposited, contact your bank or financial institution.