Joint Bank Account

Shared account for household groceries, loan payments or renovation

A Joint Bank Account is a Current Account dedicated to paying your household expenses. Keeping up with family finances is easy with an account for the purpose. You can, for example, always transfer a certain amount to this account on your payday.

  • A Current Account shared by the family's adults for paying household expenses, such as groceries, renovation, loan repayments or other regular household costs.
  • Transferring the agreed amounts from the adults' own Current Accounts to this household account is simple.
  • Household expenses can easily be monitored on one account.
  • Both adults can have payment cards linked to this account.
  • The account's interest rate is 0.25% for an owner-customer. Read more under "Deposit interest rate". 

How to open a Joint Bank Account

The most convenient way of opening a joint account is by logging into OP-mobile.

1. Open a new Current Account. From the OP-mobile home page, select Money  Accounts and cards  Open an account.

2. Check that your KYC information is up to date. From the home page, select More  My profile  Customer details. KYC means Know Your Customer, and it’s information that all banks must ask from their customers.

3. Send us a message asking us to add another account holder to your account. Please provide the following information in your message:

  • the number of the Current Account you opened
  • the name and personal ID code of the other account holder
  • and the information that both account holders can use the account separately.

4. Lastly, the account holder you added to the account must sign the account agreement on OP's Electronic Signature Service or at a bank branch.

It's possible to sign the account agreement electronically if the person added to the account is already an OP cooperative bank customer and has an OP user ID. They will be informed about the signing of the account agreement by message.

If necessary, you can also book an appointment for a meeting to open a Join Bank Account.

Go to appointment booking

The account's interest rate is fixed 0.25% for an OP cooperative bank owner-customer. Earning interest requires that the account and owner-customer membership are with the same OP cooperative bank. If the account has more than one account holder, all account holders must be owner-customers at the OP cooperative bank that holds the account. For customers other than owner-customers, the deposit interest rate is fixed 0.00%.

Calculation and payment of deposit interest

The account's deposit interest rate is calculated on the lowest balance of a calendar month. The lowest balance is based on the daily closing balance.

The deposit interest will annually be added to the account's funds on 1 December and it can be withdrawn before mid-December, unless otherwise agreed in the account agreement. You can check the interest payment day from your account agreement. You can find the electronic account agreement in My archive. The paper account agreement has been sent by post or given at the meeting.

Tax treatment

Tax at source is charged on each interest payment. You do not need to report the deposit and earned interest in taxation.

Account terms and conditions

The General Terms and Conditions for Accounts for Private Customers apply to the Joint Bank Account.

Current Account's monthly charge

The Joint Account is a Current Account with several holders. The Current Account is subject to a monthly charge that is based on the list of service charges and fees. 

Current Accounts are free of charge for customers under 26 years of age, and for accounts held at the OP cooperative bank where the holder is an owner-customer. If an account has several holders, it will only be free of charge if all account holders are owner-customers of the OP cooperative bank where the account concerned is held.  

Please note that each OP cooperative bank can have owner-customers. You can check your owner-customer membership by logging in to OP-mobile or service. 

A monthly charge is not debited from the Current Account that has been pledged or belongs to a death estate.

See the valid list of charges and fees

Check your owner-customer membership

Please note that the bank has the right to change the account agreement, its terms and conditions, and the list of service charges and fees. The bank will inform you of changes as specified in the terms and conditions.

Savings on the account are protected with deposit guarantee. The maximum compensation for guaranteed deposits is EUR 100,000 for the deposits made in a single deposit bank. OP Financial Group member banks are considered a single bank from the perspective of the deposit guarantee.

Deposit guarantee protects a depositor's funds on an account if the deposit bank becomes insolvent. If a deposit bank is declared bankrupt or is in permanent default, the Financial Stability Authority pays compensation to the bank’s depositors from the Deposit Guarantee Fund.

You can easily change the transaction limits for your accounts on OP-mobile and in the service. Considering that such daily limits make it safer to use the account, you should set them. You can change the limits temporarily when you make bigger purchases, for example.

You can set two types of transaction limits for your account:

  • For the biggest possible one-time withdrawal  
  • For the total daily withdrawals, or the maximum amount of money you can withdraw within one day.

The transaction limits relate to:

  • cash withdrawals,
  • real-time credit transfers and
  • card payments which are automatically checked against during payment whether the account has sufficient funds.

The transaction limits do not affect the amounts submitted to the payment service payable on the due date.

Read the instructions for changing the transaction limits of your account

Also set transaction limits for each card

It is advisable to set card-specific spending/withdrawal limits with which you specify daily limits for cash withdrawals, POS payments and online payments.

You can set the limits separately for your card's debit and credit sides.

You can change your cards’ spending and withdrawal limits on OP-mobile and in the service. You can also call our Customer Service or visit an OP cooperative bank branch.

Go to Customer Service page

As an OP cooperative bank owner-customer, you get OP bonuses that decrease your banking and insurance service charges. In 2024, you will earn 40% more OP bonuses than normal.

OP bonuses come from

  • funds in savings accounts
  • home loans, student loans and secured bank loans
  • mutual fund units and unit-linked insurance
  • paid insurance premiums, such as home and motor vehicle insurance and continuous travel insurance.

OP bonuses are tax-free. Because of that they are automatically used for loan service and origination fees and insurance premiums, among other things.

Read more about OP bonuses

As an owner-customer, you also get significant benefits and discounts. For example, you will get daily banking services without monthly charges until the end of 2024 and interest on your Current Account. Furthermore, you'll enjoy lower saving and investing costs than usual.

See all owner-customer benefits

The account is provided by OP cooperative bank.