Why taking all the cash in joint account may leave you with less

Greed does not pay, especially in cases involving joint bank accounts where one account holder grabs everything by withdrawing all the money. PHOTO: BT FILE
New: Gift this subscriber-only story to your friends and family

Greed does not pay, especially in cases involving joint bank accounts where one account holder withdraws all the money.

If this happens, the law could compel the account holder to either return all the cash or at least half of it if he cannot prove ownership of the whole stash.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.