How To Add Someone To Your Bank Account Bank Of America

People are currently reading this guide.

👤

Published by A contributor at Hows.Tech sharing helpful insights.

📝 Article edited 0 times 🕒 Last modified by Default Author

Adding someone to your Bank of America account can mean a few different things, each with distinct implications for access, responsibility, and legal ownership. This lengthy guide will walk you through the various ways to add someone, what each option entails, and the step-by-step process for Bank of America.

Ready to share your banking experience? Let's dive in!

Understanding the Different Ways to Add Someone to Your Account

Before we get into the "how-to," it's crucial to understand the types of access you can grant. This is not a one-size-fits-all scenario, and choosing the right option is paramount.

Joint Account Holder (Co-Owner)

This is the most comprehensive way to add someone. When you add a joint account holder, that person becomes a co-owner of the account, with equal rights and responsibilities.

What it means: Both individuals have full access to the funds, can make deposits and withdrawals, write checks, receive debit cards, and manage the account. They are also equally responsible for any overdrafts or debts associated with the account, regardless of who incurred them. If one owner passes away, the other typically retains full ownership.
When it's suitable: Ideal for spouses, trusted family members, or business partners who share finances and are comfortable with joint financial liability.
Key takeaway: Shared ownership, shared responsibility.

Authorized User (for Credit Cards)

This option is specifically for credit cards, not checking or savings accounts. An authorized user can make purchases on your credit card account but does not have legal ownership or responsibility for the debt.

What it means: The authorized user receives their own card linked to your account and can spend up to your credit limit. However, you as the primary cardholder are solely responsible for all charges made on the card, including those by the authorized user. The authorized user's credit score may be impacted by your account's payment history (positively or negatively).
When it's suitable: For parents helping a child build credit, or for family members you trust to make purchases but don't want to grant full financial responsibility to.
Key takeaway: Spending privileges, no financial liability for the user.

Authorized Signer (for Business Accounts)

This applies specifically to Bank of America business accounts. An authorized signer can conduct transactions on the business account but does not have ownership of the business.

What it means: An authorized signer can make deposits, withdrawals, and write checks on behalf of the business. The business entity remains the owner of the funds.
When it's suitable: For employees, bookkeepers, or managers who need to manage business finances but are not owners.
Key takeaway: Transactional access for business operations.

Power of Attorney (POA)

A Power of Attorney grants someone the legal authority to act on your behalf in financial matters. This is typically used when you become incapacitated or are otherwise unable to manage your own finances.

What it means: The designated agent (attorney-in-fact) can access and manage your accounts as specified in the POA document. Bank of America will review the POA document to ensure its validity and scope.
When it's suitable: For elderly individuals, those with serious health concerns, or anyone who wants to plan for future incapacity.
Key takeaway: Legal authority to act on your behalf, not ownership.

Beneficiary (Payable on Death - POD)

While not "adding someone to your account" in the sense of granting them active access during your lifetime, designating a beneficiary (often as "Payable on Death" or POD) ensures that the funds in your account are transferred to a specific individual(s) upon your passing, bypassing probate.

What it means: The beneficiary has no access to the funds while you are alive. Upon your death, and the death of any other account owners, the funds are directly disbursed to the named beneficiary/beneficiaries.
When it's suitable: For estate planning, ensuring a smooth transfer of assets to loved ones.
Key takeaway: Designation for post-mortem asset distribution.

Step-by-Step Guide: How to Add Someone to Your Bank of America Account

The process for adding someone varies significantly depending on the type of access you wish to grant.

Step 1: Determine the Type of Access and Gather Information

Before you do anything else, take a moment to consider what kind of access you genuinely want to grant. Do you want shared ownership and responsibility, or simply the ability for someone to make purchases on your credit card? This is the most critical decision in the entire process!

Once you've decided, gather the necessary information for the person you wish to add. This will vary by the type of access.

For Joint Account Holders (Checking/Savings Accounts):

Both you and the person you're adding will need to be present at a Bank of America financial center.
Valid Government-Issued Photo ID: This is mandatory for both individuals. Examples include a driver's license, state ID, or passport.
Social Security Number (SSN): For both individuals.
Current Residential Address: For both individuals.
Existing Account Number: If you're adding them to an existing account.
Initial Deposit (for new joint accounts): If you are opening a brand new joint account, you'll need the minimum opening deposit.

For Authorized Users (Credit Cards):

Authorized User's Full Name
Authorized User's Date of Birth
Authorized User's Social Security Number (SSN)
Authorized User's Phone Number
Your Credit Card Account Number: The primary cardholder will need this.

For Authorized Signers (Business Accounts):

All existing and new authorized signers/owners will need to be present at a Bank of America financial center.
Valid Government-Issued Photo ID: For all individuals involved.
Social Security Number (SSN): For all individuals involved.
Business Documents: The specific documents depend on your business type (e.g., Articles of Incorporation, Partnership Agreement, Business License). Bank of America will specify which documents are needed.
Existing Business Account Number: If you're adding a signer to an existing account.

For Power of Attorney:

The Principal (you) and the Agent (the person you're granting POA to) should ideally be present at a Bank of America financial center.
Fully Executed, Notarized Power of Attorney Document: This is the legal document granting the authority. It is highly recommended to consult with a legal advisor to draft this document correctly.
Valid Government-Issued Photo ID: For both the principal and the agent.
List of Account Numbers: You need to specify which accounts the agent will have access to.

For Beneficiary (Payable on Death):

Beneficiary's Full Name
Beneficiary's Date of Birth
Beneficiary's Social Security Number (SSN) (optional, but helpful for identification)
Your Account Number: The account you wish to designate the beneficiary for.

Step 2: Choose Your Method for Adding Someone

Bank of America offers different avenues depending on the type of access.

Method 2a: For Joint Account Holders (Checking/Savings) and Authorized Signers (Business)

In-Person at a Financial Center (Recommended and often Required): For adding a joint owner to a personal checking or savings account, or an authorized signer to a business account, an in-person visit is generally required by Bank of America. This ensures all parties can be properly identified and all necessary agreements can be signed simultaneously.

Schedule an Appointment: It's highly recommended to schedule an appointment with a Bank of America financial center associate. This will save you time and ensure that a qualified representative is available to assist you. You can often do this online through the Bank of America website or by calling customer service.
Gather All Required Documents: As outlined in Step 1, ensure you have all valid IDs, SSNs, and any relevant business documents. Do not forget these!
Attend the Appointment: Both you and the person you're adding (and any other existing joint owners/authorized signers for business accounts) must be present.
Complete the Paperwork: The Bank of America associate will guide you through the necessary forms to add the new individual. This will include signing agreements acknowledging shared ownership and responsibility.
Verification and Confirmation: Bank of America will verify identities and process the request. Once complete, the new joint account holder will have full access. For business accounts, the authorized signer will be added.

Method 2b: For Authorized Users (Credit Cards)

Bank of America makes adding an authorized user to a credit card relatively easy, often allowing it online or over the phone.

Online Banking (Easiest Method):
1. Log In to Your Bank of America Online Account: Go to the official Bank of America website (bankofamerica.com) and securely log in with your credentials.
2. Navigate to Your Credit Card Account: From your account summary, select the specific credit card you wish to add an authorized user to.
3. Find "Information & Services" or "Account Services": Look for a section or tab typically labeled "Information & Services" or "Account Services." The exact wording might vary slightly.
4. Select "Add an Authorized User": Within that section, you should find an option like "Add an authorized user" or "Manage authorized users."
5. Enter Authorized User's Information: Carefully input the authorized user's full name, date of birth, Social Security Number, and phone number.
6. Review and Submit: Double-check all the information for accuracy before submitting your request.
7. Card Issuance: Bank of America will typically mail a new credit card with the authorized user's name on it to your primary address. Once received, activate the card according to the instructions provided.
Over the Phone:
1. Call Bank of America Customer Service: Dial the customer service number on the back of your credit card or find it on the Bank of America website.
2. Verify Your Identity: Be prepared to answer security questions to confirm you are the primary cardholder.
3. Request to Add an Authorized User: Inform the representative that you wish to add an authorized user.
4. Provide Information: You will be asked to provide the authorized user's full name, date of birth, Social Security Number, and phone number.
5. Confirmation: The representative will confirm the addition, and a card will be mailed.

Method 2c: For Power of Attorney

Adding a Power of Attorney to your account is a more sensitive process due to its legal implications.

Schedule an Appointment: It's highly recommended to schedule an appointment at a Bank of America financial center. This allows for a thorough review of the POA document.
Bring All Documents: Bring the original, fully executed, and notarized Power of Attorney document, along with valid government-issued photo IDs for both you (the principal) and the agent.
Provide Account List: Be ready to provide a clear list of the specific Bank of America account numbers that the agent is authorized to access.
Bank Review: Bank of America will review the POA document. Due to the complexities of these documents, multiple reviews may be required, and it might not be a single-visit process. Be prepared for potential follow-up requests for additional documentation.
Activation: Once the POA is reviewed and approved by Bank of America, the agent will have the authority to act on your behalf according to the terms of the document.

Method 2d: For Beneficiary (Payable on Death - POD)

Designating a POD beneficiary is generally a simpler process.

Online Banking (Recommended):
1. Log In to Your Bank of America Online Account: Access your online banking portal.
2. Navigate to Account Profile/Settings: Look for sections like "Profile Summary," "Account Settings," or "Beneficiary Information."
3. Find "Add Beneficiary" or "Payable on Death (POD)": Select the option to add or manage beneficiaries for the specific account.
4. Enter Beneficiary Information: Provide the beneficiary's full name, date of birth, and SSN (if requested). You may also be able to specify percentages if you have multiple beneficiaries.
5. Review and Confirm: Verify the information and submit your request.
In-Person at a Financial Center:
1. Visit a Financial Center: Bring your valid ID and account information.
2. Request to Add a POD Beneficiary: Inform the associate of your intention.
3. Complete Forms: You'll fill out a form with the beneficiary's details.
4. Signature: Sign the necessary documents.

Step 3: Important Considerations Before Adding Someone

Adding someone to your bank account, in any capacity, has significant implications. Think carefully before proceeding.

3a. Trust is Paramount:

Regardless of the type of access, you are granting a degree of control over your finances. Only add individuals you absolutely trust. This person will have access to your financial information and potentially your funds.

3b. Financial Responsibility:

Joint Accounts: Remember that joint account holders are jointly and severally liable for any debt or overdrafts on the account. If your co-owner overspends or incurs fees, you are equally responsible for paying them back. Their actions can directly impact your credit score.
Authorized Users: While authorized users aren't legally responsible for the debt, you are. If they max out the card and don't pay you back, it's your credit score and financial health on the line.

3c. Impact on Credit (for Authorized Users):

Being an authorized user can either help or hurt someone's credit score. If the primary account holder manages the account responsibly (on-time payments, low utilization), it can boost the authorized user's credit. However, late payments or high utilization by the primary cardholder will negatively affect the authorized user's credit as well.

3d. Privacy Concerns:

When you add someone to your account, they will likely have access to your transaction history, balance information, and other sensitive financial data. Ensure you are comfortable with this level of transparency.

3e. Future Changes and Removal:

Consider how easy or difficult it might be to remove someone from your account if circumstances change.

Joint Accounts: Removing a joint account holder often requires the consent and presence of both parties, or even closing the account and opening a new one individually. It's not a unilateral decision.
Authorized Users: You can generally remove an authorized user from your credit card account relatively easily by contacting Bank of America.
Power of Attorney: You can revoke a POA, but proper legal procedures must be followed to ensure its termination is recognized by the bank.

Step 4: Post-Addition Steps

Once someone has been successfully added to your Bank of America account:

4a. Discuss Expectations (Crucial for Joint Accounts & Authorized Users):

For Joint Accounts: Have an open and honest conversation about how the account will be managed. Discuss spending habits, bill payments, and communication regarding transactions.
For Authorized Users: Clearly define the terms of use for the credit card. Set spending limits, discuss repayment expectations (if any), and clarify what the card should and should not be used for.

4b. Account Access:

Joint Account Holders: Will receive their own debit card (if applicable) and can set up their own online banking access.
Authorized Users: Will receive their credit card. They can also often set up online access to view transactions on that specific card.
Authorized Signers: Will be granted access to perform transactions as per the business account agreement.

4b. Monitor Activity:

Regularly review statements and online activity, especially for joint accounts and authorized user credit cards. This helps ensure that transactions align with expectations and allows you to quickly identify any unauthorized or concerning activity.

10 Related FAQ Questions

Here are 10 frequently asked questions about adding someone to your Bank of America account, with quick answers:

How to add a spouse to my Bank of America checking account? You and your spouse must visit a Bank of America financial center in person with valid government-issued photo IDs and Social Security Numbers to add them as a joint owner.

How to add my child as an authorized user on my Bank of America credit card? You can usually add your child as an authorized user online through your Bank of America online banking portal by providing their name, date of birth, SSN, and phone number.

How to add someone to my Bank of America savings account without them being present? Generally, you cannot add a joint owner to a Bank of America checking or savings account without them being present. Both parties typically need to be there for identity verification and to sign necessary documents.

How to add an authorized signer to my Bank of America business account? You'll need to schedule an appointment at a Bank of America financial center with all existing and new authorized signers/owners, bringing government-issued photo IDs and relevant business documents.

How to grant someone Power of Attorney over my Bank of America account? Visit a Bank of America financial center with your fully executed and notarized Power of Attorney document, along with valid IDs for both you and the designated agent. The bank will review the document.

How to remove an authorized user from my Bank of America credit card? You can typically remove an authorized user by contacting Bank of America customer service over the phone or sometimes through your online banking account.

How to remove a joint owner from my Bank of America checking account? Removing a joint owner usually requires both parties to be present at a financial center, or in some cases, you may need to close the existing account and open a new individual account.

How to add a beneficiary (POD) to my Bank of America account online? Log in to your Bank of America online banking, navigate to your account profile or settings, and look for the option to add or manage beneficiaries (Payable on Death - POD).

How to get a debit card for a new joint account holder at Bank of America? Once the joint account is established in person at a financial center, the new joint account holder will typically receive their own debit card mailed to the account's address, or they may be able to get a temporary one on the spot.

How to find the requirements for adding someone to my Bank of America account? The most reliable way is to visit the Bank of America website's "Account Ownership Changes" section, call their customer service, or speak directly with a financial center associate.

8201240511180118360