Practical Issues In The Common Deposit Account Context – Upd December 2025

(Republished from www.lawnet.gr)

Summary: In modern transactions it is common for two or more persons to hold a "joint account" with a bank, usually a deposit account with several beneficiaries, on which each beneficiary can act autonomously, depositing or withdrawing money or giving orders for transfers. In the context of maintaining such an account, a number of issues may arise concerning the relationship between the beneficiaries themselves, the relationship between the beneficiaries and the bank or even with third parties. Can, for example, a third party creditor of a beneficiary seize the total amount of the account? Can the bank set off any counterclaim it has against a beneficiary of the account against the total amount of the deposit in the joint account? This article highlights the most important of the issues that may arise in the context of this relationship.