Any account extending privileges or liabilities to two or more entities is a type of joint account. In personal finances, joint accounts almost always involve spouses or parents and children. For example, your ‘family’ checking account probably allows two people to write checks-you and your spouse; it’s a joint account. Or, your teenager needs a bank account to get a job but can’t open one alone because they are a minor and can’t legally accept the liability-you and your teenager share a joint account. Some types of joint account extend full account privileges to both parties, while other types of joint account restrict access for one party.