Legal Question in Banking Law in Pennsylvania

Re: joint checking account

You asked about a spouse bouncing checks.

You can fix this in a number of ways. The easiest is to get another account to which has no access.

Since that would defeat you goal you need to create a false floor in the account. This can be done either by having your spouse agree to set the account at zero at an amount above zero. Essentially this is just fooling yourself into not spending money that you know is in the account.

You could also set up an overdraft protection tool. There are two basic methods: the best way is to get an overdraft protection line of credit. When an overdraft hits the account then essentially you are borrowing money from the bank to cover the overdraft. The other means is to tie a savings account to the checking account. The second is more dangerous as your savings could be depleted in error.

I think instead you need to have a frank discussion with your spouse about budgeting, and balancing a checkbook. Overdraft fees add up quickly and will cost too much in both money and emotion.

And my guess is that you are a young couple. Discussing finances openly is important to a healthy relationship.

Regards,

Roger