Pershing Joint Account Agreement

Pershing Joint Account Agreement: Understanding the Terms and Conditions

Joint accounts are a common way for couples or business partners to pool their resources and manage their finances. If you’re considering opening a joint account, it’s important to know the terms and conditions of the agreement to ensure you’re making an informed decision.

Pershing, a subsidiary of BNY Mellon, is a leading provider of financial services and solutions to institutional and retail clients. They offer joint account services with various account types, such as individual, joint, trust, IRA, and corporate accounts.

In this article, we’ll provide an overview of the Pershing Joint Account Agreement and what you need to know before opening an account.

What is a Joint Account?

A joint account is a bank account or brokerage account that is owned by two or more individuals. Each account holder has equal rights and access to the funds in the account. Joint accounts are commonly used by couples for joint expenses like bills, mortgage payments, and vacations. They’re also used by business partners to manage shared expenses.

What is the Pershing Joint Account Agreement?

The Pershing Joint Account Agreement is a legal contract that outlines the terms and conditions of a joint account with Pershing. The agreement covers everything from account ownership and access to account fees and charges.

Before opening a joint account with Pershing, it’s essential to read and understand this agreement thoroughly. The agreement will outline the rights and responsibilities of each account holder, including the ability to make deposits and withdrawals, change account information, and close the account.

What are the terms and conditions of the Pershing Joint Account Agreement?

The terms and conditions of the Pershing Joint Account Agreement may vary depending on the account type and account holder’s location. However, some common terms and conditions that may be included in the agreement are:

Account Ownership: All account holders must agree on the account’s ownership, and all account holders will have equal rights to the funds in the account.

Power of Attorney: If one account holder grants power of attorney to another account holder or someone outside of the account, Pershing requires a notarized power of attorney form.

Withdrawal Limits: Pershing may impose withdrawal limits on joint accounts to protect against fraud or unauthorized transactions.

Dispute Resolution: The agreement may outline the dispute resolution process if there is a disagreement between account holders or Pershing.

Fees and Charges: Pershing may charge fees for account maintenance, transactions, and wire transfers, among other services. It’s crucial to understand the fees and charges associated with a joint account before opening one.


Opening a joint account with Pershing can be a smart financial move for couples or business partners. However, it’s essential to understand the terms and conditions of the Pershing Joint Account Agreement before opening an account. Understanding the agreement can help you make an informed decision and avoid any misunderstandings or disputes down the road.