I would think that just because the T’s and C’s say so does not make it so legally. After all, what is their fault is their fault, and what is your fault is your fault. If somebody clones your card and steals your money, they can’t just absolve their liability by pointing out that you broke the terms of service.
we must remember that our spouses CAN fool around us, get involved in gambling or drugs. a woman for e.g. can have her own job, and still have her own account to put perhaps 10% of her income into it for her own personal use, and yes the rest would be shared for bills, whatever. a spouse could use your debit card to YOUR savings account to buy things that you would not approve of, or they can get involved in drugs (as mine did and wiped out most of my money, the bank and police WILL NOT support you in this case because you have broken the TERMS and CONDITIONS of the bank). you are NOT TO GIVE YOUR PIN # TO ANYONE, spouses included. no matter how much we love, or trust them. we don’t own our spouses, we own our money and our accounts. sorry to take the romance out of finances.
Sometimes, there are good reasons to maintain separate accounts. For example, before I got my own bank account, Airman would deploy out of the country and spend money out of our joint account. It took around 24 to 48 hours to process the transaction, and it’s not like Airman could tell me about it himself. I’d think there was money there that really wasn’t, pay bills or whatever, and end up bouncing stuff when Airman’s transaction posted. Once I got my own account and had my paychecks deposited into that account, there was no risk of bouncing. We still have our joint account, but having my own account has been quite helpful.
That being said, I have no problem giving my card to Airman. It’s not a secret account or anything, it’s just a way to keep some things separate so they don’t gum up the works somewhere else.
Husband and I pool money, no issues handing over card/PIN (he already knows it, anyway).
Since this thread got started, almost 6 years ago, we’ve had lots of threads about joint accounts. I understand times when it makes sense to keep separate accounts, but I’m surprised how many people just don’t trust their spouses.
We have two cards and two PINs, but they go to the same account and we know each others. Has worked fine for a third of a century.
Its Bosco.
Since this thread started, I have even loaned my ATM card to my kids on occasion and let them get some money out at the mall, or wherever. The only time I don’t is when I have an unusually large amount in checking for some reason (like now, having just sent the IRS a big check) and I’d prefer the kids not see what would look to them like a gigantic balance in their Dad’s account.
Mostly because it is just easier. My wife and are fortunate in that we both make comfortable livings on a near equal basis. We both have it set up so that some amount of money flows into a joint account out of which the standing bills are paid, but otherwise we just keep money in our own accounts and don’t have to worry about what the other one is spending at any given moment.
We trust each other that excess will eventually end up in the long term savings/investment areas but don’t really check up on each other.
That said, I do know here PIN, but I’ve never used her cards other than once paying for gas at the pump when I’d forgotten my wallet. We have a document where we keep all our accounts information and access information in case something happens to the other.
So, it is just convenience. If she came up and said “give me your credit card as I’m bored spending my money and want to spend yours for a while” I’d give it to her.