Can a Spouse Withdraw Money Without Permission?
You work hard for your money and don't want it wasted. You might get upset if you find out your spouse withdrew money without asking. You may even wonder, 'Can a spouse withdraw money without permission?'
You'd hope the answer is a resounding 'No,' but the real answer is that it depends.
In some cases, yes, it's perfectly legal and acceptable for a spouse to withdraw money from your bank account, yet in others, it's neither acceptable nor legal.
Can a Spouse Withdraw Money Without Permission?
Your spouse may be able to withdraw funds from a bank account without permission, but it depends on the type of account you own, whether a joint or separate bank account.
It also depends on the agreement you and your spouse have about your bank accounts and how to handle money.
It's usually a good idea to have a budget and agreement in place so both partners are on the same page and you can reach your financial goals. Whether you have only individual accounts, a joint bank account, or some mix, having financial agreements is ideal.
Rights of Spouses on Joint Accounts vs Individual Bank Accounts
Most importantly, how you own the accounts matters. If you have a joint bank account, both parties have equal rights to the funds.
This means either partner can withdraw funds without asking the other. The bank won't ask for proof of permission from the other party because both names are on the account.
On the other hand, only the person named on the bank account can withdraw funds if you have individual bank accounts. This means if you have an account in your name, your spouse cannot withdraw funds because their name is not on the account.
What To Do if a Spouse Withdraws Money Without Permission
If you discover that your spouse emptied your bank account or withdrew funds without permission, consider talking to them about the situation.
If it's a joint bank account, there isn't much you can do unless you're headed for divorce proceedings and can prove your spouse deliberately emptied the account.
If you plan to stay married, it's important to set boundaries and create rules together so both partners are on the same page. While you don't want to make your spouse ask for permission, there should be an agreement between you to determine how to handle your funds, especially for larger purchases and decisions.
How To Protect Yourself From Unauthorized Spouse Withdrawals
If you're worried about financial infidelity or that your spouse is risking your financial matters, here are some key ways to protect yourself.
Establish Clear Communication & Transparency
It's always important to have clear communication with your spouse. Talking about money shouldn't feel uncomfortable or be put on the back burner. From the start, be transparent with each other about money, the monthly bills, and how you'll manage your budget.
If you have a joint bank account, set clear rules for one another about when it's okay to spend money and when you should ask for permission. For example, setting a dollar limit to how much is okay to spend without talking to your partner is a good first step.
Set Boundaries and Financial Agreements
Consider setting boundaries if one spouse likes to spend money or has a habit of spending without asking. You can do this from the start to avoid unnecessary arguments or implement it if you notice your spouse withdraws funds without considering your budget.
Setting boundaries can be a verbal agreement, such as, 'We can each spend up to $100 without asking,' or you can make it more formal with written financial agreements. Married couples handle their finances differently based on what's happening in the relationship.
Monitor Joint and Individual Accounts
If you worry about financial infidelity or your spouse spending money you didn't agree he/she should spend, monitor your bank accounts carefully.
If you have a joint bank account, understand that your spouse has as much legal right to the funds as you.
However, if you have an agreement within your marriage on how you can spend money, you may want to set up alerts with your bank so you know when your spouse withdraws funds from the joint bank account.
If you have your own bank account without your spouse's name, you should also set up customized alerts to inform you of any unauthorized transactions.
Utilize Two-Factor Authentication and Secure Passwords
Keeping your spouse from your bank account might feel weird, but if it's separate property, you have the right to keep it safe.
Set up two-factor authentication to ensure no one – not even your spouse – has unauthorized access to your bank account.
This makes it harder for your spouse to access your funds because it usually requires biometric measures, such as your face or fingerprint. It may also send an alert to your email or phone with a unique code.
This prevents anyone without that information from having access to your account.
It's also important to set up secure passwords. If your spouse knows your passwords, change them and be sure they are something they can't easily guess.
Try mixing your passwords up by using upper and lowercase letters, along with numbers and special symbols. Avoid using obvious things like birthdates, addresses, or common names in your family.
Consult With a Financial Therapist
If you and your spouse are at odds about handling your finances and your spouse takes all the funds without consulting with you, consider working with a financial therapist.
A neutral third party that understands marriages and finances can help you understand one another and how to get back into a good financial rhythm.
Whether you worry about your spouse spending money you need for living expenses or there are other factors that concern you, talking them out with a professional can help.
FAQs
Can a Wife Withdraw All Money From a Joint Account?
A husband and wife can legally access a joint account and withdraw funds. These joint assets are fair game for both parties.
Of course, that doesn't mean a wife should withdraw all the money from the account, and if you're headed to divorce court, the judge may force her to pay the money back because the account is marital property.
Can I Get In Trouble for Taking Money Out of My Husband’s Bank Account?
Legally, if you aren't in your husband's bank account, it isn't legal to withdraw money from it. Only the person whose name is on the account can withdraw money.
Can You Sue Your Spouse for Money?
If you and your spouse are getting divorced, you can request money in court based on your ex-spouse's actions in the marriage.
While there aren't any laws regarding how a husband and wife should handle their money, if a spouse is caught aggressively withdrawing funds to 'get back' at a spouse or to 'get ahead' in divorce, it could have legal consequences.
What Can You Do if Your Spouse Takes All Your Money?
The best thing to do if your spouse takes all your money is to keep a record of every transaction and the dates they occurred. If both you and your spouse decide to divorce, you can take legal action against your spouse for taking the funds.
Can a Joint Account Holder Limit the Withdrawal Rights of the Other Spouse?
No, joint account holders have equal rights to joint accounts. Neither party can stop the other from withdrawing funds.
Should I Withdraw Money Before Divorce?
It's best only to withdraw money needed to pay legal fees, bills, or living expenses before divorce. You don't want to be accused of taking money that doesn't belong to you or to give the family court judge anything to hold against you while coming up with the divorce decree.
It’s Time To Get on the Same Page With Your Spouse
So, if you wonder if a spouse withdraws money without permission, the answer is yes if it's a joint bank account and no if it's not.
Joint funds are equal property of both owners and are not separate property. Individual bank accounts, though, are separate property and can limit a spouse or anyone else from withdrawing from them.
If you wonder how you and your spouse should handle your finances or how you'll stop your spouse from withdrawing funds, contact me for a consultation.
I'll show you how I can help you and your spouse get on the same page and reach financial and marital harmony.
Want to level up your game around money in your relationship? My free quiz will help you learn your Couple’s Money Personality Type AND how you can grow from there!
Adam Kol is The Couples Financial Coach. He helps couples go from financial overwhelm or fighting to clarity, teamwork, and peace of mind.
Adam is a Certified Financial Therapist-I™, Certified Mediator, and Tax Attorney with a Duke Law degree and a Master's in Tax Law from NYU. He is a husband, dad, and musician, as well.
Adam's wisdom has been shared with The Wall Street Journal, the Baltimore Ravens, CNBC, NewsNation, and more.
