Converting a joint account into an individual account – this is how it works!

When a WG dissolves or is dissolved, one often considers how to proceed with the WG account. Sometimes the question arises whether a joint account can be easily converted into a single account. In this article you will learn how such an account conversion works and what other ways there are to deal with a joint account.

Converting a joint account into an individual account – how it works?

In principle, a bank does not have to agree to the conversion of a joint account into an individual account. As an account holder, you have no legal right to account conversion. It is rather at the discretion of the bank whether the account conversion is approved or not. However, there are credit institutions that allow such a conversion under certain conditions – so theoretically possible.

Conditions for account conversion: these conditions must be met when converting to a single account

In order to convert from a joint account to a single account, certain conditions must be met.

It should be entered without an overdraft on the joint account. The reason for this is that with a partner account, the owners are jointly and severally liable. Ideally, therefore, they jointly offset a negative balance.

In addition, it is practical to have an account balance EUR 0.00, as it makes the conversion easier. If there is still credit on the joint account, it must be distributed fairly among the account holders – depending on the agreement. In addition, all account holders must agree to the conversion.

The alternative to account conversion: close the joint account

The conversion of a joint account into an individual account is theoretically possible. In practice, however, it depends on the bank whether it agrees to the account changeover. Since this process is not possible at many banks, it is recommended to close and open the joint account. Open a new current accountthe

There are no disadvantages to opening a new personal account. Unlike a joint account, you only manage it yourself, without other co-owners.

Tip: compare offers

If you open a new account, you can use this situation to compare bank offers. In this way, you can find the best possible conditions for his personal single account with. A personal criterion may be, for example, the absence of fees. Read our article on comparing joint accounts.

These steps must be followed when closing and opening an account

First you need to make sure that you open a new current account. This requires confirmation of the relevant privacy policy and your identity. This can be done in various ways – for example, by mail or via webcam. In addition, there are other steps that are always taken when opening an account.

  • The opening request can be made online
  • Identification by mail, in person with ID or webcam
  • Provision of personal data and salary data
  • As a rule, schufa information is obtained from the bank

After opening the individual account, the joint account must be terminated. Here it is very important to close such an account only with the signature of all current account holders can be successfully executed.

You can find out what information is required to terminate a joint account and what you need to bear in mind when closing an account in this way in our article on closing joint accounts.

Convert joint account to AND account

If the partner account was previously managed as an OR account, you can also arrange for the conversion to an AND account as an alternative to the single account. So you can only both account holders together has the account. Such a conversion is possible at any time and is simple. Therefore, the AND account can serve as a temporary solution, for example, during succession clarification.

Whether an account or a joint account depends on several factors.

Debts of a joint account holder: open a single account

If one of the joint account holders is overindebted and threatened with foreclosure, the joint account can also be used to pay off debts. You need to make arrangements early, especially if the joint account is managed as an or account.

Depending on the bank, the joint account can be converted into an individual account if there is a threat of foreclosure. In this way, there is no risk that the assets of the participants will be used to repay debts. If this is not possible, it is still advisable to open a new current account.

In the case of an individual account, it can also be managed as a P-konto – this way, a part of the assets is secured for the underlying commission. For more information on this topic, see our article on decorating joint accounts.


The most important information from this article has been clearly summarized once again: