Guidance on Joint Accounts

Introduction

These notes on Joint Accounts are gathered from Subject Matter Expert responses to participant questions.

Management of vulnerable customers with joint accounts

Managing vulnerable customers is at the discretion of the Data Holder (DH). The CDR Rules and Standards are not prescriptive when it comes to how DHs identify, support, and manage vulnerability. This is because DHs have their own systems and processes that manage vulnerability issues. The management of vulnerable customers is not consistent across DHs and hence there is no universal standard as such.

Data holder dashboard first share date for joint accounts

The joint account disclosure date may be different to the individual account disclosure date. The data cluster shared from the joint account is different to the data cluster shared from the individual account. It is shared at a different time on a different account, with some similar content and possibly with some different content. Consequently, the date for disclosure on the joint account may differ from the date on the individual account.

Scenario for revocation of consent on Joint Accounts

In a scenario where both Joint Account Holders (JAH1 and JAH 2) provided their nominations on Joint Account A, then if JAH1 creates a data sharing consent on the joint account and if JAH2 revokes their nominations, then the HTTP status code will depend on the method the account is being requested.

If the accountId is provided in the path of the URL then a 404 (Not Found) applies. However, if the accountId is requested via the request body (e.g. Get Balances For Specific Accounts) then a 422 (Unprocessable Entity) applies.

Informing ADR when other joint account holder provides approval

There is no technical mechanism or requirement for the DH to notify the ADR when the second joint account holder approves sharing. The 'single consent' model in the v3 CD Rules makes this redundant as joint account sharing is 'on' by default. The other joint account holder does not have to agree to enable data sharing before it can be shared.