Question

What is the difference between a single account and a joint account?

Answer 1

Answer:

Single accounts are held by one person, while joint accounts have two or more holders.

Explanation:

The main difference between a single account and a joint account lies in the ownership of the account, that is, in how many people can be owners of said account. Thus, single accounts can only have one owner, that is, a single account owner. On the other hand, joint accounts can have more than one holder, with which the bank account can be shared by several people at the same time.