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Account Ownership

Do you offer accounts for minors?

You must be at least 18 years old to open a Citizens Access Account. However,  we are open to offering accounts for minors in the future if we hear they are important to our customers. We'd love to hear from you at feedback@citizensaccess.com with your recommendations for the types of  accounts that are most important to helping you achieve your savings goals.

What types of account ownership are available at Citizens Access?

You can set up an account in your name alone, share ownership with another account owner or your account can be held in the name of a personal trust.  Please note, all Citizens Access accounts are opened initially as individual accounts, which means the account owner is the sole owner  until one of the below steps are taken to designate it otherwise: 

  • If you would like to add a joint account owner, each owner will have equal authority and rights regarding the account. At this time, a joint account may not have more than two account owners. 
  • If you would like your account held in the name of an established revocable trust, you can convert an individual or joint account as long as the current account owners are the Trustees listed in the Trust Agreement and the Trust tax ID is the social security number of a Grantor who is also a Trustee.
  • If you would like your account held in the name of an established irrevocable trust, you can convert an individual or joint account as long as the current account owners are the Trustees listed in the Trust Agreement.
  • We also offer our customers the ability to establish “informal” trust accounts (also known as “Pay on Death” or “Totten Trust” accounts) established in your name as trustee for the benefit of one or more designated beneficiaries. We also allow customers to assign an existing trust as the primary beneficiary on any of our accounts.  Please consult your legal counsel to determine if either of these approaches will meet your needs.  

Can I open a business account?

While we do not offer business accounts at this time, we are open to offering them in the future if we hear they are important to our customers. We'd love to hear from you if you have suggestions on how we can better help you attain your savings goals. Please email us at feedback@citizensaccess.com with your recommendations.

What types of trusts does Citizens Access support?

Citizens Access allows customers to assign account ownership to personal trusts, both revocable and irrevocable. At this time, we are only able to support trusts with up to 2 trustees and up to 2 grantors.  

We do not support accounts for business or corporate trusts.

Why can I only add a joint owner after I open my account?

We understand that you likely aren't with your joint account owner 24 hours a day, so we designed our account opening process to ensure our customers can start saving with us as quickly as possible first. The process to add a joint owner is quite simple and they can be added immediately after account opening or any time in the future online.

Can I have more than one joint account owner?

At this time, any single Citizens Access account may not have more than two account owners. However,  we'd love to hear from you at feedback@citizensaccess.com if having more than two owners is important to helping you achieve your savings goals.