Do you really need a joint bank account for your Partner Visa? The short answer is no. It’s not a legislative requirement to have a joint bank account for your Partner Visa application, but it certainly can be helpful in the right circumstances.
The question of ‘do we need a joint bank account’ is probably up there with the most asked questions when couples are putting together their application. It’s probably also one of the causes for panic for a lot of couples.
Let’s slow things down and talk about it.
Where does the joint bank account myth come from?
When you’re looking at the four pillars of a relationship, and specifically the financial pillar, joint bank account statements are usually always on a list of documents to provide as evidence of the relationship.
Over time, it’s been misunderstood that this is actually a requirement of the Department’s when in fact it’s not. In my experience, I’ve also had a lot of couples use someone else’s document checklist as a list of documents they also need to provide. That’s the first mistake – there’s no one checklist that fits all.
It can definitely be stressful thinking there’s a document you need for your Partner Visa, when it may not be necessary to start with.
When is it helpful to have a joint bank account for your Partner Visa application?
A joint bank account can be a great piece of evidence to include with your Partner Visa. If used and evidenced correctly, it can help to demonstrate how you and your partner share finances as a couple.
As an example, a joint bank account can make it easier for couples to show how they both contribute, how household expenses are paid and how long you have both been using the joint account.
In a lot of cases it’s a clear and simple way of supporting how you and your partner manage the financial aspects of your relationship.
When is it not helpful to have a joint bank account for your Partner Visa application?
Opening a joint bank account just for the sake of a visa and not using it properly doesn’t add any value to the application. If you have made the decision to open a joint account and want to use the evidence for your Partner Visa too, then it’s important you evidence it correctly. I’ve seen a lot of cases where a joint bank account has been opened but there’s then little to no activity on the account or only one partner is contributing to it.
What’s Immigration actually looking for when it comes to the financial aspects of a relationship?
Your case officer wants to see how you as a couple share and manage your finances. Remember that this looks different for nearly every single couple. They want to know whether you and your partner do things like share household expenses, have joint insurance policies, shared assets or liabilities, and transfer money to each other on a regular basis.
I’ve had couples who have all the above evidence, but I’ve also had couples who don’t share a joint bank account and don’t have any shared assets but their Partner Visas have still been approved. Why? Because the Department makes an assessment of your relationship on the four pillars of relationship, not the financial pillar alone.
Some of our most commonly asked questions when it comes to joint bank accounts
1. How long do we need to have our joint bank account?
Ideally you want to have a joint account that’s been actively used for at least a few months before lodgement of the application.
2. Does there need to be a specific amount of money in it?
No. It’s not really about how much money is in there – it’s about the activity and how you’re actually sharing and contributing to your finances.
3. Does our joint account need to be with an Australian bank?
No. Having a joint account is relevant for both onshore and offshore Partner Visas.
4. What if we only use our joint account for one specific purpose? (i.e. only bills or only social/fun spending)
This is generally fine as long as you are still providing other evidence of how you are sharing and managing your finances.
5. What if we only have a joint savings account?
This is also generally fine, but as long as you are again providing evidence of how you are sharing and managing finances. Having a joint savings account is great, but how are you managing finances on a day to day basis?
6. What if only one partner is working; is that still considered a joint account?
This is the beauty of Partner Visas and the reason why each case is different. You may have a couple where one party works full time while the other might be responsible for running the household and looking after children full time. It’s still considered a joint bank account even if one party isn’t contributing financially to it. The Department is going to look at your case and evidence as a whole. This is also where your relationship statements are super important to explain the dynamic of your relationship.
7. Should we include statements for our entire relationship or just the most recent months?
You should be providing bank account statements from the start of your relationship right up until lodgement. It’s important the Department can see when your joint account became active and how you have continued to use it throughout the course of your relationship.
8. Should we submit the transaction history or just the account summary?
You should include the transaction history.
We share all our expenses, but we don’t use a joint account
This is a common scenario. If you are sharing your expenses such as rent, bills, and general everyday expenses, then it’s important you evidence how you do this.
For a lot of couples, they use a system that works for them. For example, the applicant may be responsible for paying the rent each month to the landlord and the sponsor might then transfer their share of the funds to the applicant. In this scenario, you should both provide your account statements and highlight the relevant transactions that you show how you both contribute. It’s also a good idea to use cover letters explaining what you have highlighted in your individual statements and why.
Do you want clarity on your financial evidence?
You’re not alone in feeling unsure whether your financial evidence is ‘enough’. It’s also not something you need to second guess.
Through our Evidence Planning Session at The Partner Visa Academy, we assess the four pillars of relationship and come up with a tailored document checklist specific to your case. It helps take the guesswork out of what you need to provide.
Remember that a strong Partner Visa application is built on the evidence that you and your partner have, and what’s unique to you – not someone else.
IMPORTANT: Please note, this does not constitute Immigration advice. Always seek advice from a Registered Migration Agent before applying for an Australian Visa. Migration Law is constantly changing. This information is accurate only at the time of publication.
