Consult the definition of technical terms 

All of the FGDR’s protection schemes rely on relatively complex banking and financial mechanisms. This glossary provides definitions of many technical terms used on this website or in FGDR documentation.

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3 technical terms

J

Joint account (Multiple owners account)

Account opened in the name of several people. In a joint signatory account, the co-holders complete transactions on the account together. In a single signatory account, each of the co-holders can complete transactions on their own.

Source : FBF

Joint signatory account

Joint account opened in the name of several people. The consent and signature of all co-holders are needed to complete transactions on the account (no individual holder is entitled to claim full payment of the funds).

Source: Banque de France

Joint tenants account (joint account)

Multiple owners account opened in the name of two or more people who are not necessarily bound by a family relationship or alliance, called co-holders. To open a joint account, the co-holders must sign an account agreement. Any of the co-holders may complete debit and credit transactions on the account on his own – exactly as if he were the sole account holder – including deposits and withdrawals of funds, cashing of cheques, bank transfers, direct debit authorisations, etc.

 

Source: Banque de France i

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