Financial Abuse and Joint Account

[WonderingYak]

NC for this and asking for a friend who is planning to leave her husband.

My friend has been financially abused. In a joint account with her husband she has a lot of money. When she leaves, she plans to transfer some money out the joint account to allow her to rent a place of her own.

I'm worried when this happens the transfer will be blocked by the bank for security. If this happens, what is the process for releasing the money? Will her husband have to approve the transfer also? What can she do to make sure she can get some money?

For example, they have something like £100,000 in the joint account and she wants to take £10,000.

I can give more info if needed.

They need to check the online transfer limit for that account, this will depend on whether they are transferring to a different bank, or if the accounts are with the same bank, the type of account and if they are doing the transfer on an app

I believe that she should be able to do this (within applicable limits above) without the permission of the other card holder but she should check that with the bank

I've transferred similar large sums from a joint account (not in the same situation though!) and no verification from the other account holder was needed and the transaction didn't get stopped.

However my DH did get a notification from the online banking app about the transfer - we both get notifications of transfers in / out of the account regardless of who made it, so that might be something to watch out for.

If her other half has online banking he will get immediate notification of the money leaving the account. Not sure if his bank would be able to recall the payment if he contacted them immediately though.

It depends, if she's honest for the reason for the transfer they will likely block the account. If she doesn't tell them the reason they won't. Is it an account where they both need to sign to remove funds?
If it's £100k she needs to take her fair share as once she's done one transfer and he knows then she probably won't get anymore before he moves it.

I recommend she doesn't tell him before she leaves in case he locks down the finances, gathers all financial information she can while she has access and sees a good family law solicitor.

I also advise that she takes half of the joint account when she leaves but she needs advice first.

Thank you for all your responses. I will share this with her.

I'm not sure on the details re them both having to sign. But I don't think that's the case.

I'll get her to check the online transfer limit too.

There are limits on how much you can move each day. For example my bank only lets me move £25 k a day, so when I needed to move a 90k house deposit it took me four days.
So tell her to check this out and move the maximum on the day she decides is moving out day