Johanna Leggatt is the Lead Editor for Forbes Advisor, Australia. She has more than 20 years' experience as a print and digital journalist, including with Australian Associated Press (AAP) and The Sun ...

As a nationally recognized personal finance writer for the past decade, Jacob Wade has written professionally about banking and other consumer topics for Investopedia, Money.com, The Balance, ...

Editor's Note: APYs listed in this article are up-to-date as of the time of publication. They may fluctuate (up or down) as the Fed rate changes. CNBC Select will update as changes are made public.

A joint bank account is useful if you're combining finances, whether that means saving for a mutual goal, paying shared bills, teaching your children money management skills or starting a business ...