Merging accounts?

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Replied by FrugalFran on topic I know they can in certain circumstances

2darnbroke wrote: I think the most difficult part of that would be because there are two different people involved so two different credit histories, etc. The only time I've experienced a merging of two accounts was when Bank of America bought out FleetBoston. I had current credit cards with both banks and suddenly both cards were Bank of America cards. It got confusing for both me and the tellers, who kept putting my payments on the wrong accounts. I had to go up the food chain in order to get someone who could do it, but I did get those merged.


My husband has this situation now with Capital One. He had a Capital One card and an Orchard card and then Capital One bought out Orchard. I haven't thought about merging them because Capital One has done a nice job organizing them on their website, but maybe it's something we'll look into in the future.
3 years 4 months ago #1

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Replied by Moneyes on topic Merging accounts

That sounds like a very good compromise. It is, technically at least, the merging of 2 accounts via the 1 payment method. Married couples do this with bills all the time.
3 years 4 months ago #2

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Replied by FrankN on topic Merging accounts?

That is a good point, you have to make sure the effort required to merging the accounts is worth it.
3 years 9 months ago #3

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Replied by Egghead on topic Merging accounts?

I agree that this is a good solution. The person who asked needs to get power of attorney in place to safeguard themselves in this and any other financial issues that will arise. Making payments for their mother from their own pocket is only a short term solution.
3 years 9 months ago #4

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Replied by 2darnbroke on topic I know they can in certain circumstances

I think the most difficult part of that would be because there are two different people involved so two different credit histories, etc. The only time I've experienced a merging of two accounts was when Bank of America bought out FleetBoston. I had current credit cards with both banks and suddenly both cards were Bank of America cards. It got confusing for both me and the tellers, who kept putting my payments on the wrong accounts. I had to go up the food chain in order to get someone who could do it, but I did get those merged.
3 years 9 months ago #5

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Replied by Breakinger on topic Merging accounts

This is really interesting. I've always wondered how something like this would work out. I have a couple of different opened accounts that use the same bank and was curious if they actually could combine the two together. It makes a lot of sense that they would close the two accounts out and make a new one. I would really like to know how you made out with this, DSDYER.
3 years 9 months ago #6

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Replied by FrankN on topic Merging accounts

I actually have "merged" 2 accounts before for a different situation. I went to the bank in person, but what actually happened was the 2 accounts were merged into a new co-account with another individual. What the bank really did was close the 2 accounts and created a new account, but that was all behind the scenes for me. I would not necessarily recommend it unless you really needed to do it.

There are other alternatives such as getting you access to your mother's account. You should be able to easily transfer assets to her account as well. Let us know how this turned out so everyone can learn from your experience.
3 years 9 months ago #7

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Replied by Janet19 on topic Merging accounts

I've never heard of two accounts being merged before. However, you could easily set up automatic bill pay to have both credit cards draft payments from one bank account.
3 years 10 months ago #8

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Replied by Sasha on topic Merging accounts?

I don't believe that you can merge an account, however, you could always be added as an authorized user to your mom's account and then possibly close your account. That may be an option worth looking into.
3 years 10 months ago #9

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Replied by FrugalFran on topic Merge account

I don't think they would allow it, although theoretically, it seems like a reasonable request. If you ask to take on someone else's debt, you'd think they would let you since it's what you want, but there is probably a ton of legal mumbo jumbo that will prevent it.
3 years 10 months ago #10

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Replied by patse on topic Merge account

I'm curious to know how this turned out. I have never heard of a bank letting you merge two accounts together when the account holders are different people.
3 years 10 months ago #11

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Replied by BloodFood on topic Re: Merging accounts?

See the scenario is that you can have a shared account, but what you are demanding is the extension of this phenomena, not sure about this but have heard that banks are providing such services on request.
4 years 4 months ago #12

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Replied by Wanderer on topic Re: Merging accounts?

My Mother and I both have a First Premier credit card.
My Mother has had a stroke and is unable to take care of herself.
I'm having to pay all her bills and it looks like I'm going to have to assume part of the debt.
It would be so much easier on me if they would merge the 2 accounts so I could make only 1 payment.
is this possible?

The answer with this would be with First Premier Bank. In my own experience this has not been an option but, banks are ever looking for enhanced services.
4 years 8 months ago #13

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My Mother and I both have a First Premier credit card.
My Mother has had a stroke and is unable to take care of herself.
I'm having to pay all her bills and it looks like I'm going to have to assume part of the debt.
It would be so much easier on me if they would merge the 2 accounts so I could make only 1 payment.
is this possible?
4 years 8 months ago #14

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