Definition of «primary account owner»

The term "Primary Account Owner" refers to the person who initially opened an account with a financial institution, such as a bank or credit union. This individual is responsible for managing and maintaining the account, including adding or removing authorized users, setting up payment methods, and making transactions on behalf of the account. The primary account owner has full access and control over the account, and any changes made by this person take precedence over those made by other authorized users.

Sentences with «primary account owner»

Fee does not apply to primary account owners less than 13 years of age. (citadelbanking.com)
The Savings account needs to be opened in child's name, as primary account owner, to be eligible for Kid's Club Birthday Reward. (citadelbanking.com)
If you're the primary account owner, you can eliminate this fee by signing up for our e-delivery service, which allows you to receive statements, annual privacy notices, confirmations, and fund reports and prospectuses for mutual fund and brokerage accounts electronically. (investor.vanguard.com)
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