1) mobile banking (either online mobile or through app) should allow for complete control of bill pay - including cancelling a bill payment
2) joint accounts should be able to see all set-ups created by any party on any online account that has a joint stake in the account - specifically in bill pay
3) joint account parties should have the right to opt in on the default to keep other joint account holders from having access to the joint account settings that they set up individually. The default should not be cut off access.
4) the policy that 2 or 3 cannot be done because of security is a farce. Nothing stops either of us from seeing what was done, who did it, and when it was processed, nor are we blocked in any way from creating or removing our own spending obligations (bill pay, deposit, withdraws, credits, etc). we certainly can not be stopped from damaging behavior on joint accounts (overdraws, removal of all funds, etc), therefore claiming a security issue prevents joint parties from editing obligations made by any of the joint parties on joint accounts is ridiculous.
My wife and I have a joint checking, savings, and credit card account. WF requires us to have separate online accounts. This creates a sense of security, because if there is a problem I cannot deal with issues on her account through WF customer service.
This makes sense. If my wife opens her own checking account or credit card or what have you, I should not be able to access her online account and do whatever I may with her personal finances.
However, on joint accounts there is an unnecessary separation of information. My wife is not tech savvy, and so when we established our accounts we created just one web account on her specific debit card. I established all of our bill payments on that online account. She rarely touched the account. Sometimes she would get the password and lock both of us out of the online account. Customer service would not let me reset the password - again, this makes sense, but was frustrating. At WF suggestion I made a second online account in my name. However, this one does not show the online bill payments that I set up on her online account.
Recently, I noticed that our bill pay was paying our cable and that our cable was also our cable company was pulling money using autopay that I set up. When I tried to cancel the WF bill pay using their mobile app I could not see the bill pay in my account. After switching to her account I could not cancel the bill pay in mobile (terrible not to have full features on mobile). I called an agent who would/could not help me because I was not my wife. I finally cancelled it, using her account, using a desktop online access.
The issue here is, Why can't I see all of the bill payments associated to our joint accounts (checking, savings, & CC) and edit or cancel them on either online account? We agreed we wanted these accounts to be JOINT.
It's not like I can't see in my transaction history that a payment has gone out, that its reoccurring, and that she set it up (or that I set it up) - our names are labeled next to the transactions. Therefore, there's no privacy of transactions (ie, no real security there). What's the benefit of me not being able to access it on my online account?
Either of us can clean out the account, dump a bunch of money in it, set up payments to anyone/anywhere... but we can't stop payments made by the other? Stopping payments is the MOST secure item to have access to. Perhaps it would be conniving for me to cancel a reoccurring payment that she wanted to maintain, but that is best solved by her setting up a private account and using that account to maintain her reoccurring payment. Therefore, there really isn't any financial transaction security.
It's nearly 2020. There's definitely no excuse not to be able to set up a joint account bill pay on her online account and cancel it on mine. Certainly, if it came down to a dispute it would be simple to pull system data to prove that I had gone in and cancelled the bill pay she set up. At a minimum, the system should ask us if we wanted the settings (such as bill pays) that are associated with joint accounts to be viewable or editable by the other joint account holder(s). Probably this should be the default with an option to turn off sharing features.
The whole concept that this creates security is a complete sham. It makes the experience needlessly difficult and complicates managing our finances. It actually encourages less security! As stated before, I know and manage BOTH online accounts! Why? because it's the only way to manage our joint bill pays while honoring my wife's wishes to not have to do that chore. However, I also have the capacity to access personal accounts (if she had any) on her online portal. If I could access the joint settings (bill pay) from my account I literally would never even bother with her account.
Finally, If I haven't said this already. I wish it were possible to edit and cancel bill pay from the mobile site or app. Again, it's almost 2020 - get with the times.