<prompt> Human: Not sure if this is the place for this, but Im looking for advice. I opened a student account at a large bank a couple weeks ago, my dad co-signed since Im 17. My mom had wanted to sign as well, but wasnt there when we opened it. Theyre divorced. Now shes saying I have to open a different account with her so that she can send me money, because theres a fee or something for sending money from her bank to mine. I have a bunch of grad party checks from the party at her house that I feel like I really should be depositing, but shes insisting I put them in an account that she Can deposit money in, in an emergency. Will a second account be a bad thing to open? What are possible ramifications? The student one is free until Im out of college, my mom hasnt said anything about what kind of account shes expecting to open.Im really new to all this financial stuff, I did alright in Econ, but I dont even know what I dont know here.  <response>: Theres nothing bad about having multiple accounts. If she feels like the easiest way to deposit money for your use is to have an account in both your names, there is not really any reason to avoid that. There are other ways to send money from one account to another, but maybe she feels more comfortable or that its more convenient doing it that way, and I dont really blame her - it is pretty convenient not fiddling about with 3rd party apps or whatnot, just linking bank accounts directly from your bank. I have several accounts with several different banks, for different reasons. Nothing wrong with that. That said, you should definitely have a bank account that is not also co-owned by your parents, because if its owned by both of you, your mom could just as easily and as legally! take money out as put money in. Maybe your mom is completely trustworthy, but Ive heard too many horror stories. Have an account for you and her, have an account for just yourself though granted, you might need to wait until youre 18 for that, then link your private one to the joint one but not vice versa, that way she can send you money but not take your money. ; 