Which of the following describes a joint bank account?

A joint bank account is defined as an account that requires the signatures of at least two individuals to conduct transactions. This structure allows multiple people to share access to a single account, making it a common choice for couples, business partners, or family members managing shared finances.

Having at least one other person for signatures is essential because it ensures that all parties involved must agree on transactions and have equal access to the funds. This collaborative approach fosters trust and accountability among account holders.

The other choices do not capture the essence of a joint bank account. For example, an account operated by a single individual pertains to individual accounts, which lack the shared access characteristic of a joint account. Describing an account as used exclusively for trust funds refers to a specific type of account with distinct legal purposes, while stating that an account is open only to minors restricts accessibility and functionality that a joint account typically provides for individuals of varying ages and circumstances.