Are there any members working for retail banking? I'm not so familiar with the procedures/banking laws now (I'm with corporate) and would need so clarification.

Person A and Person B have an AND account which means both signatures are needed for withdrawal. Amount to be withdrawn is at least P500k. Funds are in a local bank. There is no movement in the account for several years.

1. Is it possible for both to sign on the slip but only one person will be physically present to withdraw the funds from the joint account? If not, what are the requirements so only one person can make the withdrawal? I would suppose since the amount is significant and with no activities, the bank will be more mahigpit? Or is it better to make small withdrawals to pool at least P500k?

2. How many P500k withdrawals can be made?

3. Can one person do a wire transfer? What are the procedures and what is the maximum amount?

4. How can they separate the joint account without the other person being physically present?