Shared Accounts, available for US-based Casa Platinum and Diamond members, is a formal method of account setup which allows up to two individuals to share equal access to a Casa account, as well as the bitcoin protected by that account.
Shared Accounts allow up to 2 people to equally share all information and credentials for a single Casa account. This includes account password, hardware wallet devices, and access to the Casa Recovery Key.
Why would I use Shared Accounts?
Using Casa's Shared Accounts feature is optional, and may not be right for everyone. Shared Accounts may be a good option to consider in the following situations:
- Account co-management - you wish to actively co-manage a Casa account with another person.
- Legacy Planning - you wish to manage the Casa account yourself, but want control of the account to be easily transferred to a person of your choosing in the event of your passing.
Remember - shared accounts gives others equal access to the bitcoin secured by the account. This may be a spouse, sibling, account executor, trustee, your adult son or daughter, or someone else. It's very important that the person you're sharing an account with is over 18 years old, and is someone you would trust ALL of your bitcoin to.
Is there an additional charge for using the Shared Accounts feature?
There is no additional charge for using the Shared Accounts feature beyond the standard Platinum or Diamond membership dues.
What do I need to setup a Shared Account?
Currently, we are offering the Shared Accounts feature to US residents only.
To get started with Shared Accounts, you will need:
- Shared email account
- Shared login credentials
- Shared access to hardware devices and PIN code(s)
- Shared access to the Casa Key
- Legal first and last name
- Government-issued I.D. such as a driver’s license or passport
If you already have a Casa account, please let a Client Advisor know, and we can assist with changing the email address associated with your Casa account.
How do I set it up?
Once you purchase your Casa membership, or (if you are an existing Casa Platinum or Diamond member) have notified your Client Advisor or your desire to transition your account to a shared one, you will receive an email with a link to register both members.
After you submit the Shared Account application, a Client Advisor will review it and notify you if you need to make any corrections to your application.
One you get the "green light" from your Client Advisor, the next step is to set up your multisig wallet. You can do this with or without the direct support of your Client Advisor. New customers will automatically get appropriate booking links for the onboarding process.
When setting up your account, keep in mind:
- Both members will share the log-in credentials for Casa app. This is most easily facilitated through a password manager.
- Once you receive your Casa package, you’ll set up the hardware wallets and connect them to your Casa Key Shield. Both members must have equal access to the hardware keys and know the PINs.
- The last step is to activate your Key Shield by setting up the Casa Key. Make sure that both members are in the photo when setting up the recovery photo. This means that BOTH members must be on the video call when requesting the Casa Key.
Once you activate your Casa Key Shield, you will receive an email to do a final security review with a Client Advisor. On that call, your Client Advisor will confirm that all members of the shared account:
- Have access to the shared email as well as the Casa account
- Know the PINs to the hardware wallets
- Know the location of the hardware wallets and the seed phrase
- Are in the recovery photo for the Casa Key
- Provide a shared duress word and emergency contact person
At the end of the call, the Client Advisor will formally approve your shared account.
What happens in the event of account holder death?
In the event of the death of an account holder, the other member maintains sole control of the account, as well as custody of the bitcoin. Casa will assist the other member in converting the shared account into a personal account.
The surviving member will:
- Schedule a call with Casa
- Provide a notarized death certificate
- Provide a new personal email for the Casa account
The Casa Client Advisor will:
- Register the death certificate on file
- Note the new proposed account email
- Send a confirmation email acknowledging the request to convert from shared account to personal account
- After a one week waiting period, the Client Advisor will change the email of the account to the personal one provided and reset the recovery photo
Lastly, the member must then take a selfie inside Casa app to register a new recovery photo. Once submitted, the conversion of the shared account to a personal account will be completed and the member will have sole access to the Casa Key.
Why do I need to submit ID documents for Shared Accounts?
When one person passes away, we will need to verify the identity of both members in order for us to help them convert the Shared Account into a personal account. This will require providing a notarized death certificate as well as the other member providing a government-issued I.D.
What's the difference between Shared Accounts and Inheritance?
Inheritance, available at the Diamond level of membership, is a different product than shared accounts, and offers some benefits over shared account.
- Inheritance package for your Recovery Custodians
- Ability to add multiple people to your inheritance plan. Up to two Recovery Custodians and one Shared Account member.
- Ability to restrict access to your bitcoin for Recovery Custodians till after you pass away
If you'd like to learn more about Shared Accounts or other aspects of Platinum and Diamond membership levels, you can book a call with our team here.