An account held in joint tenancy requires the account holders to act together and both signatures are required for withdrawals.

In joint tenancy arrangements, account holders typically have equal ownership rights and the ability to manage the account independently. This means that while both parties share ownership of the account, one account holder can often make withdrawals or take actions on the account without needing the approval or signature of the other holder. This flexibility is a defining characteristic of joint tenancy accounts, distinguishing them from other forms of account ownership that may require consent from all parties for transactions. Hence, the statement that both signatures are required for withdrawals is not accurate, leading to the conclusion that the answer is false.