Currently, it is not possible to use the connect feature with joint accounts. I confirmed this with the support.
Unfortunately, this is not documented anywhere. I got the following feedback on why that is:
The reason why it's not explicitly mentioned that these features can't be combined is because they offer such different things in the first place. That way, we want to give you the freedom to choose how you want to share your account and to what degree ✨
I strongly disagree with that. Especially because these 2 features are so different and offer such different things in the first place, there is no reason to suspect they are mutually exclusive. One is more for bookkeeping purposes, the other one for extended collaboration.
That is the precise reason why removing that limitation or extending the documentation would make a lot of sense.
So either being very transparent with the users, by documenting it or allowing for the combination of the features to allow further use cases.
One of them might be
A shared flat with multiple main renters & some regularly changing members.
The main renters want to be co-owners of the account and want to invite the others for the time of their stay.
Another one would be
Parents or any amount of relatives and a few kids.
The parents or relatives want to be co-owners of the grocery account & invite their kids to the account for as long as they live under the same roof.