which joint savings account?!?!?

downs523

me and my partner are saving for our wedding and house. we need a joint savings account that requires both of us to sign/give permission for any withdrawals.

can anyone reccommend an account?

Hungerdunger

I believe most accounts give you the option of either-to-sign/both-to-sign.

Best bet is to look at rates and types of accounts, make a shortlist, and then check with the providers that they do offer this option

downs523

looked at icici/ nationwide and halifax all seem to have the "either to sign option will have to keep looking around!

TomsMom

Tesco Internet Saver:

With a Joint Account, we may act on written instructions sent by post by either of you; or instructions received over the telephone and the Internet by either of you registered as Users of the Telephone and Online Service. This means that either of you will be able to withdraw the full balance unless you have provided us with alternative instructions.

Northern Rock e-saver:

We may act on instructions given by any one of you, unless one of you advises us not to, in which case we will only act upon the instructions of all account holders.

Both these accounts will allow you to instruct them that both of your signatures/permission will be needed.

Hungerdunger

I've just realised that you posted the same question a few days ago here. As someone who has had various either-to-sign accounts with his partner for some thirty two years, this concern of yours doesn't sound very promising for a trusting relationship. Can you tell us why you need a both-to-sign account?

downs523

my girlfriend wants to, as we have just under 10000 but its in an account under just my name

downs523

TomsMom wrote: »

Tesco Internet Saver:

With a Joint Account, we may act on written instructions sent by post by either of you; or instructions received over the telephone and the Internet by either of you registered as Users of the Telephone and Online Service. This means that either of you will be able to withdraw the full balance unless you have provided us with alternative instructions.

Northern Rock e-saver:

We may act on instructions given by any one of you, unless one of you advises us not to, in which case we will only act upon the instructions of all account holders.

Both these accounts will allow you to instruct them that both of your signatures/permission will be needed.

how can these internet savings accs allow you to both sign when you log in online to move money? e saver is internet only aint it?

TomsMom

downs523 wrote: »

how can these internet savings accs allow you to both sign when you log in online to move money? e saver is internet only aint it?

I don't actually know the answer to your question, we have both these joint accounts but have opted for either to sign.

However, I would imagine (and you would need to check with both financial institutions) that if you opt for both to sign then they have something in place that will not allow you to withdraw in the same way as an "either to sign" account. If they offer the option then they must have a way of working it successfully.

downs523

thanks mate, ill give the banks a visit or call to see exactly what they offer.

YorkshireBoy

I think with internet accounts the "both to sign" issue might only apply if one of you notifies them of a relationship breakdown.

It's often written into current account T&C's and usually involves a blocking of the account until things are resolved to the bank's satisfaction.