Joint Current Account?

poorrich

Hi Guys,

Myself and my girlfriend are looking to set up a joint current account from which we can pay our rent and bills from when we move into our new flat in a couple of months. We will keep our indvidul accounts to be paid into and have a joint 'house' account. Can anyone reccomend a good account for us to do this with?

Also will having a joint account make any difference to our individual credit score?

Cheers

Rich

YorkshireBoy

poorrich wrote: »

Can anyone reccomend a good account for us to do this with?

One at a bank one (or both?) of you currently bank with will minimise delays in transferring money.

Also will having a joint account make any difference to our individual credit score?

You'll both be dragged down to the lowest common denominator, yes.

If one of you has a poor credit rating/history, it will affect the other due to the financial association established with the joint current account.

poorrich

We are both with different banks at the moment any way so who ever we go with there will be some sort of a delay I guess. HSBC and Halifax are who our individual accounts are with at the moment.

YorkshireBoy

The introduction of Faster Payments will eliminate the transfer delay. However, Halifax aren't fully operational yet for sending, but HSBC are.

I have current accounts with both providers and I'm happy with them both (for different reasons). Your choice really.

opinions4u

poorrich wrote: »

We are both with different banks at the moment any way so who ever we go with there will be some sort of a delay I guess. HSBC and Halifax are who our individual accounts are with at the moment.

Both excellent online providers.

It may be worth looking at the packaged account offers and paying one fee via the joint account for "free" travel insurance etc. Halifax one is called "URCA" - I'm not familar with the HSBC options.

Check out the two sites and work out if one provider or the other works best for you.