Good Short-term joint savings account

Scooby_Man

What's a good short term saving account. This account will:

- Have a direct debit payement from both mine and my wifes account

- Be used for incidental expenses, such as petrol etc

- Should not carry penalties for withdrawing money

Am I right in assuming any old current account will do?

Cheers in advance

klondyke

Pretty well any would 'do', but why not go for one which also pays decent interest on a current account eg Cahoot 4.31%. There may be even better paying ones, (in which case I'm sure someone will post) but Mr K and I have had a joint a/c with Cahoot for a few years now for general use such as you describe - and have been quite happy with it. (We do, of course, also use its savings a/c for stoozing, but that's another story/thread)

deemy2004

I use the halifax web saver coupled with the current account.

You can set up standign orders from the websaver to any halifax account, and transfer any time online instantly between accounts.

So its pretty easy to manage, and pays a healthy 4.9%

The only negative is that the cash does have to travel via your current account if you want it to go to external institutions.