"Both To Sign" joint account - Any available?

Sillychuckie

Hi. I was reading the difference between the "any can sign" and "both to sign" status of joint accounts.
Having done my research, I am interested in opening a bank account with another party on a "both to sign" basis.

I looked at Nationwide Flex account, and Halifax Reward account (and a few others), but they all seem to only support (according to theirs t's and c's), the "Any to sign" structure.

Can anyone please list institutions which have current accounts which can be operated on the "both to sign" model.
Thank you.
SC

BruceyBonus

I don't think there are any current account that will allow a "both to sign" system. How would debit card transactions be authorised? And how would you both sign cheques?

There are plenty of savings accounts that do this but not current accounts.

opinions4u

If I felt the need to have a both to sign account, I would feel the need to leave a relationship.

What are the circumstances for needing a both to sign account?

Sillychuckie

I thought it might be available on a current account, but the users would obviously have to forego some flexibility..
i.e. They would forego debit cards, and any cheques would have both signatories on it.

If this isn't possible on a current account, can anyone tell me if they are aware of a savings account which allows it, but also allows the paying in of cheques?
Thanks. SC.

Edit: In fact, a 'both to sign' on current accounts makes sense. It would mean an overdraft couldn't be set up for example, without all parties agreeing.
Are you sure what you have said is true?

BruceyBonus

Nearly all offline savings account will have an option to force both to sign.

Sillychuckie wrote: »

Edit: In fact, a 'both to sign' on current accounts makes sense. It would mean an overdraft couldn't be set up for example, without all parties agreeing.
Are you sure what you have said is true?

As far as I am aware, no current accounts have a both to sign facility although someone may prove me wrong.

willo65

As far as i'm aware Natwest you can do both to sign.

Sillychuckie

OK, thanks everyone.
Willo65, you are right about NatWest. Having checked the nitty gritty of their terms, they allow this (not by default), but upon request of either party. This answers my question.

Thanks for the info everyone, especially those that stuck to the subject matter at hand and just answered it, rather than trying to turn this into a debate about relationships and trust.
SC.

opinions4u

Sillychuckie wrote: »

OK, thanks everyone.
Willo65, you are right about NatWest. Having checked the nitty gritty of their terms, they allow this (not by default), but upon request of either party. This answers my question.

Thanks for the info everyone, especially those that stuck to the subject matter at hand and just answered it, rather than trying to turn this into a debate about relationships and trust.
SC.

I made a closed statement about relationships.

I asked an open question about why you needed a both to sign account.

Trying to ascertain a customer's genuine needs is a sensible way to help them find a suitable product. Asking questions is the best way to do this.

Sorry for offending you.

*judge*judy*

It might be for a society or charity,my mother-in-law used to be involved in lots of horse/breeders clubs which had current accounts where 2 signatories were required.

Extant

Barclays does them as well.

The reality of course, though, is that there's no online or debit cards etc. It's useless for anything apart from very specific circumstances.

mclaren32

willo65 wrote: »

As far as i'm aware Natwest you can do both to sign.

Thats correct, its a case of completing a "Joint Account Mandate" form to specify the signing rules on the account.