Joint Cheques - No Joint Account!!

steven77

Hi All

I need some advice, this must be the place to get it. When my wife and I got married a few weeks ago, some cheques were payable to me and some to both of us. Now we want to cash the joint ones but we don't have a joint bank account.

The main reason for this is that my wife has a very poor credit rating including an IVA, so I was always reluctant to open a joint account and have my rating tarred with the same brush as it were, but now we need the pennies!!

I have a Basic Bank Account which we use as a Joint Account with IF, but they have said they can't offer a joint account. If anyone has any advice out there it would be greatly appreciated....

Thanks, Steven

97trophy

Why not open a basic bank account with one of the high street banks?

steven77

But will this get around the problem of the credit rating?

AbbeyDhabi

steven77 wrote: »

But will this get around the problem of the credit rating?

In a word, no. You will have an association with your wife and will almost certainly have you rating 'trashed' as you say. If the cheques are uncrossed, you may find an account which will allow the cheques to be deposited.

The only other two options are one of the cheque cashing shops, although they will charge and I'm not sure if they accept hand written cheques. The last alternative I can think of is to ask for the cheques to be re-written, although I appreciate how embarrassing this could be.

CLAPTON

open a joint savings a/c ... there will be no financial association or credit checks.

steven77

That sounds a much better idea.... is it correct? I'm not questioning you but I do need to make sure before I do it obviously!!!

AbbeyDhabi

Actually the savings route is a good idea. Make sure you get a firm assurance from your bank of choice that no link will be created, some of these account may indeed create a link.

onlypaddy

AbbeyDhabi wrote: »

Actually the savings route is a good idea. Make sure you get a firm assurance from your bank of choice that no link will be created, some of these account may indeed create a link.

Savings accounts create a link too. We were told otherwise when opening one but lo and behold the link was made.

OP - ask the people who gave you the cheques to give you a new one in only one persons name

steven77

This gets more and more complicated!! I've just read elsewhere that if my wife and I go to the bank together and explain about the situation they may be more sympathetic...

Pete*G_4

do you & your wife bank at the same place? If so, I suggest you both go into the branch, take ID and a marriage certificate, and ask if they will deposit a joint cheque into a single account. If both parties named on the cheque agree and are present (which you will both be) then I can't see the problem with them doing it. My bank has allowed me to put cheques in my name into my wife's account, providing we were both there and with ID etc as she was on maternity and I had to pay her bills!

if you do go in and ask for this though, it is at their discretion I beleive, oh and be prepared they'll try to sell you a joint account at every opportunity!!

steven77

That sounds a much better idea... we're not unfortunately at the same bank but if we go in and speak to them I reckon we've got more chance if we take ID etc. We can't be the first people to get joint cheques with no joint account surely?