New joint account for bills?

kezby_2k

Hi,
Wondering if anyone can help.
My boyfriend is moving in with me in around 2 months time, and I want to set up an account (Doesnt have to be in both of our names, if it helps!) so that we can both pay in a certain amount of money each month for rent, bills, etc.
We'll be paying about £800 in each month, and will be transferring direct debits AND setting up new ones.
Whats the best account to go for? I need one with online banking, I have a good credit score, my boyfriends isnt great, but like I said, it can just be in my name if it matters.
Thanks,
Kerrie

partlydave

kezby_2k wrote: »

Hi,
Wondering if anyone can help.
My boyfriend is moving in with me in around 2 months time, and I want to set up an account (Doesnt have to be in both of our names, if it helps!) so that we can both pay in a certain amount of money each month for rent, bills, etc.
We'll be paying about £800 in each month, and will be transferring direct debits AND setting up new ones.
Whats the best account to go for? I need one with online banking, I have a good credit score, my boyfriends isnt great, but like I said, it can just be in my name if it matters.
Thanks,
Kerrie

If you can pay £1000 per month in try a Halifax Reward account and they'll give you £5 a month

kezby_2k

I dont think I'll be able to pay that much in a month.
With rent, and bills (Paying a bit extra each month so that we build up a little bit to cover big bills), it should be £800 ish between us. Money is tight at the moment so I dont think we can afford to pay anymore.

stclair

Does your other half have any adverse credit?

I would not recommend opening a joint account as you will become financially associated. This will then subsequently effect your ability to get credit in the future.

Who do you bank with at the moment?

Liz3yy

This is exactly what me and my OH did (liz33y) when she sold her flat in march 08. we only use it for the essentials, like putting food on the table, rent, utilities etc, We boh put in £500 a month to cover everything, No arguments, finacnial freedom beckons, with disposalble income on each of our personal accounts

Go for it!;o)

Clive

P.S we have a natwest ad gold accont for this which you get free mobile phone insureance, and breakdown cover with green flag

noh

Liz3yy wrote: »

.............P.S we have a natwest ad gold accont for this which you get free mobile phone insureance, and breakdown cover with green flag

£12.95 a month is not free.

http://www.natwest.com/personal/current-accounts/g1/accounts-with-extras/comparison-table.ashx

CLAPTON

virtually any and every bank provides suitable accounts for your requirement

just avoid any account that charges a fee

if your own bank allows multiple a/cs and you are happy with them then why not go with them?

if you travel abroad a lot and want to take advantage of zero foreign exchange fees on debit card transactions then try nationwide.

agsnu

stclair wrote: »

I would not recommend opening a joint account as you will become financially associated. This will then subsequently effect your ability to get credit in the future.

Until such point as you become financially dissociated.

If you set up an account in your name only, then your boyfriend won't be able to operate it at all. That means you can't "lend" him the card and tell him the PIN - that would be classed as negligent by the bank. You also can't give him your log-in details for online banking. If you do, then the bank will probably disclaim liability for any fraud.

kezby_2k

I currently bank with alliance and leicester. They are ok, so I might see about opening an account with them.
Agsnu, I wont need to withdraw money, so I wouldnt need to use the card at all - It will just be for transferring money into each month, to cover direct debits which will be coming out.
I really want to do it because while he isnt living with me, the bills come out of my account, but I find it a bit hard to keep track of what bills are coming out when (I've not been living on my own for very long so its taking a bit of getting used to!). I think by opening another account, we can transfer money on payday, and then pretty much forget about the bills. That way, the rest of my money is my own, and hopefully no surprise bills when I've ran out of money at the end of the month!

Liz3yy

noh wrote: »

£12.95 a month is not free.

http://www.natwest.com/personal/current-accounts/g1/accounts-with-extras/comparison-table.ashx

i didnt say it was! I said you get free breakdown cover with green flag and free phone insurance-both of which you would have to otherwise pay for!!!!!

kezby_2k

Well I had a quick look around, and the bank of scotland seemed my best bet from the ones I'd seen. Its free, offers online banking, no minimum deposit limit, etc etc. It doesnt offer interest, but its not something I see myself having any need for (As the majority of the money will go out each month, so there wont be much money 'resting' in the account). I've set up an account with them, and it was very easy!