Slightly strange joint account question

Cleaver

Just wondered if any of you kind souls could help out with a quick query.

The missus and I want a new joint bank account. We're not really bothered about the current account itself, as long as we can pay for stuff in shops, withdraw cash and do transfers then we're happy.

But we would like an account that has pretty good online banking, faster payments and (this is quite important) has a online transaction list that shows who has done what out of the two of us. So for example, if one of us gets cash out or buys something using their card we can check online to see which one of us it was.

Our current online banking doesn't show who bought what, which is a bit annoying.

elvis86

Sounds like you don't trust each other? Slightly worrying. My friend and I live together and have a joint account, and we don't feel the need for that kind of control over it! :S

If one of you is that bad with money to warrant the other checking up on them, I'd be tempted to put everything in the more responsible person's name!

Cleaver

elvis86 wrote: »

Sounds like you don't trust each other? Slightly worrying. My friend and I live together and have a joint account, and we don't feel the need for that kind of control over it! :S

If one of you is that bad with money to warrant the other checking up on them, I'd be tempted to put everything in the more responsible person's name!

Blimey, no, there's complete trust! Think you've read a bit more in to my post than I intended.

We have a budget system where we stick our money in to virtual pots (geeky I know, but it works). Ever week or so we record what we've spent our money on that week: bills, house stuff, food, petrol and then we each have a personal budget to spend on whatever we want. Some people might find this over the top, but it works for us and means we don't spend more than we should. Started it about 5 years ago and it works really well.

Our current bank doesn't state which card did what, so if we've both made about 5 cash withdrawals through the week, both bought stuff at similar shops, both paid for travel then we forget who did what and it makes it difficult to record.

I earn about double her salary, but she has access to all the money I have access to, so there's definately trust there.

MrsManda

I'm not sure any standard current accounts will do this. If you compare your debit cards you'll probably find they have the same card number and therefore are indistingushible.
My OH and I have a similar system to you - 'virtual budget pots'. We go through it once every month or so but we use Microsoft Money which allows us to download all the credit & debits cards, bank accounts etc... into the budget so we can see how much we spend on various categories.
We also both have 'nice things' money which is separate - mine gets put into my student account by DD every month to spend on anything which isn't budgetted for but I want to get - OH usually buys computer games with his and I buy books
Like you, he earns considerbly more than me and the nice things money actually sprung from me feeling guilty about spending 'his' money - drove him up the wall
The only way I think you could have accounts where you can see who spent what where is to have two joint accounts and each of you only have a card for one. That way you'd both be able to see the expenditure and know who spent it. Though it does seem a bit faffy

Mikeyorks

I don't know anywhere that fingerprints the separate card transactions like that. Short of keeping a spreadsheet - which then defeats the object, if you're not sure who withdrew what! I think you can only do what you're proposing with separate accounts. (move anything 'for cash' into separate websavers that have associated cards ...... but that's a bit like sex only on saturdays, bit clinical??)

I stick the OHs housekeeping into a separate account for her to abuse / she keeps her part-time job money in cash ..... and I pay all the bills etc out of a joint one, she doesn't otherwise touch. Somehow I'm losing out a bit (?) ..... but it all seems to work

Rao_Vantika

Cleaver wrote: »

Blimey, no, there's complete trust! Think you've read a bit more in to my post than I intended.

We have a budget system where we stick our money in to virtual pots (geeky I know, but it works). Ever week or so we record what we've spent our money on that week: bills, house stuff, food, petrol and then we each have a personal budget to spend on whatever we want. Some people might find this over the top, but it works for us and means we don't spend more than we should. Started it about 5 years ago and it works really well.

Our current bank doesn't state which card did what, so if we've both made about 5 cash withdrawals through the week, both bought stuff at similar shops, both paid for travel then we forget who did what and it makes it difficult to record.

I earn about double her salary, but she has access to all the money I have access to, so there's definately trust there.

Lloyds TSB do that on their account. Certainly on the classic. It shows the last four digits of the card used to pay / withdrawl on the statement, so assuming the card number is different for each cardholder this would work.

HTH.

glider3560

RBS statements show the last 4 digits of the card number for each transaction. Not sure if they show this information online or whether it is only available on paper statements?

elvis86 wrote: »

Sounds like you don't trust each other? Slightly worrying. My friend and I live together and have a joint account, and we don't feel the need for that kind of control over it! :S

Great! You are now both "financially linked" for at least the next 6 years.

elvis86

glider3560 wrote: »

RBS statements show the last 4 digits of the card number for each transaction. Not sure if they show this information online or whether it is only available on paper statements?

Great! You are now both "financially linked" for at least the next 6 years.

I'm well aware of that, but can't envisage it being a problem to be honest. We've known each other for 10 years, lived together for 2, both never default on anything, I trust him implicitly. I'm sure there are countless people who become "financially linked" with a partner after a much shorter period than that!:D

blueberrypie

Cleaver wrote: »

Our current bank doesn't state which card did what, so if we've both made about 5 cash withdrawals through the week, both bought stuff at similar shops, both paid for travel then we forget who did what and it makes it difficult to record.

Could you not simply both keep your receipts and, when you sit down to record your spending each week, use those to work out which of you each transaction belongs to?

Cleaver

blueberrypie wrote: »

Could you not simply both keep your receipts and, when you sit down to record your spending each week, use those to work out which of you each transaction belongs to?

We could. But the much easier way is just to log online and quickly note who did what.

Thanks for all the help from everyone. It's not a majorly important thing or anything; I have a vague life so I'm not going to lose any sleep about the issue, but thought I'd ask! Lloyds TSB sounds like an option.

Cleaver

Mikeyorks wrote: »

...... but that's a bit like sex only on saturdays, bit clinical??)

We've been together nearly a decade, nothing wrong being organised and slightly clinical.