Group Student Bank Account?

Xen6

I'm an undergraduate student in the UK. I currently have my own student bank account, but next year I'm moving into a house where we'd like to set up a group bank account.

Can we apply for another student account even though we each already have one?

Is it easy to arrange access for all of us?

And if student account is out of the question, any advice on different bank accounts would be appreciated

greenorange

Do not open a bank account with other students. It will link your credit ratings together, so if one person runs up a huge debt, it can negatively affect your credit rating.

Just open a basic bank account in any of your names and get everyone to pay into it. Maybe a Halifax reward account, so you get £5 (if you pay in enough) for free.

Mikeyorks

Xen6 wrote: »

we'd like to set up a group bank account.

As the other response - avoid at all costs. It could devastate your credit rating(s) for a long time.

Use one of your existing accounts - or set up a basic account in one name. Or allocate bills to individuals. Whatever - but no joint account.

realaledrinker

You would also each be jointly and severally liable for the whole debt if things went sour.