Joint Bank account

bhoy1976

Hi,

My girlfriend and I are looking for a joint bank account that we can pay half of our salaries into each month to cover our joint finances for the home etc.

Ideally, I would prefer not to have an overdraft on this account but would definitely forego this so long as we each had a Debit card for the account.

Any ideas?

Cheers

bhoy1976

Gonzo33

Any bank will be able to help you with this. Maybe discuss your preferences and go from there.

zerog

Just tell them that you don't want an overdraft.

InsideInsurance

If either of you have packaged current accounts (ones where you get things like travel insurance in exchange for a monthly fee) it may be worth considering using a package account for the joint one so you both get the benefits in exchange for a single fee and then have basic accounts for your personal ones.

MrChandlerBing

Me and my missus have a joint natwest(ha!) gold account. I think its £13 a month but it covers both of our iphones and also give us break down recovery which I have used. Good value for us

SuperHan

I have a Joint Halifax reward account that costs £10 a month (provided it is funded with £1,000 each mont, £15 otherwise) which offers travel insurance, breakdown, mobile phone insurance and all the usual bumph. Also gives a £300 interest free overdraft, which I think is silly to turn down on a bill paying account - we have it just in case a payment in fails/is lost or late, at least the bills will be covered and no DDs will bounce.

CLAPTON

do bear in mind that a joint a/c will mean you are financially linked together
if one has (or acquires) a poor credit rating it will adversely afect you both

joint a/cs are easy to set up but sometime very difficult to dissolve; if you are in a long term relationship, have children or have a joint mortgage then fine but otherwise think very very carefully about whether this is wise.

MoneySaverLog

SuperHan wrote: »

I have a Joint Halifax reward account that costs £10 a month (provided it is funded with £1,000 each mont, £15 otherwise) which offers travel insurance, breakdown, mobile phone insurance and all the usual bumph. Also gives a £300 interest free overdraft, which I think is silly to turn down on a bill paying account - we have it just in case a payment in fails/is lost or late, at least the bills will be covered and no DDs will bounce.

Just thinking about this you may also be able to open up a standard reward account each, and just cycle £1,000 between the 3 accounts, that way you pay £10 for the joint URCA by funding it with a £1,000 but you'd get this back by having the 2 standard reward current accounts.

smithers1981

if its purely a 'bills' account then the Santander 123 account is ideal as it gives cashback on household bills, Santander are famously bottom of table with regards to service, but NATWEST are now making a strong bid for the bottom spot.