Joint bank account

vinylpusher

hello.

Me and my partner are looking to move out and rent for the first time. We have saved over £3000 in the 6 months by budgeting, working 2 jobs etc and now paid everything off before we move out.

Anyway, I was wondering if anyone can give some advice on who the best bank is to go with for this.

We will put all our cash into this account and use it for when the deposit is due, bills, rent etc etc. We will transfer money into this account each month and make sure we always have money to spare should anything bad happen

Any advice on who we should open an account with for this sort of thing??

Any incentives for opening a new account at the moment?

grumbler

For the bills, depending on the amounts, Santander 123 is probably the best.
However, think twice before opening a joint account that creates a financial association and links your credit histories together. There is no anything a joint account can do that a single account cannot.

MSE article: Best Bank Accounts

vinylpusher

grumbler wrote: »

For the bills, depending on the amounts, Santander 123 is probably the best.
However, think twice before opening a joint account that creates a financial association and links your credit histories together. There is no anything a joint account can do that a single account cannot.

MSE article: Best Bank Accounts

Thanks

I think its just for ease that we wanted to do it really.

My credit history is a bit poor due to a default from Orange for £105 last year.

Would this effect my partner if we had a joint account?

grumbler

Surely it will.

I don't see how a joint account is easier.
Get a dedicated single account for the bills and a CC with a second cardholder for the joint spending.

CLAPTON

A joint bank a/c is a really bad idea.

It create a financial association between you so your combined credit rating will be at the lower of the two.

If you ever split up it is a lot harder to close a joint a/c than to open one.

just don't do it
think of another way