Who "owns" an internet bank account?

Legacy_user

My wife and I have a joint current account.
This is registered for internet banking, and I am the authorised user.
From time to time I have upgraded the account, online, but it remains a joint account.
I have also at times opened, online, savings accounts, and switched money about. I think of all the accounts as "our" money. But is a savings account linked to a joint current account automatically a joint account also?

Does its status depend whether it is an ordinary savings account, accessible in a branch, or an internet-only account?

grumbler

Clifford_Pope wrote: »

...But is a savings account linked to a joint current account automatically a joint account also?

Generally not.
We have a joint current account at Santander and two single e-savers linked to it.
When I log in I can see and operate the joint current account and my e-saver. My wife can see the joint one too and her e-saver.

The same in Lloyds with some relict e-savers.
However, IIRC, some other unused e-saving accounts are joint. I think every time you apply for it you are asked whether you want it to be single or joint.

dr_adidas01

grumbler wrote: »

Generally not.
We have a joint current account at Santander and two single e-savers linked to it.
When I log in I can see and operate the joint current account and my e-saver. My wife can see the joint one too and her e-saver.

The same in Lloyds with some relict e-savers.
However, IIRC, some other unused e-saving accounts are joint. I think every time you apply for it you are asked whether you want it to be single or joint.

As grumbler has said, when you apply for a savings account you are given the choice to open it as a single or joint account.

If you open it as a single account then its technically just yours, and if you open it as a joint one then it belongs to both of you.

System

grumbler wrote: »

I think every time you apply for it you are asked whether you want it to be single or joint.

Ah, that may be what I missed.
It didn't matter at the time, but we are now thinking about reclaiming tax by a non-payer, and also longer term division of assets for tax purposes.

molerat

We have a joint current account. We also have a joint savings account and individual savings accounts which are all linked to the current account. When I am logged in I cannot see Mrs M's accounts and she cannot see mine when she is logged in. The joint accounts are registered for 10% tax deduction and her single accounts are tax free. We freely move money around on the sofa using 2 laptops.