New Joint Account

Logie143

Hi Guys, after a bit of help.

my GF and I are moving into a flat together in September and want to have a joint account to pay the rent, bills, food budget etc. in to.

Does anyone have any recommendations? Would really prefer not to have an account with a monthly fee. Are there any complications with a joint current account or is it simply a matter of signing up online and that's it?

Thanks!

ic

Consider that a joint account will cause you to be financially linked on your credit records. If one empties the account and eats into the overdraft, the one left will be equally liable to repay anything owing.

Granted you're moving in together, but this does not require you to have a joint account. I've been living with my partner for two and a half years, but have only very recently opened up a joint account, so that we can both benefit from the services offered (travel insurance, breakdown, mobile phone insurance, etc). Prior to that I didn't see the need or point.

Signing up is straightforward, and frankly no different to signing up to a single account.

Logie143

Thanks for the reply.
I would have got one without an overdraft, or close the function off. But you raise good point I hadn't really thought of.

We just wanted a way to avoid arguments! set amount goes in each, then we've both paid equally.

InsideInsurance

If either of you have packaged accounts (ie the ones you pay for and get free insurance etc) then it'd be better to have the joint account being a package and having basic separate accounts as almost all will have give both of you the benefits in exchange for just one fee

The other consideration, as others have pointed out, is being financially linked going forward.

Logie143

Ok thanks, I hadn't actually considered the financial linking would be so great!