joint current accounts ??? best and pros and cons ???

andykolo

My partner and i are looking for a joint current account she is french and has difficulties opening a simply bank account (why do banks do this ???) so was wondering if you folks knew a way around this or what is best to do !

Facts i earn less than 15,000 a year
she is pregnant so assume no income for now(while we wait on a maternity pay decision from her work)
Just want a debit card and cheque book
Never go overdrawn
Option of using debitcard when abroad

I look forward to your suggestions

newfoundglory

You could get the necessary proof of address by putting a utility bill in her name.

However, you are not going to get a joint account with any credit facilities (this includes debit cards with cheque guarantee facility), unless your partner has been a permanent UK resident for at least 3 years (you may need to prove this). If your partner has not been in the UK 3 years, you *might* get a bank account which offers electronic use only debit cards (electron and solo) with a cheque book and no overdraft facility; I suggest you start with the big high-street names first (some may only offer "basic" bank accounts). No credit facilities can be offered as you would both be jointly and equally liable for the entire debt - the bank could persue both or one of you for the whole debt.

Electron and Solo clearly aren't going to be accepted as universally in the UK and outside as Visa Debit and Switch/Maestro.

If you have a full bank account already you should keep it. A lot of people have joint accounts for just bills - so each party just pays a certain amount into the joint acocunt each month to cover out-going SO's and DD's.

grumbler

newfoundglory wrote:

… you are not going to get a joint account with any credit facilities (this includes debit cards with cheque guarantee facility), unless your partner has been a permanent UK resident for at least 3 years…

It is not always the case. I know the example whern a newcomer with good salary and proper support got a full debit/cheque guarantee card during the first week in the UK. I think that as soon as the OP has some reliable proof of address for his GF (and proof of ID) it is worth trying to add her to his single account (transfer it to the joint one).

andykolo wrote:

Option of using debitcard when abroad

Nationwide is the best option, however they are more ‘pernickety’ than others. Even if you get just their cash card it is very good for using abroad.

'The cheapest way to spend overseas' article.

andykolo wrote:

why do banks do this ???

Because of the money laundering regulations…

Spendless

andykolo wrote:

My partner and i are looking for a joint current account she is french

Facts i earn less than 15,000 a year
she is pregnant so assume no income for now(while we wait on a maternity pay decision from her work)

Nothing to do with cheque accounts but why might she not be entitled to maternity pay? Have you checked with somewhere like CAB or Maternity Alliance?

Once baby is born make sure you apply for child benefit and tax credits.

Good Luck

margaretclare

newfoundglory wrote:

If you have a full bank account already you should keep it. A lot of people have joint accounts for just bills - so each party just pays a certain amount into the joint acocunt each month to cover out-going SO's and DD's.

Yes, that's what we do.

Personally I think that 'just bills' is the ONLY reason why anyone needs a joint account!!

Aunty Margaret

Spendless

margaretclare wrote:

Yes, that's what we do.

Personally I think that 'just bills' is the ONLY reason why anyone needs a joint account!!

Aunty Margaret

Margaret - do you have your own income though? I'm a SAHM so I don't and I wouldn't be overly happy about my hubby keeping his salary in an account in his name and only putting bill money into the joint leaving me with nothing unless I asked him. I have plenty of friend whose husbands do exactly this to them.

djohn2002uk

margaretclare wrote:

Yes, that's what we do.

Personally I think that 'just bills' is the ONLY reason why anyone needs a joint account!!

Aunty Margaret

Depends how much you trust each other. We've been married 43 years and had the one joint current account since about a week after our wedding and with "either/or" signature required too. Both salaries went in and all bills and other expenditure came out of this account.
Also all other accounts we have, except ISAs, are in joint names as was our mortgage. If you are married I see no reason for not having joint accounts. I thought marriage was about sharing..........;)