Santander joint account?

Badgerette27

My husband and i have separate Santander accounts. We have just bought a house ( waiting on completion) and when the mortgage is all through i thought it would be easier for us to have a joint account for all bills etc and our own accounts for personal use.

Any advice on the best way to proceed with this? Eg - pay all money into joint account then transfer a set amount to each single account OR keep payments the same and transfer set amount for bills to joint account.

grumbler

It really makes no difference and is a matter of personal preferences. IMO the second option is more natural.
However, if it's 123 account that pays casback on bills, it requires £500+ incoming payments p.m. from outside of Santander.

Newly_retired

You can manage the £500 input by transferring money out of your Santander account to a different bank, and then move it back into the 123 account.
Otherwise, it doesn't matter which way you run your different accounts, it depends what suits you.
We each transfer an agreed amount into the joint account for household costs, but have our own accounts separate.

Archi_Bald

Each 123 costs £2 a month, so if you have a joint account plus a single one each, it's £6 a month / £72 a year in charges.

You might be able to recover £6, and more, monthly quite easily with DDs that qualify for cashback but if you don't, consider other current accounts that don't cost anything.