Joint bank accounts

Sd123_2

Hi all,

I'm just looking for some advice on joint bank accounts.

My boyfriend and I are buying our first home and are looking to set up a joint account for all of our bills, food shops, mortgage payments etc. Does anyone have any advice on which accounts/banks are the best to go with for this type of thing?

We're looking for any perks or benefits that we might be able to get, but there are that many out there at the moment we don't even know where to begin!

Any advice would be appreciated.

Thanks.

YorkshireBoy

Sd123 wrote: »

We're looking for any perks or benefits that we might be able to get

I don't have any 'packaged' accounts personally, but I understand they can be worth paying for when 2 of you are sharing the benefits* for just the one monthly fee.

but there are that many out there at the moment we don't even know where to begin!

Start here...

http://www.moneysavingexpert.com/banking/compare-best-bank-accounts


* Vehicle breakdown cover, travel insurance, mobile phone cover, etc.

lithe_mind

First choice for me would be the First Direct one (£100 switch bonus and £250 authorised overdraft. Need to pay in minimum £1000 per month to qualify. If you can save, it also comes with a 6% interest saving account.

Next best would be Halifax Reward £100 switch bonus and £5 per month, minimum £750 in. I don't like their overdraft offer though.

eskbanker

Given your username, it might also be worth considering the Santander123, given its 1-3% cashback on many household bills if paid by direct debit....

Sd123_2

eskbanker wrote: »

Given your username, it might also be worth considering the Santander123, given its 1-3% cashback on many household bills if paid by direct debit....

Haha..clever!


Thanks all! We will have a look in to all of the above - we're both currently with Natwest but as far as we have found, they don't offer anything show stopping!

p00hsticks

Bear in mind that if you are really savvy you can have more than one account and put money through each to take advantage of the various offers -

For example, we both pay in a set amount ( totalling > £750) each month to our Halifax Reward account, with two small direct debits set up so we get the £5 a month reward, then forward £700 of it into a Santander 1-2-3 account from which we paythe main bills by DD - getting cashback on most of them and 3% interest on balances between £1k and £20k.

For food shopping we also have a Halifax credit card that pays cashback

YorkshireBoy

p00hsticks wrote: »

Bear in mind that if you are really savvy you can have more than one account and put money through each to take advantage of the various offers

But...don't go mad with current account applications until the mortgage provider has completed all their searches and you have the keys in your hand!