Joint Bank Account

colsten

anotheruser wrote: »

No wonder the rate of divorce is going up these days!..................

If you trust your girlfriend and plan to spend your lives together, get any old current account.

You are assuming that all people with joint accounts are married or otherwise intend to spend the rest of their lives together. Those that are successful in that may also be successful in sharing their finances but all too many people jump into joint accounts head first, with not a clue of what they are committing to. Pointing out that there are special rules associated with joint accounts is surely the right thing to do. And no, doing so doesn't increase the rate of divorce.

anotheruser wrote: »

Don't listen to the sad people of this forum who have been hurt.

You are making a huge leap there when calling people who have made bad experiences with joint current accounts sad. I wouldn't be surprised if they would find that rather insulting.

grumbler

anotheruser wrote: »

No wonder the rate of divorce is going up these days!

Look at most of the responses suggesting joint accounts are bad, you should keep finances separate... WARNING... PEOPLE MAY HURT YOUR CREDIT RATING!!! It's like people expect the worst to happen.

Well, a credit rating can be hurt by the past as well, not only by the future.

If you trust your girlfriend and plan to spend your lives together...

You are missing the important point that a sole account for joint finances similarly is based on trust.

So, as said above, the main points are manageability and side effects, not the trust.

Also, I might be old-fashioned, but the word "girlfriend" doesn't sound to me like a commitment to spend lives together.

Far too many people have been burned by mis-trusting partners.
That's their problem and they should not be "warning others" - THEY made the mistake of trusting someone who abused them.

This makes no sense really.
"Many people" did trust their partner at some point - an "have been burned" as a result.
I think that clever people prefer to learn from other people's mistakes, not from their own.

GingerFurball_2

Dobbibill wrote: »

Be careful if you attempt to close your joint account with TSB. You may find this statement in the T&C's applies.

(h) If we open an account for you jointly and you later
wish to take someone off, add another person to
the account or authorise someone else to operate
the account, you must all apply to do so.

You'll find the details here on page 15, section D, 12 (h)

I wouldn't want you to be caught out.

To the OP, this is just another idea.
If you are set on having joint savings then get a joint savings acc, that way there would be no debt as no overdraft would be possible.

Keep the bills going out of a sole acc, maybe a spare sole account (one that is used only for bills completely separate from your spending money) and transfer excess over to joint savings. Both can see the savings grow but lesser risk if things don't go to plan in the future.

DB

The terms you've quoted have nothing to do with closing the account, they're to do with removing someone from the account.

Let's say me and you open a joint TSB account. We split up, you're happy to keep the account in your own name, so we both need to give instruction to remove my name from the account so it's just in the name of Dobbibill.

If neither of us has any use for the account then I can just inform TSB that I wish to close the account.