Should we get a joint account?

Red-Squirrel_2

benjus wrote: »

That's what we have done. It doesn't solve the problem though - it still creates a financial link between the account holders which can be hard to break. One party could empty the account and run up an overdraft and disappear. The bank could chase either account holder for any debt, and will generally go after whichever seems easier.

Not big problems. Get an account with no overdraft facility, that requires both signatures for certain transactions, don't keep loads of excess cash in there and if you break up call to freeze the account, close it and then send an email to the CRAs to disassociate yourselves which they'll do within a day probably.

Archi_Bald

lufc7 wrote: »

Like most people on here this is my view point and advice just like by your response you deem it correct that they don't have one. I tried to explain the reasons to why I suggested what I did. What can I say I'm a glass half full rather than glass half empty kind of person. We can all worry about things going wrong but we would never do anything if did. Just being sensible and taking appropriate risks to me makes sense as much as to you they don't.

Is your glass half full or half empty if you take out an insurance policy? Is it half full or half empty if you self-insure? Is it half full or half empty if you just close your eyes and tell yourself you are a glass half full person?

I maintain that it is quite irresponsible to tell a stranger that it does make sense for them to take out a joint account with another person you know nothing about. It's not having your glass half full, it's just plain irresponsible.

Archi_Bald

Red-Squirrel wrote: »

Not big problems. Get an account with no overdraft facility, that requires both signatures for certain transactions, don't keep loads of excess cash in there and if you break up call to freeze the account, close it and then send an email to the CRAs to disassociate yourselves which they'll do within a day probably.

Did you ever read any of the posts from people who are trying to get out of current accounts but can't since the agreement of the other account holder is required but not forthcoming?

Do you understand that a financial association can go way beyond a jointly held account?

safestored4

I am very old fashioned. My wife and I, not girlfriend or partner, have had a joint account for 47 years. Given todays frequency of the break up of relationships outside of marriage I wouldn't touch one with a bargeploe.

lufc7

Archi_Bald wrote: »

Is your glass half full or half empty if you take out an insurance policy? Is it half full or half empty if you self-insure? Is it half full or half empty if you just close your eyes and tell yourself you are a glass half full person?

I maintain that it is quite irresponsible to tell a stranger that it does make sense for them to take out a joint account with another person you know nothing about. It's not having your glass half full, it's just plain irresponsible.

No irresponsible would be the OP blindly taking a strangers advice on the Internet without making sure it suited them and their own situation. The title of the thread was 'should I get a joint account' many have said yes like me, many have said no like you. I'm sure the OP is capable of deciding what is best for themselves after reading the replies