Wedding Account Help

Weddinghelp

I am getting married in July this coming year and various family members are contributing to our wedding finances so I am trying to work out the best way to 'hold' our wedding 'fund' as the money is coming from various sources.

I am the only one who needs access to the account as I will be the one paying suppliers etc but don't want the full amount of money to be put in to my own current account as it will become too confusing.

Should I open a second account with my current bank?
What type of account should I use?
Will opening a new account affect my credit rating?
Will the money gain any interest if we are accessing it for deposits etc on a regular basis?

Thank you in advance for your help!

duchy

Standard savings account with online access ....or PayPal account

Personally I'd go for a savings account with the same bank my current account is with in case I needed to move any funds from one account to another instantly for any reason. Interest will be minimal so not worth worrying about. A savings account shouldn't impact on your credit rating.

xylophone

You might consider opening one or two Tesco current accounts.

Grabs39

My Fianc!e and I have a joint online savings account with the same back as our joint current account. You often find yourself paying deposits by cheque or card there and then so it means it can be transferred straight over but still easy to keep track of.

A savings account shouldn't affect your credit record.

You might find for the amount of time money is in the account that chasing around other banks just isn't worth the effort.