Can Joint current account be changed to sole name?

Gollygumdrops

xylophone:

I haven't tried opening an account in just my name yet. I know that obviously the bank concerned will do a credit check and may not find sufficient evidence for their needs, plus if I am earning £0, it doesn't seem likely that they will. (Although I currently do all the household budgeting and organising savings/ISAs etc from the joint accounts with hubby!)

By opening another joint current account (for the few perks) I wondered if the bank would then allow me to get the benefit of the £5000 @ 3% in just my name? (BoS Vantage)

Has anyone been able to open a current account if they don't earn or receive benefits? Total income £0.

xylophone

Has anyone been able to open a current account if they don't earn or receive benefits? Total income £0.

Some people choose to stay at home to raise a family/care for a sick relative etc - I am sure that they are not refused bank accounts!

Why not telephone and set up what they term their simplest current account?

This would give you the opportunity to explain your circumstances (that you are a homemaker and want an account into which your husband can pay your housekeeping and allowance)?

Once it is up and running, add Vantage.....

Gollygumdrops

xylophone:

I suppose that will probably be the best idea. I will try ringing them in the morning - I suppose the worst they can do is refuse.

Thanks for your time.

xylophone

Let us know how you get on - if you tell them that your husband wishes to pay in £1000 monthly for your household use they may set you up with Vantage right away. Then you can deposit your £5000 savings as well if you wish.

Remember that you can have up to three Vantage accounts - if successful tomorrow, you might want to open a couple of others in due course...

Eco_Miser

I have successfully opened interest paying accounts while having zero earnings, zero benefits and zero pension. I did have around £4k investment/savings income though.

KJSmith

If individually you are not eligible for a Classic account, then you would not be accepted for a Joint Classic account either.

You don't need to have an income to be eligible for a Classic account though.

grumbler wrote: »

Typically, the T&C say that he can, but incompetent CS often say that both account holders are needed to do this. As account holders are equal, it can be you who asks.

Or you can go by the actual terms and conditions which state that agreement is needed from ALL parties.

System

I take it that you are in (or visit) Scotland as removing a joint account holder usually requires a branch visit.

I would suggest applying for Classic account with no overdraft and seeing how you get along - they usually have an option like homemaker or similar.

JVenture

Most cases yes, they will request a letter usually which outlines who is to hold the account and who is to be removed. signed by both parties. then some sort of Identification.

In the case of death, they will request the Death Certificate very simple.

pinkdalek

Will vary from bank to bank, most will allow someone to be removed from a current account, generally the account would have to be in credit so the debt is not being transferred to the remaining account holder and any overdraft might have to be reassessed taking the sole account holders income into account.

Some will even consider a party to be removed on their own consent and don't need the other person's authority. Just like some banks will allow one account holder to close the account down.

You're best off speaking to the bank in question for their own stance and taking it from there.