Joint bank account

paulharding150

Hi,

The other half and I want to open a joint current account to pay for bills and other regular expenses. Plenty of direct debits will come out of the account and enough money every month to cover them (although no salary payment).

Any advice on which bank to use? I'm ideally looking at one that'll offer a good perk for opening the account, although most only seem to offer this if you 'switch' which this of course technically isn't.

I currently use First Direct, other half uses Nationwide.

bigadaj

Natwest and Santander offer cashback on direct debits, switching deals have reduced but still possible with co op, first direct and Halifax if you haven't switched to them before, or at least recently. It's easy to open an account and switch within a few weeks.

A joint account will form a financial association if there isn't one before, this can be unwise if one of you has a poor credit record and the other ones is good.

paulharding150

Thanks. As I said in my first post this won't be a 'switch' it'll be a brand new account/arrangement.

I'll take a look at Natwest and Santander in terms of cashback for direct debits which might not be too bad as it'll be general household bills/expenses.

bigadaj

paulharding150 wrote: »

Thanks. As I said in my first post this won't be a 'switch' it'll be a brand new account/arrangement.

I'll take a look at Natwest and Santander in terms of cashback for direct debits which might not be too bad as it'll be general household bills/expenses.

It can be a switch, many people set up sacrificial accounts, wait a few weeks to get some money in and out and direct debits set and then transfer for the cash incentive, it's up to you.

LXdaddy

paulharding150 wrote: »

Thanks. As I said in my first post this won't be a 'switch' it'll be a brand new account/arrangement.

But you also said you were interested in perks for joining. The perks are for people who switch. Go the sacrificial account route - open an account with bank A not offering any perks, Make an initial deposit and set a couple (or four) direct debits up and get them paid at least once then switch to bank B for the switching bonus.