Renting - best bills account

JLyte

Good morning!

I'd appreciate some advice on this one.

After a year spent living in a friend's place, I am back into the private rental sector proper. They'll be four of us as tenants.

Can people advise on a good bank with whom to open a new account to pay our rent and bills out of? There are a lot of switching cash offers available, but as this wouldn't be a switch we won't qualify. Where do we stand to get the most perks?

Thanks!
J.

eskbanker

JLyte wrote: »

There are a lot of switching cash offers available, but as this wouldn't be a switch we won't qualify. Where do we stand to get the most perks?

Open a second, sacrificial, account with your current bank and switch that to benefit from switching offers without affecting your existing account(s).

Add the others to this after switching, although do so only after careful consideration as to whether this is actually appropriate, as any such joint account creates a financial association between you all, linking credit files, etc.

xylophone

Will the bank be willing to open a joint account for four account holders?

If it would be worth it, perhaps one of you could open a Santander Lite or a Natwest rewards account for paying the household bills.

The other three could set up regular SOs from their own accounts into the bill paying account.

System

Yorkshire Cash Transactor account.

It's one of the few Direct Debit capable accounts that isn't credit checked and doesn't come with a debit card.

It's not not clear the maximum number of account holders.