Joint bank account for Bills

WolfUK

Hello



My partner and myself are buying our first place and we would like a joint bank account for our bills etc. We don't want to switch as we also want to keep our own accounts what is the best one out there for new "non-switching" customers on a HSBC mortgage? I was looking at the Natwest £3pm Rewards account. I think the santandar one will be too expensive as we don't have a mortgage with them what do you think?



Thanks in advance

Richard

TheShape

Both the Santander and NatWest websites have a reward calculator where you can enter your details and find out what each will pay.

Dobbibill

Santander also have a lite version of their 123 account which is £1 a month.

Use the calculators, as suggested, to see which benefits you the most

Gilly91

I guess it depends how much you have to put together, when i moved out with my partner last year we wanted to best return on the £2k we were aiming to keep in our bills account, so settled with the TBS classic plus paying 5% interest if £500 deposited monthly (now set to drop to 3% on £1.5k as of January)
whereas i believe anything over around £12k saved together, Santander is always your best bet if you dont wish to have multiple accounts, especially with cashback on household bills, even with £5 charge per month and less interest (at 1.5%)
personally id go with nationwide myself, as that is 5% fixed for a year on up to £2500, whilst getting an extra £100 switching bonus on refer a friend (happy to do if you need someone!) - also has a linked 5% regular saver for any extras you wish to section out

WolfUK

Hi guys

Thanks for the replies. Alot of these account only offer these bonus if you switch accounts. We are not looking at switching because we wish to keep our current account setup

Me :- HSBC advanced and TSB classic (just for savings)
Partner:- Nationwide

So we were looking at the next best options the Santander looks good so does the Natwest but would only pull in around £128 before the fees approx so I guess I need to think. I was not sure if there were any accounts out there offering welcome bonus when you are not switching.

WolfUK

any further advice on these?

premierfella

It is difficult to advice the perfect bank account without crunching personal numbers (as even on a bills account there are things to consider such as will savings be built up in it, is there any chance of accidentally running an overdraft on it, etc) which can change the decision.

Chances are if you will be running the balance in constant credit and have worked out that NatWest Rewards would gross over £100, either the Santander or NatWest would be fine. If you can be bothered, there is nothing then stopping you picking up cashback bonuses next year by switching from whichever account you first open (and if you would consider that, you of course will want to avoid opening one of the accounts now that have or have had switching bonuses in the recent past which could be offered again in he future).

tempus_fugit

WolfUK wrote: »

Hi guys

Thanks for the replies. Alot of these account only offer these bonus if you switch accounts. We are not looking at switching because we wish to keep our current account setup

Not necessarily. Most of the switching incentives are one-off payments, the interest on many of the accounts can be obtained by paying a couple of direct debits and putting in a minimum amount each month, and some, such as the TSB and Tesco accounts don't even require all of those. But as you want the account to pay bills anyway then you should be able to satisfy the requirements for most of the current best interest-paying accounts available.

WolfUK

tempus_fugit wrote: »

Not necessarily. Most of the switching incentives are one-off payments, the interest on many of the accounts can be obtained by paying a couple of direct debits and putting in a minimum amount each month, and some, such as the TSB and Tesco accounts don't even require all of those. But as you want the account to pay bills anyway then you should be able to satisfy the requirements for most of the current best interest-paying accounts available.

Yes this is what I was thinking but from my research there are no accounts that reward you (one off payment) just for signing up them are there?