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Joint Bank Account

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Me and my fianc!e are looking into opening a joint bank account and hoping to get some advice on what and where to go.

We moved in together September and are looking for a account which we can both set-up a standing order for money to go into each month to save. This money would go towards wedding, house issues is any arise and general saving.

Would we be better with a saving account, isa account for interest or a current account for access and which bank currently has the best offers/interest rates.

Comments

  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 23 January 2017 at 1:28PM
    Best Bank Accounts
    Top Savings Accounts
    Regular Savings

    You'll find that it's current accounts that pay the highest interest ATM while ISAs make no sense for many people because of high personal savings allowance

    However, any joint current account creates a financial link between the account holders, that many people prefer not to have.

    I'd suggest a sole regular savings account (or two accounts) for the first year that gives you enough time to do more research.
  • xylophone
    xylophone Posts: 45,600 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    You could each open a couple of Tesco current accounts and use those as savings accounts.

    This would give each of you the opportunity to save up to £6000 @ 3% - once you have reached £12,000 you can think again?
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