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Joint Account advice
xssc32x
Posts: 81 Forumite
Hi,
Currently looking for advice on best option for a joint Account for me and my partner. We are first time buyers and will require the account to transfer cash from current accounts to pay mortgage and utility bills etc.
We both want to keep our current accounts (HSBC & Natwest) and plan set up standing orders to transfer funds into joint account Could somebody suggest some of the best accounts to open in terms of incentives. Also, if we need to put in £x amount and have x amount of standing orders going out per month would we need to start doing this the month the account is open/activated ?
Any help appreciated
Thanks
Si
Currently looking for advice on best option for a joint Account for me and my partner. We are first time buyers and will require the account to transfer cash from current accounts to pay mortgage and utility bills etc.
We both want to keep our current accounts (HSBC & Natwest) and plan set up standing orders to transfer funds into joint account Could somebody suggest some of the best accounts to open in terms of incentives. Also, if we need to put in £x amount and have x amount of standing orders going out per month would we need to start doing this the month the account is open/activated ?
Any help appreciated
Thanks
Si
0
Comments
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If it's purely for bills then look at the accounts that offer cashback for paying bills by DD - Santander & Natwest both do this type of thing.
If you're looking for interest then Nationwide is good for the first yr with 5% interest on balances up to £2.5k and access to their RS which also pays 5% at the moment.
Have a look at this http://www.moneysavingexpert.com/banking/compare-best-bank-accounts
Only once you've decided which account you are going to opt for can you decide when you start to paying money in to meet the criteria for the benefits it offers.I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
You don't have to be the best -
Just be better than you were yesterday.0 -
OP you don't have to have a joint account to pay any utility bill.
As long as the utilities are in the name of one of you (other than home insurance) then any one can pay.
Sometimes if utilities are in joint names then any cheque issued for any refunds or over payments are done in joint names too.
Never had a joint account other than a mortgage myself.0
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