Joint Account for Bills

Saga

I am going to be sharing a flat with my OH and we thought it best to set up a joint account for bills. OH is with NatWest, I am with RBS.

Is there a joint account that we can just set up online, without having to find time to visit a branch as neither of us live near our respective "branches" which we have had since teenagers?

Also I guess it would make sense to use the opportunity to get some money by switching. So is there an account which can do both - online set up & cash for switching?

Thanks!

Robin9

You can only switch "like for like" eg joint account for joint account.

Set up a new joint account - online

YorkshireBoy

Robin9 wrote: »

You can only switch "like for like" eg joint account for joint account.

Have the rules changed? The only system exclusion was joint to sole, but sole to joint is discretional upon the particular bank.

18cc

I would just apply for and set up a totally new joint account online ( unless of course your priority is to get a switching bonus)

As for which account it depends on if for example you want cash back on bills in which case choose a bank that does that or if you plan to keep a little bit of money in there you might want some interest instead eg TSB pay 3% but you have to pay 500 month in

robdogg11

I had an old Natwest sole account that we were using as a joint account for years (I put the money in, she had the card :rotfl: )

I recently switched this to a B joint account to get the £250 Switching bonus so you definitely can go from Sole to Joint.

My advice would be to quickly set up a sole account with anyone (Halifax were quite quick for me, or your current bank might do it quickly online)

And then look to switch that new sole account to a joint with whoever is paying the most for switching bonuses (Currently TSB or HSBC)

Good Luck

wiseonesomeofthetime

Be mindful that a joint account also creates a Financial Link and effectively shares your credit history/rating with that of the OH.

Just a thought if considering applying for credit in the future and either of you has a sketchy credit history.

Saga

wiseonesomeofthetime wrote: »

Be mindful that a joint account also creates a Financial Link and effectively shares your credit history/rating with that of the OH.

Just a thought if considering applying for credit in the future and either of you has a sketchy credit history.

OK, thanks for this. OH has returned to uni so only has a bursary so not great as I want to get a FTB mortgage within next 6-12 months. However, how to contribute for bills (all in my OH's name as it's their rented property I'm moving in to to share the tenancy) and evidence to a potential mortgage lender that my outgoings have gone to pay for bills rather than into OH's bank a/c?