Do basic bank accounts report to credit agencies

System

Anthorn wrote: »

Now Hang Len, in consideration of the above who is peddling rubbish? You or I?

Hang Len is stuck in a snow drift :rotfl:

retrieverjc

TL;DR listen to SnowTiger

OP, I’d recommend you open a Monzo account in your name only... information posted on their website (Monzo.com) about their reporting to CRAs is extremely transparent.

There is a really handy feature of the app called Monzo.Me, where you can share a link with someone that they can follow to then pay you a specific amount.

Monzo is now a fully fledged current account, and probably offers you the best way of operating a joint account while circumventing any potential issues of being linked by the CRAs. Without meaning any offence whatsoever it seems much less hassle to just have one very good credit profile between the two of you than risk any problems that might arise from you being linked (purely speculation only but e.g. you might think it sensible to take out a credit card to book a holiday only to find your application is rejected as a result of you being linked where you would have been accepted on your own)

A similar alternative would be starling bank - not wishing to come across as a salesman for these new app only banks but I do think they offer you a very good solution as they offer so much control and even budgeting tools on your account just from their apps.

retrieverjc

Last post...

OP, I think it’s very likely you’d both be accepted for Monzo accounts.

Anywho, the really cool “sub-feature” If Monzo.me is that you can use it to split the cost of a transaction on the account automatically between a number of people. I can’t post pictures on here but you literally just tap the transaction from within the app and then choose “Split cost using Monzo.me”.

Through fear of being reported by the forum police and because I don’t want to share my name here, I’ve opted not to send you a Monzo.me link for my own account, but this explains it perfectly:

https://monzo.com/blog/2017/02/22/1-9-3-update/

Hope that helps you make the right decision (winking because I like Monzo, I don’t work for them or anything)

JC

Robinwren

We both have Monzo accounts thank you. As well as the legacy banks for the decent interest rates.
The only reason we want a joint account is for food shopping and other joint expenditure that we deal with in cash.

At the moment we have cash pots for these for budgeting. I'm just trying to find a less wieldy way of doing it.

retrieverjc

In that case you might want to take a look at this:
https://www.sainsburysbank.co.uk/credit-cards/additional-cardholders

From memory (I may be wrong and I!!!8217;m assuming that none of your existing bank accounts are basic bank accounts) neither of you would be eligible for a basic bank account anyway. To get one of these you usually have to be ineligible for a standard current account and I!!!8217;m fairly sure (but again you!!!8217;d have to check this with the relevant bank) that you can!!!8217;t have one if you hold a bank account elsewhere.

Based on this I!!!8217;d suggest either using a savings account that comes with a cash card and/or taking out a cash back credit card for supermarket shopping in your own name and then adding your husband as an additional cardholder rather than making it a joint card.

retrieverjc

Oh and hopefully you mean more wieldy!

SnowTiger

Yorkshire Bank's Instant Savings Account claims to offer a debit card and appears to accept join applications.

I have an account, but I didn't get a debit card. Perhaps customers have to specifically ask for one. I'll chase them up about that.

You have to apply by phone. Before applying you should ask whether it comes with one or two debit cards for join applicants.

https://secure.ybonline.co.uk/personal/savings/everyday-instant-access-accounts/instant-savings-account/

18cc

Not sure if this has been covered or is even relevant but could you open an account in one name and the use it jointly. This would mean having two debit cards I assume (in the one name) - not sure if bank accounts allow you to have two debit cards but even if not, one could use the 'real' debit card and the other eg Google Pay or equivalent. You would both thus have access to the account. You nee to just notify the bank that you are having someone else use your account so that they know.

SnowTiger

Perhaps the best option is CashPlus.

The account usually comes with a monthly fee and an initial fee for a debit card.

However, if you open an account via this link there's no monthly fee and you'll get a tenner credited to your account (if you deposit £50), which more than off-sets the initial card fee.

https://www.moneysupermarket.com/prepaid-cards/

After you've opened an account you can add additional card holders.

The account operates like a normal bank account; offering direct debits, standing orders and even has an app.

Anthorn

No, no, no. I'll say that again: No, no, no. The best option is a Virgin Money Essential Current Account. It's a basic bank account without the restriction of only being allowed one if you don't bank elsewhere and allows up to 3 accounts and a joint account.

BUT there needs to be a Virgin Money Store within striking distance because the account has to be opened in a Store.