Joint account system with partner

Ulti

Hi All,

I'm looking to open a joint account system with my partner and wanted some advice to maximise returns.

Requirements:
This "system" is purely for spending/savings between ourselves for holidays and general dates/outings - we will still hold onto the large majority of our savings individually. The idea is that we want to set up a predefined amount of money each month to spend together and have it go through an account that we both share.

I therefore propose the following setup:

Joint current account:
Nationwide (5% interest up to £2500 balance)

Only thing is we've both already got a Nationwide account so not sure if we can get another separate one specifically as the joint account as it isn't clear here:
https://www.nationwide.co.uk/support/support-articles/apply-activate/joint-current-account

I've not actually got anything in my personal Nationwide account as I've had it for over 12m and therefore the 5% introductory offer has expired.

I do have a few spare "inactive" bank accounts that I could also use to take advantage of switching bonuses if any exist.

Spending card(s):
I was thinking of having 3 cards -
Amex BA Credit Card or Amex Platinum Everyday Cashback Credit Card (Amex)
Nationwide Select Credit Card (VISA)
Santander Zero Credit Card (MasterCard)

Again, I have all of these cards already so wonder if we can apply for joint version of these cards

Savings:
None - as we won't have much balance in there there's no point bothering with joint savings.

Idea:
Let's say each month we aim to spend £1000 total or less together; we will therefore have a standing order of £500 set up from each of our individual current accounts into this joint current account.

All of our UK spending will go through an Amex card where accepted (not sure whether to go for the BA one for flights or just go for direct 0.5% cashback with the 5% introductory offer). Where Amex is not accepted we will use either the VISA or MasterCard as they do not offer any cashback/rewards.

When going abroad we will use either the VISA or MasterCard as neither have foreign exchange fees. Generally MasterCard has a slightly better exchange rate so we will aim to use that as the main card.

We will then have a DD set up to pay off all the credit cards in full month each month directly from the joint current account.

Does this all seem quite straight forward and logical? Is there a better "system"?

Thanks in advance!

[Deleted User]

There are no"joint" credit cards under any "system".

Only "additional" cardholders.

sal_III

Spreading spending between 3 CCs and a number of current accounts, seems like a lot of hassle for a £500/month you aim at putting into the "joint venture". Juggling all this has a potential to put an additional strain on your relationship.

I would just start by having a joint current account together to pay for jointly incurred expenses like rent, utility bills, groceries etc.