Nationwide phone app question

BoxerfanUK

Hi all, apologies if this is a bit long winded or maybe a stupid question.

So, my daughter and her best friend are buying their first property together as it's the only way they can afford to get on the property ladder and escape renting.

I've suggested to them, that in addition to their own personal bank accounts, it might be a good idea to open a joint current account in order to monitor and manage their shared costs better i.e. mortgage, bills etc. The idea being they would each set up a standing order to transfer an equal amount each month from their personal accounts to their joint account to cover these bills.

I am going to do the £100 refer a friend scheme with Nationwide for both of them to open personal accounts so they both get £100 each and then when I
get the £200 for the two referrals I shall gift this to them.

From a phone app banking perspective, the question I have is, if they both have individual Nationwide Flex accounts and then opened a 'joint' flex account, could they both (via their respective phones) access the joint account as well as their own personal accounts via their own logins. For example, could my daughter via the app view her personal and joint account but not her friends personal account and vice versa for her friend.

If so, would this be viewable by my daughter through a single login to view the joint and personal accounts, or would she have to logout of one and login to the other to view both which would be a bit of a faff.

The only other option I can think of would be for them to open a joint account with another bank.

Hope this all makes sense.

[Deleted User]

Yes they’ll get their own logins for the joint account

gt94sss2

BoxerfanUK wrote: »

I've suggested to them, that in addition to their own personal bank accounts, it might be a good idea to open a joint current account in order to monitor and manage their shared costs better i.e. mortgage, bills etc.

Generally, this is a bad idea as it would link both their credit records - unless the mortgage is going to be in joint names?

In answer to your question, each would see their own sole accounts as well as the joint one.

BoxerfanUK

gt94sss2 wrote: »

Generally, this is a bad idea as it would link both their credit records - unless the mortgage is going to be in joint names?

In answer to your question, each would see their own sole accounts as well as the joint one.

Thanks, yes the mortgage would be in joint names as 'tenants in common' 50/50.

BoxerfanUK

!!! wrote: »

Yes they’ll get their own logins for the joint account

Hi Gary, Yes I know they would get their own logins for their joint account but for example, when my daughter logs into her joint account will that also show her own personal account under that same login or would she have to logout of the joint account and then login again to her personal account to view that?

colsten

!!! wrote: »

Yes they’ll get their own logins for the joint account

Not if each of them already has a login for their sole accounts. They'll be able to see, and operate, their respective sole accounts and both of them can also do the same for the joint account, with their respective existing login credentials.

This is from the T&Cs for the app (similar applies to online banking)

7.1 As a joint Account holder these terms and conditions apply to you individually and jointly with the other Account holder(s).

7.2 If you have a joint Account then any one of you may use the Banking App but you must use your own Security Data when required. To be able to use the Banking App your Account must be set up so that any one of you can authorise payments on your own. Certain features of the Banking App may not be available in respect of that Account if two or more of you are required to authorise payments jointly.

7.3 As soon as one of you tells us another joint Account holder is no longer allowed to authorise payments we will suspend some or all of the functionality of the Banking App on that Account. This is in addition to our rights to suspend the Banking App under Condition 12.5.

colsten

BoxerfanUK wrote: »

Hi Gary, Yes I know they would get their own logins for their joint account but for example, when my daughter logs into her joint account will that also show her own personal account under that same login or would she have to logout of the joint account and then login again to her personal account to view that?

Each of them can only see, and operate, the joint account and their respective sole one.

BoxerfanUK

colsten wrote: »

Each of them can only see, and operate, the joint account and their respective sole one.

Thank you, so how could they best set this up?


Would it work if they both switch and open personal 'flex' accounts and set up the online banking and then, once done, open a joint account. ?

[Deleted User]

Either way around. It doesn’t matter.

sausage_time

An unrelated question on the phone app. Can it be used to pay in cheques via imaging?

StokieBecks

sausage_time wrote: »

An unrelated question on the phone app. Can it be used to pay in cheques via imaging?

No Nationwide don't offer this yet on the app or the online banking platform