Need a bank account with limited access

jojo1007

Hi All,

I’ve got myself into bit of a situation.
Basically, I was a gambler for a long time and roughly about 18 months ago I stopped gambling as it got out of my hands .
However , as the result of that , I’ve accrued so much debt , I am repaying debts to this day.
Recently got married and my wife is worried I could fall into bad habits again.
She wants to have a full access to my bank account as well as me having limited access to it .
I am fine with it , as I know this is the right thing to do .
Can you please suggest something ?
Thank you 😊

SnowTiger

jojo1007 wrote: »

I’ve got myself into bit of a situation.
Basically, I was a gambler for a long time and roughly about 18 months ago I stopped gambling as it got out of my hands .
However , as the result of that , I’ve accrued so much debt , I am repaying debts to this day.
Recently got married and my wife is worried I could fall into bad habits again.
She wants to have a full access to my bank account as well as me having limited access to it .
I am fine with it , as I know this is the right thing to do .
Can you please suggest something ?

I'm not aware of any bank account that allows a third party to have full access to it, while only offering limited access to the account holder.

My thoughts?

You obviously trust your wife. Have your money paid in to an account she has full control over. Get yourself a pre-paid card such as Loot or Revolut, or a bank account that won't allow you to go overdrawn. Wife then transfers an amount from the account she controls to your pre-paid card (or account) every week or month.

Once a week the two of you sit down with a mug of coffee each and check the transactions on the account she controls.

Wife is reassured you can't put everything on the 2.40 at Goodwood and you're reassured wife isn't going on a spending spree at TK Maxx every other day.

18cc

I agree with the above post sounds a good way to go

perhaps you could let us know what you mean by you wanting limited access to bank account

what kind of limited access do you mean what do you want to do on your account and what you not want to do

jojo1007

Thank you for you reply guys !
Yes , unlike me , she is very responsible with the money and I am lucky , I can trust her 100% (shame she can’t say the same about me )
Loot or Revolut sounds like a very good idea , because I want the account where I can have enough money for my expenses , but not too much to tempt me to gamble or go to the bank and withdraw the money and most importantly needs the account where I can’t go online and take another loan (no need since I don’t gamble , but never know ) , that’s why I will rather have pre-paid card than bank account .
Basically I want to regain her trust and this seems like a way to go .
I have one question regard this loot and revolut cards .
Can you set up a direct debit from this cards , for my mobile , insurances etc ?

Thank you for your help

18cc

If I were you I would separate a DD account from a spending account. Either have your DD paid from your wife's account or if not then set up a separate account in your name which you use only for the DD payments. Pay in enough each month to cover the DDs.

This leaves your loot or revolut card for spending only.

xylophone

You might set up a joint account with your wife BUT you would not set up on line access AND you would give your debit card to your wife.

All payments (yours/hers/household) would be set up on this account - something from the Santander 123 range might do.

You would open a savings account with ATM card.

Example

https://www.ybs.co.uk/savings/product.html?id=YB100302W

Your wife would set up a regular monthly payment into this account for your pocket money.

jojo1007

That sound like a very good idea :T
Although, my only concern with joint account is if this is not going to harm her credit score , since she has brilliant score and mine is exactly on the other end.
So I could use that saving account as the account for my day to day expenses?

18cc

Yes although I believe the YBS cashcard comes with a card that only allows you to withdraw cash from an ATM ie it is not a debit card. You might prefer an account with a debit card for ease of spending - or not.

18cc

Direct debits as such don't affect her credit 'score' - only credit does that.

If you apply for credit then your history might drag the application down if you see what I mean

18cc

One reason for having your own bank account for DDs is to build up entries on your credit file and thus over time rebuild your credit file history. I would Google this and see what you find. For example, you could apply for a credit card in your name only that helps you rebuild your credit history. Obviously give the card to your wife, but she can use it occasionally and over time this will count positively for you.

Tallaght

Make sure you contact all the bookie websites you have may have used and ask them for 'self exclusion' for life.