Joint Savings Accounts with Multiple Linked Current Accounts - Do they exist?

ChrisInLockdown

When you open many of the savings accounts recommended here, eg Vanquis, RCiBank etc they all want a linked Current Account to send/receive payments from. However, if you are opening a joint savings account, linking to one current account doesn't really work if you both want to deposit/withdrawal from it. It also doesn't work if one of you dies & their account is the single linked current account; requiring a lot of paperwork. Sagas joint savings account is the only one Ive found that allows each joint saver to link their own individual currant account. All the others presume you have a joint current account. Is the solution to have a 3rd filtering joint current account or are their others like Saga who do a proper joint account that understands one current account link doest equate to a real world scenario as most couples have individual current accounts? Thanks for any ideas!

xylophone

Why not open a joint current account? You could use it solely for the purpose of depositing money destined for the joint savings account if you wished.

 It doesn't prevent your keeping your sole accounts.

 Why do you want a joint savings account?

colsten

All the reasons you have given for wanting a joint savings account must surely also apply to current accounts, and you would therefore want a joint current account to go with your joint savings account.

Having a joint current account would not prevent you from also having sole current accounts.....but see above, if you want what you see as advantages of a joint accounts, why have sole accounts at all?

ChrisInLockdown

Thanks both - very valid comments
We kind of like our own current accounts for our "own" money etc but then pool together leftovers in savings.
It seems having a 3rd joint current account is the way to go (as I had thought) but I'd hoped there would be others like the Saga aka Goldman Sachs setup.
Appreciate your input :O)

SFindlay

ChrisInLockdown said:

Thanks both - very valid comments
We kind of like our own current accounts for our "own" money etc but then pool together leftovers in savings.
It seems having a 3rd joint current account is the way to go (as I had thought) but I'd hoped there would be others like the Saga aka Goldman Sachs setup.
Appreciate your input :O)

If you hurry you can get a joint Nationwide Flexdirect current account and get 5% interest for the next year for £2500 whichbis going to beat your savings account anyway and use it as your nominated account as the nominated is usually just for withdrawls anyway and accept deposits from any account in your name. 

ChrisInLockdown

SFindlay said:

ChrisInLockdown said:

Thanks both - very valid comments
We kind of like our own current accounts for our "own" money etc but then pool together leftovers in savings.
It seems having a 3rd joint current account is the way to go (as I had thought) but I'd hoped there would be others like the Saga aka Goldman Sachs setup.
Appreciate your input :O)

If you hurry you can get a joint Nationwide Flexdirect current account and get 5% interest for the next year for £2500 whichbis going to beat your savings account anyway and use it as your nominated account as the nominated is usually just for withdrawls anyway and accept deposits from any account in your name. 

Thats what we did :O) thanks