Shared bank account

Braquo99_2

Hi all
my girlfriend and I want an account we can both transfer money to that we can dip into for shopping... what would be a good way of doing this? Would it be just a normal joint bank account?

I just wondered if there was something easier and less scary

thanks

MovingForwards

It's a joint account.

Less scary way is sticking with sole accounts and transferring money between you.

Many people don't have the former and do the latter, even when married.

IvanOpinion

At the stage of boyfriend/girlfriend I would suggest not creating a joint bank account (youngsters these day seem to change partners with the same frequency as underwear). 
As movingforwards suggests just agree how you want to split things and transfer between your personal accounts.  I would suggest that one of you basically pays all joint bills and then the other transfers 50% (or whatever) upon request.

colsten

You could have a look at https://hyperjar.com/

The advantages include that you cannot go overdrawn and don’t get financially linked, like you could/would with a joint bank account.

The disadvantage is that they have no FSCS protection, so if they went bust, you could lose your deposit.

mab3000

Me and my other half initially opened a joint Metro Bank Cash account (their basic account not their main current account) for  the same reasons as you are looking to do.  The account cannot go overdrawn, gave us both a debit card to use. Worked exactly for what we needed it for. One thing that this account won’t do is allow direct debits to be set up on it. 

This account did not create a financial association link between us on our credit reports, or appear on our credit report at all.  

jsmith9

Yes, be aware than setting up a normal joint account creates a financial relationship between you, and also that you are jointly and severally responsible for any debits on the account eg overdrafts eg if person A overspends then person B is also responsible for that debt

IvanDP

colsten said:

You could have a look at https://hyperjar.com/

The advantages include that you cannot go overdrawn and don’t get financially linked, like you could/would with a joint bank account.

The disadvantage is that they have no FSCS protection, so if they went bust, you could lose your deposit.

Another option could be Revolut.
Almost the same advantages and disadvantages of Hyperjar
But you can have more than one card for an individual account (regrettably at a cost of a fiver each though)