Adding another name to my HSBC Account?

Abbafan1972

Hi there,

I am in the process of setting up a DMP with Step change and this includes an overdraft with the Halifax.  I have been advised to move DD's and everything over to another account.

I have requested that Step change take the money from my HSBC current account that I've had for years which seems fine, I have a debit card and internet banking for it.

I want to add my husband onto this account, as we were hoping to change his wages to go into there and some of the DD's are in his name.  Would this be a problem if the account is just in my name?

I have just spoken to someone from HSBC on their chat (I will ring them when they open), but the agent just told me I can't another name with no explanation and then I didn't get another reply after that when I questioned it, just a message to say they are very busy, so I ended the conversation. 

I don't want to start moving things over if the HSBC are going to refuse them.  I have been with the HSBC for years and have to say their customer service is dire. 

Does anyone have any suggestions please?  Obviously, I want to keep things separate from the overdraft account, but not move it over (the overdraft) if I have to open another account. 

colsten

A joint account creates a financial relationship, which might not be desireable under the circumstances. 

Stepchange might be able to advise you further. 

https://www.moneyadviceservice.org.uk/en/articles/joint-accounts

colsten

Also, there shouldn’t be any DDs on your account that pay someone else’s bills, even if the someone else is your spouse.

Abbafan1972

colsten said:

A joint account creates a financial relationship, which might not be desireable under the circumstances. 

Stepchange might be able to advise you further. 

https://www.moneyadviceservice.org.uk/en/articles/joint-accounts

The account with the Halifax (where the overdraft is) is a joint account, both our wages go in there and all the bills go out of there.  The HSBC account is an old one that I opened years ago when our salaries were separate, but I was added to the Halifax account years ago and everything moved over there.  So we already have a "financial relationship".  Plus the DMP with Step change is in joint names, so I don't see a problem. 

jay1804

Open a new joint account somewhere else if you can? 

Abbafan1972

jay1804 said:

Open a new joint account somewhere else if you can? 

Ok.  I have read the name Monzo quite a bit around here.  I do already have a Monzo account that I don't use, it says it's a current account and I have a card for it (bright orange).

I can see on the app that you can make it a joint account?  Has anyone here done this and is it an account you would recommend for salaries and DD's coming out?

Opening a fresh new account might mean they would want me to use their switch service to transfer DD's but that would probably mean they would try to close the Halifax one (obviously I don't want to bring the overdraft elsewhere). 

Thanks. 

jay1804

Abbafan1972 said:

jay1804 said:

Open a new joint account somewhere else if you can? 

Ok.  I have read the name Monzo quite a bit around here.  I do already have a Monzo account that I don't use, it says it's a current account and I have a card for it (bright orange).

I can see on the app that you can make it a joint account?  Has anyone here done this and is it an account you would recommend for salaries and DD's coming out?

Opening a fresh new account might mean they would want me to use their switch service to transfer DD's but that would probably mean they would try to close the Halifax one (obviously I don't want to bring the overdraft elsewhere). 

Thanks. 

I haven't got a joined Monzo account, however I use the personal account it's very good for budgeting and paying bills as everything is clear in the app. You can open an account without using the switching service, it just means you have to do it yourself (giving employers and companies new bank details). 

Abbafan1972

jay1804 said:

Abbafan1972 said:

jay1804 said:

Open a new joint account somewhere else if you can? 

Ok.  I have read the name Monzo quite a bit around here.  I do already have a Monzo account that I don't use, it says it's a current account and I have a card for it (bright orange).

I can see on the app that you can make it a joint account?  Has anyone here done this and is it an account you would recommend for salaries and DD's coming out?

Opening a fresh new account might mean they would want me to use their switch service to transfer DD's but that would probably mean they would try to close the Halifax one (obviously I don't want to bring the overdraft elsewhere). 

Thanks. 

I haven't got a joined Monzo account, however I use the personal account it's very good for budgeting and paying bills as everything is clear in the app. You can open an account without using the switching service, it just means you have to do it yourself (giving employers and companies new bank details). 

Yes, I already have a Monzo account (as stated above) so wouldn't need to open another one.   I have seen an option in the app to make it a joint account, which is what I would like to do.

Letting people know new direct debit details and getting a change of bank for employers is what I was planning to do anyway.

Looks like a possibility. 

Abbafan1972

It seems the other person needs to already have a Monzo account.

I will have to think about this one.