Joint savings?

RG2015

mikeylpool said:

RG2015 said:

Virgin Money is the current market leading easy access account at 1.55% on balances up to £25,000.

I have just opened a joint account with my wife to add to my sole account. In addition, the required current account pays 2.00% on up to £1,000.

This sounds like an excellent option for you.

Brilliant, I will look into this.  Assuming it is all easy enough to open online?

I opened my sole account online 2 years ago in a few minutes without any issues.

However, many on this site reported problems opening the account.

As I said earlier, I recently opened a joint account (3 weeks ago) and this was done in a few minutes online.

Whilst I was already a customer, my wife needed her identity to be verified. We were prepared for this and anticipated their questions.

My advice is to have a copy of your credit reports handy to have answers such as when you last opened a current account or took out a mobile phone contract.

You can get free copies of your credit reports online. See the link below.

https://www.moneysavingexpert.com/loans/check-free-credit-report/

Stubod

..you could just split the money and your partner can then open their own account?

homemover2020

RG2015 said:

I opened my sole account online 2 years ago in a few minutes without any issues.

However, many on this site reported problems opening the account.

As I said earlier, I recently opened a joint account (3 weeks ago) and this was done in a few minutes online.

Do you know it is standard for someone to have both a sole account and a Joint account? 

The T&Cs are not conclusive. They say you can only have one account in "your name". It doesn't actually mention whether a joint account would fall into that category.

The exception is any accounts opened prior to February 2022, which your sole account was. I opened my sole account after that time so am concerned a Joint Account would not qualify.

mikeylpool

Stubod said:

..you could just split the money and your partner can then open their own account?

Yes, this is one of the options I was thinking - i.e. I have most of the easy access cash in a Chase account so she could open one of those as well and have half.  Not perfect, but definitely an option. Going to look into the Virgin one in a bit

diystarter7

We are with the coventry, we have joint saving accounts but been with them for the 4th time and joined up a year and 8 months ago.

We are with Barclays current a/c joint and joit cc but 2 credit cards issued

Joint accounts have their advantages and disadvantages of single signature etc, if your OH takes the lot, the cops can do naff all.

Zerforax

Stubod said:

..you could just split the money and your partner can then open their own account?

Would just do this as probably easiest. You then just might want one joint account where you both spend from but then you don't worry about higher interest etc.

mikeylpool

Zerforax said:

Stubod said:

..you could just split the money and your partner can then open their own account?

Would just do this as probably easiest. You then just might want one joint account where you both spend from but then you don't worry about higher interest etc.

Yeah, what we have at the moment (overly complicated perhaps) is a Joint account which all the DDs come from (so the bills). The another Joint account (Starling) which has the "day to day" money so we can keep an eye on our budget each month - i.e. each month £X is deposited into the Starling account and that needs to do us (food, petrol, and fun).
But for the "Savings" then at the moment everything is in my name and I want to make it more accessible by both, and more transparent.
Her concern is more should I die horribly on the way to work then she's goosed