Bank incentives

jen_fpb

I know there are incentives for switching bank accounts and I often switch. 

Myself and my husband currently have our own accounts. We would like to open a joint account where we will both put money and bills will come out off. As this isn't a switch of an existing account then which is the best bank for an incentive? 

Daliah

"best" is subjective, depends on what you consider value for yourselves and what incentive you are after.  Outside switching, there are no big money offers but you might still find something you consider of value here: https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/

You could, of course, always open a joint donor account, and then enter the switching ring-a-ring-of-roses with that donor account.

Be aware that there might be pitfalls in having joint accounts, even for married couples, and that opening joint accounts can be complex with some banks (e.g. both must attend Branch with some banks)

jen_fpb

Thanks. It will be for bills, household stuff, food shopping. Each have our own money outside this. 

So we'll open an account have a set amount transfer in each month and have direct debits so wasn't sure if we'd qualify for incentives, as besides the switch part we will meet the criteria. 

phillw

jen_fpb said:

So we'll open an account have a set amount transfer in each month and have direct debits so wasn't sure if we'd qualify for incentives, as besides the switch part we will meet the criteria. 

You won't qualify for switching incentives, unless you switch an account. Some require you to switch in direct debits, some don't.

There are accounts with ongoing incentives, like £5 a month or free cinema tickets, which you can get without switching.