Starling or First Direct

Band7

Rich1976 said:

Band7 said:

Rich1976 said:

We are with First Direct and have been for over 10 years without any issues.
we did consider Starling a while back but they don’t do joint accounts unless each account holder already has their own accounts so we didn’t bother

That each Starling joint account holder needs a sole account as a pre-req is merely a different formality for the ID verification and CRA checks which are carried out for all joint applications by all banks. 

Neither of the joint account holders is forced to use the Starling sole account but they could do so if they wanted to. This may or may not worry either or both of the joint account holders but I would consider it a positive advantage.

We don’t hold individual accounts so seems a waste they enforce that rule if individual accounts are not going to be used 

If it were a waste (of what?), it wouldn’t be one that costs you.

All banks will check and hold personal details of joint account holders. Starling chose to do this by checking and holding the details in sole account procedures which they already maintain for the their business to function according to their licence. It seems a lot less wasteful, and much more logical, to use such existing procedures and infrastructure than inventing separate ones for joint accounts.

Rich1976

Band7 said:

Rich1976 said:

Band7 said:

Rich1976 said:

We are with First Direct and have been for over 10 years without any issues.
we did consider Starling a while back but they don’t do joint accounts unless each account holder already has their own accounts so we didn’t bother

That each Starling joint account holder needs a sole account as a pre-req is merely a different formality for the ID verification and CRA checks which are carried out for all joint applications by all banks. 

Neither of the joint account holders is forced to use the Starling sole account but they could do so if they wanted to. This may or may not worry either or both of the joint account holders but I would consider it a positive advantage.

We don’t hold individual accounts so seems a waste they enforce that rule if individual accounts are not going to be used 

If it were a waste (of what?), it wouldn’t be one that costs you.

All banks will check and hold personal details of joint account holders. Starling chose to do this by checking and holding the details in sole account procedures which they already maintain for the their business to function according to their licence. It seems a lot less wasteful, and much more logical, to use such existing procedures and infrastructure than inventing separate ones for joint accounts.

A waste of our time I meant in opening 2 individual accounts which are not going to be used just to be able to open a joint account.

Rob5342

It's only their waste. To you it's just a card in a drawer which.may be useful occasionally.