Joint Bank Accounts

sabelu

Hi just looking for advice on which banks offer the best and easiest to administer joint bank accounts my wife and I many years ago set up a joint bank account simple process it seems with many banks these days you have to set up two accounts in the different names and then these are merged. Whole process is cumbersome etc and takes a while, any advice on a simple bank that manages this better?

eskbanker

sabelu said:

it seems with many banks these days you have to set up two accounts in the different names and then these are merged.

I don't recognise this requirement to open two sole accounts and then to merge them, but haven't applied for any for a while - which ones have you discounted on the basis that they require that?

sabelu

I havent but joined virgin 18 months ago and this their process it creates issues further down the line that you dont envisage i was looking for some recommendations it tenmeans through smart switch we ll have to transfer our account as two separate customers to a new provider and then amalgamate

Slinky

Nat West and RBS you have to open an account in a single name, then add the second name to the new account which I found to be a painful process because of popup blockers. Managed it eventually going via their app. You can open a joint account if both of you go together into a branch, if you can still find one that's open.

pridehappy

Within the past few years I’ve opened Nationwide, Virgin Money and Starling Bank accounts. All of which we’re pretty easy to open online and allowed you to open a joint account straight away without needing separate ones first. Starling would stand out for being the quickest, Nationwide being the most thorough making sure everything is setup correctly. My only grasp was setting up an overdraft with Virgin Money did take a little more time and effort than Nationwide.

ZeroSum

My experience with Virgin which is where our joint account is, was quite painful. I already had an account then when I opened the joint account, for some reason it opened it jointly with myself (ie the 2 names on the account were both mine). Called in branch & they couldn't help (something to do with online / branch using different systems due to old Northern Rock / Clydesdale setups). So ended up hours on the phone trying to sort it out.

sabelu

ZeroSum said:

My experience with Virgin which is where our joint account is, was quite painful. I already had an account then when I opened the joint account, for some reason it opened it jointly with myself (ie the 2 names on the account were both mine). Called in branch & they couldn't help (something to do with online / branch using different systems due to old Northern Rock / Clydesdale setups). So ended up hours on the phone trying to sort it out.

My experience was and has been poor 

pridehappy

ZeroSum said:

My experience with Virgin which is where our joint account is, was quite painful. I already had an account then when I opened the joint account, for some reason it opened it jointly with myself (ie the 2 names on the account were both mine). Called in branch & they couldn't help (something to do with online / branch using different systems due to old Northern Rock / Clydesdale setups). So ended up hours on the phone trying to sort it out.

That’s good to know - didn’t realise that they were on different systems. Mind you, I’ve never really used my local branch other than withdrawing cash etc.

ZeroSum

pridehappy said:

ZeroSum said:

My experience with Virgin which is where our joint account is, was quite painful. I already had an account then when I opened the joint account, for some reason it opened it jointly with myself (ie the 2 names on the account were both mine). Called in branch & they couldn't help (something to do with online / branch using different systems due to old Northern Rock / Clydesdale setups). So ended up hours on the phone trying to sort it out.

That’s good to know - didn’t realise that they were on different systems. Mind you, I’ve never really used my local branch other than withdrawing cash etc.

Those of us who use the yougov free £50 will also be aware that its causing an issue for this as only accounts set up on one of the systems can use open banking & the rest can't (of which im one). In probably the last 2 years Virgin have known about this but made zero effort in rectifying it 

WillPS

Slinky said:

Nat West and RBS you have to open an account in a single name, then add the second name to the new account which I found to be a painful process because of popup blockers. Managed it eventually going via their app. You can open a joint account if both of you go together into a branch, if you can still find one that's open.

Yes - and if you want to open a second/joint Reward account you have to first open a Select sole account (since you can't have more than one sole Reward!) then add the second party, then convert to Reward.

The 'adding a second party process with Natwest Group seems to always require ID to be submitted, which is annoying.