In need of a joint savings account

kayannie

My husband & his sister have been advised by their solicitor to open a joint bank savings account, for legal reasons. This is proving difficult as they are both over 80 & live 150 miles apart. There are no longer any banks in either of the towns where they live. Does anyone know if this kind of account can be opened online? 

Zanderman

Should be easy online with several banks - though it's often easier if they're known to the bank already.

Mrs Z-man and I have several joint savers - the joint ones we use most often are with Marcus and also Marcus branded as Saga.  Not bad interest rates and simple interfaces, so might be good for over 80s.

Marcus faqs: https://www.marcus.co.uk/uk/en/public-site/help/opening-an-account#open

Saga faqs: https://www.sagasavings.co.uk/uk/en/public-site/help

400ixl

What about a Post Office Account?

eskbanker

kayannie said:

My husband & his sister have been advised by their solicitor to open a joint bank savings account, for legal reasons. This is proving difficult as they are both over 80 & live 150 miles apart. There are no longer any banks in either of the towns where they live. Does anyone know if this kind of account can be opened online? 

Just to be clear, the impression created is that they've already tried to do this, but have run into problems - what have they tried so far?  Age shouldn't be an issue, but are institutions objecting to joint account holders living at different addresses?

friolento

Building Societies might be their best bet, and they may have to settle for online/phone accounts. There are quite a few accounts which can be held jointly: https://moneyfactscompare.co.uk/savings-accounts/easy-access-savings-accounts/

Note I would probably stay clear of the Post Office account because they have pretty dire user feedback. I would happily recommend someone like Shawbrook, Skipton or Leeds.

Given their ages, does anyone have POA for them?

sparky0138

I was able to open an NS&I joint account online a couple of years ago.

Zanderman

friolento said:

Building Societies might be their best bet, and they may have to settle for online/phone accounts. There are quite a few accounts which can be held jointly: https://moneyfactscompare.co.uk/savings-accounts/easy-access-savings-accounts/

Note I would probably stay clear of the Post Office account because they have pretty dire user feedback. I would happily recommend someone like Shawbrook, Skipton or Leeds.

Given their ages, does anyone have POA for them?

OP is specifically seeking online accounts, so online is unlikely to be seen as a problem. 

PoA is a little off-topic - OP (who is also presumably relatively mature) is merely asking about savings accounts.

friolento

Zanderman said:

friolento said:

Building Societies might be their best bet, and they may have to settle for online/phone accounts. There are quite a few accounts which can be held jointly: https://moneyfactscompare.co.uk/savings-accounts/easy-access-savings-accounts/

Note I would probably stay clear of the Post Office account because they have pretty dire user feedback. I would happily recommend someone like Shawbrook, Skipton or Leeds.

Given their ages, does anyone have POA for them?

OP is specifically seeking online accounts, so online is unlikely to be seen as a problem. 

PoA is a little off-topic - OP (who is also presumably relatively mature) is merely asking about savings accounts.

Apologies, I was unaware that asking about PoA for octogenarians is not permitted. Consider my question un-asked.

Zanderman

friolento said:

Zanderman said:

friolento said:

Building Societies might be their best bet, and they may have to settle for online/phone accounts. There are quite a few accounts which can be held jointly: https://moneyfactscompare.co.uk/savings-accounts/easy-access-savings-accounts/

Note I would probably stay clear of the Post Office account because they have pretty dire user feedback. I would happily recommend someone like Shawbrook, Skipton or Leeds.

Given their ages, does anyone have POA for them?

OP is specifically seeking online accounts, so online is unlikely to be seen as a problem. 

PoA is a little off-topic - OP (who is also presumably relatively mature) is merely asking about savings accounts.

Apologies, I was unaware that asking about PoA for octogenarians is not permitted. Consider my question un-asked.

Well, obviously it's permitted! I was just thinking that OP was asking a specific question, about a specific circumstance that they're not divulging the background too (that point about being advised by a solicitor to open a joint a/c for legal reasons) and so it seems likely they're wanting to keep their circumstances fairly private, and just want an answer re online joint accounts, not generic advice on what to do when you're old (esp when they obviously already have a solicitor advising them on money matters anyway). But maybe I'm wrong.  Don't let me stop you! 

friolento

Zanderman said:

 ......esp when they obviously already have a solicitor advising them on money matters anyway

Must be a really superb solicitor when a relative of the solicitor's clients needs to ask strangers on an Internet forum, where people are reminded not to ask about about PoA for octogenarians unless asked to do so, about possible accounts which fit the solicitor's "advice".

I have nothing more to add now. @kayannie hope it works out alright for your husband and your SIL

Zanderman

friolento said:

Zanderman said:

 ......esp when they obviously already have a solicitor advising them on money matters anyway

Must be a really superb solicitor when a relative of the solicitor's clients needs to ask strangers on an Internet forum, ...

OP was asking about what joint bank accounts are available online, which isn't something you'd ask your solicitor!

I've nothing more to add either!