Joint Saving Account - UC ?

Grippo

Hi,

I currently have a joint savings account with my wife whilst claiming UC as a couple.

I want to move the savings to an account with a higher interest rate. But the account I am considering doesn’t allow joint accounts. So, I would be opening it in my name only.

Does this make any difference to my UC claim? When I update our finances it asks which name the savings account is under. Will it make a difference if the savings account is just under my name now?

Thanks.

RunsFromRobots

It shouldn't matter if your combined savings are less than £16k.

TELLIT01

It makes no difference whether accounts are in joint names or just yours or just your partner's.  All savings and capital has to be declared.

Muttleythefrog

Makes no difference which of your names (both or either) any accounts are in... they will be considered as jointly owned for the claim as far as calculation of capital goes while you are living together under joint claim.