2 signature account

Elvisjo

I’m looking for a 2 signature account to deposit money for a few months up to one year. Can anyone please recommend a company who has an account for 2 people to sign? I’ve asked all high street bank and no one offer this service. Thanks 

LHW99

Seem to remember having a savings account with First Direct (tied to a current account) where we had to choose either to sign or both to sign at set up. Not sure if that's still available.

elsien

Secure Trust used to do an access savings account that required both signatures to withdraw. 

I have no knowledge of them other than this. 

xylophone

https://infogram.com/both-to-sign-either-to-sign-1g9vp13jl9eem4y may be worth a look.



 Otherwise, have you tried a building society?

example https://www.coventrybuildingsociety.co.uk/content/dam/cbs/member/pdfs/useful-forms/adding-an-account-holder.pdf

Account details

Signing mandate

Yes No

You can choose how many signatories will need to sign when operating or making a withdrawal from the account.

flaneurs_lobster

Building societies would seem to be the place to try, the nature of the 2-sig system means that a branch will be required for at least the application/setup and probably for further access.

A thread from a couple of years ago

https://forums.moneysavingexpert.com/discussion/6412307/savings-account-with-dual-authorisation-to-withdraw

retiredbanker1

As more and more bank branches are closed, and more and more transactions are done digitally - it has become much more difficult for banks to offer this.

Is there a particular reason you want to open a dual signature account?

xylophone

Relatives of a relative have a dual signature mandate on a  current account. There is a cheque book  but no internet access for either party.

Originally the account was in the sole name of the executor of an estate. That executor died.  The relatives are the

executors of that late executor and the terms of a court order require them to act in tandem. 

savethepandas

I have completed hard copy applications for accounts with the Scottish Building Society and Suffolk Building Society recently. Although I set up solo accounts, both forms were designed for opening an account with two signatories.

Elvisjo

retiredbanker1 said:

As more and more bank branches are closed, and more and more transactions are done digitally - it has become much more difficult for banks to offer this.

Is there a particular reason you want to open a dual signature account?

Thanks, we might go separate ways and we have just sold a rental property so I have been advised to secure the money in an account with two signatures for the time being…..

xylophone

Wouldn't it be simpler just to split the money now and hold it in sole accounts?

Elvisjo

xylophone said:

Wouldn't it be simpler just to split the money now and hold it in sole accounts?

Perhaps, but if one spends the money then it’s gone……