TOP JOINT SAVINGS ACCOUNTS

RogerRizla

Hi:

Finding it hard to source a joint savings account that pays more than 4.5% ( Tesco ). In fact for whatever reason joint savings accounts are really hard to find.

Trying to find a home for 200k. One year fixed rate and/or easy acess.

I'd be grateful for any suggestions.

Thanks in advance.

eskbanker

Treat it as two separate £100K pots and go with market-leading sole products, if the additional return justifies the extra admin?

JGB1955

NS&I Guaranteed Income/Growth Bonds are paying 4.82% and allow joint accounts.

RogerRizla

https://forums.moneysavingexpert.com/discussion/comment/82114372#Comment_82114372

I've tried that but unfortunately my good wife hasn't much of a credit profile. Over the years everything has been done in my name as she's not very good with the internet.

RogerRizla

Thanks you for that.

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/82114378#Comment_82114378

Credit status shouldn't be an issue when opening savings accounts, and you could always 'help' with applications…

However, the above suggestion looks like a decent solution for what you actually asked anyway!

Shylock_249

You might like to visit this site: https://moneyfactscompare.co.uk/

A quick look showed:

Family Building Society - 4.76%

Close Bros - 4.75%

Charter Savings Bank - 4.71%

All of which me and the wife have joint accounts of well over 100k in each and have had NO problems with them.

avocado1988

Just to check can you

https://forums.moneysavingexpert.com/discussion/comment/82115232#Comment_82115232

Just to check can you have these such that it requires both of us to sign our names if we needed to withdraw?

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/82115825#Comment_82115825

You'd need to check the detailed terms at the providers' own websites, but my expectation would be that 'both to sign' is very much the exception rather than the rule and obviously wouldn't work for online access…

Shylock_249

https://forums.moneysavingexpert.com/discussion/comment/82115825#Comment_82115825

As such we've never had to withdraw mid-term from any of them. We'd also held money in Aldermore, Post Office, YBS, Virgin and Shawbrook in joint names and only had to make decisions on maturity. In instances where I've chased the higher rate and moved banks, I've just completed the maturity instructions to have the money paid into our nominated bank. Where we've withdrawn the funds, none of those banks have ever asked for both account holders to complete the maturity instruction.

The only difficulty I get is when 100k+ lands up in my nominated high street bank account and I try to get them to pay the money into a newly opened account with another provider using Faster Payments they make me run the gauntlet both at the branch and then again with their head office. The last time I went through the procedure I opened the new account and made two smaller 1k payments a couple of days before the existing account matured and was able to show the high street bank that the account was already open, up and running.

In the case of Families Building Society, only I have have had to register for online banking, the wife hasn't had to, so there would be no way in which they could ask for her authority.

Good Luck