Joint Account

imperimus

My partner and i have decided that it would be a good idea to open a joint savings account for short term things such as holidays, cars and that sort of thing, however I am running into a few difficulties.

Firstly I applied for a HiSave account, but I have been unable to complete this as we do not have a joint current account (even though there FAQ says the terms are the same as a single application!!!). However I have found this is the same for the FirstSave account, and i am getting the impression i might not be able to do what i want. I have looked at the Icesave account but can not find the terms and conditions for there easy access account.

Has anyone got any advice that may save me hours of T&C reading?

Maybe we should get a joint current account, but would rather keep my pay in my account!

Thanks in advance.

Mark

10_66

I'm not absolutely sure, but I would imagine the reason they want you to have a joint current account is because the money in and out of these savings accounts is by Direct Debit, so they probably want to make sure that transfers go to accounts in the same name as the savings account (ie you're not transferring money from a joint savings account without the other account holder being able to access it). I've attached a link to Icesave's T&C. http://www.icesave.co.uk/downloads/ICE2008_V7_0108.pdf

imperimus

Thanks for the link!

I can not see anything in there that stipulates that the funds need to come from or linked to a joint account.

I can only imagine that they do it for security reasons; confirm the identity of the applicants, but it just seems a little rediculous as there is many other ways they can do this.

Thanks once again!