Joint Account to use abroad

ashulton

Hi

I'm looking to set up a joint account which is good to use in France.

Basically there are 6 of us (3 couples) who would like to set up a joint account, either between 6 or 3 people that doesn't attract fees etc when you use it in France.

I have looked at the Nationwide Flexaccount mentioned on this website, but the Flexaccount can only be opened with 2 people. It may be our only solution, but I was wondering if anyone knew of any similar accounts that can be opened with 3 or more people.

Thanks

skyrider007

HSBC Premier Account is best for you

http://www.hsbc.fr/1/2/hsbc-france/particuliers/international/banking-in-france

You may also want to have a look at Société Générale

http://par.societegenerale.fr/EIP/resources/production/THEME/international/impatries_version_anglaise/impatries_Details_about_the_bank_in_France/

ashulton

hiya
thanks for getting back to me, but i'm not moving to france, i'm only going there on holiday for a week or so. the thing is that will have a lot of chared expenses so it would easier to just pay be card.
thanks

morg_monster

Is it really worth linking your financial records to those of 2 or 5 other people just for the sake of a one week holiday?!!!

When I've been on holiday with others, we keep a record of how much each person pays for shared things, trying to keep it relatively even, and then at the end of the holiday, tot it up and work out who owes what, so that every person ended up paying the same amount. Then convert into £ and sort it out at home...

It seems total overkill to open a bank account for one holiday?! It seems to me to save only a small amount of hassle but has lots that could go wrong! Plus just the hassle of getting 3 (or 6!!) people to sign everything to open it in the first place. I really don't think it'd be easier than using your own cards as I said above or even just each contributing cash into a kitty.

ashulton

it might seem overkill, but it would be easier in the long run and we could use it for future holidays.

we don't want to be carrying round loads of cash and in france there would be numerous things each day that we would need 'joint' money for, such as petrol, tolls, parking, food shopping etc.

we are intending to pay into it every week to save up for the holiday as well so it would be better to keep the money in a joint account rather than under just one persons name.

the other problem is that no one currently has a card that is free to use abroad (like the flexaccount) so it would mean all of us opening our own individual accounts. therefore i think it would be easier to have just one account.

CLAPTON

you do realise that a joint account will link you all financially.
If one of you has a poor credit record then you will all suffer the consequences.
Also if there is an OD then anyone can misuse the a/c and you will all be equally responsible.

obvioulsy you are all good friends but stuff happens

complete madness

jonesMUFCforever

Most banks will not let 6 people on a joint account. The maximum will be 4.
I agree it is complete madness to do what OP is contemplating.

Richard019

As a side issue, is there anything to stop me for example having a French account that I deposit money in using a transfer from a bank over here to get the best rate, and then use my card on that account in the Eurozone free of charges?

Likewise an American account?

jonesMUFCforever

Richard019 wrote: »

As a side issue, is there anything to stop me for example having a French account that I deposit money in using a transfer from a bank over here to get the best rate, and then use my card on that account in the Eurozone free of charges?

Likewise an American account?

No but do French banks charge for an account - do they charge for cards and PINS?

I think you will be suprised how much you get for free from UK banks.

PeteMc

jonesMUFCforever wrote: »

No but do French banks charge for an account - do they charge for cards and PINS?

I think you will be suprised how much you get for free from UK banks.

My French Bank (HSBC) charge yearly for cards and quarterly for account maintenance.

Most (if not all) banks here are the same.

jonesMUFCforever

PeteMc wrote: »

My French Bank (HSBC) charge yearly for cards and quarterly for account maintenance.

Most (if not all) banks here are the same.

That's what I thought.
In fact I think it is a criminal offence in France to write a cheque knowing that there are no funds in the account to meet it.