Joint bank accounts

Karnam

As me and my partner are to have a baby very soon ( less than 6weeks away!) we want to open a joint bank account in order to recieve Child Tax Credits which we can both access, as well as give each other the chance to 'dip' into money for the baby when we need to without having to ask each and then go to the bank etc etc.

We're unmarried, both with no income whatsoever (students don't get any benefits!) but we do live together and we will be eligiable for max CTC when baby comes. Partner will begin work in maybe 6months but has no intention of putting wages into a joint account (feels better for both of us to keep our own money things seperate and only share baby money things for now) so hopes to set up some kinda of Standing Order into our Joint account from his Current Account. We have no need for an overdraft facility on a joint account as we both have our own overdraft facilites in seperate current accounts.

What banks do Joint accounts? What kind of security? Do we both get cards each, do we have to sign all cheques together? I can't seem to find anything on the websites for our current accounts (HSBC, Egg, Halifax) about Joint accounting. How do they work out? Do people find joint accounts are just a hassle? We don't have any money to fight over but do joint accounts cause too much hassle for all involved? What's the best one?

omega27

Every bank I can think of does joint accounts. If you've got existing student accounts, it would be worth approaching you current bank(s) about opening/converting to a joint account. Normally one of you can authorise anything, but you can specify both signatures are needed for cheques/DDs etc..

Had to open a joint account with the wife as we got a cheque from the solicitors in joint names, we used HSBC so just phoned them up & then went into the branch to sign. Only problem was both cards were identical apart from the name, so there was no way of identifying who made which card transaction.

Moved to a Lloyds Premier & as well as being fantastic, we both have different cards & the statment has the last 4 digits next to each transaction.