Open a new bank acc or do a joint acc?

edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
3 replies 1K views
BencaaBencaa Forumite
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edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
RBS have decided to close my local branch. Recently they seem to have decided that rural areas don't need an RBS, my nearest one is around 40 mins away and although I don't go into the bank very often it's more a principal thing.

My partner banks across the road at Bank of Scotland so my question is should I just join up with him or get myself another acc?

I am starting uni in Sept full time so apart from bursary and child benefit that's all I'll have coming in and wonder if having a joint will be easier to manage so that all money is coming in and out of the same acc?

TIA

Replies

  • bolistonboliston Forumite
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    main issue with joint account is financial linking on a credit report - if one holder gets a ccj or bad credit then the other holder could have difficulty ever getting credit
  • eskbankereskbanker Forumite
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    Bencaa wrote: »
    My partner banks across the road at Bank of Scotland so my question is should I just join up with him or get myself another acc?
    Best treat them as two separate decisions, i.e. whether or not you wish to combine your finances and which bank is best for you. The former is a far more important and significant issue, so don't let RBS's decision to close a branch influence whether you'll bank solo or joint....
  • Don80Don80 Forumite
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    I would suggest you open a Bank of Scotland account and use the switching service to move your account. Then if you decide to link your finances you could open another account together. I do think it's worthwhile keeping your own account as to date you don't seem to have considered this? As others have noted, you need to be aware of creating a financial link on your credit file.
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