DMP bank account

hi all, sorry if this is in the wrong section. Is it possible to open a joint account with my partner while I'm on a dmp, the bank we are looking at is not connected to any of my creditors, just wondering if this is still possible.thanks in advance.

Comments

  • Suseka97
    Suseka97 Posts: 1,562
    First Anniversary First Post Name Dropper
    Forumite
    I don't see why not, but you might find that you can only open a 'basic' account, rather than a standard one. To be honest, I have a joint basic account with my OH (although we also have joint DMP) and I find it works great. Basic accounts often don't offer cheque books and will have no overdraft facility.

    Then again - you might be fine if his credit rating is good. You can try opening online and see what happens.
  • Time2change
    Time2change Posts: 12
    First Anniversary First Post
    Forumite
    Thank you for your reply yh a basic account is fine I'm not looking for any more credit for a while.
  • National_Debtline
    National_Debtline Posts: 7,998
    First Post First Anniversary Combo Breaker
    Organisation Representative
    Hi Time2change


    I don't see any reason why you shouldn't be able to open a joint bank account as a credit check is not required for that type of account. Do be aware though, if you don't already have a joint account or joint credit with your partner, the new joint account will be creating a financial association between you and your partner.


    That means your credit files will be linked and the fact you are in a DMP might make it harder for your partner to obtain credit. If the credit files being linked is not an issue for you then there is no problem going ahead.


    Best wishes


    Susie
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
  • Suseka97
    Suseka97 Posts: 1,562
    First Anniversary First Post Name Dropper
    Forumite
    ....I don't see any reason why you shouldn't be able to open a joint bank account as a credit check is not required for that type of account.
    Best wishes
    Susie
    @natdebtline

    Hi Susie... I'm not sure that is entirely so. I had to open a new bank account whilst in my DMP and did so online. I applied for a standard current account and was turned down, but immediately offered a basic one. But perhaps that's just my bank.
  • National_Debtline
    National_Debtline Posts: 7,998
    First Post First Anniversary Combo Breaker
    Organisation Representative
    Suseka97 wrote: »
    Hi Susie... I'm not sure that is entirely so. I had to open a new bank account whilst in my DMP and did so online. I applied for a standard current account and was turned down, but immediately offered a basic one. But perhaps that's just my bank.


    Hi Suseka97


    My apologies, that should have said there is no reason why a joint basic bank account could not be opened as basic bank accounts do not require a credit check. But you are quite right that someone in a DMP could struggle to get a current account as they do require a credit check.


    Sorry for any confusion.


    Susie
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 342.5K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607.1K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards