Joint bank accounts: Good or bad?
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- Опубликовано: 12 июл 2024
- When you're living with someone, from your partner to friends, a joint account might seem like a sensible option for splitting shared costs. And once you're married you might be tempted to take things further and pool all your finances in the same account.
In this video I've taken a look at the good and the bad when it comes to joint accounts. The benefits aren't just convenience as joint bank accounts can also aid the conversation about money between couples. Meanwhile things to watch out for include how to make sure opening one doesn't hit your credit report and why it's vital you keep some money separate.
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#JointBankAccounts #Money&Relationships #PersonalFinance
Had one with my wife for 35yrs no problems. Everything earned into one pot we both trust each other
Do you feel by creating that financial association on your credit report.. if BOTH people have really GOOD credit scores but 1 has alot of debts (personal loans, Credits cards etc) it may effect the other persons rates or amount when they apply for loans despite not having much debt themselves and really good scores?
Hi Andy, yes we have joint account in HSBC. But one person is limited to check the saving account and other currency account. And even cannot see the credit card bill under this joint account too. Any suggestions from you? Thank you.
Hi, would you recommend any reward joint bank accounts? Thanks
Hi Andy! Would you recommend keeping £5k in a club lloyd's account (that pays 1% up to 4k & 2% 4 to 5k.) Or put it instead in a Marcus account ? Which brings more interest? Thanks!!
Sadly rates can change all the time so you could pick the one that's better now and the other would suddenly be better... I'd say the Marcus account is better as of you add more on top you'll still be earning interest. Do check it's the best easy access account out there right now though.
Credit scores are not impacted with linked joint bank accounts in the United Stares. Just an FYI.
Thanks, yes this is all UK based content!
Can i have one joint current account, and one joint savings account with the same bank?