Best Joint Bank Accounts in the UK

A joint bank account is an easy way to pay bills between you and your partner, but there not for everyone. With a joint bank account both parties have complete access to all money paid in - whether it was you who made the deposit of your partner. This is a great way to pay direct debits between two people but not recommended unless you'll be with your partner for the long run, as things can quickly take a turn for the worst if you break up in the future. The best joint bank accounts should offer competitive prices - if a charge is made - and protection for both parties and your finances.

Joint bank accounts can be used in a variety of ways but it's normally recommended to only put a percentage of your salary into the account each month, decided by both parties, to cover all bills and leave you both with your own money to spend afterwards. You can also find yourself saving a lot of money in a joint bank account as two incomes equals twice the amount you save.

However, with a joint bank account you and your partner are jointly reliable for the account. If you have an overdraft for instance and your partner runs over the limit, you're responsible as well. If things do unfortunately turn sour for both of you and your partner takes the money in the account it can be incredibly hard to prove which share of the money was yours and secure a refund, so think carefully before opening a joint account.


Best Joint Bank Accounts in the UK

Santander - Pays 5% on balances up to £2,500, 0% interest overdraft for the first 12 months, £100 switching bonus if you already have a joint bank account.

Halifax Reward Joint Current Account - £5 extra for each month £1000 is paid in, £1 per day on unauthorised overdrafts and a £50 cashback reward if opened through moneysupermarket.com.

Nationwide MySave Online - Savings account, 3.5% interest on balances over £1,000 and easy access to finances for both parties.


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