A smiling couple in a kitchen look at a mobile phone and drink coffee

Joint bank accounts

Opening a joint account

A joint bank account is no different to a sole current account except that either account holder controls it and can sign cheques, pay in cash and make payments. 

No fees to open or use your account.

What is a joint bank account?

A joint bank account is a current account you share with another person. For many people, the account is shared with their spouse or partner. Some people open a joint account to share bills, like people sharing a house. You can usually manage a joint account with an app, online, by phone or at a branch

How does a joint account work?

  •  Both people can have their income paid into the account. Both can make debit card or contactless payments and pay their bills with regular Direct Debits and standing orders
  •  You can also choose to have separate bank accounts for your personal spending and a joint one for household bills, such as your rent or mortgage, utility bills and the weekly shop
  • You'll both need to go through a credit check to open a bank account. It’s a good idea to be open and honest about your finances from the start to avoid having your application rejected

Is a joint account right for you?

  • It's a good idea to agree how much you’ll both be paying in each month. You should also set some ground rules for what you’ll be using the account for
  •  If you have money left over at the end of the month, discuss how you’ll spend or save it
  •  It’s important to make sure you trust the other person before applying. This is especially true with flatmates you’ve not known for long. If you go overdrawn, your bank will hold all account holders liable for paying off the debt
  • Decide what would happen to the account if you were to split as a couple or go your separate ways as friends. It might not be an easy conversation but it could save a lot of arguments later, especially if one of you contributes more than the other.

How to close your joint bank account

  • Before you contact us, agree how you’re going to manage any regular payments from the account. You’ll need to cancel any Direct Debits or standing orders, or move them to another account
  • You’ll also need to agree how you’ll pay off any overdraft
  • If there’s a dispute between you and the other person, cancel the joint account mandate straight away so neither of you can use the account until you’ve reached a settlement