When there’s more than one of you, managing household bills can be easier with a joint account because you don’t have to work out who’s paid out what each month.
You don’t have to put all your cash into it either. Instead, you can choose to have separate bank accounts for your personal spending and open a joint one for household bills, such as your rent or mortgage, utility bills and the weekly shop.
If you choose this option, it's a good idea to agree in advance how much you’re each going to pay in each month and set some ground rules about what you’ll use the account for. If you have money left over at the end of the month, discuss how you’ll spend or save it.
Things to consider
When you open a joint bank account, you’re putting trust in whoever you open it with so be sure you really know them before applying. This is especially true with flatmates you’ve not known for long. If you go overdrawn, your bank will hold you both liable for paying off the debt regardless of who actually spent the money.
You'll both need to go through a credit check to open a bank account so it pays to be open and honest about your finances from the start to avoid any surprises during the application process.
You should also decide what would happen to the account if you were to split as a couple or go your separate ways as friends. It may not be an easy conversation but it could save a lot of arguments later, especially if one of you contributes more than the other.
Closing a joint bank account
Before you contact us
If you need to close a joint bank account, discuss between you what needs to be done about any Direct Debits or standing orders. You’ll need to cancel them 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 account holder, cancel the joint account mandate straight away. This will mean that neither of you can use the account until you’ve reached a settlement.
Important information about past current account statements
When we close your current account, we’ll send you five years’ worth of paper statements – unless you tell us you don’t need them.
We have to do this because of banking regulations. If you don’t want them, just let us know when you contact us to close your account.
If you find you do need these statements in the future, you can request them at any point, but we can only provide them from five years before the date you ask us.
If you don’t give us a preference and you don’t have another account with us that you’re keeping open, we’ll send all the statements within 10 working days of closing the account. It may be a lot of paper.
If you do have another account with us and you use Online Banking, you can see your past statements there, so we won’t send them by post.
Closing your account
You can close your current account by visiting us in branch. You’ll need to bring your debit card and chequebook with you, if you have them with the account, and two documents as proof of your ID and current UK address.
If you want to close your account by post, please print out the account closure form and fill in all the details – if you do not complete all sections, it might take longer to close your account. It must be signed by all account holders.
If the account had a debit card and chequebook, you’ll need to cut them up and return these too.
Send the completed form to