Best shared account, monthly outgoings type option?

[snotrag]

Situation - own a house in my name. Live with long term partner - practically it is 'our' house. When re-mortgage comes around we will both be named on it.

Currently have personal accounts and we just pay for different things, transfer money back and forth to each other etc (which is fine, and works, but a bit of a faff).

Looking to open some sort of joint account to cover the joint outgoings - mortgage, council tax, yadda yadda, and also as a way to make some 'joint' savings, to pay for potential extension, future moves etc.

What's the best/most economical way to do this?

[C0ffin D0dger]

Santander 123 account is pretty good, 3% interest on £3k+ balance and cash back on some household bills etc.

[gd49]

I'm in a similar situation, except we've just bought and mortgage is in both our names. We're currently in a similar situation, transferring money between us and paying for different bits.

I think the Santander 123 account might be the best as there's cashback on some household expenses like utilities and council tax, and the interest rate above 3000 is one of the best. Do need to fund it by a certain amount a month and have at least 2 direct debits on the account but that shouldn't be hard.

Would be interested to hear what others are doing.

[Charlie1986]

I have just applied for a 1,2,3 account. the balance has to be over £3000 to get the interest rates

but also have a club LLyods, They will give you up to 5% for balances up to 5,000 over the month which is handy if both wages are paid in to it.

[Craikeybaby]

C0ffin D0dger said:

Santander 123 account is pretty good, 3% interest on £3k+ balance and cash back on some household bills etc.

I did this a few years back when my girlfriend moved into my flat (we since bought a house together), we both transfer money into the joint account and use that for any joint spending, bills etc and anything left over goes into a joint savings account, also Santander, purely to use the same online banking etc. Much easier than having separate accounts, or sharing one for everything.

[Rick101]

We do similar but with a First Direct account. She is only one named so only get one debit card but it's not too much of an issue.

I would used Satan-der. They have had a terrible reputation in the past, don't know if it still stands. Good rates but awful to deal with.

[Hammerhead]

Another tick for Club Lloyds.

[Charlie1986]

Hammerhead said:

Another tick for Club Lloyds.

what benefit did you choose? We went for the gourmet card which is handy as we have both Prezzo and Loch Fyne close by

[Hammerhead]

Charlie1986 said:

what benefit did you choose? We went for the gourmet card which is handy as we have both Prezzo and Loch Fyne close by

One of the magazine options.

[Charlie1986]

Hammerhead said:

One of the magazine options.

ill admit ive been impressed with Llyods with there customer service and everything recently

[Hammerhead]

Yup, they seem pretty good at customer level. I'll be switching my own main account from Barclays (who've given me nothing basically over the years) to Lloyds this weekend.

[Pheo]

Santander 123 account here, joint, along with Santander mortgage.

Not had any problems, but not done anything complicated up to now. Earn £15 or so a month in cashback, reasonable amount on interest if we carry a balance

[pmanson]

Nationwide FlexPlus;

£10 p/mth
3% interest on balances up to £2,500
Worldwide travel cover
UK and Europe breakdown cover
Family phone insurance
Extended warranty on appliances