Easy to open joint account?
Discussion
I need to open a joint account with my ageing mother. I really don't want to have to take her to a branch and go through all the rigmarole, really want an online application process if possible. Any recommendations?
We only really need the account for paying in and holding some money from other random accounts she has. I can then administrate it for her. So just a basic account.
We only really need the account for paying in and holding some money from other random accounts she has. I can then administrate it for her. So just a basic account.
Whenever I've opened a joint account there's always been a certain amount of faffing about at the branch. It's easiest if you're both already sole customers at that bank but there are still some hoops to jump through.
An alternative approach might be for "her" to register her existing, sole name account for online access and then share the details with you.
An alternative approach might be for "her" to register her existing, sole name account for online access and then share the details with you.
As mentioned both Monzo and Starling have this feature.
Need individual accounts first, all done through phone apps, might need a burner phone for her to have the app on.
Instant notification of any spending too, so could be good for you to help monitor and ensure no one attempts any frauds against her.
Can also instantly lock the card in case it goes missing, and open it again if found.
Need individual accounts first, all done through phone apps, might need a burner phone for her to have the app on.
Instant notification of any spending too, so could be good for you to help monitor and ensure no one attempts any frauds against her.
Can also instantly lock the card in case it goes missing, and open it again if found.
As above, power of attorney makes things much simpler. Her money is still hers, but you can have full control of the account as if it was joint - debit card, sign cheques, online access, etc.
Chances are you will need power of attorney at some point in the future, so might as well do it now.
Chances are you will need power of attorney at some point in the future, so might as well do it now.
clockworks said:
As above, power of attorney makes things much simpler. Her money is still hers, but you can have full control of the account as if it was joint - debit card, sign cheques, online access, etc.
Chances are you will need power of attorney at some point in the future, so might as well do it now.
Agreed, and skip the joint bank account.Chances are you will need power of attorney at some point in the future, so might as well do it now.
Simpo Two said:
clockworks said:
As above, power of attorney makes things much simpler. Her money is still hers, but you can have full control of the account as if it was joint - debit card, sign cheques, online access, etc.
Chances are you will need power of attorney at some point in the future, so might as well do it now.
Agreed, and skip the joint bank account.Chances are you will need power of attorney at some point in the future, so might as well do it now.
Thanks for the replies. Power of Attorney is already done and ready to use as and when.
I'll check out the various accounts mentioned above. I actually already have a Starling account, so an option, however really wanted to look for a bank/BS with a high street presence, my mum would prefer that I think.
I'll check out the various accounts mentioned above. I actually already have a Starling account, so an option, however really wanted to look for a bank/BS with a high street presence, my mum would prefer that I think.
thegingerone said:
Starling. I have a joint account with a mate (don't ask) was easy, all online and done in two weeks. service has been great too...
Just a heads up to be very careful about joint accounts unless you know that person has a squeaky clean credit history. I opened one with the girlfriend only for some grocery money and then saw my credit rating fall. Only later did we find out that there was a £12 unpaid phone bill on her file where she had moved address and not received an invoice that had tainted her. By association through the joint account that tarred me with the same credit brush.
megaphone said:
Thanks for the replies. Power of Attorney is already done and ready to use as and when.
I'll check out the various accounts mentioned above. I actually already have a Starling account, so an option, however really wanted to look for a bank/BS with a high street presence, my mum would prefer that I think.
By 'high street presence' do you mean that she'll want to go to the bank herself, or that the name will make her feel more at ease?I'll check out the various accounts mentioned above. I actually already have a Starling account, so an option, however really wanted to look for a bank/BS with a high street presence, my mum would prefer that I think.
Consider who is actually in charge of the finances, you or her? Either she's in charge and of sound mind and you just line up the bills and keep a watching brief, or you say 'sit back and relax mum' and take over, I suggest.
Nickbrapp said:
Me and my partner converted my current account with NatWest to a joint account online, was really easy
Im currently with Barclays and have been for over 30years. Are you using Starling for everything banking wise, or still keeping your Natwest account as well? I have my current, savings and ISA with Barclays, but credit card and loan through Santander.
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