What’s the best joint current account?

[TheBerry]

Please can I have recommendations for the best joint current account for couples?

Google is being strangely unhelpful.

We don’t want to pay a monthly fee, unless there are some perks that really make it worth it.

We’ll probably be putting roughly £1500 a month in there and using it for bills, food, nursery payments.

Thank you!

Pretty much any current account?

Santander have worked for me since they were Abbey National. We chose to pay a fee as we get more back in interest and cash back.

I just wasn’t sure if some had maybe better interest rates (it seems like all joint accounts are 0%), or maybe some kind of loyalty scheme, or a transfer bonus, or other perks. Just that kind of thing.

Martin Lewis is pretty good for listing those the golden handshakes and such like.

Unless I’m missing it I can’t see anything on his site!

I get his newsletter which covers this stuff.

https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/

We use Starling for our joint account and it is so easy to use the app and administer things on there

We use Halifax and for 15 a month we get annual travel insurance (me, dh snd dc), RAC cover for us both, Mobile phone insurance and emergency home cover. Well worth it.

We use Starling, app is super easy and they have been very efficient when we have had issues (eg fraud on the account- refunded and new cards etc extremely quickly).

Monzo is great - easy to set up and can earn 4,6% interest in joint account (by opening a related savings pot)

We also use santander.

It works for us.

I think it costs £4 per month but we end up with £12 a month cash back, so we get an extra £8pm.

We then have an instant access high interest account linked to it. we are typically paid a week - 10 days before our main bills come out, so I ping the money across on payday, then back again on direct debit day so earn 5.08% interest on it for 12 - 16 weeks-ish a year

I was looking for information on this today too!! Thanks everyone.

Where are you seeing this? Joint current accounts work exactly the same as individual ones, with regard to interest, cashback etc, just that there are 2 account holders.

Anyway, we also have a joint Santander Edge account that pays around 3 or 4% interest and cashback on spending in supermarkets and on petrol so makes a profit over the £5 monthly fee - there's a few different versions depending on whether you want things like a linked savings account, cashback on DDs etc.

If you are able to set any money aside each month for savings, then perhaps look for an account that gives access to a regular saver with higher rates.

Nationwide has a regular saver paying 6.5% with limit of £200 per month (but you could open one saver account each if you have more to save), or First Direct has a regular saver at 7%.
First Direct are also offering £175 transfer bonus (check T&C’s).

You mention transfer bonuses. I find the best way to make the most of these is to open a dummy account each (so not using your joint main one), and both of you keep transferring the two dummy accounts whenever a new offer comes along. It’s quite a good earner as an extra sideline…particularly if there are two of you. Just study the T&C’s carefully for each offer.

I’ve moved from Barclays to Starling and much prefer it. Money is in ‘spaces’ and means I’ve completely change the way I manage my money. It’s completely curbed overspending. I can’t recommend it enough.

If you need car breakdown cover and travel insurance paid accounts like Nationwide's Flex Plus are good value as you only pay the fee once (£13) but both of you are covered, Lloyds have one as well plus extra benefits with Club Lloyds.