I would like my own bank account, after years of only having joint accounts with DH - questions

[Celery]

I have been with dh for 13 years, married for 7. We have always had joint bank accounts. I feel now however that I would like my own account. The marriage is faltering, I'm not sure what is going to happen, but I would like to start being practical should the worst happen. What I would like to know is, would it be possible for me to open and maintain my own account without his knowledge? We also have a joint mortgage, and will be moving as soon as it is sensible to do so ( with the current housing market ). I presume when we move, the mortgage people will want details of all our accounts, so would it be possible to keep the fact that I have my own account secret from my husband.

Please, no marriage advice, or comments on the fact that I would effectively be lying to him. I've put this in the money matters forum, because I just want advice on the feasibility of having my own account without anyone else's knowledge. thank you.

Of course you can have access to your childrens money - if you have opened these accounts.
Any bank as far as I'm aware.

Why wouldn't a woman that splits with her OH want to ensure she's reasonably ok financially? Most men end up ok financially...all the ones that I've encountered and lived with have ended up with most of my money - not that I have much(cos they're theiving gits)hence having to borrow my two Dc's money to pay the mortgage.

My children only had a couple of hundred pounds between them. I don't have the money to save for myself, let alone put money into their accounts.
Luckily for me, there's never going to be another man to take me for a ride financially again.

Celery, good luck. I hope you manage to get some money behind you, regardless of whose name it's in.

solo - I really can't access this cash, other than to move it to another account in my DDs name. She has 7 accounts, spread across 5 different financial institutions.

The reason I am positive about this, is because I am in a very similar position to celery.

My DD has loads of savings (at the age of 2). Yet it is looking very much like I will be unable to house myself and DCs when my expartner and I eventually sell our property.

That money would be far better used to house her, than sitting accruing interest for the next 16yrs. What's most annoying, is that I put most of it in there

So, to clarify, I completely agree that a women splitting from her OH would want to ensure that she's ok financially. I am that woman

That's why I recommended the dodgy 'cashback scenario'.

Good luck celery.

Seriously, what is the account that you managed to access?

I have lots of savings in my own accounts that are under threat from my exP. It would be fantastic to be able to move them to my DDs account, thus protecting them from him.

And I could accrue 10% tax-free interest at the same time. Then withdraw them to add to house equity when it's sold, to buy us a new house.

Sorry celery for hijacking your thread. But this would be very useful to me right now.

I think you can open an account at the Post Office pretty quietly and easily - I had a friend who had had some bad debts and all sorts of other financial dipstickery: he had a post office account that he could pay his occasional freelance cheques into nd draw money out with about 7 days notice.

Celery, try Women's Aid or the CAB with regard to hiding 'emergency' accounts. I think there have got to be ways of hiding a sum of money from a partner or so many vindictive men wouldn't be able to do it so easily.

I have done a bit of research. Most banks, Lloydstsb and Nationwide for example, offer chldrens' accounts where a parent can have full control until the child turns 16. I think I am going to open an account in one of my childrens' names and give the paying in book to a friend to look after.

RambleOn - there are strict rules about using children's accounts to get tax-free savings. Details are on the money saving expert website - here.

My Dc's accounts were opened with the Wooolwich/Barclays. It was just a normal childrens savings account. Which bank are your Dd's savings in Celery?

A friend wont be able to receive the statements because it isn't your address. You have to prove your home address, so that just won't work.
MrsTM, yes, of course there are 'strict rules', but sometimes, these rules need to be flexed slightly to enable a woman to have a safety net or a safe haven or roof over her head without relying on the state or shelter. Life isn't ideal and sometimes you have to do things that you wouldn't ordinarily do. I'm not a dishonest person - far from it in fact, but occasionally, I've needed to be a bit 'flexible' in the way I conduct myself - including using my childrens money. Now, they have no savings or bank accounts(I closed them), but I'm not in debt.
If you feel badly about taking the high interest/tax free option, then open an ordinary adult style account in your childs name.

Sorry, I wasn't clear. My point isn't that it's unethical to arrange for money to leave a bad marriage. My point is that RambleOn might not know about the rules, and that it's a very bad idea to cheat the taxman, even if it's done in ignorance. Life is stressful enough.

MrsTM - thanks for the link, but I'm even more confused now! You're absolutely right, I clearly don't know/understand the rules!

Surely, keeping a roof over our heads can be construed as 'for the benefit of the child'?

RambleOn - I personally wouldn't worry about the "benefit of the child" thing (although please note that I'm not an expert, just an interested amateur). I would however be careful of the £100 interest limit. If the child gets more than £100 of interest from money that you specifically as a parent have given them then the taxman will want it to count towards your taxable income.

Does that make sense?

Ah yes, I did read that in your link. Thanks, v helpful.