Nationwide FlexAccount
Account Fee & RequirementsOverdraftHeadline Interest
No monthly fee18.9% EAR
(£15 buffer)
0% AER
Free Multi-trip European insurance cover, No monthly fee, Independently rated 5 star by Defaqto
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 18.9% EAR (variable).
NatWest Select Account
Account Fee & RequirementsOverdraftHeadline Interest
No monthly fee19.89% EAR + £6/month
(£10 buffer)
0% AER
Earn 1% cashback on contactless payments with Cashback Plus. Voted the best card benefits programme of the year at the Card and Payment Awards.
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 19.89% EAR (variable) + £6 per month.
RBS Select Account
Account Fee & RequirementsOverdraftHeadline Interest
No monthly fee19.89% EAR + £6/month
(£10 buffer)
0% AER
Earn 1% cashback on contactless payments with Cashback Plus. Voted the best card benefits programme of the year at the Card and Payment Awards.
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 19.89% EAR (variable) + £6 per month.
Halifax Reward Current Account
Account Fee & RequirementsOverdraftHeadline Interest
No monthly fee£1-3/day
(£50 buffer)
0% AER
Up to £160 reward in year 1 made up of 12x£5 monthly rewards and £100 for switching. Switch covered by the Current Account Switch Guarantee.
£5 each month you pay in £750+, pay 2 different direct debits and stay in credit. T&Cs apply. £100 - use the Current Account Switch Service to transfer and close your old account held elsewhere. Excludes anyone who's had £100 for switching to Halifax since Jan 2012
Representative Example: If you use a planned overdraft of £1,200, then you will be charged a daily fee of £1. Overdrafts are subject to status.
First Direct 1st Account
Account Fee & RequirementsOverdraftHeadline Interest
£10 a month£250 interest
& fee free, then 15.9% EAR
0% AER
With the 1st Account you will get £100 for switching (if you've not tried them before) and a £250 interest-free overdraft comes as standard. Discover how easy it is to move your account. Plus £100 if you're not happy after six months and want to leave.
Monthly charge is waived if £1,000+ is paid in per month.
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 15.9% EAR (variable).
Barclays Bank Account
Account Fee & RequirementsOverdraftHeadline Interest
No monthly feenone0% AER
A straightforward bank account with a contactless debit card. Visit the Features Store to tailor your account with the features and benefits that fit the way you want to bank.
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged £1.50 per day.
Halifax Current Account
Account Fee & RequirementsOverdraftHeadline Interest
No monthly fee£1-3/day
(£10 buffer)
0% AER
A standard current account that's exactly what you'd expect. It's an easy and convenient account for your day-to-day banking.
£100 reward when using the Current Account Switch Service to transfer and close your old account held elsewhere. Excludes anyone who's had £100 for switching to Halifax since Jan 2012.
Representative Example: If you use a planned overdraft of £1,200, then you will be charged a daily fee of £1. Overdrafts are subject to status.
RBS Select Silver Account
Account Fee & RequirementsOverdraftHeadline Interest
£10 a month19.89% EAR + £6/month
(£10 buffer)
0% AER
Offers include - Taste Card for you to enjoy 2-for-1 meals or 50% off your food bill at thousands of UK restaurants (restrictions apply). Plus receive 25% cashback on tickets for theater, dance, opera & concert performances.
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 19.89% EAR (variable) + £6 per month.
NatWest Select Silver Account
Account Fee & RequirementsOverdraftHeadline Interest
£10 a month19.89% EAR + £6/month
(£10 buffer)
0% AER
Offers include - Taste Card for you to enjoy 2-for-1 meals or 50% off your food bill at thousands of UK restaurants (restrictions apply). Plus receive 25% cashback on tickets for theatre, dance, opera & concert performances.
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 19.89% EAR (variable) + £6 per month.
Halifax Ultimate Reward Current Account => £750 per mth
Account Fee & RequirementsOverdraftHeadline Interest
£10 a month
pay in £750+ a month
£300 interest
& fee free + £1-3/day
0% AER
£100 cashback - Available to new and existing customers switching an active bank account held elsewhere. To qualify, use the Halifax Switching Service to transfer and close your old account. Customers who've already received a Halifax switching offer (since January 2012) are not eligible for this offer. Overdrafts are subject to status.
Representative Example. If you use a planned overdraft of £1,200, then we'll charge you a daily fee of £1. For Ultimate Reward Current Accounts, you will pay the higher monthly account fee of £15 rather than £10 if you use your overdraft. This means there will be an additional indirect cost of £5 if you use the overdraft on this account.
Bank of Ireland Clear Account
Account Fee & RequirementsOverdraftHeadline Interest
No monthly fee15.5% EAR
(£20 buffer)
0% AER
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 15.5% EAR (variable).
Bank of Ireland Basic Cash Account
Account Fee & RequirementsOverdraftHeadline Interest
No monthly fee-0% AER
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged EAR (variable).
Bank of Scotland Classic Account
Account Fee & RequirementsOverdraftHeadline Interest
No monthly fee£25 interest
& fee free, then 19.94% EAR
+ £6/month
0% AER
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 19.94% EAR (variable) + £6 per month.
Bank of Scotland Classic Account with Control
Account Fee & RequirementsOverdraftHeadline Interest
£10 a month£25 interest
& fee free, then 19.94% EAR
+ £6/month
0% AER
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 19.94% EAR (variable) + £6 per month.
Bank of Scotland Platinum Account Ex/C
Account Fee & RequirementsOverdraftHeadline Interest
£17 a month£300 interest
& fee free, then 17.28% EAR
+ £6/month
0% AER
This product is only available to existing customers.
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 17.28% EAR (variable) + £6 per month.
Bank of Scotland Silver Account Ex/C
Account Fee & RequirementsOverdraftHeadline Interest
£9.95 a month£50 interest
& fee free, then 19.94% EAR
+ £6/month
0% AER
This product is only available to existing customers.
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 19.94% EAR (variable) + £6 per month.
Bank of Scotland Vantage Classic Account
Account Fee & RequirementsOverdraftHeadline Interest
No monthly fee
pay in £1,000+ a month
£25 interest
& fee free, then 19.94% EAR
+ £6/month
3% AER
(£3,000 to £5,000)
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 19.94% EAR (variable) + £6 per month.
Bank of Scotland Vantage Platinum Account Ex/C
Account Fee & RequirementsOverdraftHeadline Interest
£17 a month
pay in £1,000+ a month
£300 interest
& fee free, then 17.28% EAR
+ £6/month
3% AER
(£3,000 to £5,000)
This product is only available to existing customers.
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 17.28% EAR (variable) + £6 per month.
Bank of Scotland Vantage Silver Account Ex/C
Account Fee & RequirementsOverdraftHeadline Interest
£9.95 a month
pay in £1,000+ a month
£50 interest
& fee free, then 19.94% EAR
+ £6/month
3% AER
(£3,000 to £5,000)
This product is only available to existing customers.
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged 19.94% EAR (variable) + £6 per month.
Bank of Scotland Cash Account
Account Fee & RequirementsOverdraftHeadline Interest
No monthly fee-0% AER
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged EAR (variable).

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How to Set Up a Joint Current Account

by BillJ

We explain how to find the best joint current account, and how to go about opening a joint bank account that gives you the features you want.

Couple Paperwork

A joint bank account is simply a current account held in two or more names as opposed to one. They can offer a convenient way to manage shared expenses and household bills by cutting down on the administration you need to do.

Joint bank accounts can be opened by anyone, not just couples. This means you could equally set up a joint account with a friend or flatmate as you could with your husband, wife, civil partner, boyfriend or girlfriend. There's also no limit as to how many joint account holders there can be on one account.

Whether you're opening an account with your significant other, or someone else; choosing the best joint current account will save you time and money.

How to compare joint current accounts

To find the best joint account you should compare your options then prioritise the accounts that offer the features you want and whittle down your options so you're left with the account that gives you the best match.

When you're carrying out your shared bank account comparison you should look at whether monthly fees are charged (and if so how much and what you get for your money), the interest payable on the account balance and the cost of arranging or using an overdraft.

Finding out how you'll be able to access your account (in branch, online, via telephone) and whether you'll get a debit card and cheque book are also important features that should be considered.

Finally, each bank or building society will specify a number of terms setting out how the account will operate and how you will be able to use it, including:

  • Who can access money in the account
  • If permission is needed from the other account holders before you can make a withdrawal
  • Who can use any credit the account is eligible for
  • Who is responsible for repaying the whole amount of any overdraft (credit) on the account
  • What to do if your relationship with a joint account holder ends or changes

To get the most from your joint account comparison, you'll need to compare joint bank accounts to make sure that you're happy with their terms and conditions as well as the account features).

How to get the best joint accounts

The application for a joint account is much the same as for standard current accounts, with most banks and building societies offering options for opening a joint account online, in-branch or occasionally by phone.

Your joint bank account application confirms who is to manage the account, who is to be party to the account, responsibility for any debt attached to the account and you acceptance of the accounts terms and conditions. So, you should decide how the account will be managed before you apply. The bank or building society will produce an account mandate based on this that you'll each need to sign, to open the account.

By comparing the features, responsibilities, and terms and conditions attached to each joint account, you will be able to filter the best bank accounts for couples or house-mates based on your needs so you find the best joint account from the UK's top providers.

Something to bear in mind...

It's important to realise that when you open a joint account with someone (be it a friend, relative or significant other) you automatically become financially associated.

While this in itself isn't necessarily a problem if they have a good credit rating, if they don't or go on to have issues with credit down the line, then this may reflect badly on your own credit standing - at worst this could affect your ability to get credit in the future.

Furthermore, if you apply for a joint overdraft account then you will be jointly responsible for repaying any and all money borrowed - even if the other account holder is unable to.

Again, while this shouldn't stop you opening a joint account if you need to, you do need to consider whether you trust that the person you're going to open the account with won't leave you saddled with debt and a damaged credit rating!