Joint Account

[Bazile]

Have you got a joint Bank / building Society account with your wife/ husband /partner ?

[-SharonA-]

Yes! As hubby is not too fussed about money. He gets pocket money from me.

[davebro]

Dunno what the norm is but my sister was always in control of her family finances which seems to be common here.
But I don't think I could have enough trust to hand over control. Maybe it runs in families? (I think my mum ran the budget & my dad did the savings - separately.)

[davebro]

i.e. he gave my mum "housekeeping", covered his expenses & put away any surplus.

[Bazile]

Thanks for answering .

Just thinking in an emergency if there were separate accounts and one half needed to get hold of funds urgently .

Just curious how the good folk here on AB viewed the matter

[AuntPG]

Sqad // Common APG....not like you to be grumpy-;)//

Not grumpy Sqadlet, just brought up to not talk about money, especially to strangers.

If someone turned to you on the street and asked the same question what would you say? Any of you? ...yes thought so, mind your own business or worse Lol!

[windywillow]

If someone stopped me on the street, I'd give them the same answer as I've given here. That's all I'd reveal though.

[Bazile]

Why bother answering APG if you feel that way about a general question

[Caran]

I let my then husband join my current account when we got married.
I never saw a bank statement, he always had a good excuse. When he died 30 years ago I discovered I was £3900 overdrawn. It took me a long time to recover from that. I vowed never again.
When I met my OH 27 years ago I kept all my accounts as mine. He does the same. We have a Tesco account we use for joint purchases. Everything else is done on trust.

[jno]

I'd say "yes" to the same question from a stranger in the street, APG. On the same basis of anonymity, of course.

[Canary42]

No

[sanmac]

One good thing about having a joint account is that if your wife or husband dies without a will the account is easily transferred to you. If it's not a joint account it's a little more complicated.

[Sparkles62]

Yes, we both have our own, personal accounts, and we both put money ( by Direct Debit each month ) into a joint account.
The joint account is used to pay all the bills, Gas, Electric , food, TV license etc.

[barry1010]

Sanmac's reason is the same reason we have joint accounts. The account doesn't become part of the deceased's estate and the money is immediately accessible to the survivor.
One less thing to worry about at a distressing time.

[Redhelen72]

When we moved in we had separate account’s and after a couple of years he had a lovely savings pot and I had nothing as it was always my account being used, so we set up the joint one when we married.
We are a couple and it shouldn’t matter who earns more everything in the pot and equal amounts moved to savings.
Fair and equal

[sanmac]

Barry1010, my wife died in April and since we had joint bank and investment accounts everything was readily changed over into my name by right of survivorship. As you stated, one less complication to deal with at such a time.

[sanmac]

I forgot to add that she died without having made a will.

[naomi24]

We have joint accounts and our own accounts. Most of our funds are in joint names.

[barry1010]

Sanmac, it’s not just access to the money but it makes it much easier to keep/cancel direct debits and so on, doesn’t it.

[naomi24]

APG, if asked in the street I would say the same.

[sanmac]

That's quite correct, Barry1010.