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Joint Savings Account with Direct Debit Facility

Last post Sat, Jun 20 2009, 3:09 PM by Jalexa. 2 replies.
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  •  Thu, Jun 18 2009, 10:49 PM

    Joint Savings Account with Direct Debit Facility

    Hi is there such a thing. We are looking for a savings account so we are not connected financially however we want the ability to pay rent and council tax via drect debit out of it. Any help would be appreciated.

    • Post Points: 35
  •  Fri, Jun 19 2009, 7:05 PM

    Re: Joint Savings Account with Direct Debit Facility

    The nearest to what you want would be a savings account and a current account with the same bank/building society. You could then transfer funds instantly from one to the other, subject to any terms.
    • Post Points: 5
  •  Sat, Jun 20 2009, 3:09 PM

    Re: Joint Savings Account with Direct Debit Facility

    cew:

    Hi is there such a thing.

    Despite my response to your other thread I am no longer 100% confident that a joint savings account wouldn't end up as linked even if that is down to bank incompetence. Having re-read the Experian FAQ this whole linking thing is even scarier than I thought. You are right to be concerned.

    I'm not sure if there is a savings acount which does what you want.

    Possibly the way out of this is for one of you to have a sole basic bank account only for the houshold direct debits and both parties fund it in which ever way you agree making sure its not used for anything else.

    Two people living at the same address, not having a joint account or ever making a joint application for credit are not grounds for a financial association.

    • Post Points: 5