The Pros & Cons Of Joint Accounts

ok so im a young female my boyfriend is quite older than me and he makes good money, I will be making good money when I start dancing, so here’s my question...when I start making the money he wants full control of both our money, so we can save it and start owning property (and he already owns one right now) well im a lil scared to just handover my money, b/c im young and don’t understand the "rules of life" yet. well I told him im not just giving him my money cuz once we have $200,000 saved he could just run with it, so I suggested a joint account he said no way, and reading this review I understand now. well I said I want to go to a lawyer and get some kind ...  Read the complete review

Do I have absolute trust in this person? No, I don’t mean, “fancy him”, “she’s moving in with me” or “if I don’t agree he / she’ll think I don’t trust them”. I mean “have I known this person for long enough to know his/ her strengths and weaknesses and to know their attitude to money?” and “am I certain that they’d never do the dirty on ANYONE, not just me?” Now unless you can answer “yes” to the last two questions without having any reservations then you shouldn’t even consider having a joint account. Sounds a bit extreme – but it isn’t. ...  Read the complete review

My husband I have had a joint current account since January 1998. We both had our own current accounts. But as we where buying a house together we would need a shared account so that we could pool the house hold finances. This account was to pay all household bills such as food, electric, council tax. At first it was difficult to gauge how much to put it in it. But we had a £50 buffer zone for an over draft. There was no problem applying for the account. We finally chose HSBC (midland to most people)as they did not want a set amount of money paid in every month as it was a few months before we bought the house. I was annoyed that I filled the ...  Read the complete review

This is a warning for anyone who has, or is thinking of taking out a joint account. My parents had a joint account for a number of years, at the moment they are in the middle of a divorce. They are still living together at the moment as my Dad won't agree to selling their home. My Dad won't pay half of the bills, and the only way for my mum to do this was to take the money out of their joint account. When she went to the Bank, Which in this case is the Halifax she was devastated to be told that the account had been emptied and closed down. My Mum looked after the pass book, so he had obviously closed the account ...  Read the complete review