Banks for joint accounts

What should you know about opening a joint account?

Opening a joint bank account in the UK is a fairly simple process that does not require significant effort. However, it is important to carefully consider each stage:

1. It should be understood that a joint bank account is a joint account between two or more persons. All account holders can top up, withdraw, or manage the account together. Most often, such accounts are opened by couples, family members, and business partners who aim to jointly manage expenses or savings.
2. The advantages of a joint bank account are convenience because each account holder has access to it; and transparency - each owner sees the movement of funds, and has a clear idea of ​​joint finances and expenses. In addition, it is much more convenient to pay joint expenses, for example, utilities, rent, and large purchases, within the framework of opening a joint account. Moreover, such accounts help build trust between partners and family members.
3. The main nuances of opening a joint account: all account holders are equally responsible for the account, especially for possible overdrafts and related debts. Therefore, the actions of each account holder can affect the credit score of other holders. Before opening a joint account, it is worth discussing not only the purpose of its opening but also the rules of use, to avoid disagreements.

How to open a joint bank account?

Step 1: Choose a bank after comparing all offers. It is worth taking into account commissions, interest rates, online banking options, quality of customer service, etc. Be sure to select the type of joint account: couple joint bank account, joint savings account, mother and daughter joint bank account, standard joint bank account, etc.

Step 2: Prepare all necessary documents for each joint account holder: identity card, proof of address, proof of income (not all banks require)

Step 3: Apply online on the bank's official website or visit the nearest branch in your city

Step 4: Sign the agreement after first reading all the terms and conditions of the joint account. Configure all functions and online banking

Step 5: Activate your account and start using it. Activation usually occurs by depositing funds into the account. It can be a transfer from another account or a cash deposit.

You can also place free funds on a savings account.

Calculate your future income on a savings account (example): 

Are there pecularities of mother and daughter joint bank accounts?

In the UK, a joint bank account is an account shared between two or more people, typically used by couples, family members, or business partners. When it comes to a mother and daughter joint bank account, there are no specific legal peculiarities that apply only to this relationship.

See the similar FAQ about the UK banks: 

• How do I open a business account in Metro Bank online?
• How many times may a failed HSBC secure key be entered before it is locked
• How much does bankers draft cost in HSBC?
• How to open a bank account in Lloyds?
• How to open a business bank account with Lloyds?
• Lloyds business banking app

Details of companies offering the financial services:

Bank of Scotland

Head office’s address: The Mound, Edinburgh EH1 1YZ

Phone: +44 (034) 5721 31 41

Web-site: http://www.bankofscotland.co.uk/

Swift code: BOFSGB31

Reference number: 169628

Stock code: 0076540

ABN: SC327000

BSB: BOFS

Barclays Bank

Head office’s address: 1 Churchill Place, London E14 5HP

Contact center: 0800-400-100

Phone: +44 (034) 5734 53 45

Web-site: http://www.barclays.co.uk/

Swift code: BARCGB33

Reference number: 122702

Stock code: BARC

ABN: 01026167

BSB: BARC

First Direct

Head office’s address: 40 Wakefield Road, Leeds LS98 1FD

Contact center: +44-345-610-0100

Web-site: https://www.firstdirect.com/

HSBC Bank

Head office’s address: Unit 8, Canada Square, Retail, London E14 5AH

Phone: +44 345 740 4404

Web-site: https://www.hsbc.co.uk/

Swift code: HBUKGB4B

Reference number: 114216

Stock code: HSBA

ABN: 00014259

BSB: HBUK

Lloyds Bank

Head office’s address: 25 Gresham Street, London EC2V 7HN

Contact center: 0345-300-0000

Web-site: https://www.lloydsbank.com/

Swift code: LBGTGB22

Reference number: 119278

Stock code: LLOY

ABN: 00002065

BSB: LBGT

Monzo Bank

Head office’s address: Broadwalk House, 5 Appold St, London EC2A 2AG

Contact center: 0800 802 1281

Phone: +44 20 3872-0620

Web-site: https://monzo.com/

Nationwide

Head office’s address: Nationwide House Pipers Way

Contact center: 0800-30-20-15

Phone: +44 (034) 5730 20 15

Web-site: http://www.nationwide.co.uk

Swift code: NBSMGB22

Reference number: 106078

Stock code: NBS

ABN: 355B

BSB: NBSM

NatWest Bank

Head office’s address: 250 Bishopsgate, London, EC2M 4AA

Contact center: 0800-88-11-77

Phone: +44 345 788 8444

Web-site: https://www.natwest.com/

Swift code: NWBKGB2

Reference number: 121878

Stock code: GBP1

ABN: 00929027

BSB: NWBK

Revolut UK

Head office’s address: London

Web-site: https://www.revolut.com/

Royal Bank of Scotland

Head office’s address: 36 St Andrew Square, Edinburgh, EH2 2YB

Contact center: 0345-600-2230

Phone: +44 (070) 3597-88-42

Web-site: https://www.rbs.co.uk/

Swift code: ROYCGB2LCLS

Stock code: NWG

ABN: BR000548

BSB: ROYC

Santander

Head office’s address: 2 Triton Square, Regent's Place, London, NW1 3AN

Contact center: 0800-389-7000

Web-site: http://www.santander.co.uk/

Swift code: ABBYGB3E

Reference number: 106054

ABN: 02294747

BSB: ABBY

Starling Bank

Head office’s address: 5th Floor, London Fruit And Wool Exchange, 1 Duval Square, London, E1 6PW.

Phone: +44 20 7930 4450

Web-site: https://www.starlingbank.com/

Swift code: SRLGGB3L

Reference number: 730166

Stock code: STERLNB

ABN: 09092149

BSB: SRLG