Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Joint Bank Account Question

Options
  • 02-02-2011 8:20pm
    #1
    TheBody
    Registered Users Posts: 5,624 ✭✭✭


    Hi everyone,

    Myself and the Mrs got married last June. To date we have been carrying on as always with the finances....both of us work so we just pay for our own things from our own money and split bills etc roughly in half.

    I was wondering if there is any benefit/advantage to opening a joint bank account? Will it help when getting a mortgage etc.

    Thanks in advance!!


Comments

  • Options
    #2
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    Nope, no benifit for mortgage purposes. Best to open a joint savings account and show that you got a good savings habit and the exposable income for the mortgage and then of course your've got the funds for the deposit.


  • Options
    #3
    zetorman
    Registered Users Posts: 157 ✭✭zetorman


    Be very careful ???? God forbid anything was to happen to one of you !!! The survivor would not have any access to the other account without a lot of hassle. My advice is to open two new Joint accounts with any one of you to signs cheques etc. You can then close existing accounts and transfer debits etc to new joint accounts. To be really smart I suggest you use 2 different banks. Hope ye both stay safe


  • Options
    #4
    jethrothe2nd
    Registered Users Posts: 579 ✭✭✭jethrothe2nd


    zetorman wrote: »
    Be very careful ???? God forbid anything was to happen to one of you !!!

    No offence zetoman, but that seems slightly melodramatic.

    Op - I can't see it being of any benefit to a mortgage approval. It could have a negative effect though if it wasn't being managed properly...

    Me and my better half have a joint account - we both put in money every month and all the bills are paid directly from it. Works for us. If the system you have works for you, then no reason to change it!


  • Options
    #5
    Toboldlygo
    Registered Users Posts: 62 ✭✭Toboldlygo


    Big question with joint bank account is how much do you trust your partner?

    Imagine this scenario....You have 25,000 euro (your life savings) in your joint account and fall out with your partner, he/she raids the account and leaves a zero balance. You are left penniless and don't have any comeback! A joint account might sound all lovey dovey but remember 'Caveat emptor'!


  • Options
    #6
    Rebel1977
    Registered Users Posts: 802 ✭✭✭Rebel1977


    One thing you could do to safeguard your money is to have 2 to sign on all withdrawals.

    Best option would be to just use the joint account for bills etc, and transfer in enough to cover yer bills, keep your salary etc going through your sole account, you cant have her knowing everything!;)


  • Advertisement
Advertisement