Setting up a joint account and which bank?

rizzee

Hi,

Myself and the other half are thinking of setting up a joint account in the hope of saving small, equal amounts each week that will help us in years to come with a mortgage.

We are a young couple, both using different banks at the moment, she is with BOI and I'm AIB.

We just want to know if it is possible to create a new account with whatever bank has the cheapest charges, then direct debit a portion of our weekly wages each into the new account? We wouldn't be touching it at all.

Is that generally how it works?

Any suggestions would be most welcome.

Thanks

JTMan

Would you be better with a joint savings account rather than a joint current account?

rizzee

JTMan wrote: »

Would you be better with a joint savings account rather than a joint current account?

Yes that's what I mean, sorry.

JTMan

A KBC Extra regular saver @ 2.50% AER variable which allows lodgements up to 1,000 EUR per month might be your best option. This product requires you to open a KBC Extra Current Account but there are no fees provided you deposit at least 2,500 EUR per month into the account.

rizzee

What's the general quarter fees in banks these days? We are both on student accounts, although haven't been a student for 3 or 4 years! So little to no charges or transaction charges.

Just want to cheapest available to set up, or might even try a credit union.

EBS money manager current is fee free.