Those that have or will have joint accounts...

Original post by BKtoLI

Jan 28, 2006 01:12 AM

How did you decide whose bank would be used for the joint account?

Did it boil down to who was willing to change, or was it a matter of which bank offered more benefits? Or was it just opened at a new bank all together?

I ask because my bank offers more benefits and no fees, but he wants me to change to his because he has bills automatically paid out of his acct every month. I told him I have bills paid out of mine also.

ChrissynRicky Posted: Jan 28, 2006 11:21 AM

Re: Those that have or will have joint accounts...

We kept our own accounts and opened a new joint account. All bills that we share - we pay from there. Otherwise, my paycheck goes to my account and I pay my own bills from there, and likewise for FI.

soontobemrsv Posted: Jan 28, 2006 11:31 AM

Re: Those that have or will have joint accounts...

Posted by MalteseMommy

Posted by eden

FH and I actually got a joint account a year ago when we decided to buy a place together - before our engagement. The joint account is used for all our joint expenses. We set up a % of our paycheck to be directly deposited into that account. Better to keep accounts separate. It'll come in handy when you want to splurge on something and you don't want him to know about it. ;)

Ditto!

exactly what we did

imyurfavgirl Posted: Jan 28, 2006 12:23 PM

Re: Those that have or will have joint accounts...

Posted by soontobemrsv

Posted by MalteseMommy

Posted by eden

FH and I actually got a joint account a year ago when we decided to buy a place together - before our engagement. The joint account is used for all our joint expenses. We set up a % of our paycheck to be directly deposited into that account. Better to keep accounts separate. It'll come in handy when you want to splurge on something and you don't want him to know about it. ;)

Ditto!

exactly what we did

us too

pupidda122505 Posted: Jan 28, 2006 01:21 PM

Re: Those that have or will have joint accounts...

Right after we got engaged we set up a joint savings account or what is better known as the 'wedding fund' lol He transferred his savings into my platinum checking because it gave us much higher rates than his bank. We still kept our seperate checking because we have seperate bills to pay each month and our direct deposit from work. Once we're married we'll merge the checking into one account as well, but I'll def. have something set up on the side for the occasional splurges

klingklang77 Posted: Jan 28, 2006 01:41 PM

Re: Those that have or will have joint accounts...

Posted by eden
Sorry just to clarify, I would go with the joint account not either of your existing accounts because I believe most banks will not allow you to add or delete a name to an existing account. You may wnat to check your banks to see if they would allow this.

most banks will, my bank did. i have a 2 accounts on my own and i needed to add my mom's name to an account b/c i was moving out of the country. they had no problems. i am adding FHs name in february and they said it was no problem. as long as you are there i dont see what would be the problem.

Goldi1021 Posted: Jan 28, 2006 01:43 PM

Re: Those that have or will have joint accounts...

His bank. Better benefits and options.

BernandRob Posted: Jan 28, 2006 01:48 PM

Re: Those that have or will have joint accounts...

We opened a joint account and a totally different bank all together from the one either of us had. We use my check to go into checkings to pay the bills and his goes into the savings for the house and pay for the wedding.

afrodyt2000 Posted: Jan 28, 2006 02:17 PM

Re: Those that have or will have joint accounts...

we have the same bank already. A few years ago when I was about to switchbanks, he told me the benefits of his bank and I switched, now we also have a joint checking account.

sarahthegreat Posted: Jan 28, 2006 02:29 PM

Re: Those that have or will have joint accounts...

we have seperate checking accts, but opened a savings acct at my bank...thinking about it, i don't know why we choose mine, it just made sense at the time....

LMFitz Posted: Jan 28, 2006 02:34 PM

Re: Those that have or will have joint accounts...

we have a joint checking account at his bank - I liked his bank more than mine. I also have accounts at my bank (mostly because I have a home equity line there and have to maintain accounts for a reduced interest rate). He also has another checking account at his bank - for his spending money. All bills get paid out of the joint account where we each deposit 80% of our pay.

If you have direct deposit - it makes stuff like this super-easy!

October Bliss Posted: Jan 28, 2006 02:43 PM

Re: Those that have or will have joint accounts...

Before we met I had 3 accounts. One checking, two savings. The second savings account was set up so I could save $$$ to go to Australia on vacation. I found that it was so great to have $$ transferred every month that I never closed it. The name on that account has now been changed from 'vacation account' to 'wedding account' and his name has been added to it.

He still has his one and only checking account at a different bank, and I still have my other two accounts.

We didn't shop around at all, it was just the most convenient way to do it. Now if he would only deposit the proper amount into the wedding account every payday, we might be able to afford this wedding!