Compare the best joint bank accounts in the UK 2023

Considering a current account as a couple? Learn about and compare the best joint bank accounts.

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Opening a bank account with someone else is not for the faint of heart. It may not be as romantic as a ring, but it's still a pretty big commitment. This guide focuses on current accounts that come with debit cards for everyday spending. We also have a guide on joint savings accounts if you are looking to save money for an extended period of time and earn interest on the balance.

Table: sorted by interest rate, promoted deals first
1 - 8 of 50
Name Product Ratings Account fees Funding requirement Interest (AER) Arranged overdraft Incentive Representative example Link
Current Account - Age 18 and over
Finder score
★★★★★
★★★★★
User survey
★★★★★
★★★★★
£0
No minimum funding requirement
0.05% AER
15% EAR variable
No fees overseas.
Current account switch service guarantee badge
No fees for spending or withdrawing cash overseas - currencies are converted at Mastercard’s standard exchange rate
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 15% EAR variable.
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HSBC Advance Bank Account
Finder score
★★★★★
★★★★★
User survey
★★★★★
★★★★★
£0
No minimum funding requirement
0% AER
39.9% EAR variable
Get access to a 5.00% AER/gross Regular Saver Account.
Current account switch service guarantee badgeRepresentative example: If you use an arranged overdraft of £1,200, you’ll be charged interest at at 39.9% EAR variable.
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View details
Bank Account
Finder score
★★★★★
★★★★★
User survey
★★★★★
★★★★★
£0
No minimum funding requirement
0% AER

(Subject to status)
Eligible for Regular Saver product.
Current account switch service guarantee badgeRepresentative example: 0% EAR (variable) on the first £25, 39.9% EAR (variable) on anything above that, giving a representative annual percentage rate (APR) of 38.9% APR (variable). Based on an arranged overdraft of £1,200.
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OFFER
Select Account
Finder score
★★★★★
★★★★★
User survey
★★★★★
★★★★★
£0
No minimum funding requirement
0% AER
39.49% EAR variable
Switch your current account to NatWest and you could earn £200 within 7 days of meeting eligibility criteria. T&Cs Apply.
Current account switch service guarantee badge
Use the Current Account Switch Service to close your current account held elsewhere and switch to NatWest. Apply online or via the NatWest app only. Pay in at least £1,250 and log in to the NatWest app within 60 days of account opening. NatWest will pay £200 into your NatWest current account within 7 days of meeting these criteria. If you've previously received a switching incentive from NatWest Group, you aren't eligible. You can only receive this offer once. 18+ and UK resident. Offer T&Cs, account eligibility and app criteria apply. Offer may be withdrawn or amended at any time.
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 39.49% EAR variable.
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Current Account
User survey
★★★★★
★★★★★
£0
No minimum funding requirement
0% AER
35.9% EAR variable
Current account switch service guarantee badge
Aged 16 or over, or 18 or over when requesting the optional overdraft. Subject to status and eligibility.
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 35.9% EAR variable.
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Barclays Bank Account
Finder score
★★★★★
★★★★★
User survey
★★★★★
★★★★★
£0
No minimum funding requirement
0% AER
35.0% EAR (Variable)
Join Barclays Blue Rewards to unlock member deals and gain access to exclusive savings products with competitive interest rate (Eligibility, conditions and a £5 monthly fee apply).
Current account switch service guarantee badgeAvailable to UK residents 18 or over. Manage your money with the Barclays app, Online Banking and more. You must be 18 or over to access this product in the app. T&Cs apply.
Representative Example: If you use an arranged overdraft of £1,200, you will be charged 35.0% EAR (variable). Representative APR: 35.0% (variable). Subject to application, financial circumstance and borrowing history.
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OFFER
Select Account
Finder score
★★★★★
★★★★★
User survey
★★★★★
★★★★★
£0
No minimum funding requirement
0% AER
39.49% EAR variable
Switch your current account to Royal Bank and you could earn £200 within 7 days of meeting eligibility criteria. T&Cs Apply.
Current account switch service guarantee badge
Use the Current Account Switch Service to close your current account held elsewhere and switch to Royal Bank. Apply online or via the Royal Bank app only. Pay in at least £1,250 and log in to the Royal Bank app within 60 days of account opening. Royal Bank will pay £200 into your Royal Bank current account within 7 days of meeting these criteria. If you've previously received a switching incentive from NatWest Group, you aren't eligible. You can only receive this offer once. 18+ and UK resident. Offer T&Cs, account eligibility and app criteria apply. Offer may be withdrawn or amended at any time.
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 39.49% EAR variable.
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View details
Reward
Finder score
★★★★★
★★★★★
User survey
★★★★★
★★★★★
£2 per month
Min. £1250 Per Month
0% AER
39.49% EAR variable
Switch your current account to NatWest and you could enjoy £200 plus monthly rewards of up to £5 if you choose a Reward account for just £2 a month. T&Cs apply.
Current account switch service guarantee badge
Use the Current Account Switch Service to close your current account held elsewhere and switch to NatWest. Apply online or via the NatWest app only. Pay in at least £1,250 and log in to the NatWest app within 60 days of account opening. NatWest will pay £200 into your NatWest current account within 7 days of meeting these criteria. If you've previously received a switching incentive from NatWest Group, you aren't eligible. You can only receive this offer once. 18+ and UK resident. Offer T&Cs, account eligibility and app criteria apply. Offer may be withdrawn or amended at any time. Earn up to £5 per month back: £4 in Rewards for 2 or more Direct Debits (2 of the Direct Debits need to be +£2 each) and £1 with 1 mobile app log in.
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 39.49% EAR variable. Account fee of £2 per month.
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Latest reviews of joint bank accounts

Starling Bank - Current Account - Age 18 and over

Current Account - Age 18 and over
Finder rating
★★★★★
Customer rating
★★★★★
Go to siteRead review

£0

Min. opening balance

£0

Account fees

0.05% AER

Interest (AER)

No fees overseas.
If you're looking to open a bank account with a friend or partner and you're both happy to bank online/via an app, take a look at the Starling Bank joint account. To qualify, you'll both need a Starling personal account, but it will then only take a matter of minutes to set up your joint account via the app. Once your account is up and running, you'll be able to receive instant payment notifications, so you'll know who is spending what, keep track of your monthly bill payments, pool your rent and bills so you can make your payments from the one account, and set savings 'Goals' for you to achieve together. What's more, should one of you lose or misplace your bank card, you can simply lock your card temporarily until it's found. There are no fees for using your card abroad, making it a good option for joint holidays. However, note there is no overdraft available.
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 15% EAR variable .
  • Free ATM withdrawals and spending anywhere abroad
  • Can deposit both cash and cheques for free
  • Spending insights and saving tools
  • 'Settle up' feature to split joint bills
  • Pays interest on current account balance
  • Overdrafts and loans available
  • Lower ATM withdrawal limit than some other digital challengers
  • No group savings feature
  • Doesn't have a specific monthly budgeting tool
  • No rewards program
Interest rate0.05% AER
Minimum opening balance£0
Minimum operating balance£0.01
Switch service guaranteeYes
Account fee£0
Overseas card transactions£0
Overseas cash withdrawals£0

HSBC - HSBC Advance Bank Account

HSBC Advance Bank Account
Finder rating
★★★★★
Customer rating
★★★★★
Go to siteRead review

£0

Min. opening balance

£0

Account fees

0% AER

Interest (AER)

Get access to a 5.00% AER/gross Regular Saver Account.
This account from HSBC could be a good option for those looking to open a joint account thanks to its smart money tools to help you watch your spending and stay on top of your finances. Its handy app lets you check your balance and send money quickly and easily. Plus you can pay in cheques just by scanning them with your phone, get instant notifications when money goes in or out of your account, and budget more easily by seeing how much money you have left once the bills have been paid. You will also get a minimum arranged overdraft offer of £1,000 when you open an account, which could come in useful if an unexpected bill takes you into the red. What's more, account holders can also benefit from discounts at places like Costa and ASOS through the home&Away offers programme. Opening a joint account can easily be completed online.
Representative example: If you use an arranged overdraft of £1,200, you’ll be charged interest at at 39.9% EAR variable.
  • Exclusive worldwide offers and discounts
  • Access to competitive savings account
  • Fee-free international transfers to other HSBC accounts
  • Cash withdrawal limit of £500 per day
  • No monthly account fee
  • You’ll need to meet set eligibility criteria
  • Interest charged on overdraft
  • Foreign transaction fee applies if you use your card abroad
Interest rate0% AER
Minimum opening balance£0
Minimum operating balance£0
Switch service guaranteeYes
Account fee£0
Overseas card transactions2.75%
Overseas cash withdrawals2.75%

Santander - 123 Current Account

123 Current Account
Finder rating
★★★★★
Customer rating
★★★★★
Go to siteRead review

£0.01

Min. opening balance

£4 per month

Account fees

2% AER

Interest (AER)

Earn cashback every month on selected household bills + 1.5% interest on your balance.
This account from Santander is well worth exploring if you're looking for a joint account to combine your money for joint bills. That's because you'll earn tiered rates of cashback on household bills such as council tax, water, mobile and home phone, broadband and paid-for TV packages, Santander mortgage payments, Santander home and life insurance, plus gas and electricity. What's more, you'll also earn interest on credit balances up to a set amount and be able to earn cashback at selected retailers. An arranged overdraft is also available. Joint account holders will both get their own debit card and both be able to pay into the account if required. Both account holders must update their own details with online banking. Keep in mind that you must meet certain conditions to qualify for the account and there is a monthly fee to pay - though, with two of you, you can split the cost.
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 39.94% EAR variable . Account fee of £4 per month.
  • Interest paid on in-credit balances
  • Earn cashback on selected household bills
  • Easy to apply for
  • Monthly account fee
  • High interest rate charged on overdraft
  • You’ll need to meet certain criteria to earn interest and cashback
Interest rate2% AER
Minimum opening balance£0.01
Minimum operating balance£0.01
Switch service guaranteeYes
Account fee£4 per month
Overseas card transactions2.95%
Overseas cash withdrawals2.95%

What’s a joint bank account?

A joint bank account is a current account held by more than one person at the same time. The limit is usually two, although there are some banks that allow more people to open an account together.

There are multiple reasons for opening a joint account, but basically, it can be a good idea when you already share some kind of money commitment with someone else: for example, if you have to pay the rent, the bills or a mortgage together.

A joint bank account works just like a regular current account. Standard features include a debit card, online and app-based banking, direct debits, standing orders and an overdraft facility. There are also joint business bank accounts to help with running a business.

How to open a joint bank account

These days, most banks allow you to apply for a joint current account online. Both of you will need to provide your personal details and to have your identity verified. Depending on the bank you’re applying with and whether you’re also requesting an overdraft, you may also have to go through a credit check.

In some cases, once you’ve completed the application form, you may be asked to pop into a branch and provide some form of proof of identity and proof of address. That’s usually when the bank is unable to verify your identity online.

The functioning of a joint account is governed by a document (generally referred to as a “mandate”) that details who can do what with the account. Both account holders will have to sign it.

Once the account is open, you’ll be able to register for online banking, download the app and fund the account. You should also receive your debit card and PIN within a few days.

From time to time banks offer switching bonuses if you close down your old account and switch to a new one. This also applies to joint accounts. Learn more about the latest switching deals and which banks are offering them.

Current switching deals

Below we have listed the latest switching deals on the market. This list is checked weekly and was last updated on 27 March 2023.
  • NatWest – Select and Reward accounts – £200 bonus
  • RBS – Select and Reward accounts – £200 bonus
  • first direct – 1st account – £175 bonus
  • Halifax – Reward & Ultimate Reward Current Accounts – £175 bonus
  • Ulster – Select account – £200 bonus
For more information about how to switch, head over to our switching deals guide.

Joint bank accounts compared

Below, you’ll find information Finder collected from August 2022 about the maximum number of account holders from a number of high street banks.

BankAccount nameMax no. of account holdersCan you convert a sole to a joint account?Both-to-sign account?
Bank of ScotlandClassic Account2YesNo
BarclaysBarclays Bank Account4YesNo
Co-operative BankCurrent Account3YesNo
First Direct1st Account2YesNo
HalifaxCurrent Account2YesNo
HSBCAdvance Bank Account6YesNo
Lloyds BankClassic Account2YesNo
Metro BankCurrent Account2YesNo
Nationwide BSFlexDirect Current Account2YesNo
NatWestNatWest Select2YesNo
Royal Bank of ScotlandRoyal Bank Select2YesNo
SantanderSantander 123 Lite2YesNo
Starling BankStarling Personal2Yes (subject to eligibility criteria)No
TSBSpend & Save5YesNo
Virgin MoneyM Plus Account2NoNo

Risks of a joint bank account

The reason why sharing a current account is such a big commitment is that both people have the same right to access the money in it. As a consequence, once you fund the account, you’re relinquishing control over your money and sharing it with another person. Doing this entails two sets of risks:

  • The other person may not stick to their end of the agreement and spend the money for themselves. You really need to trust the person you’re opening a joint account with. They’ll be able to spend the money how they wish; if they used the money for something you hadn’t agreed on, you wouldn’t be able to get it back. Things get even trickier if your account has an overdraft facility because both account holders are liable for the debt, even if the money was spent by one of them without the other person’s consent.
  • Your credit score could be impacted. A joint account creates a financial association between two people, so if the other person’s credit score dramatically worsens, yours could take a hit too. You can check your credit score here.

For these reasons, you should only open a joint account with someone who you trust completely and with whom you share a similar money management style. It’s also a good idea to have a conversation at the very beginning on how much you’re going to pay into the account and what you’re going to use the money for.

What to do in a dispute with another account holder

If things go wrong and you have a disagreement with your other account holder(s), then the first step you may want to consider is to cancel the account’s “mandate”, the document that details who can do what with the account. By doing this you freeze the account, which means that none of the account holders (including you) can withdraw the money.

This should give you time and space to resolve the dispute. Your bank or building society will only unlock the account once you convince it that you have agreed on how to split the money.

Sadly, if you can’t come to an agreement about how to split the money in the account, your only remaining option is to take legal action through the courts, which is likely to be expensive and messy.

How does income tax work with a joint account?

The introduction of the Personal Savings Allowance (PSA) in April 2016 means that basic rate taxpayers can earn £1,000 in savings interest per year without paying tax. Higher rate taxpayers can earn £500 in savings interest per year before paying tax, while additional rate taxpayers do not get a PSA.

The PSA covers interest earned in bank accounts, savings accounts, and bonds. With joint accounts, the interest is usually split equally between both account holders and goes towards each account holder’s respective allowance.

How to choose a joint bank account

To help you find the best joint bank account, you’ll need to work out what’s most important to you. For example, if you are planning to use your account to pay household bills, you might want to look for one that pays cashback on those bills. Or you might want an account that pays interest on your balance.

You will also need to consider whether you’re likely to need an overdraft. If so, you’ll want an account that charges a low rate of interest or offers an interest-free overdraft buffer.

If a few of you are planning to open a joint account, check the maximum number of account holders permitted – this is usually between two and four people. You might also want to check whether all account holders need to authorise transactions, or whether just one of you can.

Joint bank accounts and ‘mental incapacity’

If one account holder loses mental capacity, providers in England and Wales can choose to temporarily freeze a joint account. This would involve blocking debit cards, withdrawals, online banking and direct debits.

One way around this is to appoint a power of attorney in advance, which allows someone else to make decisions on your behalf should you lose your mental capacity. If you lose your mental capacity before being able to do this, a deputy must be appointed by the Court of Protection. This can take several months and it can be expensive.

In Scotland, banks must allow the other account holders to continue to use the account under the Incapacity Scotland Act, so long as it was set up on an either-to-sign basis.

In Northern Ireland the process will vary depending on the provider.

How to close a joint bank account

What happens if you break up as a couple, or if you move out and don’t need an account with your flatmate anymore? Well, as long as you both agree on this, there’s nothing to worry about. You can split the money left in the account, move it back to your individual current accounts and then close the joint account.

In order to do so, you’ll usually need to visit a branch together and bring your debit card and proof of identity.

If you disagree on how to split the money, you can get in touch with the bank to cancel the mandate. The bank will then freeze the account until all the parties involved reach an agreement.

Pros and cons

Pros

  • Makes it easier to split payments (for example, for the bills or the rent).
  • Helps with budgeting and saving – you can both commit to paying a portion of your salary into the account and then use it for, say, a holiday.
  • You can see the full picture of your finances, all in the same place.

Cons

  • You really need to trust the person you’re opening the account with.
  • If the other person has bad credit, your credit score may be impacted too.

The bottom line

A joint bank account is a good idea if you need your funds or savings to co-exist with someone else. So long as you find the right bank, trust the other person’s financial commitments, set out some ground rules and are aware of the potential credit score implications, it should be smooth sailing.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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