TSB joint accounts

TSB’s 2 main current accounts can double up as joint accounts, plus it’s one of the few banks that allow you to have more than 2 account holders.

Our verdict: Is a joint account with TSB worth it?

If you’re looking to open a joint account with multiple people, TSB is one of the few banks that allows you to have more than 2 account holders. What’s more, you can choose an account that offers rewards, fee-free spending overseas and an overdraft.

However, compared to some of its competitors, TSB’s range of joint accounts is fairly limited. So if you’re only opening an account for you and your partner or a friend, it’s worth exploring what else is available from other providers first.

Pros and cons of TSB joint accounts

Does TSB offer a joint account?

Yes, TSB offers joint bank accounts that help to take control of your shared bills and spending. What’s more, some of its accounts can be held by up to 5 people, making them ideal if you’re in a shared house.

Each account holder receives a debit card for everyday spending and you can manage the account via the app or online.

Keep in mind that everyone will be able to access the funds held in a joint account, so it’s crucial that you trust the other account holders. If you have an overdraft on the account, this also means you are all responsible for repaying it.

As TSB has a UK banking licence, funds are protected up to £120,000 per person under the Financial Services Compensation Scheme (FSCS).

Which accounts are joint?

You can turn the following TSB bank accounts into a joint account,

• Cash account
• Spend & Save
• Spend & Save Plus

TSB’s Spend & Save accounts come with cashback rewards – one of these accounts also offers fee-free spending abroad, but charges a monthly fee.

Alternatively, TSB offers a straightforward bank account with no overdraft that’s aimed at those who don’t qualify for any of TSB’s other accounts.

How do I get a joint account with TSB?

The only way to get a joint account with TSB is to open a sole account first and then add other account holders to it. To do this, you’ll need to book an appointment in a local branch or by video call and show a form of ID for all account holders.

To make sure you get accurate and helpful information, this guide has been edited by Kate Steere as part of our fact-checking process.

Written by

Rachel Wait

Writer

Rachel Wait is a freelance journalist and has been writing about personal finance for more than a decade, covering everything from insurance to mortgages. She has written for a range of personal finance websites and national newspapers, including The Observer, The Mail on Sunday, The Sun and the Evening Standard. Rachel is a keen baker in her spare time. See full bio