Joint Current Accounts

What is a joint current account?

A joint current account is a shared bank account where two or more people manage their money together. It can be ideal for couples, housemates, or family members who want to pool their finances for things like rent, bills and shared expenses.

With a joint account, both account holders have equal access to the account, meaning you can both pay in, withdraw and manage the money. It’s a great way to keep things transparent and organised when it comes to shared financial responsibilities.

Just remember, both parties are equally responsible for the account. So, it's important to trust the person you open an account with and keep communication open to avoid any financial hiccups down the line.

Which type of joint current account is best for us?

Choosing a joint account really depends on your circumstances. If all you need is a straightforward way to pay in some or all of your salaries and cover shared bills, a regular joint account might do the trick.

But there are other options. Many banks now offer joint accounts as ‘reward accounts’ that give you perks like vouchers that you can redeem with their retail partners. Accounts that give you cash back are also available - and some joint accounts let you choose whether to take your perks as cash or rewards. There’s often a monthly fee with these accounts, so do check that the cash back or rewards are worth it.

Some banks are especially innovative when it comes to the joint accounts they offer. You may find an account that includes travel insurance, breakdown cover and even mobile phone insurance as part of the deal. Again, just check on the monthly fee to make sure the perks are worth it.

We already have a joint current account, should we consider switching?

These days, switching bank accounts is quicker and easier than you might think – and it could really pay off. In fact, the Current Account Switch Service (CASS) saw a whopping 1.4 million switches in a single year.

If your joint current account does the job and you’re not having any issues, it might feel like there’s no reason to change. But that comfort zone could be costing you in missed perks and better features.

Some banks offer switching incentives, like cash bonuses, rewards or access to high-interest current accounts. So, if you’ve had the same account for years, it might be time for a little bank account spring clean. Whether you want to save more, earn rewards, or just get a better deal, switching could help you make the most of your everyday money.

What to consider when finding the right joint current account for you

With so many joint current accounts out there, picking the right one can feel a bit overwhelming. But don’t worry – it’s all about figuring out what matters most to you and how you manage your money day to day. Here are a few things to think about:

Monthly fees

Some accounts are free, while others charge a fee – usually in exchange for rewards or extras. Just make sure the perks are worth the price.

Overdraft options

If you sometimes dip into your overdraft, check whether the account offers an arranged one, and what interest you'd pay. Good to know: you may be able to switch accounts even when overdrawn, providing your credit history is in decent shape

Cashback rewards

Fancy cashback on bills or everyday spending? Make sure you’d actually use the account in a way that lets you earn it. Otherwise, that monthly fee might not be worth it.

Insurance extras

Some current accounts throw in things like travel insurance, phone cover, or breakdown assistance. Check what’s included – and double-check you're not already paying for the same cover elsewhere.

Mobile banking features

Love managing your money on the go? See what the bank’s app offers. Handy features like instant spend alerts or built-in budgeting tools can really make a difference.

The best account is the one that fits your lifestyle

...not just the flashiest one on offer.

Can we have more than one current account?

Usually you can have more than one current account, and that can make managing your money easier. For instance, if you are in a couple you might each have an account for your salary to come in and your personal bills to go out. Then you could have a joint account with your partner for shared costs like rent or the mortgage, plus household bills and food shopping.

Opening multiple accounts can also let you take advantage of perks like cashback or rewards. Just be careful not to spread yourself too thin across multiple accounts – especially if they come with overdrafts. It’s easy to lose track and end up in more debt than you planned.

It’s not very common, but some banks do require theirs to be your only current account, so it’s worth checking the fine print before signing up.

Current account guides

Explore more of our current accounts

More way to manage your money together

Page updated on 4th September 2025, Reviewed by Richard Groom