Skip to main content

What is a joint bank account?

Let's couple up. A joint bank account is sharing a current account with someone else. It can be a great way to manage your shared finances; savings and spending.

This could be your partner, your roommate or maybe even an elderly relative. You'll share all the ins and outs of the account so choose wisely.

Share your spending

Bring your cash together for stress free money management of your shared bills.

  • Budget like a boss with our in-app budgeting tool
  • Tag your spending to see where you can save
  • Earn wallet-winning cashback on qualifying purchases
A phone with the app on it, showing a Joint account with a balance of £1,800. Beneath are two transactions - Electric company, bills - direct debit, minus £106.41, and Netflix, £10.99.
A phone with a rectangular tile which shows a Joint Saver account with a balance of £13,800, and another tile showing Holiday - £1,800 of £1,800 and the word "Goal!", then a third tile saying "New home" £12,000 of £12,000

Power up your savings

Saving for that once-in-a-lifetime trip or a new home together? Open an M Plus Account or a Club M Account and you'll get a high interest paying current account with linked savings account that work beautifully together.

  • Hit the high notes with a high interest rate on your current account and savings balance
  • Set up savings pots in the app to achieve your shared savings goals
  • Save, with zero fees when you spend on your card at home or overseas

Important Information

From 1 August 2024 we will be reducing our M Plus and Club M Current Account rates from 2.02% AER3 (2.00% gross3 per annum) to 1.00% (AER3 gross3 per annum) on balances up to £1,000. If you fully switch your current account from another provider using the Current Account Switch Service including two direct debits by 26 June 2024, you’ll get: 10% Gross3/10.47% AER3 fixed rate bonus on balances up to £1,000 from 1 July 2024 to 30 June 2025. Anyone who qualifies for the 10% bonus offer will receive an additional 1.00% AER3/Gross3 bonus on balances up to £1,000 from 1 August 2024 - 30 June 2025. The switch offer is available to new customers only. Terms apply.

Joint account FAQs

How can I open a joint bank account online?

Simply choose an account that you want to apply for and click the Get started button. Select Joint Account and we'll take you through the online application.

Who owns the money in a joint bank account in the UK?

Both joint account holders own the money in a joint bank account.

What happens to a joint account when one person dies?

Please give us a call and our dedicated bereavement team will help you through this.

How do I close my joint bank account?

If you go your separate ways and wish to close your joint bank account, we’ll need both parties to agree in writing. You can then divide the money between you. Any overdraft on the account would need to be paid off before you can close the account.

How do I take my name off a joint bank account?

If you’re struggling to communicate with your joint account holder, you can contact us to cancel access to the account. The account is then frozen so no one can use it, including you. We will only close the account when everyone agrees how to split the money. If you can’t reach an agreement, you may need to go to court for an agreement to be reached.

Stories you might like...

Apply for a joint account today

Explore our current accounts

Easy and quick. No complex information required.

Michael Woosnam

[1] 2.02% AER (2.00% gross per annum variable) interest rate, paid monthly, on your M Plus Account balance up to £1,000.

[2] 2.50% AER (2.48% gross per annum variable) on savings balances up to £25,000 and 2.00% AER (1.99% gross) on any balances above £25,000. Interest paid quarterly.

[3] AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once each year. Gross rate interest payable without taking account of any tax payable. Credit interest is calculated daily on the cleared credit balance in your account.