Changing a single bank account to a joint one

W

Whatnow?

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Hi, Not sure this is the right platform to ask this question, but I don`t know where to turn to. When we came to Ireland in 2007, my husband opened a single bank account with AIB. He started to work, I stayed at home with the kids. I started to work in 2020, my salary is going to that account (basically we have one account, all the money we earn goes there and all the payments are taken from there). I have a card I can use, but whenever I try to pay online, my husband needs to approve the payment on his phone. It is very annoying, I cannot order a pair of trousers for my child without texting him to approve. Also, once he was in hospital and I could not pay for the rent as I don`t know the codes. I asked him multiple times to add my name to the account OR do something, but he says it is not that easy. What`s our best option? I feel very unsafe and uneasy about this, I am worried what if something happens to him and I am here without a penny with the kids. Do you have any advice? Thank you.
 
Thanks. Yes, we do argue a lot these days, but I guess we are just getting old... We have a Revolut account too linked to this AIB single account, he regularly transfers money to that Revolut account, he suggested that my salary should go there and that way we would have money on that even if he forgets to add money to it, but I don`t think this solves the problem as I only have the virtual Revolut card on my phone, his phone has the app, so I don`t think I can pay online with Revolut either...
He drives a lot, if he gets into an accident does this single name account mean that I cannot access our money even though we are married?
 
I’d open my own account if I was you. You’d have some control of money then. My husband and I have our own accounts that our salaries/pension go into. We both transfer the same amount each month into a joint account that the utilities and groceries etc are paid out of. It works very well. There’s autonomy for both parties which is incredibly important.
 
I'd ask at the bank. I'm with PTSB and had an account in my name. I asked about changing it to a joint account and they just needed my wife to come in with me and fill in some forms. The account was changed to both our names. Was simple enough but it's a different bank than yours.

The reason for me was after my fathers death. His bank account went into probate and my mother couldn't touch it. I don't want that to happen if myself or my wife dies. She got access eventually but it took a long time and the banks don't make it easy.

A way around your online issue though would be to get a Curve card in your name and add your husbands card to it (search for Curve: Cashback Digital Wallet on your app / play store). The first time you add the card he'll get asked to approve it. Then if you make any purchases online you use the Curve card number. The online retailer will send the usual prompt to your Curve app and you can approve there. I've done that with my & my wifes cards and it works fine, if a little bit technical.
 
Evie1962 so basically you have 3 accounts, one for you (single), one for your husband (single) and one joint account? So if we did this, we should open one single one for me and one joint for our everyday / monthly expenses? Sorry, I am completely new to this, I had a bank account in my 20s but 20 years passed since then. You are all right, I would need some financial independence.

Querty5 thank you, this Curve sounds good. He said that if we change the account to a joint one we will lose the credit score (? TBH I am not sure what that is, we have a mortgage and I don`t think we plan to get another loan).
 
My partner and I have exactly the arrangement that @Evie1962 describes. We each have a personal bank account into which our salaries/pensions are paid. We have a joint Revolt account and all of our bills are paid from this. There are standing orders on our individual account to transfer a fixed sum every week into the joint Revolt account. If the joint account looks like it will run short, we top it up or increase the weekly standing order. It works very well.
 
@Whatnow? Credit Score isn't a thing in Ireland. You can get your credit report at

Apply for your credit report and other rights

Information for consumers about the Central Credit Register
www.centralcreditregister.ie

If you apply for a loan / mortgage / credit card this will be checked. They know every (loan / credit card / mortgage) account you have open and every loan you have (down to the monthly payments). I don't see how having a joint account would affect any of the info on it. It's not negative, it just gives visability of how much you earn and how much you already owe so if you are asking for a pile of money they'll know if you're a good risk or not.

Like others on this thread myself and missus have a joint account and two free Revolut accounts. For us all wages go into the joint account and we pay all bills from that. We transfer the same amount for each of us to the Revoluts each month. This is our pocket / discretionary money. It works well for us. If I want more pocket money or my missus does we transfer the same amount to both of us.
 
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@ClubMan. You're absolutely right. I just checked a report I have here. It's just showing loans & credit cards and any applications I had done in it. I thought they had bank accounts. But I don't see them in my report.
 
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I don`t know about this, but he says if we close this single account and open a new, joint one AND we want to get a loan it will not be that easy as it would be now with the present, single account.
 
You are scaring me, I don`t want to be paranoid, but we do have our issues. I am just clueless what to do besides opening a new account for myself maybe.
 
Freelance said:
There are standing orders on our individual account to transfer a fixed sum every week into the joint Revolt account. If the joint account looks like it will run short, we top it up or increase the weekly standing order.
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We do the reverse. Salaries go into a joint account from which all bills are paid.

We then have an allowance to each personal bank account.

I think it’s healthy to have full transparency on income but a little bit of privacy on details of spending is okay.
 
Dr Strangelove said:
We do the reverse
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Whatever works for you !! I don't believe that there is a "one size fits all" solution. It's really a question of teasing out the options and tailoring something to suit your (plural) needs. In this case anything that shares the joint expenses in a manner that is equitable/agreed is good as it helps avoid the perception (or reality) that x is paying less than me or y is freeloading etc.

Whatnow? said:
You are scaring me
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You don't need to be scared by the off topic speculative points - ignore those. They aren't helpful and a pute speculation, made without knowledge of the facts.

Whatnow? said:
if we close this single account and open a new, joint one
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You don't need to close your partner's account. Open one for yourself and a joint one to pay the bills as @Evie1962 suggested. Your pssrtnerr's credit record will be preserved, and you will build a credit record for yourself. And if you jointly apply for a loan in the future both credit records will be available.
 
Open your own account, his reason is absolute rubbish, only debts like loans/credit cards appear on a credit report and there is no credit 'score' as such in this country. To give him some small leeway maybe if you have been abroad for a long time it was in a country that did have credit scores so maybe just maybe the reasoning is rooted in that.

That said get your own financial independance anyway one way or the other!
 
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