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Joint bank account for student house? Watch

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    Joint bank accounts can link you to someone with bad credit like someone mentioned. Not ideal. Look at a company called glide they allow you to pay your share for the utilities. Clever.
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    I haven'r read all the responses so sorry if I repeat something.

    When I was a student this seemed like a GREAT idea. But for some reason it never took off the ground.

    Now I am super happy I didn't because the moment one opens an account together you become joined financially (obviously) and this can affect your credit in the future (if for example one of your friends goes into debt).
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    I can't imagine that's a good idea, particularly if you haven't known the people you're going to be living with for a very long time.

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    Www.glide.uk.com is the website. Take a look.
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    I wouldn't recommend that because then you would be financially associated with them and if they have bad credit they could bring yours down too. Even if they don't have bad credit now, you can remain financially associated to someone for 6 years on your credit file. You'd also have joint access to the account so if one of you gets the account into an unplanned overdraft, or even far into a planned overdraft, you'd be liable for it too.
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    I agree with what people have said here regarding credit rating and from working in opening bank accounts for a large bank it is very difficult if not impossible to get more than 2 names on an account, unless it's a business account or for charity. So it probably wouldn't work to have more than 2.
 
 
 
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