Simplify shared costs with a joint bank account

You'll both need to have your own Monzo personal accounts first – if you don't have one yet, you can sign up here and apply in under 10 minutes.

Once you've both got personal accounts, just tap the '+' icon in your app, select 'Apply for a joint account'. You'll both need to be 18 or over and live in the UK full-time. Your joint account cards should arrive within a few days, and you can add your joint account cards to your digital wallet straight away.

When you open a joint account with someone, you keep your own credit scores. They don’t merge, and one person’s score doesn’t directly change the other’s.

You create what’s called a ‘financial association’. This means that things that happen on your joint account – like missing a payment, or going into an unarranged overdraft – can affect your individual scores.

And if you apply for a personal loan, lenders may look at the credit file of the other person on your joint account to help them decide if they can lend to you.

You can open a Monzo joint bank account with anyone you like – your partner, soulmate, friend or flatmate. The only requirements are that you both already have Monzo personal accounts, you're both 18 or over, and you're both UK residents. Just make sure it's someone you trust, since you'll both have equal access to everything in the account.

Yep, you'll need to keep your personal Monzo account open even after you've got a joint account. They work alongside each other so you'll see both accounts in your app, and you can easily move money between them.

Absolutely. You can open an Instant Access Savings Pot in your joint account and earn 2.75% AER interest (variable), paid monthly. If you both have a Perks or Max plan you’ll get our boosted interest rate of 3.25% on joint savings.

Perks is £7 a month, Max is £17 a month.

There's no minimum deposit, and you can save up to £1,000,000 per person. You can both pay into it and withdraw money whenever you need it.

Your joint account works a lot like a personal current account. You can both use your cards for everyday spending, set up Pots for shared budgets, see your transactions in real time, and get instant notifications when either of you spends.

You can also set up Direct Debits for bills, use Salary Sorter to move money automatically, and track your spending with Trends.

If you're sharing costs like rent, bills and food, a joint account can make budgeting feel easier. You'll both see exactly what's going out and coming in, and you won't have to keep transferring money back and forth.

It's particularly handy for household bills and shared goals like saving for holidays. Just remember you'll be financially linked, so make sure you're both happy with that before you open one.

When you open a Monzo joint bank account with someone, you become linked to them financially. That means you can be jointly credit-scored, and their credit history can have an impact on yours.

You can have an overdraft in your personal account but not your joint bank account.

We accept passports, driving licenses (provisionals are fine), national ID cards and biometric resident permits. You also need to be at least 18 years of age and live in the UK full time.

Even if one of you contributes a lot more money, legally anything in the account is split equally. It’s important you trust who you’re planning to open a joint bank account with.

First, you or the person you share your account with need to withdraw all the money from your joint bank account. After that you’re free to go ahead and close the account from in the Monzo app.