Simplify shared costs with a joint bank account

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.

But when you open a joint account you do create what’s called a ‘financial association’ between you. 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.

Applying for personal credit


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

Applying for joint credit


If you apply for a joint loan or mortgage, lenders will look at both your credit scores. Any decisions made on joint credit applications can affect your individual scores.



Ending your financial association


If you want to end your financial association with one another, close any joint financial products first. You can then ask each of the credit reference agencies (Experian, Equifax, and TransUnion) to end your financial association. It’s free to do.

We accept passports, driving licences (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 account with.

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

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.

Yes, you'll need to keep your personal Monzo account open. But if you mainly use your joint account day-to-day, you can hide your personal account so it stays out of the way. You can still access it and move money between accounts whenever you need to.

Absolutely. You can earn 3.15% AER (variable), paid monthly, for making 2 (or fewer) withdrawals a year with Select Access Savings. Withdraw your money instantly, any time. £500 minimum deposit.



If you need to withdraw more, your rate will be lowered to 2.60% AER (variable) until your next Pot anniversary.



You can also 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.

You both do, equally. Either of you can spend, move, or withdraw money whenever you like – which is why it's worth opening one with someone you really trust. If things ever change and you close the account, you'll both need to agree on how to split what's left.

Yes. You can set up Direct Debits and standing orders straight from your joint account, so covering rent, bills, and subscriptions together is simple. You can both see and manage everything in the app.

Yes. You can use the Current Account Switch Service (CASS) – a free service that moves your Direct Debits and payment history across in 7 working days. You'll both need to agree to the switch before it goes through.