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Joint account

Joint Account Features

  • One account in the name of two or more people.
  • A handy way to share outgoings and see them on one monthly statement.
  • Each person gets a Visa debit card and chequebook (if the current account comes with a cheque book).
  • Choice to add someone to your existing account or open an extra joint account.
  • Easy to move money between your different accounts.

Overview

A joint account is an account in the name of two or more people. It’s a convenient way to share outgoings like shopping, household bills and mortgage or rent payments. You could also budget for holidays or large purchases with a joint savings account.

If you also have your own current account with Lloyds TSB it’s easy to transfer money between the two.

If you have an account already:

  • To turn an existing account into a joint account, both people need to go into a branch and provide identification in person.

Find your nearest branch
What identification to bring

If you don’t have an account yet:

You can either:

  • Open a joint account straight away in a branch.

Find your nearest branch
What identification to bring

  • Apply for your new account online – you can convert it to a joint account in a branch later. 

See all current accounts

  • Each person can make withdrawals, write cheques, apply for an overdraft or use cash machines without needing the approval of the other.
  • Both of you are responsible for any debts on the joint account, such as an overdraft – even if only one of you withdrew the money from the joint account.
  • The other person’s finances may affect your credit rating. Credit reference agencies often create a financial link or 'association' between two people who have a joint account that lets them borrow money.
  • Add a cardholder to your credit card. This gives another person a card for your credit account. The extra card is free, with no monthly fees. It’s different from a joint account – for example, you’re responsible for any transactions the cardholder makes.
  • Under 19, Student and Graduate accounts cannot be held in joint accounts.

If you’d like to close your joint account or remove someone from it, let us know:

  • via Phonebank®: 0845 3 000 000
  • In Branch. Find your nearest branch
  • in writing

Important legal information

Lloyds TSB Bank plc and Lloyds TSB Scotland plc are authorised and regulated by the Financial Services Authority except for lending where we are licensed by The Office of Fair Trading. FSA authorisation can be checked on the FSA’s Register at: www.fsa.gov.uk/register. Lloyds TSB Bank plc and Lloyds TSB Scotland plc are members of the Financial Services Compensation Scheme and the Financial Ombudsman Service. We subscribe to the Lending Code; copies of the Code can be obtained from www.lendingstandardsboard.org.uk.

If your non savings income is less than your personal allowance you may qualify for the 10% savings tax rate, we will still pay your interest net of tax (with income tax taken off - currently 20%). If you think that this may apply to you, you should complete HMRC form R40, available on HMRC website or your tax office.

Lloyds TSB Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds TSB Scotland plc. Registered office: Henry Duncan House, 120 George Street, Edinburgh EH2 4LH. Registered in Scotland No. SC 95237.

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