Lifering

Joint Accounts – Everything you need to know

If you are interested in applying for, or you already hold, a joint account this section will provide useful joint account related information.

Opening a joint account online

As part of the account opening process, you will initially be asked if you’d like to open an account singly or in joint names.

If you choose to open a joint account online, both parties will be required to provide their respective personal information and will be subject to identity and residency checks. If one applicant passes and the other should fail, we will be unable to authorise the opening of the account until we have verified the identify and/or residency of the unsuccessful applicant. We will keep both parties informed if these additional checks become necessary.

Adding or removing a joint account holder on an existing account
 

Adding a joint holder to your sole account
 

If you’d like to add an account holder to your existing Ford Money sole account, both you and the proposed joint holder will need to sign and return written instructions to us.

These can be found by:

  • Logging into your account and selecting Change Details from the main menu.
  • You should then select Add Account Holder
  • Download, complete and print the form
  • Send it to us using the following Freepost address:


RTUB-AAXH-UHKE
Ford Money
PO Box 871
Wallsend
NE28 5BT

Once the proposed joint holder has been successfully verified, we’ll send you written confirmation and they will in turn receive details of how to set up their own online access.

If we need more information to verify the proposed joint holder’s ID or address, we’ll contact them directly. 

Removing an account holder from a joint account
 

We need both account holders to send us either a Secure Message or written instructions highlighting your request to remove the joint holder. Once we receive these, we’ll remove the relevant holder.

We’ll then send confirmation via Secure Message to the remaining account holder and written confirmation to the removed holder.

Should a joint account holder pass away, you’ll need to notify us in writing and include a copy of the Death Certificate. We’ll then remove them from the account.

Please send your documentation to our Freepost address:

RTUB-AAXH-UHKE
Ford Money
PO Box 871
Wallsend
NE28 5BT

Interest on the account funds will be paid until Ford Money receive instructions to close the account or transfer funds to another account (subject to the product’s terms and conditions).

Find out more information on what to do in the event an account holder passes away.

Disputes between joint account holders
 

In the event of a dispute arising between joint holders, please contact us by Secure Message or phone. We’ll then take the precautionary measure of placing temporary restrictions on account access for both named holders, so no withdrawals can be made until the dispute is settled.

Once you’ve settled your dispute and are both ready to remove these restrictions, we’ll need each of you to send us a signed and dated letter stating that you would like these restrictions lifted.

Send your letters to our Freepost address:

RTUB-AAXH-UHKE
Ford Money
PO Box 871
Wallsend
NE28 5BT

Nominated Account requirements for joint accounts
 

You can only have one Nominated Account to cover all the single and joint accounts you hold with us.

When opening a Ford Money account, you and any other account holders with whom you share a joint account, can only have one Nominated Account between you.

This means that you and any other account holders with whom you share a joint account must use the same Nominated Account for all joint accounts you hold with them. This same Nominated Account must also be used for any additional sole accounts either of you hold.

Find more information on Nominated Accounts.

Joint accounts with differing rate taxpayers

If you have a joint account and one of you pays a higher rate of tax, the interest earned is assumed to be split equally between you. For instance, if one of you is a basic rate taxpayer and the other a higher rate taxpayer, then your joint Personal Savings Allowance would be £1,500.

Find more information on tax-free saving.

Help Articles

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Applying for a Product

Find out everything you need to know about how to make an online application for one of our products.

 

Application process

Verifying your identity and Residency

Proof of Identity

Proof of Residency

Your temporary application reference number

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Managing Your Account

Here you can find the answers to questions regarding how to manage your account online.

 

Accessing your online account

Moving Money

Interest Options

Account personalisation

Applying for additional products

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Saving With Ford Money

Have other questions about Ford Money, our service and our offerings? You’ll find more information here.

 

How we operate

How we communicate with you

How you can contact us

What rates have Ford Money previously offered?

Your privacy rights

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