If you’ve had bad credit in the past, you might find it hard to get a traditional bank account. And if this is the case and you’re starting a new job, you might want your employer to pay your wages into your partner’s account.
You can do this if you want – your employer can pay your wages into any account you want. But is it the best way to get your wages or can you get your own account? Let’s take a look at your options.
You can do this
As we explained, it is possible to get your wages in your partner’s account. You don’t need to worry that this is fraud or against any rules – your employer will just ask which account you want your wages to go into.
You might decide to do this if you can’t get your own bank account for any reason. This usually happens if you’ve had problems with credit in the past, like a lot of late or missed payments. When you apply for a bank account, the bank or building society will usually credit check you. If you’ve had bad credit, they might reject you for this.
Another reason why you might want your employer to pay your wages into your partner’s account is if you pay your joint household bills out of this. Having your wages go directly into their account so they can pay your rent or mortgage makes things easier as you don’t have to worry about transferring enough money to them to cover the bills.
But doing this can raise another problem – whether your partner will have to give you ‘spends’ from your wages. You might be happy with this if they’re more financially savvy than you but it can make things tricky if you want to spend more during one month, for example.
Getting a joint account
A joint account could be one way you and your partner could manage your finances together. It means you can have your wages paid into the same account and pay all of your joint bills out of it.
And if you’re worried you won’t be able to get a joint bank account, the thinkmoney joint Personal Account is one alternative. We don’t credit check you when you apply for the account so your credit history won’t affect whether you can get it.
With the thinkmoney joint Personal Account, you and your partner can get your wages paid into the account. You just need to tell us about all of the different bills you have going out and we’ll hold enough money for these. That means you’ll never accidentally spend money you need for something important. And what’s more, you’ll never go over budget so there won’t be any unexpected charges.
You’ll also get budgeting help from our trained Money Managers. And if you’ve got any questions about your money or you have an unexpected bill one month, you can give them a call. They’ll take a look at your upcoming budget with you and help you see where you can free up money to cover it.
The thinkmoney joint Personal Account comes with a monthly management fee of £24.50 – find out more about how it works and how a joint account could help you.