When to switch to joint checking? - The PASH Wedding Forums and Message Boards

BJC777SRL · #1 01-31-2007, 06:42 PM

FH and I have already made the decision that we will have a joint account, since I do both our checkbook balancing and bill paying anyhow, it'll be a ton easier for me.

Now, the question is, when should we do it? Right now? Sometime closer to the wedding? After we're married?

I really have no clue!

Heather · #2 01-31-2007, 06:46 PM

There's no need to close your individual accounts if you don't want to. You can just start a joint account together for your shared bills, etc. and then have money from your paychecks automatically deposited into the shared account to cover bills. You'll both need to go to the bank to sign the papers, etc. It's always a good time to open a new account and start funneling $$ into it.

Kim&Bob2004 · #3 01-31-2007, 06:50 PM

Personally I would wait until you are married if you plan on changing your name. for us to get one together in my new last name, we had to show a marriage license..... Like DH would just pick some woman off the street and put her on his account........

BJC777SRL · #4 01-31-2007, 06:52 PM

Quote:

Originally Posted by Kim&Bob2004

Like DH would just pick some woman off the street and put her on his account........

That's funny!

If we open a joint account now, will we have to close it and re-open a new one when I change my name?

justnmary · #5 01-31-2007, 06:54 PM

I would like Kim said, wait until after you're married, but also like Heather said, start saving now.

SerendipityCrafts · #6 01-31-2007, 06:55 PM

Quote:

Originally Posted by Heather

There's no need to close your individual accounts if you don't want to.

Always a good idea to keep an individual account anyway - for individual credit ratings & also for buying him gifts (when you don't want him to know how much you spent).

If you are both using the same bank, you may also be able to transfer funds to the joint account online.

Kim&Bob2004 · #7 01-31-2007, 06:57 PM

Quote:

Originally Posted by BJC777SRL

That's funny!

If we open a joint account now, will we have to close it and re-open a new one when I change my name?

I don't think so, but holy cow think of all the paper work, buying new checks ect......

Not something I would want to take the time no money for.

AshyBekka · #8 01-31-2007, 07:09 PM

That's exactly what I was thinking Kim! If you change it over now, you'll have to buy all new checks and fill out new paperwork after you get married if you're planning on changing your name. Your drivers license and checks/cards won't match up anymore, and doing all that again just a few months after opening it in the first place may be more of a headache than you need. I would wait.

feb-bride · #9 01-31-2007, 07:13 PM

Quote:

Originally Posted by SerendipityCrafts

Always a good idea to keep an individual account anyway - for individual credit ratings & also for buying him gifts (when you don't want him to know how much you spent).

I wholeheartedly agree with this.

Quote:

Originally Posted by SerendipityCrafts

If you are both using the same bank, you may also be able to transfer funds to the joint account online.

My husband and I do something similar. We don't have joint checking, but we do use the same credit union. Each time we get paid, I transfer money from his account to mine because I pay all of the joint bills out of my checking account. I have his account # and access code, and he has my account # and access code.

tnbride · #10 01-31-2007, 07:24 PM

Quote:

Originally Posted by Heather

There's no need to close your individual accounts if you don't want to. You can just start a joint account together for your shared bills, etc. and then have money from your paychecks automatically deposited into the shared account to cover bills. You'll both need to go to the bank to sign the papers, etc. It's always a good time to open a new account and start funneling $$ into it.

this is what we are doing

LadyFaile · #11 01-31-2007, 08:10 PM

my fh and i have been joint for a few years, but what we did was keep our individual accounts and add each other, so we each have our own account but we both have access to both. so for online banking we can move funds from one to the other, pay bills out of both etc but we still have our own spending money and privacy at christmas

555Ann555 · #12 01-31-2007, 08:21 PM

Sorry, stupid UK question but I have to ask... You have to buy your own checks??? The bank doesn't just send you a cheque book?

BJC777SRL · #13 01-31-2007, 08:24 PM

Yeah we have to buy our own. You can buy them from the bank, or from an outside seller...

Anyhow, Thanks for all the advice girls!
Going to discuss this further with FH later tonight

feb-bride · #14 01-31-2007, 08:25 PM

Quote:

Originally Posted by 555Ann555

Sorry, stupid UK question but I have to ask... You have to buy your own checks??? The bank doesn't just send you a cheque book?

Nope! We have to pay for our checks. They provide a check REGISTER for you to keep track of your deposits and expenditures, but if you want to write checks to pay for things (as opposed to paying with cash or credit card), you have to pay for them.

555Ann555 · #15 01-31-2007, 08:36 PM

No one here would stand for that! I'm not going to pay the bank so that I'm able to spend my own money.

I'm appalled by the very idea!

Is it true that they can jail you over there if your checks bounce? (like you've not got enough money in your account)? How big does the check have to have been before they can do that?!

(Bree, sorry, my astonishment has hijacked your thread!

)

BJC777SRL · #16 01-31-2007, 08:39 PM

Quote:

Originally Posted by 555Ann555

Is it true that they can jail you over there if your checks bounce? (like you've not got enough money in your account)? How big does the check have to have been before they can do that?!

(Bree, sorry, my astonishment has hijacked your thread!

)

That's fine, it's actually very entertaining! (Your astonishment that is)

I've never heard of people being thrown in Jail for bouncing checks...we do get fined for it...

But I suppose if it was a big check maybe you could get put in jail...depending on what the check was for? Hmm...

feb-bride · #17 01-31-2007, 08:42 PM

Quote:

Originally Posted by 555Ann555

Is it true that they can jail you over there if your checks bounce? (like you've not got enough money in your account)? How big does the check have to have been before they can do that?!

This CAN happen, but it's not typically going to happen if you mess up on your addition/subtraction and unintentionally write a bad check. People who go to jail for this are usually committing check fraud - where they know that there's no money, but they keep on writing bad checks anyway.

They're not going to send you to jail over one bad check. If that was the case, I'd be typing this from prison!

SerendipityCrafts · #18 01-31-2007, 08:48 PM

Quote:

Originally Posted by 555Ann555

No one here would stand for that! I'm not going to pay the bank so that I'm able to spend my own money.

I'm appalled by the very idea!

I am with you hun. I hate paying bank fees - especially when I do all of my banking myself online. I haven't been inside a bank in over a year. What the heck am I paying for?!!!

I pay $12.95 per month / service plan so I won't be charged $.50 - $1 to pay bills, make transfers, withdraw & email money. It drives me nuts!

whiddle · #19 01-31-2007, 09:37 PM

Quote:

Originally Posted by 555Ann555

Sorry, stupid UK question but I have to ask... You have to buy your own checks??? The bank doesn't just send you a cheque book?

My bank provides checks for free. It's awesome. I always hated buying checks.

Yes, you can go to jail for bouncing checks but it takes a while. Usually, if you bounce a check the retailer will send you a certified letter and give you a timeframe to pay the check (usually 6 weeks) and a fee (usually 25-35 dollars). If you do not pay the check, they turn it over the the prosecutor's office. They will file formal charges and then issue you a court date. If you show up, the court normally sentences you to pay the check and some additional fees, maybe some community service. If you do not show up, a warrant is issued for your arrest. MOST people will pay as soon as they find out that their check bounced. Usually, the ones who don't are people who have gone all over town writing worthless checks.

FYI, I worked at the courthouse and part of my job was handling worthless checks. I do not have any experience writing my own worthless checks!

justnmary · #20 01-31-2007, 09:42 PM

Quote:

Originally Posted by whiddle

My bank provides checks for free. It's awesome. I always hated buying checks.

Yes, you can go to jail for bouncing checks but it takes a while. Usually, if you bounce a check the retailer will send you a certified letter and give you a timeframe to pay the check (usually 6 weeks) and a fee (usually 25-35 dollars). If you do not pay the check, they turn it over the the prosecutor's office. They will file formal charges and then issue you a court date. If you show up, the court normally sentences you to pay the check and some additional fees, maybe some community service. If you do not show up, a warrant is issued for your arrest. MOST people will pay as soon as they find out that their check bounced. Usually, the ones who don't are people who have gone all over town writing worthless checks.

FYI, I worked at the courthouse and part of my job was handling worthless checks. I do not have any experience writing my own worthless checks!

I was wondering how you were so knowledgeable on the subject!

sparklesweetie · #21 01-31-2007, 10:34 PM

I'm not much help on this, as we still haven't gotten a joint account (and it's been...7 months?). Sorry H.

It's been in the works though...it's just finding a time that we can both get to the bank at the same time to do the paperwork.

I also agree on keeping your own account...but that could be because of that nice little independent streak I have, lol.

Oh, and my bank also provides my checks for free, although I can still buy the decorative ones if I'd like. But the free ones work just fine for me, lol.

AshNJam07 · #22 02-01-2007, 12:47 AM

FH and I already have a joint, so I'd say now if you'd like.

AshNJam07 · #23 02-01-2007, 12:50 AM

Quote:

Originally Posted by Kim&Bob2004

I don't think so, but holy cow think of all the paper work, buying new checks ect......

Not something I would want to take the time no money for.

Actually I work at a bank, and changing names isnt that much work. At least not for you. It takes about 1/4 to 1/2 the time it takes them to open the first account. And yes you can reorder checks, but you don't have to. You could use the ones with your maiden name on them until you need new ones.

Kim&Bob2004 · #24 02-01-2007, 01:29 AM

Quote:

Originally Posted by AshNJam08

Actually I work at a bank, and changing names isnt that much work. At least not for you. It takes about 1/4 to 1/2 the time it takes them to open the first account. And yes you can reorder checks, but you don't have to. You could use the ones with your maiden name on them until you need new ones.

But what about when id's don't match the name on the checks? trust me I tried using a check from my old checking account and I wasn't able to use it because my name didn't match.....

Heather · #25 02-01-2007, 01:37 AM

That's interesting Kim. Maybe it depends on the bank.

I had my name changed on my account and new checks ordered in less than a half hour. The biggest pain in the arse for me was changing my address with the bank when we bought our house.

I also have a couple check books left over with my maiden name on them, and I use one every now and then if I can't find the checkbook with my new name on it. Never had a problem and it's been almost 3 years. I do have a credit union that I've been with for over 10 years now, maybe that makes a difference...

ETA: Sparkle, don't make me come find you.