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  • Money management with your partner with joint accounts.

Hi Bunqers,

I have convinced my girlfriend (soon to be wife) to switch to bunq šŸŽ‰.
Now, we trust each other completely and want to manage our money together and open multiple joint accounts for savings/groceries/ etc. etc.

My question is, as we will have multiple joint accounts, and use those accounts for basically everything, it's kind of hard to keep an overview of all the in- and outcoming money regarding bills. I will have to pay some bills (health insurance, phone, etc.), and she as well.

In my ideal situation we have 1 'main' joint account where, as soon as we receive our salary, the money will go into. Then from there we can put X amount of money in a 'vacation' savings account, the Y amount in some other savings account, and keep the rest of the money into the main account for bills and other stuff.

But because (as far as I know??) It's not possible to have all bills registered onto one account, we will still have to pay bill from our own account. In my opinion it's kind of hard to devide the money that way, because you'll always need to leave some money on your own account because you have to take into account that you'll have to pay some bills that might be soon.

Does anyone have any tips or trick regarding money management with your partner to streamline this in the best possible way?

    Hi @Amar-Golden-Tesla#35960 šŸ‘‹
    This sounds like a nice idea and a great use for all the bank accounts that you get at bunq! šŸ’”

    As every bank account you create gets its own IBAN, you can of course decide for each bill individually from which account you want to pay. You can additionally change this afterwards by editing the "recurring payments" entry of the merchant. I personally also use this feature to divide my insurance payments from the other stuff. šŸ˜Š

      Hi @Amar-Golden-Tesla#35960 šŸ‘‹

      If you have a joint account it will recognize both of the accountholders to be owner of the account and will suffice for Direct Debits addressed to any of the two. So no problem there.

      When Person A makes a payment to a non-bunq account it will appear as Person A CJ (CJ means Compte Joint or Joint Account). And when Person B makes a transfer it will appear as Person B CJ. It has always worked great for me and my gf. The only thing I read is that the Tax office can't always recognize the account automatically and may need to be approved manually. It should work automatically if you just give up beneficiary + CJ, at least it did for us.

      We have our money deposited on a specific 'Income' account and then automatically transfer money every month to accounts like, groceries, holiday, car, billing account etc. This way budgeting is really easy for us. Thats just a way of preference though. Keep in mind you have to create a joint-account from the beginning aka group-account. šŸ™‚

        You're saying " But because (as far as I know??) It's not possible to have all bills registered onto one account, (..) ā€œ, but this is possible right? You can just give this IBAN of your joint account to all companies? Oh and what Jan Brodda says is true. If a company makes a recurring payment from your personal account, you can change it after the first payment to your joint account.

          @Amar-Golden-Tesla#35960 Iā€™m also somewhat confused. You can just give the Iban of your shared account to whomever sends you a direct debit (automatische incasso)?

            Hey guys, thanks for your responses!

            I didn't know I could put all bills on my account, nor that I could easily change the recurring payments to one of my joint accounts! So convenient :) Awesome. I will look into that! :D

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