Couples who would want to take their relationship a step further and begin with sharing their finances can now be able to open a joint account in just a couple of minutes without the need of getting up from the couch and leaving their homes to go to a bank.
The customers who already have a current account with Starling Bank will now be allowed to open a joint account by matching their mobile phones with the use of the Nearby technology of Google.
The chief executive of the digital bank, Anne Boden, said that this should “remove the pain” of joint accounts. She said that the said accounts are “notoriously difficult to set up and cancel.”
Usually, opening a joint account will require both parties to go to a branch of the bank at the same time with some proof of their identities.
The application will show which person has made a particular transaction using the joint account. The account can be frozen immediately if ever the couple goes their separate ways.
The new account option that is offered by the bank is likely to inspire more people to open an account with the bank, as both parties are required to have a personal account in order to open a joint account with their partner.
The joint account is anticipated to be made available starting tomorrow, the 25th of June 2018.
The lead engineer at Starling, Sam Everington, stated: “We say it takes five minutes to set up – but four of those minutes are reading the terms and conditions.”