BF and I have a savings account right now at the bank his mother works at. He borrowed some money from her to get his car fixed, and after only a few days gone by, she took it out of his savings. She's a really sweet woman, and I love her to death, but it really really bugged him that she did that. The agreement was that he would pay her back when he got paid again, but she didn't wait for that. I know she does have a right to it, since he had the money and had borrowed some from her, but the problem was that she didn't even ask him before she did it. This is why I hate borrowing money.
So we've talked about opening one with my bank.
Here's the deal. Yes, we have had that savings before, but my name wasn't technically on it. I would just come by sometimes and put some money into it when I had some extra. But if we opened one with my bank, we would want both our names on it. I don't have a problem with doing it, but it's a big step and it makes me a little nervous.
Pros and Cons?