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bank accounts that let you do an initial deposit with a cc

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In the US there are a lot of banks that will let you do this when you open a current account . are there any in the UK?

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  • veryintrigued
    veryintrigued Posts: 3,843 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 4 December 2016 at 10:17PM
    Even if there are I'd be very careful you don't get hit with charges from the cc provider.
  • The only account I can remember allowing deposits by card was one with Yorkshire BS, but that was restricted to debit cards.
  • Nothing stopping you going to an ATM with say a Clarity card withdrawing some cash and paying it in.
    If you want to do this online direct it won't work.
  • colsten
    colsten Posts: 17,597 Forumite
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    I know of no UK current account that requires an initial deposit.
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
    1,000 Posts Combo Breaker Newshound!
    Apart from opening the account in branch then taking a cash advance from a credit card in the branch or from an ATM and paying it into the account, then no it is not possible.
    You could always do a money transfer into the account once you have opened it if you hold a UK issued credit card which offers that facility.
  • Zanderman
    Zanderman Posts: 4,864 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    joujou wrote: »
    bank accounts that let you do an initial deposit with a cc
    In the US there are a lot of banks that will let you do this when you open a current account . are there any in the UK?

    Do you mean by cc (credit card) or any card (debit cards too?). A credit card payment would mean drawing cash on the credit card, which would immediately mean you're paying interest on it.

    If you're asking can you pay-in to a current account by card generally, I'm not aware of any easy process to do this online, though you may be able to do so at a branch.

    And why initial deposit? New current accounts can be left empty for some time after opening, so there's no need to hurry. And as there's no need to hurry you can surely pay-in by any means, including, if you can't pay-in by card, by cash withdrawn by machine using the card.
  • Anthorn
    Anthorn Posts: 4,362 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    colsten wrote: »
    I know of no UK current account that requires an initial deposit.

    Agree.

    I've opened several bank accounts and none of them have required an initial deposit in the sense that it's required before the account can be opened. Not even building society savings accounts.
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