New current account (not switch) - any bonuses?

matt_outandabout

All the offers listed on the homepage are for switching accounts.

I need to open a second current account, but not switch. This is purely for me to separate my small landlord income and expenses out into, to make my end of year accounting easier!

Do any offer an incentive or bonus, just for opening?

ColdIron

How about 5% interest with an associated 5% regular saver?

https://www.nationwide.co.uk/products/current-accounts/flexdirect/features-and-benefits
https://www.nationwide.co.uk/products/savings/flex-regular-online-saver/features-and-benefits

NoMore

Most people on here just open a second account and then switch that to get any bonus.

PRAISETHESUN

I'm not aware of any accounts that pay you an incentive without requiring a switch. As suggested by NoMore, I'd try opening a second account with your current bank and then switch this new account to somewhere else to take advantage of any incentives, if that takes your fancy.

agrinnall

In theory you should be using a business account for your LL income, but I suspect many people don't and the vast majority of them will get away with it.

18cc

TSB offer an incentive to open an account with them i.e. 5% interest on the 1st £1500 which isn't bad for doing nothing

matt_outandabout

Thank you all.
I think it was a 'nice thought' to get some 'free' money similar to switching main account for the household.
My income from BTL is so small (one flat in Highlands) it is not worth the cost of a business bank account, and the bank was not interested in me opening one.

hgt

Halifax (Reward current account), Co-op Bank (Everyday extras), Danske Bank (Cash reward account) and Barclays (Barclays Blue Rewards) will all give you a small amount of free cash per month if you meet their terms and conditions. Danske is £5 for examplle (after factoring in their £2 fee), though they only have branches in Northern island. Co-op pays £4/month.

System

hgt wrote: »

Co-op pays £4/month.

If you actually use the account for day to day spending you'll easily manage £5.50 a month from the co-operative bank. Any spare cash can be earning money elsewhere as it's a straight reward rather than interest.

hgt

scgf wrote: »

If you actually use the account for day to day spending you'll easily manage £5.50 a month from the co-operative bank. Any spare cash can be earning money elsewhere as it's a straight reward rather than interest.

Yes indeed, the Co-op account is very underrated in my opinion. It doesn't seem to get much media attention, but is easy money! I use it for my main current account and am very happy with Co-op.

System

hgt wrote: »

Yes indeed, the Co-op account is very underrated in my opinion. It doesn't seem to get much media attention, but is easy money! I use it for my main current account and am very happy with Co-op.

Me too. I have no issues at all. I switched after I read about the work they do for all sorts of good causes like the homeless, LGBT groups, Centrepoint and so on. They have maintained their ethical policy which is important to me despite the hedge-fund takeover. Ethical Consumer rates them highly so I'm happy.