Running out of options for donor/throw away accounts? Suggestions?

colsten

latinaid wrote: »

As a matter of interest, how quickly would a new account be opened with a bank you already have an account with?

It totally depends. Some banks are fast, others are not so fast. It also depends what you term "open" - getting a new account showing in your existing online banking is generally quite quick but receiving the debit card and PIN can take some time. Whilst it is possible to switch even if you don't have a debit card, it's much easier to do if you have one.

kazwookie wrote: »

Just out of interest

Why do you need more donor / throw away accounts?

I'll hazard a wild guess here, and I could be wrong (:D): could it possibly be to get the switch offer money?

Branagorn

colsten wrote: »

Whilst it is possible to switch even if you don't have a debit card, it's much easier to do if you have one.

By this, do you mean it is dependent on which Bank? I opened a account with Starling yesterday with the intention of switching it.


I ordered the card and the account became 'active' today. I've managed to pay into it, pay out of it, set up some standing orders and bought my lunch with contactless via Applepay.


My planned switch is to HSBC, so I'm just wondering if I could start that this evening, or if I should just try being a little patient.

colsten

Branagorn wrote: »

By this, do you mean it is dependent on which Bank?

No, it applies to all banks. The debit card is used as an extra security that you are actually the account holder of the account to be switched. I believe it is possible to switch without having a debit card but you would have to jump through some other hoops.

Out of interest, how have you used ApplePay against your Starling account if you don't have your debit card yet? Is there some Starling magic that allows that? (I can't have a Starling account as I hold a Raisin account, and Starling are incapable of offering a current account to Raisin customers).

Branagorn

Yeah it’s a Starling thing. They mention it on their website.

As you may know you can’t manually add the card in the iPhone settings, as you wouldn’t know the details.

But within the App, it offers you the option to add it there, and away you go.

supermonkey

colsten wrote: »

I'll hazard a wild guess here, and I could be wrong (:D): could it possibly be to get the switch offer money?

But you can only do it once per bank with a set period of time. So surely only 1 doner account is needed per person?!

colsten

supermonkey wrote: »

But you can only do it once per bank with a set period of time. So surely only 1 doner account is needed per person?!

I am quite certain you wouldn't need any kebabs at all. A number of bank accounts is very useful to have, however, if you want to fully exploit all offers. That holds regardless of whether it's actually true (which it isn't) that you can only do it once per bank with a set period of time.

supermonkey

I do like a doner though....


Most of the incentives are only offered if you've not had an account with the bank since a certain date, or not had an incentive since a certain date.



As an example with HSBC "Who's eligible for offer: Anyone who's not had an HSBC current account since 1 January 2016 and meets switching criteria"

colsten

supermonkey wrote: »

As an example with HSBC "Who's eligible for offer: Anyone who's not had an HSBC current account since 1 January 2016 and meets switching criteria"

Thanks, I've read all the switch offer T&Cs, as I have made a few thousand from them over the years. I am even still doing some as we speak, all in parallel - which is only possible because I have multiple donor accounts. But hey, what do I know.

supermonkey

So you have multiple donor accounts & have successfully got the bonus from the same bank more than once?



If so, that is interesting.... I didn't realise you could do this.


Not sure i'd try it though as the chance of getting no incentive puts me off.