Need a second current account, not switching. Any incentives?

an9i77

I need to get a second current account as I incur a lot of expenses for work (roughly £500/week) which currently I put on a personal credit card, work pay into my current account and I then pay off the card.. .this means I have a lot of money that isn't 'mine' going through my current account and messing up my personal finances.

I've asked work if they can pay direct to a credit card, they've said no . Only the CEO has a company credit card, they don't give those out to minions like me. They've said they can only pay expenses into a current account so i am thinking of setting up a second one purely for this purpose. The money will be paid in and pay the credit card straight away, I don't want to use it for anything else.

All the current account incentives seem to be for switching, which I don't want to do. Does anyone know of any current accounts for new users with incentives which don't require a full switch?

colsten

Answer to your Q, in a word is: no.

There is, however, nothing that stops you from opening a donor account and then switching that donor account for a bonus.

PRAISETHESUN

Depending on the nature of the expenses, it might be worth seeing if you could arrange for work to pay them directly? (ie. request an invoice from your supplier(s) and then get the CEO or whoever to pay for it with the company card?) Otherwise, as above there aren't any incentives available for just opening an account, only for switching. Your easiest option would be to open a second account with your primary account, since they won't need to ID you. You could always then switch this to another bank to take advantage of an incentive if you so wish.

Also make sure you are using a reward credit card (either cashback or points) - it's basically free rewards for the spending since you don't actually have to foot the bill!

18cc

I agree with colsten - open an account with bank a and then switch it to bank b to get in a switching incentive. Then use bank b as your second account

... or you could even them switch bank b to bank c and then use bank c as your second account

Don80

I agree with the open an account you don't want, then switch to the one you want for incentives.

£500 a week and you're a "minion"? If you are incurring £500 a week in expenses, you should be insisting on a company credit card. If you're doing a job that requires that level of expense that's not unreasonable (you would after all have to submit all your receipts for approval). The alternative is to insist that they pre-pay and book anything (such as flights, hotels etc).

I wouldn't trust a company to pay your bill in time (I have seen people do that, then their credit files show late payments regularly). Remember as well, YOU are responsible for paying the card. If your employer decided not to pay for something, you're liable for it.

an9i77

So tell me again how to insist that my boss does something?

I don't mind too much paying in advance as the upshot is I get a free starbucks breakfast most days and dinner out twice a week or so at their expense. They do pay regularly so getting the money back is not an issue. And I usually put it all on a John Lewis card which gives £5 vouchers per £1000 spent.

Will check out getting a second current account with my bank for now.

keef-WhatStandards

Some accounts give money for opening an account. As an example TSB pay £75 to person opening and person recommending I think. Or was that not what you were asking?

YorkshireBoy

keef-WhatStandards wrote: »

Some accounts give money for opening an account. As an example TSB pay £75 to person opening and person recommending I think.

No they don't.

keef-WhatStandards

They do, but it's for switching :-

https://www.tsb.co.uk/recommend-friend/

YorkshireBoy

keef-WhatStandards wrote: »

They do, but it's for switching :-

https://www.tsb.co.uk/recommend-friend/

Never in doubt. Just irrelevant, as the OP does not want to switch.

You clearly stated (and quoted above) you could get the incentive for "opening an account", and went on to give an example of TSB, again using the term "opening". Both are incorrect statements.

colsten

Actually, there might be one. I have lost track whether the Fineco offer is still open. Awful application process though, and the account is essentially useless, apart from the bonus which was awesome.

EDIT: It isn't. Expired Sept 19 2019.