Opening second Current Account - best to go for?

suffolkboy_

I'm now purchasing a house, and I'm looking to open a second current account. My plan is to use this second account for all of my mortgage payments and bills. I'll transfer a set amount across from my HSBC current account to the new account to help with budgeting.

What account am I best to go for? There are lots of banks offering bonuses is you switch, but i'm not looking to switch, i'm looking to open a second account. Do any pay a bonus for opening an account?

Thanks,

eskbanker

To the best of my knowledge there aren't any paying opening bonuses, but you could set up a sacrificial donor account and switch that if you wish to take advantage of a switching incentive.

Alternatively, consider a Santander 123 Lite, which offers 1-3% cashback on bills.

blue.peter

You're doing pretty much exactly what I did in the mid-1980s.

When I did it, someone suggested a "revolving credit" account as a means of giving a bit of flexibility to overdraw if I found that I hadn't quite funded it sufficiently at any time. In the event, I never needed that flexibility, but it was nice to know that it was there.

Are these accounts still available? If so, might one of them be helpful?

(Eventually, I switched banks, and replaced the revolving credit account with a second conventional current account.)

born_again

Via Quidco

Open a TSB Classic Plus account and earn a great rate on balances up to £1500. T&Cs apply
+ £50 cashback