Burner account

Tynan84

I wanted to switch bank accounts for the insensitive and read about a ‘burner’ account. But what is the best account to open to be able to start switching. TIA 

RacingDriver

It is usually easiest to open an additional standard current account with a bank that you already use - otherwise pick a bank that does not usually offer switching incentives

PRAISETHESUN

+1 for opening a second current account with a bank you already use.

In case it helps, Lloyds banking group doesn't seem to do a hard credit search for opening new accounts for existing customers, so they are my usual go to when I need a donor account for switching.

[Deleted User]

Starling or Monzo are useful as they are opened fast plus don't request an overdraft & no hard credit check.

[Deleted User]

I setup Starling AND Monzo precisely for this, both were done in 24 hours (after the ID/video check thing). The pain is more the time it takes for things like DD to switch over or be setup (looking at you Ecology!).

I had my Monzo one up and running, stuck £100 in, moved mobile phone bill and setup a plum account and had the switch initiated all inside a week. Just waiting for the Ecology saver DD to be setup so I can do the Starling one

Zaul22

Metro and Co-Op are good dummy accounts as they are both crap. Metro you can open instantly then go to a branch to get the card printed out (even on Sunday) and Switch out the same day. 

Rob5342

Deleted_User said:

Starling or Monzo are useful as they are opened fast plus don't request an overdraft & no hard credit check.

Personally I'd advise against using Starling or Monzo as donor accounts. They are the two best banks around in my opinion with their buugeting tools, and I'd want to keep the option of using them as my main account, using them as donor accounts might stop them giving me an account when I needed it.

Daliah

Rob5342 said:

Deleted_User said:

Starling or Monzo are useful as they are opened fast plus don't request an overdraft & no hard credit check.

Personally I'd advise against using Starling or Monzo as donor accounts. They are the two best banks around in my opinion with their buugeting tools, and I'd want to keep the option of using them as my main account, using them as donor accounts might stop them giving me an account when I needed it.

There are plenty of independent personal finance tools which are perfect for budgeting and don‘t tie you to a particular bank. It‘s worth noting though that they may prevent you from re-applying for the next 6 - 12 months.

eskbanker

Tynan84 said:

I wanted to switch bank accounts for the insensitive

HSBC and NatWest seem to have a reputation on here for being insensitive, have you tried them?

Zaul22

As Rob said. You only get 1 Monzo/Starling account and then you are banned from making a new one*, so don't waste a good bank on a burner account. If you are going to use Starling as a burner, open one then pay £2 to open another one and switch that. 

(*the ToS say only for 30 days but the forums are full of people saying it was very difficult to re-open)

ircE

Another option is opening a TSB Spend & Save via a cashback site. TopCashback are offering £20 and Quidco £30 for opening an account, jumping through a few months, and waiting up to 8 months to receive your reward.