Switching accounts with a burner: which bank doesn't do offers

WillPS

flaneurs_lobster said:

WillPS said:

Metro did one in 2020.
Barclays have one on right now (Premier eligibility only tho), last did a mass market one in 2019.
Co-op Bank have a £125 referral based offer now.

Don't think Barclay's are bribing at the moment, do you mean Lloyd's premium accounts?

Sorry, I was stupidly going off what that Andy Webb character has on his current switch list. Lesson learned!

It finished in November. Still, point stands they are very much involved in the CASS bonus scene.

PRAISETHESUN said:

As far as I'm aware, HSBC/FD are the only banks who restrict your ability to take advantage of switch offers if you already hold an account with them. Most other banks have offers which are available to existing customers, as long as you haven't taken advantage of a previous incentive within a given timeframe.

I personally like Lloyds/Halifax/BoS as they don't do hard credit checks for opening additional accounts as an existing customer. Monzo/Starling are another good choice if you need an account in a hurry.

Co-op excludes current customers (on the CASS side at least).

TSB possibly exclude customers but their terms are so poorly written it's hard to be sure.

Barclays most recent offers excluded current customers.

Virgin Money have always excluded existing customers since rebranding AFAIK.

sgebbie said:

thanks all

i'll get the wife an extra natwest & then we've both got NW to start from. It didn't even register with me to start where we already have accounts

I think that's a solid choice. Only downside is Natwest Group do a hard check each time - but this is not a huge problem as the longest time they'll have an impact for is a year. If you get to Lloyds or Halifax it's worth maintaining an account longer term with at least one (Halifax will pay you £5/month with a little legwork for the privilege, Lloyds will give you a freebie for a bit less) as they don't seem to run a hard check for existing customer applications.

Beddie

I had a First Direct (joint) account that was closed over 20 years ago - do you think that will exclude me from the switch offer?

eskbanker

Beddie said:

I had a First Direct (joint) account that was closed over 20 years ago - do you think that will exclude me from the switch offer?

Probably - their offer is for new customers only, who haven't ever had an account with FD before.  They are renowned for having a long memory when it comes to this, although I think someone on here did claim to have succeeded.

Middle_of_the_Road

k_man said:

Middle_of_the_Road said:

sgebbie said:

Hi

I read on the main site that one idea to start to switch is to have a burner account opened with a bank which doesn't do any offers (so that you don't waste an offer), but it didn't mention any starter banks.

Who did you open your 1st accounts with?

thanks

Opening an account and then switching it will not prevent you from an offer providing you've not been paid an incentive previously from that bank.

....

This is not correct for HSBC/first direct, as just having opened an account in the last few years can be enough to exclude from cashback

Good to know, will try first direct at some point.

WLewer98

I switched from Monzo to First Direct on 16/01/23 for First Direct's switch offer. Does anyone know if I can reopen my Monzo account after 30 days and then use that account as a burner to switch from again? I'm just trying to avoid a hard credit search by opening an account with a different bank. TIA

WillPS

WLewer98 said:

I switched from Monzo to First Direct on 16/01/23 for First Direct's switch offer. Does anyone know if I can reopen my Monzo account after 30 days and then use that account as a burner to switch from again? I'm just trying to avoid a hard credit search by opening an account with a different bank. TIA

It shouldn't be possible to reopen an account after CASS, not least because the losing bank is duty bound to forward BACS payments for a few years/indefinitely.

Monzo are not keen on having customers back who have CASSed out regardless.

flaneurs_lobster

WillPS said:

WLewer98 said:

I switched from Monzo to First Direct on 16/01/23 for First Direct's switch offer. Does anyone know if I can reopen my Monzo account after 30 days and then use that account as a burner to switch from again? I'm just trying to avoid a hard credit search by opening an account with a different bank. TIA

It shouldn't be possible to reopen an account after CASS, not least because the losing bank is duty bound to forward BACS payments for a few years/indefinitely.

Monzo are not keen on having customers back who have CASSed out regardless.

I tried to reopen a Monzo account after 5 weeks, as @WillPS says, not possible. I was able to open a new account (with the same login credentials). It's been switched. I doubt if they'll let me have a third.

Catplan

WLewer98 said:

I switched from Monzo to First Direct on 16/01/23 for First Direct's switch offer. Does anyone know if I can reopen my Monzo account after 30 days and then use that account as a burner to switch from again? I'm just trying to avoid a hard credit search by opening an account with a different bank. TIA

I switched out a Monzo account to Halifax, I’m sure I was told I couldn’t open an account with Monzo again for 12 months. This was a couple of years ago and I have since opened Monzo again July 22.

35har1old

Middle_of_the_Road said:

sgebbie said:

Hi

I read on the main site that one idea to start to switch is to have a burner account opened with a bank which doesn't do any offers (so that you don't waste an offer), but it didn't mention any starter banks.

Who did you open your 1st accounts with?

thanks

Opening an account and then switching it will not prevent you from an offer providing you've not been paid an incentive previously from that bank.

Easiest way is to open another current account with your present bank, and use that for the switch.
Not that i've used them, but Metro, one of these modern banks often gets used for this purpose.
They won't do a hard credit search, the same applies to Lloyds banking group.

Myself I started by opening a Lloyds classic, then a Lloyds club
I then switched the Lloyds classic to a Nationwide Flex for the £200
Then opened a Nationwide Flex Direct account
Then switched the Flex to a Santander Everyday account for £200

Will soon open a Santander Edge account, and switch the Santander Everyday to the next bank.

Why would you want to open a Edge account ?

Middle_of_the_Road

35har1old said:

Middle_of_the_Road said:

sgebbie said:

Hi

I read on the main site that one idea to start to switch is to have a burner account opened with a bank which doesn't do any offers (so that you don't waste an offer), but it didn't mention any starter banks.

Who did you open your 1st accounts with?

thanks

Opening an account and then switching it will not prevent you from an offer providing you've not been paid an incentive previously from that bank.

Easiest way is to open another current account with your present bank, and use that for the switch.
Not that i've used them, but Metro, one of these modern banks often gets used for this purpose.
They won't do a hard credit search, the same applies to Lloyds banking group.

Myself I started by opening a Lloyds classic, then a Lloyds club
I then switched the Lloyds classic to a Nationwide Flex for the £200
Then opened a Nationwide Flex Direct account
Then switched the Flex to a Santander Everyday account for £200

Will soon open a Santander Edge account, and switch the Santander Everyday to the next bank.

Why would you want to open a Edge account ?

Would put £4000 in the linked 4% savings account was my thinking.