Best deals to open additional (ie not switch) bank account (current and savings)

MonSpendingExpert

Am seeing a lot of info on the best switching deals, but nothing if you are not planning to switch
Where could I find the best deals if I want a new account, but dont want to switch?

eskbanker

Slim pickings, if any, for non-switching account opening deals, so the best thing to do is to open a burner account and switch that (once set up to qualify for incentive), thereby leaving your main account where it is (if that's what you want to do).

wmb194

MonSpendingExpert said:

Am seeing a lot of info on the best switching deals, but nothing if you are not planning to switch
Where could I find the best deals if I want a new account, but dont want to switch?

Have a look at the cashback offers on Quidco and TopCashback. At the moment TopCashback has ones for TSB, HSBC, Kroo and Revolut (not a bank). Edit: Quidco has one for First Direct, £40.

imutual has a £10 offer from Nationwide for opening a savings account and £11 for an Isa but my experience is that it isn't reliable as didn't track and then a claim just seems to be sitting going nowhere for months.

pridehappy

In terms of offer, and service, I’ve found Virgin Money to be the best (M Plus Current, M Plus Saver and Easy Access Cash ISA Exclusive) and their product is consistent - it’s not just an introductory offer.

Nationwide FlexDirect and Flex Instant Saver are good options although after the year, FlexDirect doesn’t offer much at all.

Most of the large big banks like HSBC, Lloyds Banking Group, Barclay’s, NatWest Group etc don’t offer very high rates, other than on regular savers which are usually capped at around £500 a month (or less depending on provider).

Another option is to check your local building society, like Skipton Building Society, the Cumberland etc to see if they offer better rates, although they won’t offer current accounts.

gary1312

pridehappy said:

Another option is to check your local building society, like Skipton Building Society, the Cumberland etc to see if they offer better rates, although they won’t offer current accounts.

If the Cumberland is local to the OP they'll actually be able  to offer a choice of two current accounts.

pridehappy

gary1312 said:

pridehappy said:

Another option is to check your local building society, like Skipton Building Society, the Cumberland etc to see if they offer better rates, although they won’t offer current accounts.

If the Cumberland is local to the OP they'll actually be able  to offer a choice of two current accounts.

Yeah, I believe they offer them although either have a minimum funding requirement monthly, have a fee, provide no interest and all say they need to be used as main bank account.

I think other building societies like Skipton Building Society don’t offer current accounts. Always best to check though.

ircE

Cashback websites are probably the best way to go. If you shop (or would like to shop) at Ethical Superstore or Neal's Yard then Triodos have a referral scheme alongside opening an account with them that will give you a voucher of up to £60 - you can easily find a referral with a quick search. Monzo has a £5 referral scheme.

kaMelo

pridehappy said:

gary1312 said:

pridehappy said:

Another option is to check your local building society, like Skipton Building Society, the Cumberland etc to see if they offer better rates, although they won’t offer current accounts.

If the Cumberland is local to the OP they'll actually be able  to offer a choice of two current accounts.

Yeah, I believe they offer them although either have a minimum funding requirement monthly, have a fee, provide no interest and all say they need to be used as main bank account.

I think other building societies like Skipton Building Society don’t offer current accounts. Always best to check though.

Whilst they don't pay interest on any current account (they used to) the minimum pay in's only apply to those aged 24 and above, They certainly don't need to be used as a "main" bank account and holding one gives you access to their regular saver and first home saver accounts.

The Cumberland and Nationwide are (I think) the only building societies that offer current accounts.