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Online only Banks
Does anyone know if I can open an online only bank account and fund it, then use it as a donor switch right away? :-)
Thanks in advance
Comments
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Chase, probably - but you need to set up a secondary account to switch. If you use the main account, you can never open another Chase account again. Whilst you can have any number of secondary accounts over time. So quite possibly extremely useful for switching.
You might also need Direct Debits for switching. Those take a while to become active, probably a week at least.0 -
Pretty much any of the online-only banks will do, what might take time is getting "active" direct debits set up if they're required.
Chase is useful, a second current account can be created in seconds for use in switching, moved, then the process repeated.
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I've done Starling and Monzo before in the same way but as above Chase is likely the easiest
I would suggest also googling "reddit uk beer money chase" and use a referral code when you join, put in £1000 (doesn't have to stay there) and you get a free £50
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Brilliant! Went with Chase and got my £50 as well. Thanks everyone for sound advice :-)
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Hi all, another quick question: if I use a Chase secondary doner account to a switch to another bank, how do I go on about providing debit card details to the new bank? As it's only the main Chase current account that has a debit card? :-/
Thanks in advance :-)
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Same card used for all current accounts, just quote the number from the app.
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My experience is that you either provide the main debit card number, or say there is no debit card associated with the account.
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AHH, I see. Many thanks again :-)
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Hi All, am I ok using three "stripe" DD's going out of an account to qualify for three active DD's for a switch offer account?
Thanks in advance :-)
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Doesn't matter who the payee is, as long as they are shown as "proper" Direct Debits, not Continuous Payment Authorities or Subscriptions.
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