Online only Banks

Hacksawcats1

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

friolento

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.

flaneurs_lobster

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.

Nasqueron

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

Hacksawcats1

Brilliant! Went with Chase and got my £50 as well. Thanks everyone for sound advice :-)

Hacksawcats1

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 :-)

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/81899669#Comment_81899669

Same card used for all current accounts, just quote the number from the app.

PRAISETHESUN

My experience is that you either provide the main debit card number, or say there is no debit card associated with the account.

Hacksawcats1

AHH, I see. Many thanks again :-)

Hacksawcats1

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 :-)

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/81917979#Comment_81917979

Doesn't matter who the payee is, as long as they are shown as "proper" Direct Debits, not Continuous Payment Authorities or Subscriptions.