I also suggest when you know you are about to apply for a switch, pay in enough money to cover 2 months DD payments as a precautionary measure. Keep a positive balance on this account, don’t incur overdraft charges as you are eating into the profits of your future bonus payment. Often when you apply to switch your account the new bank will ask for the debit card number of the existing account. Make sure if given the choice you request a debit card for this account. Have it set up ready to go when a new bank announces a switch bonus. It could even be a 2 nd account with the same bank you are already with. Its primary purpose is for you to switch it to another account to gain the bonus that the bank is offering. Similar to a bill payment account, this is not your main current account. To take advantage of these bonuses it pays to have a bank account you have designated for exactly this purpose. Preparing to make money with your bank account
#BANK ACCOUNT MONEY GENERATOR FREE#
I estimate that I probably spend a total of 1 hour per new account, spread over a number of weeks.įor a £125 bonus that’s the equivalent of being paid £125 per hour tax free!Īt time of writing you can get free money right now from HSBC who are offering a free £125 and both First Direct and Halifax are offering £100 switching bonus. There are usually strings attached but follow the rules of their offer and you can make a few hundred pounds in a year.ĭouble that if you have a partner you help do the same. These days quite a few of the UK banks offer a lump sum bonus to transfer your existing bank account to them. However there are ways to make money with your bank account if you are willing to read the small print and follow terms and conditions. In this time of low interest rates and higher inflation you have to work a little harder to get your money to make money. How about getting some free money right now? How would you like to make money with your bank account?