Dummy accounts for bank switching (open then switch)

[@geckothelizard]

FYI - not true about the club lloyds cinema tickets - when I switched from them they voided the tickets so they weren't accepted in the cinemas, even though i had printed them long ago - the codes were now invalid. Make sure you use them before you switch...

[@OH2023-cj9if]

I switched from Starling, also from Monzo as they kept pushing for me to have an overdraft I did not want or agree to. Monzo ignored my wishes and decided I should be given an overdraft and made a full credit check. This was so annoying as they also kept pestering me to pay for an account, not stay with the free Monzo account. I switched out from Monzo as soon as I could.

[@shaundowse2894]

A very thorough and informative video as always.

[@macsidia]

Barclays have the 5% rainy day saver but you do need Blue Rewards.

[@jazzleman]

It was a real ordeal trying to get a Smile account (co-op's online bank) Had to post a countersigned copy of ID to them to have verified before opening the account. Too many phonecalls trying to get it set up. I think this came with an overdraft attached.
I think co-op bank set up process could be similar/same or easier once you have one of them.

[@mollycrawford5118]

Totally agree with that, was a complete nightmare to set up

[@jazzleman]

@@mollycrawford5118 worth a complaint if they messed it up though! I got £75 as compensation. My co-op account was set up without any difficulty this time too. They would have used the info on file.
Btw, happy to refer you to for the £125 refer a friend thing btw?

[@jakemorj5498]

@@jazzleman please refer me. what type of account do you have and whats your sort code name acc number etc.
Please personal message me if you can

[@minimad8793]

Tks Andy. looking forward to switching soon :)

[@OH2023-cj9if]

You can't use Kroo Bank as a dummy as it is not recognised as a real bank because they are not permitted to be part of the bank switching scheme.

[@BeCleverWithYourCash]

Sadly not

[@samc12345]

I have been with natwest for 15 years. Last year I opened an additional select account with them and immediately switched that into a new club Lloyds account when they offered a switching bonus. I few months later I opened a new monzo account and immediately switched that to first direct for their £150 switching offer. I kept that account for a few months and a few months ago I switched that account into RBS, also offering a switching bonus (to be paid in 2 weeks!). Which I'm going to keep as I now have their digital regular saver paying 3.5% interest. In a few months I'll probably open another dummy account (metro, co-op, barclays perhaps) to switch into nationwide (I opened a nationwide savings account a few months ago to get the extra £25).

[@KishanPatel-mk7qd]

Hi Sam, did your original Natwest account stay intact? I want to do something similar to you

[@houdafadili2290]

Thank you for the great content .. very helpful

[@jamesmilford2011]

Hi Andy, great video as always. Just set up a dummy account on Metro and wondered if you could tell me how long I need the new account for and how much to have in there to get the current switching bonus to Lloyds Bank? They’re offering £200 to switch and a decent 5+% for savings account. Hence the dummy account setup just don’t want them to have a loophole

[@barrielui]

Great info! Also, TSB S&S account offers 5 quids cashback for the first 6 months of joining and meets some requirements. It could be worth taking that and then switch.

[@BeCleverWithYourCash]

Yeah, it’s a bit of a faff to get the cash though so I’m not a fan - but can be done

[@YG-wy8fs]

For the option of “The extra account with your existing bank” - would the bank do a hard check for this? I have a joint account in Halifax, so can my partner and I open additional individual current accounts in our respective names for the purpose of switching without having an impact on our credit score?

[@supitchakaenhirun8045]

Does anyone know how long we have to wait before we can reapply/reopen a bank account again with Natwest, LLoyds, HSBC, and others after closing it? Thank you! It would be really helpful for everyone.

[@alfieoxford]

Andy I am 85 and have been with my high st bank for years and years. I was thinking of opening a 2nd account with Nationwide but they want 2 direct debits . I have ten but how do I transfer only 2 to Nationwide? also I have no mobile.just my PC. Alfie

[@OMB809]

I’ve read somewhere else that if you keep switching accounts, you could be blacklisted by all major banks. Not sure if it’s true or not, though

[@kevinhughes9801]

Great vid thanks

[@AK-rr8zz]

Excellent video Andy.
Quick question I'm a natwest customer already and now they are offering 175 for an additional account to be transferred to them with some restrictions.have you had experience of this and is it any good.

[@irishmansteve4451]

Not sure if you have a video on this but if not, could you do a video on credit score?

[@hero0710]

How long do i have to wait after i create a dummy account to switch to another for the bonus. Can i do it after a few days? Or would the other bank be suspicious and not approve my switch?

[@tinyweegiant4045]

Does anyone have up to date information if its possible to use a second third forth etc chase account as a burner to switch, but still keep your main chase account

[@billl5297]

Will Halifax let me switch to another bank a week after opening the account?

[@franciscoreis2]

Hi Andy! Thank you so much for creating these wonderful informative videos! I was wondering if I register for a Starling Bank personal account just for the purpose of using it for a switch, do you think that will affect my ability to open a business account with them in the short term (after about one month)?

[@ashtongtv863]

Yes it will.

[@LynxD]

Hey Andy! Thanks for such a wonderful and informative video =) Just wondering if I open an extra account with my current bank, do they carry out a hard search?

[@BeCleverWithYourCash]

It depends on the bank

[@GoodFriday2024]

Hi Andy, got a question for you regarding all the current account switching bonuses. Ive switched a few recently, Santander £175, First Direct £175, Natwest £175 and my wife has done similar. Are these bonuses taxable or can we admit them from our self-assessment tax return?

[@kittyjenkins6750]

Hi No they're not. The are a tax free incentive

[@ZupaTr00pa]

If I setup an Oxbury Regular Saver and Barclays Rainy Day Saver for most of my savings but then grab a dummy account to switch to First Direct for the £175 cash and 7%, is that worth sacrificing a little of the Oxbury interest to get that cash injection and the 12 month £300 a month fixed saver at 7%?

[@amiskyu]

Starling rejected my account opening request

[@lothropstoddardiii6231]

i have a dispute with a medical office and they are saying i agreed to something i never agreed to and now they are saying it cannot be "undone" and it amounts to about 240$ a month for a year.
Now , i agreed to doing TRT and they tried to talk me into taking another drug.
i had never gotten a dose of the 2nd drug, and now they are saying it cannot be undone and i have to pay for it for a year anyways.
Now i was considering telling my bank i misplaced my card, but if they have my acc# it wont matter if card # changes...so cant i in theory, open another account somewhere else with say a few bucks and then transfer the rest from old bank into the new banks account which will have a new account number that the medical office doesnt have?
I am trying to avoid spending hours on phone disputing this charge and weeks to finalize it...
I know the medical office wont sue me, they are straight up scammers.

[@seantuaima]

Does First Direct Bank ever send any emails to it's new and existing customers ??, there's a reason why I'm asking.

[@minimad8793]

only if you have specified your preferences for receiving stuff from them via email

[@nickcook7408]

Here’s a crazy suggestion - why don’t you ring them and ask them? They will tell you with more reliability and authority than some random person in the comments section.
Use your brain.

[@841gb]

Hi Andy, great video, so I should use the switching service on the current account I have had for 15 years. As it will impact my credit report if I do ?

[@BeCleverWithYourCash]

You can, but it might be worth keeping that one and using a dummy for the switch instead

[@charlottet7548]

I made the mistake of opening a dummy HSBC account and now cannot take advantage of their switching deals or those from first direct. I also used Barclays as a dummy account as well as metro bank and starling. I’ve done 5 switches in 3 months (about to do the 6th)
I opened the Lloyds account. Do they send the cinema tickets in the post?

[@jazzleman]

I think they will email them to you a month + 5 working days after opening your account. I'm expecting mine next week.

[@charlottet7548]

@@jazzleman I received mine yesterday!

[@firstnamelastname2971]

How’s the credit looking like lol

[@charlottet7548]

@@firstnamelastname2971 my credit score is excellent 👌🏼

[@richy1812]

How do you move direct debits as nationwide needs it as part of the switch

[@Joides]

If I was to switch to a Lloyds - Silver plus (£200). can I change the account to a Lloyds Free Account once the switch has gone through once I have received the (£200)?
I don't need the extras this account offers, as I already get all that through a Nationwide Account.
Thanks in advance for any help.

[@peppesan86]

I already have a Monzo account, and it’s my oldest account. Don’t really want to switchit out to not have problems with credit report.
Am I able to open a second account and then switch to other banks?

[@garymoreton3244]

Hi, I have a flex account with Nationwide money in but not used can I switch this account just to get the reward without any direct debits?
Thanks

[@jeffreytuedor7746]

Can I switch from a monese account Andy?

[@jollux5967]

Do you have to have the direct debits or standing orders set up prior to switching for the HSBC deal?

[@DanStoneUK]

2 standing orders is fine

[@ljrgarcia]

Is Monzo part of the switch?
I have a spare Monzo account I would like to switch for one of the paying ones

[@razryn.u1YM0J4byXLb]

monzo is part of the switching service yes

[@Carramel]

Hi Andy do you have a referral code for Co-op bank?

[@Stoiny]

can you use monzo to switch to natwest?

[@aflayva5115]

I switched to Lloyd's been with them 2 months, I got the incentive and now I want to switch to Santander. Will Lloyd's take back the incentive or should I stay with them longer before doing the switch

[@bangdobrich]

Do Loyds still do the incentive?

[@garynicholls8783]

I’m on long term sick to switch accounts do I have to be working to get the switching money?

[@comfortzone5618]

No you don’t have to be working!

[@fionacoles1928]

Should I stop paying money into my Natwest regular saver, now I have reached £1000 balance?

[@samc12345]

Yes. You get 3.3% only on £1000. You get very little interest on any amount higher than that. But if you're not worried about maximising your interest and need a save space to put away a small amount each month then continue using it, just know that you'll get the interest paid for the first £1000 only

[@elliottmitchell6214]

can you switch from an account even though you don't have any direct debits in that account, also if you have a credit card with that bank does that get cancelled as you switch?

[@BeCleverWithYourCash]

It depends! Some switch offers require “active” direct debits before the switch, others can be set up on the new account.
Likewise it depends on the terms of the credit card. Most won’t, but it’s worth checking

[@Gabriel-nl5ri]

Do i need to have a salary going into my account for it to be eligible to switch?

[@comfortzone5618]

No you do not!

[@seckinboy]

I have 2 questions which I can’t seem to find the answer to.
I have 2 current accounts with Barclays. If I switch one of the account will it close both my accounts and combine into one? Reason I have 2 is because 1 is for my main savings and direct debits. 2nd is for everyday use.
2nd question - does it have to be debit account you’re switching from?
Thanks.

[@TheVanderfulLife]

I'm new to all this so could be wrong.
1) it'll only close the current account, not all your barclays accounts
2) I believe it does

[@jessicagalmarini7070]

Is a standard free Monzo account usable to switch?

[@MDRashid0509]

Yes

[@justynaswiton7385]

I've just set up a Monzo free account as a dummy account to allow me to switch to RBS. Do I need to put some money into that dummy account first or can I do the switch with £0 balance? I'm new to this, so not sure how it works.

[@SK-rv8oz]

Hey mate did you find out? I’ve Just set up this account

[@justynaswiton7385]

@@SK-rv8oz I never found out, so I put a small amount in and also used my card once or twice to show some activity on that account before I switched.

[@ebec908]

Can i open a second lloyds current account for the rbs switch offer ? I have 2 cirrents accounts with lloyds

[@upig1645]

In case anyone still wondering about this reads this, I just did a bank switch for the first time from Starling bank to Natwest with £0 balance (no transactions made at all) in the Starling account and the switch and bonus still went through fine! :)

[@cinams]

I've just opened a dummy account, but I selected the option that I don't need a debit card.
Is the debit card required for bank switching?

[@BeCleverWithYourCash]

Yes it almost always is, but you’ll be able to request it once your account is set up

[@rahulkhatri4158]

@@BeCleverWithYourCash I made a starling dummy and have requested to switch to hsbc. At the end of the hsbc application i selected no for debit card because I did not order one from starling. Will i get paid the switching bonus if i switch without any debit card ? Thanks

[@kchinthaka8975]

@@rahulkhatri4158 what happened about this? Were you paid the bonus? Should have done, as you didn't have a valid debit card. If you weren't paid the bonus, complain to HSBC, and if they still refuse take it up with the financial ombudsman service (FOS) or go through the online money claim site (small claims court - the online version). I'd favour online money claims as chances of getting a decision against HSBC through the FOS is pretty slim. You could try FOS and if they don't uphold your complaint then submit a online money claim.

[@Mitchyp6183]

I did the Halifax switch deal from current account to the reward account in April and I haven’t been paid the switch money. Tried ringing them up but I’m not getting anywhere, shall I keep perusing it or give up. I kept to the switch rules 😞

[@BeCleverWithYourCash]

Def get it touch to find out what’s happening, and complain if you don’t get a solution

[@Mitchyp6183]

@@BeCleverWithYourCash No affence to anyone, but can’t really understand the person on the phone as there abroad. Do u think writing a letter would be best or go in to a bank. Thanks for replying, love your videos

[@kchinthaka8975]

@3:54 - 'switches require a debit card number' - are you sure about that? I'm pretty certain I've done a switch from a donor account that didn't have a debit card. I think it only becomes a show stopper if you have a valid debit card and don't mention it when applying for the switch. Saying that, with the metro bank donor account I've been setting up lately, they always send out a debit card automatically, so I just wait for it to arrive by post, then mention it while switching, so there is no chance of any niggles.

[@BeCleverWithYourCash]

Not always, but sometimes- so it’s worth having one just in case!

[@kchinthaka8975]

@@BeCleverWithYourCash all the banks I've switched to have asked 'do you have a debit card with that account' and I've selected 'yes' or 'no'! If you're saying 'sometimes' during the switch process a bank will insist we enter a debit card number it could mean a particular bank(s) will do that or any bank would randomly insist this. I presume it's the former? If it is are you aware which bank(s) do that? Not asking for all, just the one's you're aware of.

[@rarrkind8782]

Andy Starling is forcing me to provide details such as how much I make, I think it's none of their business as to how much I make, would it be an issue if I give them wrong info, I have it when these banks force you for info like this.

[@razryn.u1YM0J4byXLb]

they ask it to counter fraud, it's not just Starling

[@Si_in_the_Sky]

Monese £30 - SIMO3561

[@KishanPatel-mk7qd]

I have a Natwest Rewards account and have just opened a Select account. Can I switch the Select account to sonething else whilst keeping my rewards account intact?

[@BeCleverWithYourCash]

Yep!