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  • 17 hours ago
Martin Lewis shares ‘burner’ bank account tip to earn £175Source: BBC

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00:00The account you want to start with if you're going to be multiple switching for your burner account should be
00:06one that doesn't normally offer a switching bonus.
00:08Because the fact that you've had that account would prevent you getting a switching bonus in future, so you don't
00:13want to use up one of your switching bonuses.
00:16I would suggest something like Starling or Monzo, one of the easy to open digital banks that are part of
00:23the current account switching service, would be a good place to start this.
00:27So you open up one of those, you make sure when you're looking at the way that you do this,
00:32you'll make sure you have a couple of direct debits going out of it and enough money to make sure
00:36that you can pay those.
00:37You know, small direct debits you would have each month. In most places, two direct debits of at least £2
00:42going out of it each month will qualify you in the switching service.
00:46Occasionally you need three, so you need to check that.
00:48So then, once you've got that set up, you then use that to switch to a new bank that's paying
00:52you a switching bonus.
00:54Checking its eligibility terms, I mean, some banks will say they require you to have £1,000 total paid in.
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