Bank Account ‘Hack’ - MSE

[Somesseduprightnow]

I don’t often open the MSE emails but did for some reason tonight and noticed a hack for bank accounts. I’m sure it’s an old trick just not one I’ve thought of before.

It’s paid bank accounts but the welcome offer ‘pays’ the fee and then the benefits of the account are essentially free like travel insurance, phone insurance etc.

Moons ago I did open an account for the welcome money like he suggests but can’t really be bothered with that now however would consider it for these freebies.

Does anyone have any thoughts on this? I know some have a certain amount you need to pay in per month but asides from this.

I've done it a few times. I have a separate account that's two small DDs going out of it and move it every time I see a good offer.

I get my salary paid into this account and then move it to the main account for bills etc to cover the minimum pay in.

I think I've done most of them now so probably don't qualify again. Plus the account I've got now is pretty good as it pays £5 a month, which more than offsets the £2 fee and has a linked 6% savings account for up to £150 pm.