Separate current account for matched betting

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fajita

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#1
Afternoon all

A week into matched betting and I'm thinking it would be sensible to set up a separate current account - particularly as all the transactions wont look good from a mortgage point of view which I read on here!

Just wondered how many of you split it out this way, and also if there's a particular bank that would be good!
 

Jon

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#2
Afternoon all

A week into matched betting and I'm thinking it would be sensible to set up a separate current account - particularly as all the transactions wont look good from a mortgage point of view which I read on here!

Just wondered how many of you split it out this way, and also if there's a particular bank that would be good!
Any bank should do

I just make a separate one with my HSBC account and used that. Took 2 seconds to make up :)
 

fajita

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#3
Any bank should do

I just make a separate one with my HSBC account and used that. Took 2 seconds to make up :)
Thanks! All done! I didn’t think I could open a second account with existing bank for some reason. Should make life a bit easier!
 

Ginnybean

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#4
Any bank should do

I just make a separate one with my HSBC account and used that. Took 2 seconds to make up :)
Did you tell them what is was for? If it is only for matched betting have you had any issues with the bank at all?
 

Jon

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#5
Did you tell them what is was for? If it is only for matched betting have you had any issues with the bank at all?
None of their business what it's for lol. It's not like you are getting a loan or anything so I doubt they really care since you will effectively putting money in there ;)
 

LTedeschi

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#6
Is there an online one that you can set up?
 

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#7

LTedeschi

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#8
I guess so, just so long as it links to a bank card you should be good to go!!
Anyone used an online one before?
 

An-na

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#9
Is there any other option to a second bank account or an app account?
For example, can you use a pre paid debit card to move money in and out?
 

Jamke

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#10
I used my Revolut card for my first few offers, but then opened up a TSB account. Not had a single problem when using it :)
 

An-na

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#11
I used my Revolut card for my first few offers, but then opened up a TSB account. Not had a single problem when using it :)

Thanks for that Jamke :).

Do you know if they credit check you? I need to keep my credit record clean for about another year so I don't want any ugly footprints or rejections showing up on it till then.
 

geebobuk

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#12
I have used Halifax & Nat West previously for setting up exclusive MB accounts. I heard a few stories about Nat West but not had any problems with them so far in approx. 3 years.

As previously mentioned you don't particularly need a current account, as long as you create an account with a debit card facility you will be fine.
 

An-na

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#13
Thanks for the advice folks. I will need to take some time to investigate this more.
Revolut looks good as everything is free but as yet I haven't found out if it credit checks you or not. Some of the others state that they don't so I will check them out too.
When I have worked out what I am doing I will report back and share my findings.
 

Jon

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#14
Thanks for the advice folks. I will need to take some time to investigate this more.
Revolut looks good as everything is free but as yet I haven't found out if it credit checks you or not. Some of the others state that they don't so I will check them out too.
When I have worked out what I am doing I will report back and share my findings.
I’ve honestly never heard of backs doing credit checks when you open a normal bank account - maybe I’m out of touch lol
 

An-na

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#15
I’ve honestly never heard of backs doing credit checks when you open a normal bank account - maybe I’m out of touch lol
I doubt you are out of touch Jon ;)

My situation is a bit complicated right now and I would not be able to open another account at my bank or any other for about a year. I did ask in person the other day and was advised not to go there as it would leave a footprint on my credit record especially if I got rejected. So I am trying to find a way round the situation and keep my credit record and score as good as possible.

Where there's a will, there's a way as they say and I have helpful Shedders on my side :D

This will be useful to me and I'm sure others may benefit once I have worked out what I am actually doing.
 

LTedeschi

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#16
Thanks for the advice folks. I will need to take some time to investigate this more.
Revolut looks good as everything is free but as yet I haven't found out if it credit checks you or not. Some of the others state that they don't so I will check them out too.
When I have worked out what I am doing I will report back and share my findings.
What's Revolut? Haven't heard much about them.
 

An-na

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#17
What's Revolut? Haven't heard much about them.
I don't know about Revolut. I have just been looking at it.
If you look at post #10 Jamke mentioned it.
 

Jon

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#18
I don't know about Revolut. I have just been looking at it.
If you look at post #10 Jamke mentioned it.
I've heard of them but not used them.

I'm mostly seen them mentioned online as a prepaid holiday card in the same way that FairFx is.
 

An-na

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#19
I did not want to use my everyday high street bank for matched betting or any of this money making stuff so I have been researching the new online world of app banks, and what a world it is. I settled on three of them, Atom, Starling and Monzo. All are app only banks. They are real banks and give you an account number and a sort code. Your money in all three of them is covered by the Financial Service Compensation Scheme (FSCS).

The other thing I was researching was prepaid app cards and I decided on two of them. Revolut and Cashplus. This type of card is not covered by the FSCS. These cards give you an account number and a sort code too and you can use them like a bank, but they are not a bank. I liked Revolut and it does do a soft search on your credit file but this does not leave a footprint. I preferred Cashplus as it does not do a credit check and has a variety of cards to suit different financial situations.

In the end I decided to go with Monzo mainly because I emailed them to ask some questions and their customer service was extremely good plus they only do a soft search on your credit file. So now I am the proud owner of a bright dayglo orange Monzo card and account. The app allows you to create pots which you can put money into for different things. I can see this being useful to me for tracking all the different money sources that I have and especially for matched betting which was the whole point of this research.

So, to conclude, if you do want to have a separate bank account for matched betting, or anything else, there are lots of options out there that only take a few moments to set up and protects your cash.
 

Ginnybean

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#20
Does anyone know if you can use pre-paid debit cards on betting sites like those from Revolut or Cashplus?
 

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