ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Making the most of your bank

Updated on March 26, 2016

Making the most of your bank

There are many ways to quite legally make money from Banks and Building Societies if you are willing to put-in some hard work.

Below, I intend to guide you through the various ways you can 'play the system' to get bonuses

Get paid just for signing-up

If you go through sites such as 'TopCashback or 'Quidco', you can earn money just for applying for an account. There are a few hoops to jump-through, but for earning a free lump of money, they are worth it.

Get paid to pay your bills

There are a few cash-back Credit/Debit cards available that actually pay YOU to use them. For instance (as of 2016), these are -

Santander

Santander have a 123 deal with their current account.

With this account you earn -

  • 1% cash back on your water and Council Tax bills and on your Santander mortgage (if you have one).
  • 2% cash back on gas and electricity bills..
  • 3% cash back on your mobile phone, landline or broadband bills and paid-for Tv packages.

The account pays 1% interest on entire balances over £1,000, 2% on entire balances over £2,000 and 3% on entire balances over £3,00 and up to £20,000 (no interest is paid for monies above the £20,000, but is for monies up to the limit).

Santander charge a monthly fee for the account do that to make it worthwhile, you need to have at least £9,000 in savings or spend inexcess of £600 per month on bills just to cover the monthly account fee.

NatWest


NatWest Rewards pays 3% cashback on your gas, water, electricity, telecoms, Council Tax and TV bills.

Having checked, they have a greater range of providers than Santander and even include the smaller energy and telecoms providers.However, the downside is that the account costs £3 per month (or, £36 per year) to run which can seriously eat in to your cashback

Barclays


Barclays 'Blue' reward account will pay you £7 a month just for banking with them (so long as you deposit £800 per month and have 2 monthly direct debits going out). They will also pay you £3 per month for taking-out/renewing your buildings and/or contents insurance with them, £5 a month if you have a mortgage with Barclays and up to 7% cashback with 110 selected retailers.

Reward accounts (and the low-paid)

A lot of the 'Reward' accounts (such as Barclays 'Blue Rewards') and some of the higher interest accounts (such as the current account from TSB which pay's 5% interest on accounts with £500 per month being deposited (up to a £2,000 account level, then0% on all monies excess to the £2,000).So how do you overcome this if you are a low earner?.

The answer lays in the ability to use online banking (or mobile banking apps0 to move money around your various accounts in order to trigger the rewards/higher interest.

Say, you earn £400/month, but the account you wish to open needs a minimum of £500/month deposited into it. With online banking and a second account elsewhere, you could transfer £100 out to your second account, wait an hour, then transfer it back in. Do this enough times and you would have the needed monthly amount showing as being deposited. The Banks want these accounts to be used as your main account, so don't count out-goings, only in-comings. So, this can be used to your advantage.

In theory, if you earn enough, you can have 2 accounts and split your income between the 2 (even transferring money between them to make sure they stay above the minimum monthly income rule).

If the account/s require you to have a set number of Direct Debits coming-out (such as the Barclays 'Blue Reward Account'), there is nothing stopping you setting up 2 DDs to pay £1 each back into the account you use the most. You just need to remember to transfer this back across to keep the account in credit).

Other 'Freebies'

As well as cash-back/reward accounts, there are other benefits available such as free Anti-Virus or no-fee spending when abroad.

For instance, if you have loads of lose change you regularly bank-up, then instead of using the CoinStar machines to turn your coins into notes, then an account at either Barclays or HSBC gives you access to their coin-deposit machines. These are free and don't require you to bag-up your coins into the correct amount before queuing at the bank for ages. And, with internet banking, you can easily transfer the cleared funds into another account.

As for free Anti-virus/security software, the following Banks/Building Societies offer free software -

  • Barclays - Kaspersky (3-PC or 1 x Mac. Also Mobile IS for Android/iPhone/Blackberry)
  • Nationwide - Rapport
  • Tesco Bank - TrustDefender
  • HSBC - Trusteer Rapport AND McAfee AND MicroSoft Essentials
  • Natwest - Rapport

It is worth noting that Trusteer Rapport has been known to slow-down a PC to a crawl.

Barclays allow you to sign-up for all 3 products without any issues.

Comments

    0 of 8192 characters used
    Post Comment

    • profile imageAUTHOR

      Jamesm1968 

      2 years ago from UK

      Thanks for that. I suffer from bi-polar (a fancy name for depression), so sometimes my writings are more like ramblings.

      Most of my hubs have had at least 3 edits to make them more readable.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)