Any bank accounts that open on the spot?

[BajiNahid]

I am wanting to open a current account with a new bank but need one that can provide me with the bank details on the spot as I would like to use this burner bank account to switch. Any suggestions?

I currently bank with

Bank of Scotland
Royal Bank of Scotland
Chase
Santander
Revolut

[Ash]

I think there are prepaid cards that come with sort code and account number that can be used for same thing.

[BJ]

I think most banks now open immediately and provide account numbers etc as part of process. It is usually just cards and PIN you wait for. Since you seem to be in a hurry then probably best when doing the switch application to say you do not have a debit catd unless you can wait a few more days until one arrives.

[John]

Prepaid cards aren’t suitable for current account switching.

[points_worrier]

Metro bank used to be able to give you a card there and then

[Richie]

Most open accounts immediately if you apply online.

[Andrew.]

Be mindful that if you already have an account with BoS, you won’t be eligible for bonuses for subsequently opening an account with Halifax or Lloyds. It’s the same with RBS and NatWest.

So you could potentially use that to your advantage as your preferred switching point for starters as their IT systems will already recognise you as going through their AML checks. Of course, you might end up red-flagging as undertaking odd behaviours.

[Carlos]

Open multiple burner ones with the fintechs, that way you dont lose any potential switches in the future

[Ash]

Long shot but are there any accounts that do not do hard credit searches?

[dst87]

Unless this has changed, I’m almost certain that Monzo and Starling both open immediately (or nearly immediately), and you can add the debit card to Apple Pay and start using it straight away

[Andrew.]

Ash wrote:

Long shot but are there any accounts that do not do hard credit searches?

Savings accounts are usually soft searches. Money transmission accounts are generally hard searches.

[Ash]

Thanks. Would a savings accounts works as a burner?

[Richie]

See MSE website and their basic bank account section.

[Rui N.]

If you already have a Virgin Money account you can add another right away.

[Carlos]

Ash wrote:

Thanks. Would a savings accounts works as a burner?

No, not part of the switch process

[lambshank13]

Ash wrote:

Long shot but are there any accounts that do not do hard credit searches?

Yes, Monzo and Starling use a soft search (they will only do a hard check if you apply for an overdraft with them).

If you already have a Lloyds, Halifax or Bank of Scotland account then you can open an additional account quickly in the app and I’ve never had a hard search for doing this.

When opening second/third accounts with NatWest/RBS it has been hit and miss, sometimes I’ve had hard searches, sometimes not.

My experience with TSB has been that when opening multiple current accounts within the same calendar month, only the first application has resulted in a hard search.

[Ash]

Thanks lamnshank13. And these 2nd and 3rd accounts at the same bank can be used as burners?

[lambshank13]

Ash wrote:

Thanks lamnshank13. And these 2nd and 3rd accounts at the same bank can be used as burners?

Yes, works fine. But do it sparingly – as mentioned above, too much of this behaviour will likely be flagged on their system and trigger a review.

And if a decision is made to shut down your accounts with, say, Lloyds, you may find that they shut down your Halifax and BoS accounts too, as they are all part of the same group and their systems are integrated. Be mindful of this with the NatWest/RBS/Ulster group too.

Happy switching!