Martin Lewis

Now, bizarrely, the first second account that you need to get, you want to go and get the type of account...

that really doesn't have any perks and isn't going to offer any perks in future.

So a bank accounts like Monzo and Starling, digital banks that are really easy to open.

And then once you've got that bank account, the reason for doing that is to get the perks, you almost always need to use the new bank seven day switching service, which is where it closes the old account for you.

It switches over your direct debits and standing orders automatically, and it auto forwards any payments made to your old account.

So you want to have some, you know, not normally an incentive-based account that you're going to start off with.

And then once you've got that set up, you then need to use that as your burner account to move in order to get the bonuses.

But there will be criteria.

The most common are that you will need to be shifting across two direct debits, normally of at least £2 a month.

So just take a couple of your lower direct debits that you have from your normal bank account, making sure you're still fulfilling the criteria at Lloyds.

put them into this account and make sure you've got money in order to be able to pay them.

Put them into that first burner account.

You will, in some banks, but not all, also have to fund the new bank.

Now, some might say you need to have £500 a month in, so that's just having your salary going in there.

Others will say you need to put a total of £1,000 in in the first 30 days.

Well, that's all pretty easy.

As long as you've got the funds in Lloyds, you can transfer it across from Lloyds.

You can have the money going into there and that shall fulfil the criteria that you need in order to get the bonuses.

Once you've got the bonus...

on your second second account, if you see what I mean, you've got your first second account, and then it's your second second account will be the first one with an incentive.