Bank Account Skimming – A sweet trick that will save you hundereds.

0
1111


Bank account skimming, is a simple saving trick that will quickly help you save your small change into a nice tidy sum, best of all you can even use a app to do it for you.
Years ago, you may have found yourself putting your loose change into a piggy bank, but in a day and age where most of us tap away with contactless payments or make larger purchases by card, not many of us now have loose change.
Introducing Bank Account Skimming
Now I know it sounds illegal, but that’s because credit card skimming is a term used by the media, but this is in no way related and it totally legal and free to do, and you could save hundreds of pounds over a year.

What is Bank Account Skimming?

Unlike normal saving with a monthly transfer, where you end up wishing you hadn’t sent that £50 over, Skimming is simply logging into your bank on a regular basis (Sunday & Friday for me) and rounding down to the nearest £5 or £10. Even down to a £1 on a skint week is positive.

How to get started.
There are two ways to get started, first manually saving or automatically.

Manual way
All you need is online access to your bank account and a savings account or ISA. Now I HIGHLY recommend setting up a savings account with a different bank, that way you don’t see how much is saved and don’t get tempted to spend it, hence my title term ‘Hidden Savings’. I opted for the Halifax Everyday Saver, it was opened instantly online so I could do my first skim in minutes. If you choose to use an ISA make sure it allows regular paying in, some only allow once a month.

Automatic way – Scroll to the bottom of this article.

Your first Skim

Once setup add your new bank account as a payee on your main bank account and take a look at your balance. For the purpose of this example, we will say £57.31. Now if you’re in the middle of a tighter month, a couple of birthdays be sure not to totally skint yourself out. You could either save £2.31, £7.31, £17.31 or just 31p, I do not recommend you send £17.31 then have no money after a bill is taken from your account.

Want to Skim without the hassle?
If you sign up please use my referral code: Q6RRGA get your free £10 bonus upon using it!
Love the idea of Skimming but don’t think you will remember, Well the clever people at Get Chip (Click Here) have made an Apple and Andriod app that will automatically skim your bank account.

They currently work with NatWest, Halifax, Lloyds, Nationwide, Barclays, HSBC, First Direct, Santander, TSB, RBS, Metro Bank and Co-operative Bank in the UK. And are fully regulated in exactly the same way as your bank. But unlike manual skimming they store your money in a Get Chip account, See the FAQ.

What’s better is Get Chip offer 1% starting interest whereas the Halifax saver is only 0.25%. However, by inviting friends to join you could get up to 5% interest. So please if you go ahead with this way use my referral code, I’ll be extremely grateful, Its: Q6RRGA and what’s more if you use it you’ll get a £10 bonus (correct at time of writing) into your savings account or an extra 1% in interest, while I’ll get a 1% extra in interest. Win win!

Don’t forget if you do use cash you can apply the same idea, but I recommend using a savings tin that cannot be opened easily like the onces pictured below, They are usually only £1 in Home Bargains or B&M

Please comment below with any questions you may have.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here