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Chris Harvey

Bank account - Which accounts are good for matched betting?

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Guide: https://www.teamprofit.com/matched-betting-bank-account

Setting up a separate bank account for matched betting is definitely not essential, but many members (myself included!) find it helpful as it keeps your bookmaker transactions separate from your day to day personal spending 🙂

Which bank account would you recommend for matched betting based on your experience so far?

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I opened one with Nationwide, probably because my mortgage is with them, anyway it's got easy online access, ok zero % interest, but I just needed an easy set up account, plus I can see my mortgage account, so works for me.

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Nationwide as well.

Easy to set up, no issues with over 90% of transactions being betting sites and the app is really good.

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I've been using Barclays as an account for my investments not just matched betting, but haven't had a problem in the past 2-3 months with lots of deposits and withdrawls to betting sites.

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Tom, I use Metro bank and been happy. Do banks mind us having all transactions related to MB? Or should we spend on regular things now and then?

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12 hours ago, Corinne said:

Tom, I use Metro bank and been happy. Do banks mind us having all transactions related to MB? Or should we spend on regular things now and then?

Never had any issues Corinne with only MB transactions - the only thing to be wary of is if you're planning on applying for a mortgage, then banks don't like betting transactions. If this is the case it's advisable to open a separate MB bank account.

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I use Metro. I did originally open a bank account with Monzo especially for matched betting, but had a problem with BetFred not giving me my free bets because it wasn't a 'bank'...(it is). I then had a long back and forth, I got my free bets because they decided it was a bank afterall, but by that time, I figured its easier to just use a normal bank and one that's not an 'ex' non bank. 

Id recommend just having a throwaway bank, I purposely chose metro because its a bank I wouldn't use normally. 

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20 hours ago, Lorelei said:

I use Metro. I did originally open a bank account with Monzo especially for matched betting, but had a problem with BetFred not giving me my free bets because it wasn't a 'bank'...(it is). I then had a long back and forth, I got my free bets because they decided it was a bank afterall, but by that time, I figured its easier to just use a normal bank and one that's not an 'ex' non bank. 

Id recommend just having a throwaway bank, I purposely chose metro because its a bank I wouldn't use normally. 

I've never heard of Metro bank, might give them a check out!

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using First Direct as it was easy to add another account.  No declined transactions and no problems.

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I use Starling, which is completely app-based. It was very easy to open an account, and I've never had any problems. I use it solely for MB. 

I like the way it gives me push notifications when I spend or receive money, too. :classic_smile:

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I use Startling too, so easy to set up the account. Everything is digital and fast. I especially enjoy the notifications when money comes in and out, very helpful. 

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On 12/4/2018 at 1:00 PM, Killer said:

I use Starling, which is completely app-based. It was very easy to open an account, and I've never had any problems. I use it solely for MB. 

I like the way it gives me push notifications when I spend or receive money, too. :classic_smile:

Do withdrawals come through quick? I have a revolut and occasionally use that, but withdrawals are so slow to be processed after leaving the bookie.

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I use halifax- at some point I'd like to move over to tesco as I think you can get interest paid

avoid co-op for mb

Edited by £29.95

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We've been using our main current account with HSBC and it can be tricky to manage everything. Has anyone had any issues when their mortgage renewal was due in terms of getting a good deal or being turned down by some lenders? 

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20 hours ago, Bluestar said:

We've been using our main current account with HSBC and it can be tricky to manage everything. Has anyone had any issues when their mortgage renewal was due in terms of getting a good deal or being turned down by some lenders? 

I've never actually heard of anyone being turned down for mortgages/renewals however one of my friends was questioned. He simply explained he matched bets and all was fine. I would really recommend getting a separate account though, if not for this, for being able to manage things a lot easier.

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On 12/6/2018 at 9:19 AM, Tom Portlock said:

Do withdrawals come through quick? I have a revolut and occasionally use that, but withdrawals are so slow to be processed after leaving the bookie.

It varies, but I think how long they take to come through mainly depends on the bookie. Starling is instant for inter-bank transfers, at least. I also like the fact that it gives you a wee push notification saying (for instance) "You recevied £15 from William Hill".

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45 minutes ago, Killer said:

It varies, but I think how long they take to come through mainly depends on the bookie. Starling is instant for inter-bank transfers, at least. I also like the fact that it gives you a wee push notification saying (for instance) "You recevied £15 from William Hill".

The push notification is super helpful when it comes to matched betting! I can gauge the amount in my account without actually opening it. I love starling for MB, my only issues has come up recently, missing a payment from Sky Vegas and they told me they've had a lot of problems with Starling. Which is odd because it comes from the same place Skybet does and there was no problem withdrawing from there

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