Frequently Asked Questions

StoozeMax is a free platform that helps UK consumers earn more from banking. We track bank switch bonuses, 0% credit card deals, and regular saver rates, and give you tools to manage everything in one dashboard — with reminders before deadlines expire.

Yes. The core features — offer tracking, switch logging, reminders, calendar, and all the calculators — are completely free. We offer optional Pro features for power users, but you don't need them to earn hundreds per year.

Yes. Bank switch bonuses, 0% credit cards, and regular saver accounts are UK-only products offered through UK banks. You need a UK address and eligibility to open UK bank accounts.

A single person doing 3-4 bank switches with some regular savers can earn around £950/year. A couple working together can exceed £2,000. These are real, achievable numbers — not clickbait projections.

Bank switching means moving your current account from one bank to another using the Current Account Switch Service (CASS). Banks pay you cash bonuses (typically £100-200) as an incentive to switch. The process takes 7 working days and your direct debits, salary, and standing orders transfer automatically.

Yes. CASS is completely free and is backed by Pay.UK and regulated by the FCA. There are no charges for switching, and the guarantee covers you if anything goes wrong during the process.

Opening a new account may involve a hard credit check, which can cause a small temporary dip (a few points). This recovers within a few months and has no meaningful impact on mortgage applications — provided you pause switching 3-6 months before applying.

A cooling-off period is the time you need to wait before you can switch back to a bank and claim their bonus again. Most banks require 12-36 months. StoozeMax tracks these automatically and tells you when you're eligible again.

Sister banks are different brands owned by the same banking group. For example, Lloyds, Halifax, and Bank of Scotland are all Lloyds Banking Group. You usually can't claim a switch bonus if you've held an account with any bank in the same group during the cooling-off period.

Most switch bonuses require 2-3 active Direct Debits. You can set up low-cost direct debits for as little as 30p/month using services like 30p.co.uk or 50pDirectDebit. See our guide on cheap direct debits for bank switching.

Yes. Joint accounts can be switched through CASS. Both account holders need to agree. Some banks pay one bonus per joint account, while others may pay each holder separately. A couple can earn significantly more by switching both sole and joint accounts.

CASS automatically redirects everything — salary, direct debits, standing orders, and incoming payments. The old bank forwards any payments sent to your old account for 3 years, so nothing gets lost.

Cash switch bonuses are treated as miscellaneous income and fall under the £1,000 trading allowance. If your total switch bonuses are under £1,000 in a tax year (most people), you owe nothing. Interest-rate bonuses count as savings income under your Personal Savings Allowance.

There's no limit on CASS switches. You can switch as often as you like, subject to each bank's cooling-off period. Many seasoned switchers do 4-6 switches per year.

Stoozing is a UK strategy where you use a 0% interest credit card for everyday spending instead of your debit card. The cash that would have left your bank account stays in a savings account earning interest. Before the 0% period ends, you pay off the card in full and keep the profit.

Yes, stoozing is perfectly legal. You're using the credit card as intended — making purchases and paying them off. Banks offer 0% deals to attract customers, and there's nothing wrong with using those deals strategically.

It depends on your spending level and the savings rate you can get. Someone spending £600/month on a 24-month 0% card with a 4.5% savings account could earn around £300-400 in interest. After any balance transfer fees, typical net profit is £150-400 per year.

Applying for a credit card creates a hard search, which may cause a small, temporary dip. However, responsible use of the card (keeping utilisation low, making minimum payments on time) actually builds your credit history positively.

Missing a minimum payment on a 0% card is the worst thing that can happen while stoozing. It typically voids the 0% deal immediately, reverting the balance to the standard rate of 23-25% APR. Always set up a direct debit for at least the minimum payment.

The best options are high-rate easy-access savings accounts or Premium Bonds (if you're a higher-rate taxpayer). You need to be able to access the money quickly when the 0% period ends, so avoid fixed-term accounts that lock your money away past the card's expiry date.

You can, but it's sensible to pay off the card and avoid new applications 2-3 months before applying for a mortgage. The outstanding balance will show on your credit report, which mortgage lenders will factor into their affordability assessment.

A regular saver is a savings account where you deposit a fixed amount each month (typically £25-300) for 12 months. In return, you get a much higher interest rate than normal savings accounts — often 6-8% AER. The catch is that the effective return is roughly half the headline rate because your balance builds gradually.

Usually yes — most regular savers are only available to customers who hold a current account with the same bank. This pairs well with bank switching: switch for the bonus, then open their regular saver for extra earnings.

Not quite. Because you deposit monthly, your average balance over 12 months is roughly half the final balance. A 7% regular saver on £250/month generates about £114 of actual interest — not the £210 you might expect. It's still excellent, but manage your expectations.

This varies by provider. Some banks simply skip that month with no penalty. Others may reduce your interest rate for the entire term or even close the account. Always set up a standing order so you don't miss a payment.

Typically one per bank, but you can have multiple regular savers across different banks. This is the stacking strategy — open 2-3 regular savers at different banks to multiply your earnings.

At maturity, most banks move your balance into their standard easy-access savings account, which usually pays a much lower rate. You should move your money to a better account and consider opening a new regular saver (or re-opening the same one if the bank allows it).