Brits need to prep their bank accounts for doomsday too — it’s easier than you think

Protecting your finances incase of doomsday is essential (Picture: Getty Images) Between the UK Government rolling out its ‘Be Ready’ campaign, and warnings that hackers are messing with supermarket fridges, the UK is prepping for doomsday. Sales of hand sanitiser soared by 83% in the 10 days after the emergency checklist went live on October 22. There was also a 67% increase in bottled water, and a 37% spike in jarred goods sales. But while your cupboard might be stocked, what about your bank account? According to a finance expert Noyan Nihat, there’s some important steps to take to ensure your money is safe in an emergency. But don’t panic, it doesn’t involve lots of paperwork or filing accounts. In fact, it’s about as simple as buying a few tines of beans. Here, Noyan reveals four ways to keep your finances safe. Cash is good to have on hand (Picture: Getty Images) Ensure your bank accounts are separate groups and networks Firstly, if you’ve only got one current account, it’s time to open another. ‘Having a second account is sensible,’ Noyan says. However, be careful which bank that second account is with. Ask Metro Use AI to go deeper into the stories you care about – powered by Metro and trusted publications. ‘Most people don’t realise that a second account with a sister brand gives you very little protection.’ ‘For example, Halifax, Lloyds and Bank of Scotland all sit within the same group, as do NatWest and RBS, and they often share the same systems. ‘If one goes down, the others can go down with it.’ As such, Noyan advises: ‘Your backup account should be with a completely separate banking group, and ideally with a card on a different network: one Visa, one Mastercard. ‘Then a single outage can’t lock you out of everything.’ How do I open a second current account? There is no legal limit to how many current accounts you can hold in the UK. Most banks allow you to apply online, via mobile banking apps, or in-branch. Typically you will be required to provide a form of ID and proof of address. Make sure to check eligibility and age requirements, as well as fees and other rules before opening the account. These can be found on the bank’s website or by visiting in-store. Have enough cash to last at least a week With talks of hacking and cyber attacks, you’re probably wondering if you start shoving wads of cash down the side of the radiator and into your biscuit tin. ‘You don’t need a mattress full of money,’ Noyan reassures, but he advises a ‘sensible buffer cover around a week of essentials like food, fuel and medicine. ‘For most households, this is somewhere between £100 and £300. ‘Keep it in smaller notes and coins, because in an outage nobody will have change for a £50.’ But don’t have more than you actually need. ‘Cash at home isn’t protected like money in the bank, and many home insurance policies cap cash cover at a few hundred pounds.’ Noyan also says it’s worth writing your bank’s deatils down. He says: ‘Keep a paper note of your banks’ phone numbers and your account details. ‘If your phone or the internet is down, the app won’t help you.’ Work out how much you need for a week (Picture: Shutterstock / jd8) Ensure your money is protected If you’ve got a lot of savings, you’ll want to make sure they’re protected. Noyan warns: ‘Check that your savings at any one banking licence stay within the £120,000 FSCS protection limit.’ The expert is referring to the maximum amount of money — £120,000 — that the Financial Services Compensation Scheme (FSCS) will pay someone, per bank, if that firm were to go out of business. He also warns to ensure that each of your bank accounts has some money set aside, to pay regular outgoings. If one of your accounts is down, the other should have enough in it to pay. ‘Missed direct debits during an outage are usually sorted out afterwards, but it’s far less stressful if you’re not cutting it fine.’ Look out for scammers Unfortunately, in terms of chaos, there will be those looking to take advantage. ‘Fraudsters thrive on disruption,’ Noyan cautions. ‘When a bank has an outage, criminals start calling customers pretending to help. While it’s useful to be able to spot some of the usual tactics of scammers, emergency situation or not, Noyan reminds us: ‘Your bank will never ask you to move money to a “safe account”. Deals of the Day 14,500 five-star reviews later, this cult sleep spray is discounted for Black Friday The Orlando holiday deal Disney fans shouldn't miss We're adding this discounted NEOM gift set straight to basket Want an LED face mask for less? This Black Friday deal could save you hundreds This teeth whitening sale could save you up to 64% before Black Friday ‘If anyone does, hang up and call the number on the back of your card.’ Do you have a story you’d like to share? Get in touch by emailing MetroLifestyleTeam@metro.co.uk Arrow MORE: I’m an expert prepper — here’s what the government’s stockpiling list misses Arrow MORE: Andy Burnham says Brand victims will ‘change the system’ with their bravery Arrow MORE: I’ve just inherited £900,000 — is it wrong not to tell my kids? The Sunday Edit Look beyond the headlines with exclusive articles, emotive interviews and must-read explainers from our expert team of reporters across news, lifestyle and entertainment.