The Bank Engine

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How to actually make money online

Whenever you Google "how to make money online" you are often met with numerous dodgy websites, targeted adverts, and a whole host of scams.

Even once you have managed to battle through the rubbish, you are left with survey sites that will pay you 50p for an hour of your time. This is something, but you should really value your time at a higher amount.

This isn’t how it has to be. In 2021, I made £1,000s simply using the internet and my laptop, and I am not alone as nearly one hundred people who follow The Bank Engine on Instagram made an average of £250+ each last year using my tried and tested methods.

Spill the beans

As lovely as it would be for there to be a magic money printing machine, it isn’t quite as straightforward as that. However, I have decided to give a background on my most successful online revenue streams.

Matched Betting - £1,000+

One that you have either heard about and thought was a scam or something that has just made you screw your nose up in confusion.

Essentially, matched betting is a way of taking advantage of promotional offers given by online betting sites. We are able to ensure that we make a guaranteed profit from betting on both outcomes of an event.

It initially sounds quite confusing, and this is why I would recommend using a paid-for-software such as ProfitAccumulator.* 

I have tried the cheaper versions, and the free online calculators, and honestly they don’t even come close. ProfitAccumulator provides a full list of offers weekly, an interactive forum, tutorial videos for almost every offer, and will even refund your first month’s fee if you don’t make a profit. There’s almost no reason to not have a go!

Want a little bit more information before you give it a go? Understood. That is why we have created a 6-page free guide on matched betting for you here.

Sign-up offers - £100s

Every business has a customer acquisition cost; this is how much they would be willing to spend on advertising in order to win a new customer. In 2022, many businesses are keen to just pay this cost straight to the customer as a bribe for signing up for their service.

Usually, this kind of offer is provided by those businesses within the finance space. However, there is a lot of money to be made by simply doing sign-up offers.

Some of my personal favourite offers are:

Freetrade - Get a free share worth £3-£200 for opening an account and depositing £2*

Coinbase - Get £70+ for opening a new account via TopCashback*

Circa5000 - Get £15 to invest for opening an account and depositing £5*

I have handpicked a number of these offers to feature on our website, and you can explore these here:

Bank Switching - £100s

Effectively just another version of the above, banks are willing to pay the big bucks to move you to them from one of their competitors. Whilst this is common practice, and is a great way to get some extra cash for moving banks, what if you don’t want to switch banks?

Well, luckily for you, you don’t have to switch banks as long as you meet their terms and conditions.

As long as you aren’t too worried about your credit score, for the time being, you can open a new account, set up direct debits, and then switch this brand new account just to get the bonus!

I made £355 in 2021 for switching 3 bank accounts without having to close a single one of my old ones. Check out this old blog discussing the methods of my madness!

Check out the best offers on the market right now.

Referrals - £???

This one really depends on how many people you know and how persuasive you can be!

As well as businesses shelling out cash to new customers, they will often pay you if you can convince your friends and family to sign up for their service.

Again, this tends to be heavy in the finance sector but can be profitable wherever ‘refer-a-friend’ schemes exist.

The best way to approach this is to have a look through our offers that we included in the ‘sign-up’ section above, complete the offers yourself and then use your own referral links to invite your friends.

Here are some of our suggested referral offers.

Cashback - £???

This list may seem endless, but there are just so many different ways to make money online!

You might have often thought that you have to spend money to make any money from cashback offers, but this isn’t always the case. Particularly when looking at the Coinbase offer, you literally just need to open an account and then you can get £30 of cashback in 6 weeks’ time.

There are lots and lots of offers on both TopCashback* and Quidco* like this, so be sure to have a look!

Here is a list of some of the best cashback offers where you don't have to spend a penny!

Start a business - £Unlimited

There are billions of people accessible at your fingertips. All you need is an idea and a passion to succeed, and you can turn anything into an online business.

Whether it be a small Etsy store, a drop-shipping website, a blog, a YouTube channel, or a marketing agency; there has never been a better time to start an online business.

Conclusion

I could go on and on forever, but the internet is one of the greatest gifts we have been given. There are hundreds, if not thousands, of ways to make money online.

As I progress with boosting my income, I will begin to discover more ways and will share these with you. But for now, this is a showcase of all of my favourite ways to actually make money online.

So can you make money online? Absolutely.

Thomas, The Bank Engine