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Now that you can recognise what premium phone numbers look like how about we tell you how you can make some money from setting one up for yourself?

In the past, premium numbers were used by marketing companies running competitions as a way to generate revenue and to pay for the ‘prize’ (often for a phone-based competition), while businesses saw them as a way to increase their margins by charging customers to call.

Premium rate numbers generally begin with 09, 118, 0871, 08.

To help you get a better understanding of premium phone lines see Phonepay Plus’s guide.

Moneymagpie: In your opinion how easy is it to make money from premium phone lines? As long as you give the 08 number to all the companies you deal with and never give them your normal landline number.

Then each time they sell on our data the 08 numbers gets used more and more. Moneymagpie: What are the problems you’ve faced if any?

To make money you can offer a service which people can pay to use, or you can can just use them to get your own back on cold callers and make them pay to call you – take a look at our interview with Lee Beaumont below to find out exactly how to do this.

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” as Phonepayplus (regulator) advise – you can not use 08 numbers just to make money.When a caller calls your number the charge of the call is added to their telephone bill.These charges are then shared between the network operator (typically BT) and the service provider – you.In 2009 the premium rate industry in the UK was estimated to be worth around £800 million – however strict regulation has been put into place over the last couple of years to try to weed out the cowboys.Recommended for you – Get your own back – cold call revenge!

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