How many Halifax Current Accounts can you have?

Jay83
Jay83 Posts: 119 Forumite
in Budgeting & bank accounts
I was looking into the halifax reward current accoun which pays you the £5 every month you put in £1000. I already have a normal current account can i have both? or must i swap for the normal to the reward? i have a couple of DDs set up already and dont want to go through the hassel of swapping them over. Sorry if this has been asked before.

Comments

  • opinions4u
    opinions4u Posts: 19,411 Forumite
    You can have up to 3 Reward accounts and an additional Ultimate Reward account.

    Your existing account will probably become a Reward in December anyway.
    I already have a normal current account can i have both?
    Yes. For now!
  • LongTermLurker
    LongTermLurker Posts: 1,996 Forumite
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    edited 4 September 2009 at 8:06PM
    opinions4u wrote: »
    You can have up to 3 Reward accounts and an additional Ultimate Reward account.

    Your existing account will probably become a Reward in December anyway.

    Yes. For now!
    er, I thought it was a maximum of 3 accounts, for example two Reward and one Ultimate Reward (note the term for example)

    I don't recall hearing anyone say they had 4 £5-paying accounts, apart from those who managed to get 3 Halifax and 3 BOS accounts in the early days

    http://www.halifax.co.uk/bankaccounts/pdf/Halifax-Reward-Terms-and-Conditions.pdf special condition B
    You can hold a total of three
    Halifax Ultimate Reward Current Accounts
    and Halifax Reward Current Accounts. For
    example, one joint Halifax Ultimate Reward
    Current Account and two sole Halifax
    Reward Current Accounts.
    You've never seen me, but I've been here all along - watching and learning...:cool:
  • Callingjonny
    Callingjonny Posts: 7 Forumite
    If you swapped to reward it would make no difference to your DDs because if you are on the standard current account it would just be redesignated.

    From December if you have the standard current acct you will still be on this but it will fall into line with the same charging policy as the reward ie daily £1 fees.
  • LongTermLurker
    LongTermLurker Posts: 1,996 Forumite
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    As CJ says your existing account wouldn't be closed - if you pay in £1000pm, the best thing would be for you to phone up, ask them to upgrade it to the Reward account, then go online and apply for another 2. If you quickly shuffle the money online each month (about 10 - 20 seconds' work) you'll net £15 per month interest/reward.
    You've never seen me, but I've been here all along - watching and learning...:cool:
  • Milarky
    Milarky Posts: 6,355 Forumite
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    LongTermLurker wrote: »
    If you quickly shuffle the money online each month (about 10 - 20 seconds' work) you'll net £15 per month interest/reward.
    I'm not at all sure that will work - but then I haven't tried transfers between Halifax reward accounts to count as monthly credits so doing that may work. (I transfer 3 x £1000 out to First Direct - about 20 seconds each - and back again to each account separately - about another 20 seconds each. More like two minutes for £15 IME!)
    .....under construction.... COVID is a [discontinued] scam
  • LongTermLurker
    LongTermLurker Posts: 1,996 Forumite
    First Post First Anniversary Combo Breaker
    edited 4 September 2009 at 8:32PM
    Milarky wrote: »
    I'm not at all sure that will work - but then I haven't tried transfers between Halifax reward accounts to count as monthly credits so doing that may work. (I transfer 3 x £1000 to First Direct - about 20 seconds each - back again to each account separately - about another 20 seconds each. More like two minutes for £15 IME!)
    Oh it does, believe you me :cool: Been doing it since Feb/March iirc (only had 2 reward accounts then and converted my ordinary one a few months later).

    From the main page, you can do the quick transfer

    from a/c1 to a/c2 £1000
    from a/c2 to a/c3 £1000
    from a/c3 to a/c1 £1000

    KERCHING! :D
    You've never seen me, but I've been here all along - watching and learning...:cool:
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    LongTermLurker wrote: »
    er, I thought it was a maximum of 3 accounts, for example two Reward and one Ultimate Reward (note the term for example)

    I don't recall hearing anyone say they had 4 £5-paying accounts, apart from those who managed to get 3 Halifax and 3 BOS accounts in the early days

    http://www.halifax.co.uk/bankaccounts/pdf/Halifax-Reward-Terms-and-Conditions.pdf special condition B
    I look forward to the letter advising me of the closure of one of my accounts then ;)
  • Dagobert
    Dagobert Posts: 1,625 Forumite
    LongTermLurker wrote:
    If you quickly shuffle the money online each month ...
    Milarky wrote: »
    I'm not at all sure that will work - but then I haven't tried transfers between Halifax reward accounts to count as monthly credits
    Internal definitely transfers count towards the £1000. However, I think it's wise to have external pay-ins.
    Dagobert
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