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  • FIRST POST
    • MSE Luke
    • By MSE Luke 11th Oct 16, 11:06 PM
    • 182Posts
    • 41Thanks
    MSE Luke
    MSE News: Halifax and Lloyds to slash rewards and interest on flagship accounts
    • #1
    • 11th Oct 16, 11:06 PM
    MSE News: Halifax and Lloyds to slash rewards and interest on flagship accounts 11th Oct 16 at 11:06 PM
    Two of the country's best-paying current accounts will dramatically cut the interest and rewards they pay...
    Read the full story:
    'Halifax and Lloyds to slash rewards and interest on flagship accounts'

    Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
Page 2
    • Consumerist
    • By Consumerist 12th Oct 16, 8:56 PM
    • 4,450 Posts
    • 2,207 Thanks
    Consumerist
    £3k - £5K.
    Originally posted by YorkshireBoy
    Thanks for the correction YorkshireBoy.

    Incidentally, you can have up to three BoS Vantage accounts, if I remember correctly.
    Warning: In the kingdom of the blind, the one-eyed man is king.
    • Anthorn
    • By Anthorn 18th Oct 16, 5:23 PM
    • 2,511 Posts
    • 644 Thanks
    Anthorn
    Oh come on, banks need our support. Give them 20 quid a month and stop complaining about them all the time.
    Saving for Xmas 2017 - A pound a day - 30/365

    Just because you're paranoid doesn't mean that someone isn't out to get you

    Unsliced bread: You can have it any thickness you want! The wonders of modern technology.
    • Mr K
    • By Mr K 18th Oct 16, 5:37 PM
    • 1,064 Posts
    • 634 Thanks
    Mr K
    will be closing Halifax reward, seemed a bit ridiculous to be transferring £750 back and for for a fiver, for £3 cba.
    • Consumerist
    • By Consumerist 18th Oct 16, 9:59 PM
    • 4,450 Posts
    • 2,207 Thanks
    Consumerist
    will be closing Halifax reward, seemed a bit ridiculous to be transferring £750 back and for for a fiver, for £3 cba.
    Originally posted by Mr K
    If the transfers are automated standing orders then you don't have to do anything to get the money so I don't think I'll be closing mine just yet. The £3 pm is equivalent to earning around 3% pa on a balance of £1,200 which I don't keep in the account.
    Warning: In the kingdom of the blind, the one-eyed man is king.
    • YorkshireBoy
    • By YorkshireBoy 18th Oct 16, 11:08 PM
    • 28,346 Posts
    • 16,145 Thanks
    YorkshireBoy
    If the transfers are automated standing orders then you don't have to do anything to get the money so I don't think I'll be closing mine just yet. The £3 pm is equivalent to earning around 3% pa on a balance of £1,200 which I don't keep in the account.
    Originally posted by Consumerist
    Mine are manual transfers. Reward 1 receives my salary, so on payday I bounce funds through Rewards 2, 3 & 4 and back again. Takes less than a minute a month. Reward payments are automatically withdrawn by the requisite DDs. £240 a year was a nice return, but £144 a year from next year is still worth having. Wish my day job paid £720 an hour!
    • Consumerist
    • By Consumerist 18th Oct 16, 11:33 PM
    • 4,450 Posts
    • 2,207 Thanks
    Consumerist
    Mine are manual transfers. Reward 1 receives my salary, so on payday I bounce funds through Rewards 2, 3 & 4 and back again. Takes less than a minute a month. Reward payments are automatically withdrawn by the requisite DDs. £240 a year was a nice return, but £144 a year from next year is still worth having. Wish my day job paid £720 an hour!
    Originally posted by YorkshireBoy
    Now, that's the way to do it boys and girls.
    Warning: In the kingdom of the blind, the one-eyed man is king.
    • YorkshireBoy
    • By YorkshireBoy 18th Oct 16, 11:48 PM
    • 28,346 Posts
    • 16,145 Thanks
    YorkshireBoy
    Now, that's the way to do it boys and girls.
    Originally posted by Consumerist
    There is a better way, and one which is operated by another regular on here (won't name him but if he sees this he may comment), and that requires overdraft facilities on all accounts so internal SOs are still met with no/little funds in the accounts. Now that is a zero maintenance set up!
    • adindas
    • By adindas 19th Oct 16, 5:45 PM
    • 2,869 Posts
    • 1,286 Thanks
    adindas
    will be closing Halifax reward, seemed a bit ridiculous to be transferring £750 back and for for a fiver, for £3 cba.
    Originally posted by Mr K
    If you have Bank of Scotland Vantage accounts paying 3% interest, you could do it simultaneously by permutation of a manual transfer among all of your BOSs and Halifax Reward accounts on the same day. Either you open Halifax or BOS Internet banking, you will see all of this ac on the same screen.

    You will need to cream the interest of your BOS each month anyway.
    • Maximum Saving
    • By Maximum Saving 30th Oct 16, 10:07 PM
    • 151 Posts
    • 265 Thanks
    Maximum Saving
    I have a Halifax Reward Account and I am disappointed it will have just a £3.00 reward each month. I also have a TSB Classic Plus Account and am sad it will go to 3% interest with a maximum amount of £1500. I will think carefully next year when these events happen.
    • Consumerist
    • By Consumerist 30th Oct 16, 11:34 PM
    • 4,450 Posts
    • 2,207 Thanks
    Consumerist
    . . . I will think carefully next year when these events happen.
    Originally posted by Maximum Saving
    Or you could jump now into, say, Co-operative Bank and get a £150 switching bonus plus £4 pm for 4 direct debits and £800 pm deposits.

    Offers like this may not be around next year.
    Warning: In the kingdom of the blind, the one-eyed man is king.
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