halifax moneyback account

kerri_gt

Thanks Opinions4U, what you say does make sense, I am sure I am not the only one that has ended up living in my overdraft more than I'd like. Its more realted to unexpected one off but large costs that had to be made (like a second car in the household) than constant overspending each month. However, my resolution for 2009 is to ensure that I now get out of the overdraft by addressing my expenditure to save more and pay off my ramaining debts.

Luckily I have been accepted by A&L (though not 100% sure if they have matched my overdraft from HBOS - hope so) even so, I am quite happy with the additional £100 incentive to switch, even if it's only a partial overdraft match then I can clear my HBOS account quicker while my A&L is 0%.

I see some people have been critical of A&L customer service but my mum has been with them for years and has always found them very good.

I might well consider moving back to HBOS in a year once my debt is clear, depending on bank accounts available by then, I agree that £5 a month for not overspending is a good deal. Just not one many of us are in a position to take advantage of right now.

rb10

opinions4u wrote: »

HICA would escape those £1 or £2 a day charges, and while the overdraft rate is 19.5%EAR which is more than Moneyback, it isn't a million miles off market norm offered elsewhere.

HICA overdraft rate is 15.9% EAR if you pay in £1k+ per month. The higher rate is when <£1k/month is credited. http://www.halifax.co.uk/bankaccounts/interestrates.asp#Current_interest_rates_on_overdrawn_balances

Great post though!

cloudstrife_2

I can definatly confirm that you will not lose any Moneyback accrued to date if you switch accounts or close it for a new one. We have had the full instructions on what to do if we have a customer who decides the Reward account is not for them which includes how to do a manual moneyback payment.

Cloud

Kavanne

cloudstrife wrote: »

I can definatly confirm that you will not lose any Moneyback accrued to date if you switch accounts or close it for a new one. We have had the full instructions on what to do if we have a customer who decides the Reward account is not for them which includes how to do a manual moneyback payment.

Cloud

Will you be able to 'redesignate' from a current to a reward current online/over the phone or must it be done in branch?

If it's a joint account will both account holders have to go into the branch to make the change or just one?

Thanks

cloudstrife_2

You will be able to do it over the telephone, online I am not 100% sure on as I don't use it alot as I have my own personal bankers (i.e. the girls at work!!). If you get no luck with the normal telephone banking try giving your local branch a ring, I think in our branch we are even keeping hold of re-designation requests for some customers who want to move from HICA to Reward in Feb as the £5 will work out a better deal if in credit.

Cloud

Kavanne

Thanks, Cloud. It's just getting OH to go into a bank of any kind is like trying to move a stubborn donkey... 'oh, do we have to?' 'I'll just go and get a coffee and meet you back here' 'I need to go to HMV so while you do that...' lol! I always fail security on the phone as they ask me for a mysterious PIN which I am guessing they gave me when I first opened the account (age 14!!) lol but if I go straight through to the branch I shouldn't have that issue so fingers crossed.

cloudstrife_2

You should have no problems if you go into branch, just a signature is all we need for a re-designation, and if your lucky you might even get a free cuppa, now you have no excuse!!! Oh and your not the first and not the last of many who have to come into branch to reset telephone banking ;-)

Cloud

Kavanne

I can reset it in the branch!?! No one ever told me that... Cashier or info desk?

cloudstrife_2

Yes the only way you can reset your telephone banking is to visit a branch. You will need two forms of ID (Passport and Driving Licence, basically something for your name and something for your address). If your lucky enough to have an info desk in your branch go there as most counters in branches with info desks will just send you there. The staff member will call telephone banking and let them know what ID has been seen then you will go on the phone to provide your new details. If you rather be somewhere private to give out your new details just ask for use of an interview room, most big branches try and keep one free for on spec appointments.

Cloud

Kavanne

I won't go into an interview room, just in case I come out with a loan!

Thank you v much for the info