halifax moneyback account

cloudstrife_2

Yes could point about the interview room, it certaintly would give some overzelous sales minded colleague too much opportunity!!!! hehe :-)

Cloud

Grade_A_Reject

I have just been looking at the "timeline" on the Halifax website. It says the first payment will be made on the 1st of March for deposits made in February. What is doesn't make clear is if payments made in the 1st week of February, i.e before the account is switched to the reward account, will count as a deposit or whether they would have to be made after the 8th to count.

I'm assuming that if the account was kept at a zero balance and £1000 transferred in from another non Halifax account then immediately back out again to the original account once the deposit was showing online using faster payments then this would still meet the funding requirements.

Compound_2

Grade_A_Reject, I think deposits at the beginning of February would count, but I can understand that it might feel safer to wait until after the switch (certainly transferring in and out using immediate faster payments is fine). What's less clear from the timeline is how interest accrued from the earlier part of the month is settled upon conversion.

uberzoldat

I rang Halifax today, and over the phone they switched my moneyback account to the HICA, assuring me that I would receive my moneyback so far accrued on the 16th February.

They also informed me that with the new Reward Current Account, there is no minimum time scale that the £1000 has to be in the account for. So I could pay in £1000 for just a few seconds and transfer it out again in order to qualify for the £5.

The (very helpful) chap on the phone also said that I could, in theory, open two Reward Current accounts, and do the same thing every month for both, thus gaining £10 a month.

So after the 16th Feb, I'll be going to apply for two reward current accounts....

Not sure in the meantime whether or not to switch to A&L for a while, or stick with the HICA. The chap on the phone assures me I would be paying about the same in interest in my (unfortunately well lived-in) overdraft.

YorkshireBoy

uberzoldat wrote: »

They also informed me that with the new Reward Current Account, there is no minimum time scale that the £1000 has to be in the account for. So I could pay in £1000 for just a few seconds and transfer it out again in order to qualify for the £5.

I'd be very careful with that one because I nearly fell foul of the FD £100 T&C's last year doing something similar (because the money hadn't resided in the account overnight it didn't 'register' on their systems).

So if you're 'playing the system' it's probably better to leave it in at least overnight (that's my plan anyway).

The (very helpful) chap on the phone also said that I could, in theory, open two Reward Current accounts...

He wasn't being that helpful, because according to the Reward T&C's you can have 3 of them (and 6 if there are two of you). That's (potentially) £360 a year.

Grade_A_Reject

YorkshireBoy wrote: »

according to the Reward T&C's you can have 3 of them (and 6 if there are two of you). That's (potentially) £360 a year.

You could do the Reward Account Hokey-Cokey with that many ...in out in out....

emweaver

Does anyone know when cashback for purchases made before the account changes will be paid?

mooomin

I think it's the 10th of February...

emweaver

YorkshireBoy wrote: »

I'd be very careful with that one because I nearly fell foul of the FD £100 T&C's last year doing something similar (because the money hadn't resided in the account overnight it didn't 'register' on their systems).

So if you're 'playing the system' it's probably better to leave it in at least overnight (that's my plan anyway).He wasn't being that helpful, because according to the Reward T&C's you can have 3 of them (and 6 if there are two of you). That's (potentially) £360 a year.

Do you know how I can open another? Cant find it online

YorkshireBoy

emweaver wrote: »

Do you know how I can open another?

Online, phone, or in branch...from February.

Cant find it online

http://www.halifax.co.uk/bank-accounts/reward-current-account/