Halifax Moneyback Current Account

mongrel57

I HAVE TODAY RECEIVED A LETTER FROM THE HALIFAX NOTIFYING ME THAT IN FEBRUARY INTEREST WILL NO LONGER BE ECRUED AS CASH BACK WHEN I USE MY DIRECT DEBIT CARD AND THEY WILL PUT INTO MY ACCOUNT 5.00 PER MONTH INSTEAD AS LONG AS I KEEP PAYING IN 1000.00 PER MONTH (WHICH I ALWAYS DO). THIS IS SO UNFAIR MY ANNUAL EARNINGS AND WHAT I PAY FOR WITH MY CARD ARE SMALLFRY COMPARED TO MOST BUT I DO MANAGE TO GET AROUND 200.00 CASH BACK EACH YEAR BY USING MY DEBIT CARD, AND FROM WHAT I UNDERSTAND ON THE LEAFLET I WILL BE CHARGED 1 POUND EVERY DAY I USE MY ARRANGED OVERDRAFT - DOES THIS MEAN I WILL PAY ONE POUND EVERY DAY MY ACCOUNT IS OVERDRAWN, CAN I FIGHT THIS OR DO ANYTHING AT ALL.............A VERY WORRIED SINGLE MUM:mad:

miniluke

mongrel57 wrote: »

I HAVE TODAY RECEIVED A LETTER FROM THE HALIFAX NOTIFYING ME THAT IN FEBRUARY INTEREST WILL NO LONGER BE ECRUED AS CASH BACK WHEN I USE MY DIRECT DEBIT CARD AND THEY WILL PUT INTO MY ACCOUNT 5.00 PER MONTH INSTEAD AS LONG AS I KEEP PAYING IN 1000.00 PER MONTH (WHICH I ALWAYS DO). THIS IS SO UNFAIR MY ANNUAL EARNINGS AND WHAT I PAY FOR WITH MY CARD ARE SMALLFRY COMPARED TO MOST BUT I DO MANAGE TO GET AROUND 200.00 CASH BACK EACH YEAR BY USING MY DEBIT CARD, AND FROM WHAT I UNDERSTAND ON THE LEAFLET I WILL BE CHARGED 1 POUND EVERY DAY I USE MY ARRANGED OVERDRAFT - DOES THIS MEAN I WILL PAY ONE POUND EVERY DAY MY ACCOUNT IS OVERDRAWN, CAN I FIGHT THIS OR DO ANYTHING AT ALL.............A VERY WORRIED SINGLE MUM:mad:

I called them, they don't seem to want customers anymore. yes it will mean £1 per day that you are overdrawn, or £2 per day if I used my full authporised overdraft limit!. Try Alliance and Leicester Premier account. I have just switched, I suggest everyone who has a moneyback account does, although I guess that this is whay Halifax want you to do.

rb10

Any chance of not using capitals in future? ... It makes the post very hard to read.

Mikeyorks

http://forums.moneysavingexpert.com/showthread.html?t=1284183

and, particularly :-

http://forums.moneysavingexpert.com/showthread.html?t=1351763

cheggers

mongrel57 wrote: »

I HAVE TODAY RECEIVED A LETTER FROM THE HALIFAX NOTIFYING ME THAT IN FEBRUARY INTEREST WILL NO LONGER BE ECRUED AS CASH BACK WHEN I USE MY DIRECT DEBIT CARD AND THEY WILL PUT INTO MY ACCOUNT 5.00 PER MONTH INSTEAD AS LONG AS I KEEP PAYING IN 1000.00 PER MONTH (WHICH I ALWAYS DO). THIS IS SO UNFAIR MY ANNUAL EARNINGS AND WHAT I PAY FOR WITH MY CARD ARE SMALLFRY COMPARED TO MOST BUT I DO MANAGE TO GET AROUND 200.00 CASH BACK EACH YEAR BY USING MY DEBIT CARD, AND FROM WHAT I UNDERSTAND ON THE LEAFLET I WILL BE CHARGED 1 POUND EVERY DAY I USE MY ARRANGED OVERDRAFT - DOES THIS MEAN I WILL PAY ONE POUND EVERY DAY MY ACCOUNT IS OVERDRAWN, CAN I FIGHT THIS OR DO ANYTHING AT ALL.............A VERY WORRIED SINGLE MUM:mad:

Thought the maximum casback was 1% for the 1st £10k spent on the card then 0.01% thereafter, you must be spending £200k a year to get £200 cashback.

I'm nearly at £90 cashback to date as I bought a car and holiday this year. When will I get my cashback payout now?

Going to switch banks as the new £1 a day overdraft will kill me I am £300 to £600 overdrawn at least 15 days a month cost me on average £1.70 a month, now going to cost me £15 a month.

Some clever guy in marketing has just lost a Halifax customer of 20 years now, moving to abbey (and I will get £100 for opening an account)

rb10

cheggers wrote: »

I'm nearly at £90 cashback to date as I bought a car and holiday this year. When will I get my cashback payout now?

Your accrued cashback should be paid after the switch-over to the Reward account in February.

opinions4u

mongrel57 wrote: »

I HAVE TODAY RECEIVED A LETTER FROM THE HALIFAX NOTIFYING ME THAT IN FEBRUARY INTEREST WILL NO LONGER BE ECRUED AS CASH BACK WHEN I USE MY DIRECT DEBIT CARD AND THEY WILL PUT INTO MY ACCOUNT 5.00 PER MONTH INSTEAD AS LONG AS I KEEP PAYING IN 1000.00 PER MONTH (WHICH I ALWAYS DO). THIS IS SO UNFAIR MY ANNUAL EARNINGS AND WHAT I PAY FOR WITH MY CARD ARE SMALLFRY COMPARED TO MOST BUT I DO MANAGE TO GET AROUND 200.00 CASH BACK EACH YEAR BY USING MY DEBIT CARD, AND FROM WHAT I UNDERSTAND ON THE LEAFLET I WILL BE CHARGED 1 POUND EVERY DAY I USE MY ARRANGED OVERDRAFT - DOES THIS MEAN I WILL PAY ONE POUND EVERY DAY MY ACCOUNT IS OVERDRAWN, CAN I FIGHT THIS OR DO ANYTHING AT ALL.............A VERY WORRIED SINGLE MUM:mad:

You could switch to their HICA or URCA account before the switchover date.

Strawberry_virgin

“We are constantly looking to improve our products and services” reads the first line of their letter. What exactly is improved? I am not so much bothered about the reduced £60 cash back as opposed to just over £100 before (although it the least they can do considering poor interest rate on the current account balance), but the new overdraft rules. They know exactly that during these difficult times more and more people are having to use facilities like overdraft to make their ends meet and yet they are trying to cash in on it and make it even more difficult. Under the new proposals you will pay overdraft fee of £1 per day for an arranged overdraft up to £2,500 but the charge will remain the same irrespective of the amount overdrawn. So, you could go £1 overdrawn and still pay them £1 fee for each day overdrawn. Sorry, but you got this one wrong HBOS! I can’t tell you how many times I have gone into overdraft by accident when a large bill comes in, only to find my partner had spent some of the money allocated the day before (the joy of joint account). And it didn’t matter because the interest on that amount would usually be pence. Now, it could be £5-£10 before I find out each time. And let’s face it; they will not be rushing to get the letter out or an E-mail to warn you of this.

I am changing my account this weekend and thinking of Alliance and Leicester Premium Direct Current Account;

-£50 cashback for opening account (thank you Quidco)
-6.5% AER on balances up to £2,500 (first 12 months, after that linked to BOE base rate less 1%)
-0% on arranged overdraft up to £2,500 and no fees (first 12 months, after that still 0% but 50p daily fee up to maximum of £5.00 per month)
-Plus other Premium rewards

It certainly looks better than HBOS.