Halifax reward account online now, and the old accounts....

Mikeyorks

emma396 wrote: »

so u converted HICA into reward? i tried doing that today, but was told it was not possible.....

It's definitely possible (if that's not a contradiction). Did a joint and singleton one, with no problem other than being cut off just after all the security done.

Ring the dedicated number ..... will add the link in one minute.

It's at the bottom of the 'Apply Now' tab :

http://www.halifax.co.uk/bankaccounts/reward-current-account.asp?!!!!!hpc_pos1_Banking

rb10

Mikeyorks wrote: »

I was then converting a couple of accounts ...> Reward, over the 'phone on the 10th. And asked the lad, tongue in cheek ... 'can I file an R85 on the wife's account'. When he replied 'yes' .... I asked if he was sure as Halifax are at pains to promote the fact this is a cash payment ... and not interest? He asked a colleague ... came back with a further 'yes' .... then, prompted again, went to ask a manager.

And came back with the lovely reply 'yes you can ..... but not with us .... you have to use an R40'! So as it was 5 minutes to his shift end, and he didn't want to pick up another call, I explained that the real answer to give is 'no you can't'. 'You have to wait until the year end and then claim back from HMRC with an R40'.

Bless. Made me feel useful ... and he was very pleasant .... but, I suspect, none the wiser as he departed. But they really should be better trained .... ?

You're just out to cause trouble, aren't you! :rotfl:

A.Jones

Re: paying £1000 into the account and moving it out the same day.

I think there is an easy way to check if this works, at the same time guaranteeing that you will not lose the £5 if it doesn't.

Pay £1000 into the account, and move it out the NEXT day. A couple of days later pay another £1000 into the account and move it out the SAME day. At the end of the month, check how much has been paid into the account. My HICA statement tells me how much money has been paid in per month, as well as the top payments. If both £1000 payments appear in the top payments, and the total payment into the account is £2000, then you are safe in knowing that you can transfer the money out on the same day. If only one £1000 transfer shows up, and the total payment into the account is £1000, then you know you cannot transfer out the money on the same day. Either way, you still get the £5 "interest" payment since you paid in £1000 that month.

A.Jones

10_66 wrote: »

I think they might have rumbled what everyone's doing now, because when we queried why husband's 3rd was declined we were asked if we'd only opened 3 each to gain from the £5 from transferring the £1,000 into them. I said if they're prepared to offer the facility, then they shouldn't be surprised when people take advantage of it.

What other reason is there to have three identical current accounts with the same bank? What do they expect.

bristolleedsfan

A.Jones wrote: »

Re: paying £1000 into the account and moving it out the same day.

I think there is an easy way to check if this works, at the same time guaranteeing that you will not lose the £5 if it doesn't.

Pay £1000 into the account, and move it out the NEXT day. A couple of days later pay another £1000 into the account and move it out the SAME day. At the end of the month, check how much has been paid into the account. My HICA statement tells me how much money has been paid in per month, as well as the top payments. If both £1000 payments appear in the top payments, and the total payment into the account is £2000, then you are safe in knowing that you can transfer the money out on the same day. If only one £1000 transfer shows up, and the total payment into the account is £1000, then you know you cannot transfer out the money on the same day. Either way, you still get the £5 "interest" payment since you paid in £1000 that month.

We look forward to you posting the results. :T

Grade_A_Reject

YorkshireBoy wrote: »

It's 3, and any combination of sole and joint accounts.

I'm opening 3 this month, and then intend to convert my HICA next month in the hope that I can sneak in a 4th Reward account.

£240 a year for doing virtually nothing. Easy money!

I was surprised to see today that the third application for a Reward account I made on Sunday that was showing as "review" status has now gone live. The Moneyback account that I also held previously has been converted to a Reward account so I now have 4 of them held in my sole name so it does appear to be possible.

Grade_A_Reject

A.Jones wrote: »

Re: paying £1000 into the account and moving it out the same day.

I think there is an easy way to check if this works, at the same time guaranteeing that you will not lose the £5 if it doesn't.

Pay £1000 into the account, and move it out the NEXT day. A couple of days later pay another £1000 into the account and move it out the SAME day. At the end of the month, check how much has been paid into the account. My HICA statement tells me how much money has been paid in per month, as well as the top payments. If both £1000 payments appear in the top payments, and the total payment into the account is £2000, then you are safe in knowing that you can transfer the money out on the same day. If only one £1000 transfer shows up, and the total payment into the account is £1000, then you know you cannot transfer out the money on the same day. Either way, you still get the £5 "interest" payment since you paid in £1000 that month.

It's a shame that Halifax only allow faster payments up to £500 so the £1000 would need to be moved out in two separate transfers.

apt

But you could use instant internal transfers of £1,000 between your numerous Halifax current accounts. Anyway they'll be slashing the £5 payment soon enough.

Pitchshifter

I don't see why one would have to leave the £1000 in the account for any length of time. As soon as my salary gets paid into my HICA it gets chopped up and distributed far and wide, between various savings accounts and DDs, thats what a current account is for. Therefore if you wanted to do an instant transfer in (to the reward acc), then 1 minute later, an instant transfer out, that is your choice. It's what I will be doing. I'm very surprised you can have more than 1 account in your sole name, but if it's allowed then gimme more!

6000% annual interest on the £1 that will be kept there (assuming that's the min requirement).

johnmoney05

£1000. One day interest, even in the highest saving account today, how much will it be? Better off, just leave it overnight...save so much thinking!