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

jennifernil

we are existing HBOS customers with a joint High Interest current account. last week I opened one of the Reward current accounts no problem, transferred £100 into it. hubby also tried to open one but his originally came up as just a current account and would not allow funding, after a day or two this came up as the reward CA and he deposited £100 by transfer.

we then changed our HICA to a reward account in our branch.

I then did a second application, which came up as "application decision", but after 2 days was opened.

I then tried for a BOS Reward CA, again this went to "application decision", but today is up and running. hubby also managed to open a second Halifax one, so we now have one joint and 5 individual accounts in place.

just waiting for the £1000 from another account to bounce around among the individual ones, the joint one is our main account.

If it all works we will get £60 reward for our joint account, and another £300 from moving the £1000 around the 5 individual ones.......more if hubby can open another account!

not a bad return!

withnell

10_66 wrote: »

I can't understand why he told you that, because I transferred £100 into each of my new Reward accounts from existing HICA online, and the transfers went through straight away.

Mine went through straight away on Sunday - as of this morning (Tues) the transfer in was no longer showing.

withnell

medic1978 wrote: »

That's strange- On the final page of the account opening page it gives you various options of crediting £100: i.e. transfer from existing halifax account/from third party account/cheque in the post/deposit cash or cheque over the counter.

Didn't say anywhere that the first credit MUST be over the counter.... Did your £100 re-appear in the account itself after a few days or did you go into a branch to deposit money before it happened?

It disappeared this morning. I know the manager fairly well in the branch, and she was quite bemused about why it gives the BACs details, as central clearing services say its not an acceptable initial funding method!

It may just be a restriction on FP's from an external account though.

fluffysox

10_66 wrote: »

There's no rhyme or reason to the way they're permitting or declining these accounts. Husband & I have joint High Interest Current Account with them. We each applied for 3 sole Reward Current Accounts. My 3 were accepted, but only 2 of husband's were. Letter from Halifax says his credit score wasn't high enough, which is unlikely. Customer Relations have looked into it and said it's because with the 2 new Reward Accounts and the existing HICA that was his full quota, but that doesn't explain them allowing my 3. Basically, I think it depends on how the computer's feeling when the applications are being processed.

:rotfl: :rotfl: :rotfl: :rotfl: computers with moods- lol- it all makes sense now:rotfl: :rotfl: :rotfl:

fluffysox

withnell wrote: »

It disappeared this morning. I know the manager fairly well in the branch, and she was quite bemused about why it gives the BACs details, as central clearing services say its not an acceptable initial funding method!

It may just be a restriction on FP's from an external account though.

I did not spot this in the T+Cs. I transferred money from my current account by online banking as soon as I got the account details:eek: - keep us posted on what happens.

10_66

withnell wrote: »

Mine went through straight away on Sunday - as of this morning (Tues) the transfer in was no longer showing.

Very strange, as I say there doesn't seem to be any consistency with these accounts. My £100 transfers went in straight away, and stayed there. No disappearing act at all.

pokey

Re-Halifax reward current account (not the one with monthly fee) I had a high interest current account with Halifax that was no longer high interest. My monthly interest payment had fallen from £8 ish to less than £2 so I switched to the new reward account and now get £5.00/month from the same average balance...Result.

This is perfect for anyone who has the £1,000.00 a month coming in but never, never goes into overdraft as this is charged at £5.00/day.

If anyone is put off changing by thinking that account numbers change or pin numbers/direct debits s/o need to be swopped they dont. Nothing changes but the name of the account and the interest paid in !!!

Best to All.

Pokey.

Calchas

pokey wrote: »

This is perfect for anyone who has the £1,000.00 a month coming in but never, never goes into overdraft as this is charged at £5.00/day.

Best to All.

Pokey.

Thank you Pokey.

You endorse what seems to be the general consensus.

As far as the overdraft is concerned, is it as simple as that?

From memory, there are charges of £1 per day, £2 per day and £5 per day depending what the overdraft amount is and whether it is kept to.

Like you, I don't intend to use it so what I have written might not be as exact as it should be.

KTF

The full overdraft details with the Reward account are:

Do you know how much interest you pay if you go overdrawn? Not many people do, so we're keeping things simple. We'll use a fixed daily fee that's easy to track. Staying in control of your finances has never been simpler.
Here’s how our Reward Current Account works:
If you...
then we’ll charge you...
use an arranged overdraft up to and including £2,500
£1 a day
use an arranged overdraft over £2,500
£2 a day
use an unarranged overdraft
£5 a day
With a Reward Current Account you won’t have to pay any other fees if you go overdrawn, so you need never worry. It makes perfect sense. What's more, we won't charge you any fees, as long as you pay in enough money to bring your bank account back into credit by the end of the day. As we charge fees on this account instead of interest, the typical rate is 0% EAR.

From: http://www.halifax.co.uk/bankaccounts/reward-current-account.asp

medic1978

Well, my £100 is now showing back in the account.
Thinking of opening another...

I have about 5 current accounts altogether. Not sure about opening another 2 Halifax ones although it is very tempting.

Those of you that have multiple Halifax accounts, are there any implications of the same £1000 cycling through all of them? Does it appear "dodgy"?! e.g what would tax man make of it (although the initial £1000 is from salary but transferred from my main account)