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

rb10

jennifernil wrote: »

I have done similar and set up standing orders moving the £1000 from a low interest rate websaver to new reward account no 1, then onward to no 2 , 3, 4 and 5, and then back to the websaver. Account no 6 is our old HICA now changed to a reward account, but it already has our pensions going into it so needs no extra funding.

The first run of this will be in March. I have spaced the SOs 4 days apart, but may reduce that once I see how it goes, to minimise the loss of interest on the websaver.

Ditch the websaver. Instead, open a Bank of Scotland Instant Access Savings Account, with a much higher rate. It's very similar to the websaver, with unlimited deposits/withdrawals, and gives instant transfers to/from your current account.

As all your standing orders are internal, there's no need to have so much space between them, as internal standing orders go 7 days a week, regardless of weekends or bank holidays. So you could set them up for consecutive days.

456789

rb10 wrote: »

Ditch the websaver. Instead, open a Bank of Scotland Instant Access Savings Account, with a much higher rate.

Interesting that that account is on http://www.bankofscotlandhalifax.co.uk/savings/comparealloursavingsaccounts.asp but not on http://www.halifax.co.uk/savings/comparealloursavingsaccounts.asp as the rest of the accounts appear to be the same

Mikeyorks

rb10 wrote: »

Ditch the websaver. Instead, open a Bank of Scotland Instant Access Savings Account, with a much higher rate.

I can't get used to this new speak ..... where 1.5% is genuinely 'a much higher rate'.

I'll be lost when my 7.05% / 6.25% and 5% accounts grind to a close!

jennifernil

rb10 wrote: »

Ditch the websaver. Instead, open a Bank of Scotland Instant Access Savings Account, with a much higher rate. It's very similar to the websaver, with unlimited deposits/withdrawals, and gives instant transfers to/from your current account.

As all your standing orders are internal, there's no need to have so much space between them, as internal standing orders go 7 days a week, regardless of weekends or bank holidays. So you could set them up for consecutive days.

I will alter the dates later, this is just a trial run.

the websaver is paying 2.3% at present, I don't keep much in it, just emergency cash.

I do have a BOS IASA too, but as said above, it only pays 1.5%, so it only has £1 in it at present!

Like Mike I will be lost when my 6.5% accounts end in August/September/October.

D1zzy

Grade_A_Reject wrote: »

Not sure I'll ever have to pay it but seeing as I've now got 3 Reward accounts I'm sure as hell going to enjoy my free £15 a month.

I can't remember the maximum number of accounts you can hold. Is it 3 or 4?

Wish I'd realised u could have more than 1! Husband and I 3 accounts each - cycle 1000 between the 6 accounts free £30 per month for a £1000 investment

rb10

jennifernil wrote: »

the websaver is paying 2.3% at present, I don't keep much in it, just emergency cash.

I do have a BOS IASA too, but as said above, it only pays 1.5%, so it only has £1 in it at present!

Like Mike I will be lost when my 6.5% accounts end in August/September/October.

Ah, you have one of the Websaver Rewards. Once the Reward bit ends you'll see that you will want to go back to the BOS IASA, assuming their standard rate doesn't make huge leaps forward!

gelato_cat

I kept my HICA open and then opened another three Halifax Reward CAs. These went through no problem and I funded them with £100 each. I then decided to use £3k I was previously storing up to do the £1k thing, so they each have £1k in them now. The £3k is going to pay a credit card bill and with the way interest rates are now I don't really mind leaving it in the CAs for a couple of days.

Tried to open a BoS account and got the "application decision" thing, although they have allocated me a sort code and account number. Think I'll disregard that one until they confirm I can have it!

Suze

YorkshireBoy wrote: »

Well, they've reached a decision of sorts...they've "closed" BoS accounts 2 and 3 (before they were even opened). :rotfl:

R00STER00

I was an existing customer who had my account transferred to the reward acc. I applied for the extra accounts online and they are now showing as opened. However, online it says the original one is "Bank of Scotland Reward Current Account" but for the others it just has "Bank of Scotland Current Account".

Does anyone else have this or is this a different type of account?

jennifernil

rb10 wrote: »

Ah, you have one of the Websaver Rewards. Once the Reward bit ends you'll see that you will want to go back to the BOS IASA, assuming their standard rate doesn't make huge leaps forward!

ummm...........you are probably right, I will need to dig in my folder to find the paperwork! I opened it last July, is it just for a year?

It doesn't say "reward" on it, but then I do find the way HBOS name their accounts really confusing.

I will keep an eye on the interest rate.

cash-magnet

Be kind please - virgin poster here.

Hello everyone,

I tried opening 6 of these accounts online, but got the 14 day notice on the last 4. I do have the first accounts opened for halifax and bos and they are both partially funded with £101, but due to the unaceptable delay the banks continue to impose on moving our money around, it looks like the £900 to each will not clear by the end of this month to qualify for my £10.

Alliance&Leicester seemed to have waited till I'd done the transfers before their email arrived saying their T&C's have changed and there is now a £250 limit on any faster payments made.

So it seems the banks have won another round from me in the controlling game with my money.

Plenty of tricks left to play though. :cool: