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

naijapower

Got my £5 reward on my first account. Though i am worried they may clamp down as soon as they see people are just moving funds in and out.
Surely, from the banks perspective, they can't be earning any money if the funds only stay in these accounts for just seconds.
In my opnion, the money would have to stay longer to make it worth their while otherwise 'our goose cook'.. i.e. they can clamp down

gingercordial

I've been away from this site and from "playing" with my finances for a while ;-) but saw the Halifax ad on the tube the other day and couldn't resist joining in again.

Set up Reward Account #1 yesterday with no hitches - I'm already a Halifax customer so was just via my online banking. Put in £1,000. I'm so glad I then came and found this thread, as the money disappeared today and I'd have been freaking out if I didn't know this was "normal"! I'm assuming it will be back tomorrow.

Also because of you clever people spotting the number of accounts you can have, I've opened accounts #2 and #3 today. They are showing as "Current Account" but seeing as #1 updated to "Reward Current Account" overnight I assume they will do the same. I'm toying with the idea of BoS accounts, and I will try to persuade my fiance to open at least one of these things.

£15 a month (so far) will go nicely towards my Halifax credit card!

10_66

RG101 wrote: »

I've recently opened 3 reward accounts with Halifax, yesterday i applied to open BOS reward account and had the application decision appear below the account, checked again this morning and I've been declined.

Could anyone tell me if they are clamping down on how many reward accounts you can have, or have i just been unlucky, would it be wise to try apply again any time soon or should i just be happy with the 3 reward accounts i have?

The same thing happened to me. I opened 3 Reward Accounts with Halifax mid February, which were all accepted (2 immediately, 1 next day). A couple of days ago, I applied for a BOS Reward Account and was declined. Husband tried for 3 Halifax Reward and only accepted for 2 of them, so we figured there was no point in him trying for a BOS one.

rb10

Moneysupermarket don't seem to know where to put this account. They still haven't updated the page here to show it. The HICA seems to have been removed, but the old 'Current Account' is still there, even though it's actually no longer available, and there's no sign of the Reward account.

harriko

Ive signed up for my first one a few days ago and got the paper work today. Then I fancied applying for another account and got this message at the end

"Unforunately we're unable to offer you a Reward Current Acount at this time, however you can apply for our Easycash account............"

"We'll send you a letter within the next 7 days confirming our decision"

Does it mean I cant get another one?

LongTermLurker

Mikeyorks wrote: »

Tell us all what your interest rate is .. again? I thought you left a wasteful extra £1 in!

Didn't want it to look like I was taking the p*** :rotfl:

LongTermLurker

harriko wrote: »

"Unforunately we're unable to offer you a Reward Current Acount at this time, however you can apply for our Easycash account............"

Does it mean I cant get another one?

I'd say that was a safe assumption. I have a theory that the number of accounts they let you open depends on what you state as your monthly income.

If you say you get £1001 a month after tax, they won't allow you to open more than one, but if you say £1900, they may let you open a second - just my theory - can anyone disprove it?

harriko

you maybe right.... I only put under 1000 because I am a student and dont pay taxes incase they chase me up.

RG101

LongTermLurker wrote: »

I'd say that was a safe assumption. I have a theory that the number of accounts they let you open depends on what you state as your monthly income.

If you say you get £1001 a month after tax, they won't allow you to open more than one, but if you say £1900, they may let you open a second - just my theory - can anyone disprove it?

I put for my earnings a £1000 a month for the three Halifax accounts, when it asked how i was funding the accounts the first i said by earnings, the second and third i said by savings and they all went through ok. The BoS account i applied for a couple of days ago wasn't having any of that though, application declined.
Can't say i'm suprised they are clamping down on it, it must be costing them a fortune, not that i have any kind of sympathy for any bank.

bristolleedsfan

LongTermLurker wrote: »

If you say you get £1001 a month after tax, they won't allow you to open more than one, but if you say £1900, they may let you open a second - just my theory - can anyone disprove it?

My net monthly income is below 1000 a month and Ive got three accounts albeit two were opened at a branch. Being a Homeowner, 15 years at same address with no morgage of course has its own significance.