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

bootman

I opened 2 Halifax reward accounts online yesterday, both saying will get a decision in 7 days, which is a pain as I hoped to be able to fund them before the end of the month.

I am a saver with them and have online access already. If the 2 go through fine I will then do my 3rd one and circulate £1000 between the 3 over each month

MiserlyMartin

Well I had a letter from BoS in Leeds saying that they have closed my new Bos Reward account because the T's & C's state that I can only have a maximum of 3 Reward Accounts. Seems like they are getting tough, so those of you that managed to open up 6 of them are lucky. Theres nothing to stop them closing them though later.

Andystriker

MiserlyMartin,

Did you already have 3 BOS Reward Accounts?

I have 3 BOS and 3 Halfax A/C's and I opened them in February and they are still open and running ok.

naijapower

Apologies is someone has already answered this - Do they run a full credit check for each account you apply to open. e.g. got one so far but intend to try for 5 more so as to have 3 hali and 3 bos.
If they do, would this not drastically affect ones credit score - 6 credit checks in matter of days all for bank accounts.
Sorry once again if this has bee dealt with but can't find it on this thread

masonic

naijapower wrote: »

Apologies is someone has already answered this - Do they run a full credit check for each account you apply to open. e.g. got one so far but intend to try for 5 more so as to have 3 hali and 3 bos.
If they do, would this not drastically affect ones credit score - 6 credit checks in matter of days all for bank accounts.
Sorry once again if this has bee dealt with but can't find it on this thread

They are very unlikely to miss out the credit search on subsequent accounts. Those searches are unlikely to have any long-term impact on your credit files, but it would be better to err on the side of caution if you were about to apply for a large loan, for example.

In any case, the vast majority here have failed to open 6 accounts. The only ones who were successful seem to have applied when the account was first launched and Halifax/BoS were not treating applications with the scrutiny they seem to be applying now. Personally, I'd leave it at 3 or maybe test the water with a 4th application.

MiserlyMartin

Andystriker wrote: »

MiserlyMartin,

Did you already have 3 BOS Reward Accounts?

I have 3 BOS and 3 Halfax A/C's and I opened them in February and they are still open and running ok.

No. I had 3 Halifax reward accounts and applied for a new BOS one. Opened it online using HBOS log in. A few days later it was closed by someone at the bank. They are entitled to do this I think.

dreamalive

I opened a reward current account two weeks ago, I paid in a thousand pounds yesterday and only got 8 pence interest credited.

I've been informed that this is because the reward is paid the month after you have credited your account with £1000 so does that mean that I shall receive the £5 some time this month?

Any ideas when they usually pay it - beginning or end of month?

LongTermLurker

dreamalive wrote: »

I opened a reward current account two weeks ago, I paid in a thousand pounds yesterday and only got 8 pence interest credited.

I've been informed that this is because the reward is paid the month after you have credited your account with £1000 so does that mean that I shall receive the £5 some time this month?

Any ideas when they usually pay it - beginning or end of month?

That sounds wrong, because you shouldn't get ANY interest - the reward account doesn't pay interest, it pays a flat £5 or nothing at all.

You should get your £5 in the next couple of days - mine hit it on 1 March.

opinions4u

LongTermLurker wrote: »

That sounds wrong, because you shouldn't get ANY interest - the reward account doesn't pay interest, it pays a flat £5 or nothing at all.

The interest will be for the period in the month that the account wasn't a Reward account.

LongTermLurker

opinions4u wrote: »

The interest will be for the period in the month that the account wasn't a Reward account.

I wondered that, but dreamalive said they'd opened a new reward account, rather than converted an old-style account. I know you don't get the fiver until you deposit £1000, but I wouldn't have thought they'd pay interest for the period up to you making the deposit would they?

Anyway, here's the definitive answer for dreamalive taken from my statement

Reward Payment: We'll give you £5.00 a month if you fund your account with £1,000 a month. The Reward Payment will be paid into your account before the 10th of each month.