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

breadwinners

Just glancing at the last few posts, I seem to have missed a trick here.
Could people save me from reading this very long thread?

Existing joint HHICA. What's best to do?
Change over to reward? If so when is best? End of month to allow this month's interest to be calculated?

Also worth opening accounts in sole name too? What exactly are they catching up with? What is alowed and what is not?
Thanks in advance.

aliasojo

I think George feels his latest application was declined because Halifax are realising people are just opening accounts solely to gain the £5 and are perhaps becoming a little stricter in the way they are dealing with new applications. (Sorry if I'm putting words in your mouth George.)

We have 6 accounts between us and OH's were opened in rapid succession only a few days ago, so I'm not sure I agree with George's thoughts. (IF indeed those were his thoughts that is. )

Becki1_2

Hi,

It doesn't matter what time of the month you open account the interest will be calculated up until the date you changed account.

You will only recieve £5 the next month if the £1000 was paid in after the account was changed to the reward,

In the answer to other posts it is 3 account including joint and sole accounts with halifax or bos not 3 per brand, yes they are catching on and can close additional accounts so be forwarned!!!

Andystriker

I opened 3 BOS and 3 Halifax accounts in February and I have received £30 in March and £30 in April, and at this moment in time, all 6 accounts are open and running fine.

Andy

Mikeyorks

breadwinners wrote: »

Existing joint HHICA. What's best to do?
Change over to reward? If so when is best? End of month to allow this month's interest to be calculated?

If it's the 'interest' you're after ..... then you switch to the Reward immediately. As you need to keep £40k permanently in a HICA (assuming the first £2500 is still 1.5%? .. I've lost track) to obtain the £75 gross the Reward pays. I doubt it's worth waiting for the interest?

northern_munky

Becki1 wrote: »

Hi,

yes they are catching on and can close additional accounts so be forwarned!!!

Well my accounts have been showing as 'not available' since Friday, can't move money in or out of them, I reckon they are going to close them soon. Trouble is I have £1000 in one of them and can't get to it

aliasojo

northern munkey...did any of your account have an overdraft? I'm wondering if there is any reason why some are being closed and others not?

northern_munky

aliasojo wrote: »

northern munkey...did any of your account have an overdraft? I'm wondering if there is any reason why some are being closed and others not?

No overdraft, so not sure what is going on, will see what happens in the next couple of days.

derrick

Becki1 wrote: »

You will only recieve £5 the next month if the £1000 was paid in after the account was changed to the reward,

Not true, I changed my account from the HICA to the Reward account after I had paid the £1000. into the HICA, I paid no more into the Reward account for the rest of the month an received 13p interest,(up to the date of change), plus the £5. Reward. I was told over the phone when I was changing that was how it would work, and that is how it did work.

Spellchecker maybe?;)

breadwinners

derrick wrote: »

Not true, I changed my account from the HICA to the Reward account after I had paid the £1000. into the HICA, I paid no more into the Reward account for the rest of the month an received 13p interest,(up to the date of change), plus the £5. Reward. I was told over the phone when I was changing that was how it would work, and that is how it did work.

Spellchecker maybe?;)

So contrary to what Mikeyorks says, it would make sense to keep £2500 in the HICA until near the end of the month before changing it over and dropping the balance right down to minimum. Right?

As an aside, am I the only one to not like seeing 'the following 1 users' when I've just thanked someone? Not the end of the world I know.