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

derrick

breadwinners wrote: »

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

Not if you can get a better rate elsewhere, as the HICA is paying 1%,(?).

breadwinners

derrick wrote: »

Not if you can get a better rate elsewhere, as the HICA is paying 1%,(?).

Yes I had realised that but for a temporary base for this month only, that interest rate is better than nothing and better than placing in a websaver.

So apart from the rate issue, the idea to keep funds in there as long as possible this month before changing the status of the account even if only 7 pence a day is a valid one.

If I also opened individual accounts, will a shift from one account to another of £1000 suffice or do the funds need to come externally?

derrick

breadwinners wrote: »

If I also opened individual accounts, will a shift from one account to another of £1000 suffice or do the funds need to come externally?

This is how I did it in February; -
Deposit into original account,(from external source), £1010. (this was via BACS, as FP can't be done yet from Coventry.
Transfer that £1010 into 2nd account.
Then transfer £1005 into 3rd account.
I then transferred £1000. back to original acc,(as 3rd acc would not let me export to external acc), then back to external source via FP, all done within 30 minutes.

I left £5. in each of the 2 new accs acc,just in case!

LongTermLurker

breadwinners wrote: »

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.

Possibly, but if you feel like writing the code for a forum that includes the intelligence to use "user" for 1 and "users" for >1 then feel free :rolleyes: (edit - it says "the following user says thank you..." on the one above - maybe someone wrote the code? Never noticed before...)

To answer your main point, yes I think you could say Mike's probably wrong this time; you could convert at the end of the month and gain an extra (small) amount in interest during the month - if, like me, your current account dwindles down to nothing through the month it's barely worth it and I'd say convert when the time is convenient.

breadwinners

LongTermLurker wrote: »

(edit - it says "the following user says thank you..." on the one above - maybe someone wrote the code? Never noticed before...)

Yes that's how it used to be before the weekend.The more I think about it, I had better wait. Money is just being parked in readiness to pay off a mortgage shortly. Aside from the tiny interest issue, if I make a mistake and go overdrawn, it would be less painful with a non reward account. Thanks.

LongTermLurker

breadwinners wrote: »

Yes that's how it used to be before the weekend.The more I think about it, I had better wait. Money is just being parked in readiness to pay off a mortgage shortly. Aside from the tiny interest issue, if I make a mistake and go overdrawn, it would be less painful with a non reward account. Thanks.

Yes, in that case it's better to wait if there's even the slightest chance you'll go overdrawn - you just need to weigh the "fee" against the "fine".

Back to the thanks, I quite like it cos it gives me an idea if someone understands my point of view, especially if mine and that person's previous comments were contentious.

Rob_07

Hi,
Sorry if this question has already been asked.

Are the Halifax issuing the new reward debit cards with a cheque guarantee limit? I am thinking of applying for the account purely for the £5 reward but want to know if they are giving any cheque guarantee limits.

Thanks
Rob

KTF

The cards that they sent me have a £100 cheque guarantee limit on the back. Makes no odds as I didnt request a chequebook though

aliasojo

I've just been transferring money back and forward from our accounts to fulfill the £1000 pay in thing and had a message come up onscreen telling me unusual activity has been detected and they need to confirm it's actually me who is doing it.

They wanted to phone me now before continuing any transactions but as it's 5.30 in the morning, I didn't want the phone waking the whole house so I had to opt for 'phone me later'. Until then, my account is in limbo.

northern_munky

aliasojo wrote: »

Until then, my account is in limbo.

What's showing up on your account, mine have been showing 'not available' since Friday now.