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

Mike_J

PROLIANT wrote: »

I have the High Interest Current Account with Halifax, does this mean that it will be changed soon?

Was in the bank at weekend and although not "necessary" we changed our HICA to a reward one. Why? Can that was the first time that we found that its no longer High Interest. Its now under 1% so unless you got a constant £6-7k in it, you might as well change and get the £5 per month.

sabretoothtigger

I found lloyds offer one at 2.5% and they are sort of the same bank now

opinions4u

Mike_J wrote: »

Was in the bank at weekend and although not "necessary" we changed our HICA to a reward one. Why? Can that was the first time that we found that its no longer High Interest. Its now under 1% so unless you got a constant £6-7k in it, you might as well change and get the £5 per month.

Depends on your definition of "high". 0.5% over BofE rate is probably the highest rate it's had (other than the last couple of months when it's been higher still) since they launched it in 2006.

Your £6k-£7k suggestion is flawed btw. They cap the 1% rate to the first £2,500. After that it's 0.1%!! So unless you're an overdraft user or pay in less than £1,000 a month, the Reward account is, as you say, probably the best option.

Alienfish

Because the Reward account is offered by Halifax and Bank of Scotland, is it possible to open 6 accounts then?!

masonic

Alienfish wrote: »

Because the Reward account is offered by Halifax and Bank of Scotland, is it possible to open 6 accounts then?!

Theoretically, yes. At one point it seemed achievable, but most people seem to have been stopped at 3 (or even 2) accounts recently.

gunton10

does this have to be a one of payment of £1000 or can it be 2 payments of £500 at different times so effectively £100 has been in the account that month.

Kavanne

gunton10 wrote: »

does this have to be a one of payment of £1000 or can it be 2 payments of £500 at different times so effectively £100 has been in the account that month.

It could be 10 payments of £100, even

TrowbridgeTraveller

Kavanne wrote: »

It could be 10 payments of £100, even

A question for those of you who already have multiple reward accounts...

Does it also work if you transfer the money between current reward accounts? Or does it have to be from an external account to each reward account each time?

Eg - Can I transfer In £1000 to Reward A/C 1 from external source. Then transfer £1000 from Reward A/C 1 to Reward A/C 2. Then transfer the £1000 from Reward A/C 2 to Reward A/C 3. And finally transfer the £1000 from Reward A/C 3 back to the external account? Will this give me £5 for each Reward A/C?

Or do I have to transfer in £1000 from an external account into Reward A/C 1, and then transfer it out externally again. Then transfer in £1000 from the external account into Reward A/C 2 and then transfer it out exernally again, etc...

tipsychick

TrowbridgeTraveller wrote: »

Eg - Can I transfer In £1000 to Reward A/C 1 from external source. Then transfer £1000 from Reward A/C 1 to Reward A/C 2. Then transfer the £1000 from Reward A/C 2 to Reward A/C 3. And finally transfer the £1000 from Reward A/C 3 back to the external account? Will this give me £5 for each Reward A/C?

This method works! I've been doing it since Feb and have the full complement of fivers!

Kavanne

i have also only been transferring £1000 between all 5 of our reward accounts and this has worked.