Halifax Current Acc (£5 for every £1k/month)?

trickywu

Hi,
Just wondering has anyone switched to this new account with the Halifax? Is it all its cracked up to be?

many thanks

Dave

EarthBoy

trickywu wrote: »

Hi,
Just wondering has anyone switched to this new account with the Halifax? Is it all its cracked up to be?

many thanks

Dave

Loads of people have opened this account. Have you not seen this thread on it? -

http://forums.moneysavingexpert.com/showthread.html?t=1475183

norangeduck

i switched from halifax when they changed my account on to this, as I was going to be worse off, I went to Alliance and leicester with their £100 offer

jennifernil

the Reward account is only good if you do not need an overdraft.

shelly

Hubby and I both have 2 of these reward accounts. We haven't switched to them, they are aswell as our current accounts.
We use one £1000 and transfer it online to each of the 4 reward accounts. It doesn't have to be in the account for any length of time, it just has to go in. (ours goes in and immediately comes out again to go to the next account) Takes about 1 minute once a month for a free £10 each.

If you don't have £1000 to transfer about you can use a smaller amount and just transfer it between the accounts a few times.

realaledrinker

shelly wrote: »

Hubby and I both have 2 of these reward accounts. We haven't switched to them, they are aswell as our current accounts.
We use one £1000 and transfer it online to each of the 4 reward accounts. It doesn't have to be in the account for any length of time, it just has to go in. (ours goes in and immediately comes out again to go to the next account) Takes about 1 minute once a month for a free £10 each.

If you don't have £1000 to transfer about you can use a smaller amount and just transfer it between the accounts a few times.

Fair play to shelly but it just shows what a ferking shambles HBOS are in if their systems allow this abuse to go on.

shelly

realaledrinker wrote: »

Fair play to shelly but it just shows what a ferking shambles HBOS are in if their systems allow this abuse to go on.

What abuse?

c8ndice

Some people don't get £1000 a month, so this is a good way of earning a little more money.

It isn't abuse, and until they change the 'rules' then fair play :beer:

rb10

realaledrinker wrote: »

Fair play to shelly but it just shows what a ferking shambles HBOS are in if their systems allow this abuse to go on.

Come off it, they are one of our biggest banks. They know what's going on. However, it's a tiny minority of people who will be doing this, so they can afford to lose a small of money over people twisting the system when there are massive gains to be made by the much larger numbers of people who will use it 'properly'.

I assume lots of people will be switching their main current account to Halifax because of this, as it's such a good offer, so they have presumably decided that a few people playing the system will be easily outweighed by all the new customers.

nzseries1

Halifax Current Acc (£5 for every £1k/month)?

Just so we're all clear... It's not £5 for every £1k.
It's one £5 payment per account per month if you pay in £1,000 or more.

bristolleedsfan

rb10 wrote: »

Come off it, they are one of our biggest banks. They know what's going on. However, it's a tiny minority of people who will be doing this, so they can afford to lose a small of money over people twisting the system when there are massive gains to be made by the much larger numbers of people who will use it 'properly'.

I assume lots of people will be switching their main current account to Halifax because of this, as it's such a good offer, so they have presumably decided that a few people playing the system will be easily outweighed by all the new customers.

Add to that the extra Halifax/BOS products that people who have been lured to this account may well take out, fact that some people will leave high balances in the current account earning no interest and fact many will face higher overdraft charges not all of whom will be able to open current accounts elsewhere, fact that Halifax often offer a 100.00 account opening/switching incentive during February something they dont need to do this year + fact many were receiving 100.00 a year on its moneyback account.