Halifax Reward Current Account - pays you £5 per month.

Mumolulu

Just read a note on the log in page on online banking about this account.

Is this all its cracked up to be? Anyone had any experience of this account? You pay in at least £1000 per month and you get £5 back.

I have my mortgage and credit card with them and I've always been pleased with them as a service provider.

Any advice? Should I go for it?

My current current account is with Barclays.

Comyface

If you run your account in an overdraft, it's £1 or £2 (depending on how big the overdraft) a day so could work out quite expensive.

Other than that, don't think there's any other catches.

jcb208

Theres lots of threads on this but how about opening 3 accounts and transfering the money between accounts then you will get £15 per month :j

flutterbyuk25

I have it and think it's great, but I don't use it as my main current account.

I have my wages paid in each month to meet the £1000/month credit. Then just transfer my 'spending' money out to my HSBC account. I leave x amount a month in Halifax to pay all my DD's.

x

Joe_Bloggs

I had a few problems because my initial deposit was made from BACS credits from other Banks. When this failed I tried to put in the minimum £100 for a debit card from funds held with the Halifax. All attempts failed because of an unpublished rule that deposits should be made in person or by cheque/cash to a branch. I broke the rule in using standing orders, trying to fund the account that I was given. Eventually I made my deposit in cash. This kick started things and all has gone well. I even got my suspended BACS transfers into my new Halifax account.
J_B. (Hooray for Halifax !)

robbo990

I use the Halifax Reward Account as my main account - have had no issues with it at all. The transfer service went smoothly and they gave me a free overdraft for four months and a guarantee that no charges would be incurred for the four months and no direct debits would be bounced.

Excellent service so far.

td_007

Mumolulu wrote: »

Is this all its cracked up to be? Anyone had any experience of this account? You pay in at least £1000 per month and you get £5 back.

Better late than never This has been available for sometime now.

Go on open max 3 a/cs allowed, bounce £1000 through each of them (can be from hfx itself) and make £15 per month:beer:

flyingscotno1

Joe_Bloggs wrote: »

I had a few problems because my initial deposit was made from BACS credits from other Banks. When this failed I tried to put in the minimum £100 for a debit card from funds held with the Halifax. All attempts failed because of an unpublished rule that deposits should be made in person or by cheque/cash to a branch. I broke the rule in using standing orders, trying to fund the account that I was given. Eventually I made my deposit in cash. This kick started things and all has gone well. I even got my suspended BACS transfers into my new Halifax account.
J_B. (Hooray for Halifax !)

I have never made a branch or cheque payment to my accounts and still got the debit cards.

sophie21

Hi all
I applied for a Rewards account few days ago, said processing application and would be in touch within 14 days to confirm this. Does anyone know how many days for the account to be up and running??
thanks

MrTomato

If you're leaving the £1000 in the account its the same as a 6% interest rate. I think.

flyingscotno1

sophie21 wrote: »

Hi all
I applied for a Rewards account few days ago, said processing application and would be in touch within 14 days to confirm this. Does anyone know how many days for the account to be up and running??
thanks

Basically means they want to run additional checks or it has been refered rather than automatically opened. Happened to me, was approved and opened about 3/4 working days later.