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

runmichellerun

What are Halifax Customer Services like? Not to sound bigotted or anything, but is their call centre based in the UK or India? And do you have to press 15 different options on the telephone system, like some banks?

I'm considering switching but have been with my current bank for 17 years and don't have too many problems with them (except the amount they charge when I go into an unathorised overdraft - £28 :eek:) so need to make sure it's worth it.

YorkshireBoy

runmichellerun wrote: »

What are Halifax Customer Services like?

OK, nothing more, nothing less.

Not to sound bigotted or anything, but is their call centre based in the UK or India?

UK.

And do you have to press 15 different options on the telephone system, like some banks?

No. Also, I never ring them...they ring me (at their cost) with their callback service.

I'm considering switching but have been with my current bank for 17 years...

Consider keeping that account open, as it's useful for credit scoring purposes with 'time with bank' being a key stability criterion.

...don't have too many problems with them (except the amount they charge when I go into an unathorised overdraft - £28 :eek:) so need to make sure it's worth it.

Halifax will sting you as well, with their £5 per day unauthorised overdraft usage fee. Much better to avoid the charges in the first place.

flyingscotno1

annual_gift_man wrote: »

doesnt ittake like 4 days to trans fer money from a bank account ot another so u have to do a lot of gay waiting around for it? u cant just all do it "in the space of a cup of tea"? can u?

Welcome to the world of faster payments done in seconds- no 'gay' waiting required.

wizk1

Marvellous. Can't be doing with any of that 'gay' waiting around

runmichellerun

YorkshireBoy wrote: »

Halifax will sting you as well, with their £5 per day unauthorised overdraft usage fee. Much better to avoid the charges in the first place.

Thanks for this.

Yes, I understand Halifax charge £5 per day, but Natwest charge £28 despite the fact I put the money in the next day (for going overdrawn by £8.49).

It's the first time in a long time I've done that and I check my online banking every day so I'm not worried about the £5 per day.

I think you're right that I should keep my Natwest account open, and think i'll use it to transfer in money to pay the extra for my loan.

maramato

hi - i transferred from abbey a couple of months or so ago and the whole transfer has been fine. in fact, i would put halifax in a whole different league. my abbey account was closed on 7 august and, to date - over 2 weeks later - i still have not received the money due to me ... about £800. i phoned today and spoke with a lady in a call centre ... after being on the phone to them for 20 minutes when she was attempting to speak with the banstead, surrey branch who had closed my account, the call was disconnected. soooo frustrating. i would definitely recommend the halifax reward account - the staff are always very helpful and i have even received phone calls from halifax customer service asking if everything is ok! i hope this is helpful to you, if you have not already opened your halifax account.

jennifernil

runmichellerun wrote: »

Thanks for this.

Yes, I understand Halifax charge £5 per day, but Natwest charge £28 despite the fact I put the money in the next day (for going overdrawn by £8.49).

It's the first time in a long time I've done that and I check my online banking every day so I'm not worried about the £5 per day.

I think you're right that I should keep my Natwest account open, and think i'll use it to transfer in money to pay the extra for my loan.

I thought it was £1 per day for agreed )OD up to £2500?

fablad75

If you...
then we’ll charge you...
use an arranged overdraft up to and including £2,500
£1 a day
use an arranged overdraft over £2,500
£2 a day
use an unarranged overdraft
£5 a day

jennifernil

Lex_Marshall wrote: »

Hi Jennifernil

Just started this escapade and wonder how you got 6 accounts? I can figure 3 alright between Halifax and RBS (is it 3 with each?). Appreciate advice.

Sorry, been away!

Yes, I have 3 reward accounts, 2 Halifax, 1 BOS, Hubby has 2 Halifax. Then daughter has one Halifax Reward (she is a student). Then we converted our joint HICA to a Reward account as the £5 was more than the interest we were getting.

Our Joint a/c has our pensions going into it, so it stands alone. And gets its own £5.

The £1000 comes from my BOS IASA (which pays only 0.5%), and goes to my 2 Halifax rewards, then to Hubby's 2 halifax Rewards, then to daughter's Reward a/c, then to my BOS Reward and back to my savings account. Thus earning another £30 per month.

Soon the same £1000 will also go through my Lloyds Vantage account so it can earn 4% on £7k.

All within the T&Cs laid down.

And a good use of £1000!

jennifernil

td_007 wrote: »

It is net interest - see here under "important note" http://www.halifax.co.uk/bankaccounts/reward-current-account.asp

A direct quote "This payment is 'net' of income tax. This means we pay it after taking off income tax at the rate set by law (currently 20%). If you are a higher-rate taxpayer, you may have to pay extra income tax on the reward payment. The gross amount is £6.25. This is the amount before we take off income tax. You may reclaim tax from HM Revenue & Customs if the amount of tax we have taken off is more than you have to pay."

So as non-tax payer you can reclaim & as a higher rate tax payer your husband has to pay additional 20%.

Yes, I can confirm that I got back the £1.25 tax that was deducted from each £5, and it only took 2 weeks......I was really surprised it was so quick!