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Halifax Reward Account - multiple applications

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Comments

  • It's max 2 accounts (1 sole/1 joint) from 1/11/09.

    ...thanks, if you already had a few would they insist you close them?
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    ...thanks, if you already had a few would they insist you close them?
    Who knows? The T&Cs certainly allow them, with notice, to do so.

    And they have done previously...specifically those who also opened 3 x BoS Reward accounts earlier this year, giving them 6 in total.
  • D1zzy
    D1zzy Posts: 1,500 Forumite
    But there's something in it for LTSB...£28/35/42/49K of 'cheap' funding they can use to provide overdraft facilities, loan out, invest, etc.

    What's in it for Halifax/BoS?
    - the opportunity to sell me other stuff?
    Yr probably right - but what was in it for them when they allowed multiple accounts in the first place - or did the marketing dept just get it wrong
  • kriss_boy
    kriss_boy Posts: 2,131 Forumite
    Am I missing something? The reward account costs £12 per month but they only give you £5 interest?

    Whats the point?

    Could I upgrade mine current account to a reward one and then sneekily move a grand in and out for a couple of days each month to get the fiver?
  • The reward account doesn't cost anything, see the halifax website, £5 paid in each month so I've just opened 3, nice AER over the year!
  • Baldur
    Baldur Posts: 6,565 Forumite
    kriss_boy wrote: »
    Am I missing something? The reward account costs £12 per month but they only give you £5 interest?
    The Reward account has no monthly fee - http://www.halifax.co.uk/bankaccounts/bankaccountsweoffer.asp

    You are thinking of the Ultimate Reward account
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    kriss_boy wrote: »
    Am I missing something? The reward account costs £12 per month
    That's the Ultimate Reward, and it's £12.50 a month.
    Could I upgrade mine current account to a reward one and then sneekily move a grand in and out for a couple of days each month to get the fiver?
    Yes you can, and furthermore you could open another 2 to make 3 if you're quick, but not if you're saying "cheerio" to them, as you said here...

    http://forums.moneysavingexpert.com/showthread.html?p=26243047&highlight=#post26243047

    ;)

    Hmmm...now you CAN see the wood for the trees. I thought I could hear a penny drop!
  • kriss_boy
    kriss_boy Posts: 2,131 Forumite
    That's the Ultimate Reward, and it's £12.50 a month. Yes you can, and furthermore you could open another 2 to make 3 if you're quick, but not if you're saying "cheerio" to them, as you said here...

    http://forums.moneysavingexpert.com/showthread.html?p=26243047&highlight=#post26243047

    ;)

    Hmmm...now you CAN see the wood for the trees. I thought I could hear a penny drop!

    Haha yea!

    The reason I was confused is when logged into my Bank of Scotland you can click "upgrade my account" but the only option is the £12.50 ultimate reward.

    My girlfriend and I have 3 accounts between us. I phoned up and the guy said on Dec 6th our 3 accounts will all be automatically upgraded to include the £5 per month on £1000 transactions.

    Do you think I can literally send £1000 from my new A&L account into my Bank of Scotland account. Then log in and within a matter of seconds pass the £1000 through each of the 3 accounts and send it back to my A&L?

    Surely the Halifax/BoS will be wise to this?!?!
  • kriss_boy
    kriss_boy Posts: 2,131 Forumite
    Er.. just opened another reward account and thats it up and running!!

    How easy was that?!!

    Surely the BoS will be wise to people doing this!!!
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    kriss_boy wrote: »
    Do you think I can literally send £1000 from my new A&L account into my Bank of Scotland account. Then log in and within a matter of seconds pass the £1000 through each of the 3 accounts and send it back to my A&L?
    Ssshhhh...don't tell everyone! ;)
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