Halifax Reward Account - multiple applications

Newbie2saving

YorkshireBoy wrote: »

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

Newbie2saving wrote: »

...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

YorkshireBoy wrote: »

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

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?

Newbie2saving

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

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

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

YorkshireBoy wrote: »

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

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

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!