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Halifax Reward Account - multiple applications

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Comments

  • kriss_boy
    kriss_boy Posts: 2,131 Forumite
    Hmm.. If I remember correctly the A&L account Ive signed up for says I only need to pay in £500 each month for 3 months to get the £100 cashback. So perhaps Ill hangfire on moving my salary over to it just yet.

    Maybe I was being hasty in my decision to leave BoS...
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    kriss_boy wrote: »
    Hmm.. If I remember correctly the A&L account Ive signed up for says I only need to pay in £500 each month for 3 months to get the £100 cashback. So perhaps Ill hangfire on moving my salary over to it just yet.
    They may apply additional conditions when overdraft matching. For example, my £10K overdraft match required me to pay in £2K+ a month and they told me they'd be monitoring my account to ensure I did so.

    Good news is they don't because I've deposited various sums ranging from £500-£1K per month and the overdraft facility remains at £10K.
  • kriss_boy
    kriss_boy Posts: 2,131 Forumite
    They said they would match my £1250 overdraft If I provided a statement showing the overdraft limit and also that I hadnt exceeded the limit nor been in the positive for more than 28 days of the month.

    So I meet that criteria.

    Do they have the right to remove your OD prematurely? Because if the OD is 0% I could transfer the lot into a savings account and jsut leave the account overdrawn by £1249 for the 12 months as its 0%
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    kriss_boy wrote: »
    Do they have the right to remove your OD prematurely?
    Yes they do. Overdrafts are "repayable on demand".
    Because if the OD is 0% I could transfer the lot into a savings account and jsut leave the account overdrawn by £1249 for the 12 months as its 0%
    Where do you think my £10K is? ;)

    It's currently with Halifax at 5% AER, which makes me around £28 per month/£336 per year net of income tax and the £5 per month A&L overdraft usage fee (I'm in my second year...for much of the first year it was making 6.3% AER with Egg) :D.
  • noh
    noh Posts: 5,817 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I've done a similar thing.
    I opened the premier account for the £100 incentive and £45 quidco cashback.
    They gave me a £1200 overdraft without me needing to ask them to match an existing one.
    I then opened a A+L Online Saver via Quidco for £20 cashback and moved £1199 from the overdraft into the savings account.
    That way you gain £20 and have the satisfaction of A+L paying you interest on their own money.
    I too have the Halifax 5% account but that finishes at end of November so didn't bother moving the money out of A+L.
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    noh wrote: »
    I too have the Halifax 5% account but that finishes at end of November...
    As does mine noh, so it's looking like it'll be a net £15-17 or so a month from then on at 3.xx% AER. Still, it's £200 a year for nothing...and that'll pay for a weekend away. :)
  • noh
    noh Posts: 5,817 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 24 October 2009 at 4:09PM
    As does mine noh, so it's looking like it'll be a net £15-17 or so a month from then on at 3.xx% AER. Still, it's £200 a year for nothing...and that'll pay for a weekend away. :)

    I agree well worth while.
    Unfortunately A+L, with their latest offer, will only match to a maximum of £2000 so no profit available to make it worthwhile after the first year.
  • D1zzy
    D1zzy Posts: 1,500 Forumite
    Its pay day -so just attempting to do my first £1000 transfers through my 3 nice new reward accounts:-
    LTSB - Halifax FP OK
    Acc1>Acc2>Acc3> - OK
    Halifax- LTSB -FP Not available (not part of the plan!!):mad:
    Tried £500 - still not available
    Tried £1 to Egg - went FP fine.

    Thinks - maybe its a Sunday thing ;) - but no this is LTSB so its already Monday:confused:
    Any reasons or is this just the vaguaries of FP
  • I did all my transfers Fri eve...

    HSBC - Reward Acc A £5
    HSBC - Reward Acc B £5
    HSBC - Reward Acc C £5
    HSBC - Reward Acc A £1000
    Reward Acc A - Reward Acc B -Reward Acc C £1000 all fine...

    Go online today to check the current account had been changed to reward accounts online and guess what? I'm -£1000 (overdrawn) in Acc A and only £5 in Acc B!!!!!!!!!!!:mad::mad::mad:

    Phoned up Halifax and they can't help me today as its Sunday, they think I never really receive the money from HSBC, if that was the case why are all the accounts showing transfers and with no O/D facility how can I be -£1000!!!!!!!!!!!!!!
  • rb10
    rb10 Posts: 6,334 Forumite
    Go online today to check the current account had been changed to reward accounts online and guess what? I'm -£1000 (overdrawn) in Acc A and only £5 in Acc B!!!!!!!!!!!:mad::mad::mad:

    Phoned up Halifax and they can't help me today as its Sunday, they think I never really receive the money from HSBC, if that was the case why are all the accounts showing transfers and with no O/D facility how can I be -£1000!!!!!!!!!!!!!!

    If you have a look at one of the (many) threads on here about the Reward accounts, you will see that this is a very common issue.

    It is almost certain that by first thing tomorrow morning, they will be showing up correctly.

    In the unlikely event that this doesn't happen, it will show correctly by first thing Tuesday morning.
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