Halifax Reward Account - multiple applications

opinions4u

Lady_K wrote: »

I was told when applying by phone that the money has to stay in at least 24 hours so it gets updated overnight on the system, whether this is correct I don't know as the reliability of the customer services reps knowing the correct info is always in question as more often than not they are wrong. But I have left mine in overnight to be sure anyway until I'm totally sure its ok to do a quick in and out

To earnt the £5 the funds don't have to be in the account overnight.

The account does, however, require a sum of £100 to remain in the account overnight in order to issue the debit card after opening.

The T&Cs (which I can't find the link to) make no reference to anything other than funding the account. So they cannot force you to leave the money in.

The web site states: "If you pay in £1,000 or more during any month you will receive one reward payment the following month. If you do not pay in £1,000 in any month you will not receive any reward payment for that month".

More importantly, I have received my £5 when the funds have not been in overnight.

Lady_K

opinions4u wrote: »

To earnt the £5 the funds don't have to be in the account overnight.

The account does, however, require a sum of £100 to remain in the account overnight in order to issue the debit card after opening.

Does it confirm this anywhere so we know for sure?

noh

Lady_K wrote: »

Does it confirm this anywhere so we know for sure?

Nothing is stated concerning the length of of time deposits need to remain in the account.
The £100 deposit before issue of Debit card/cheque book is in the T+C's.

It is the experience of all those who have held Reward accounts since their inception in Febuary that the £100 has to be in overnight and that to count towards the £1000 pm deposit there is no minimum time required.

noh

For reference the terms and conditions both pre and post November 1st are in this document:-
http://www.halifax.co.uk/bankaccounts/pdf/Halifax-Reward-Terms-and-Conditions.pdf

blueberrypie

Lady_K wrote: »

I was told when applying by phone that the money has to stay in at least 24 hours so it gets updated overnight on the system, whether this is correct I don't know as the reliability of the customer services reps knowing the correct info is always in question as more often than not they are wrong. But I have left mine in overnight to be sure anyway until I'm totally sure its ok to do a quick in and out

You can be totally sure. I've never left the money in for more than five minutes and have always received the reward payments :-)

Lady_K

I keep forgetting that this has been going for a little while so of course there are people who have been using it who can confirm it I forgot about that, Thankyou

anna42hmr

fingers crossed, i receive my first batch of £5's this week. any one know what day or date its usually paid, or does it vary.

BruceyBonus

anna42hmr wrote: »

fingers crossed, i receive my first batch of £5's this week. any one know what day or date its usually paid, or does it vary.

It is usually paid on the 2nd of every month. Mine hasn't been paid yet today, so I assume it'll take a day longer as the 1st fell on a Sunday.

anna42hmr

reward is showing already this month didnt think it would show till tuesday next week, with it being a bank holiday weekend etc!

made £45 so far from this account since i opened them, wish i found out about it sooner lol!

Mikeyorks

anna42hmr wrote: »

.. didnt think it would show till tuesday next week, with it being a bank holiday weekend etc!

Halifax seem to be fairly unique in that they run their Batch processes every day - not just the Bank working days. So their accounts tend to reflect a very true picture - in particular if credits / debits are internal.