halifax reward current account - how long does the £1000

anna42hmr

how long does the £1000 have to be in the account to qualify for the £5.00 ?

also does the £1000 have to be in one payment or can i pay £500 from one account and £500 from another??

just opened it and wanted to check

thanks

opinions4u

1 second is enough. You can transfer in and transfer out the same day.

Multiple credits totalling £1,000 a month (e.g. 4 x £250) are fine.

Baldur

In and out again if you like - the requirement is that you deposit £1,000 per month not that it has to be in one lump - could be 10 x £100 or any other permutation as long as the total deposited in the month is £1,000.

YorkshireBoy

anna42hmr wrote: »

how long does the £1000 have to be in the account to qualify for the £5.00 ?

Seconds!

also does the £1000 have to be in one payment or can i pay £500 from one account and £500 from another??

Doesn't matter where from or how much, so long as they total at least £1,000 over the calendar month.

YorkshireBoy

Just to add, I make my deposits (by FP) on the day they pay the reward, which is the 2nd of the month, ie £1,000 in/£1,005 out to leave a £1 balance, but then I don't use my Reward accounts for anything else.

anna42hmr

thanks for the replies everyone

anna42hmr

put the first £500 in, it wont let me make a payment out yet though (lets me put payee details but not actally make a payment), maybe because its a new account?? will try to withdraw it in a couple of days and then pay another £500 in. i assume the cut off for paying in to qualiify is the last working day of the month??

LittleVoice

anna42hmr wrote: »

i assume the cut off for paying in to qualiify is the last working day of the month??

yes - but I'm not sure if they count Saturdays as working days for this purpose (A&L don't in relation to their funding requirement)

Baldur

anna42hmr wrote: »

put the first £500 in, it wont let me make a payment out yet though (lets me put payee details but not actally make a payment), maybe because its a new account?

It will let you transfer it out tomorrow. My first one wouldn't even let me transfer to my Halifax Regular Saver on the day of my first deposit.

rb10

anna42hmr wrote: »

put the first £500 in, it wont let me make a payment out yet though (lets me put payee details but not actally make a payment), maybe because its a new account?? will try to withdraw it in a couple of days and then pay another £500 in.

It may have to wait until you've returned your signed application form, and until they've seen ID (if required) before you're able to withdraw from the account.

anna42hmr wrote: »

i assume the cut off for paying in to qualiify is the last working day of the month??

I would imagine that as the T&Cs state that it's during the calendar month, that any payments received right up until the last day of the month would count. However, I'd always try to get them in earlier ... just in case!

Baldur

rb10 wrote: »

It may have to wait until you've returned your signed application form, and until they've seen ID (if required) before you're able to withdraw from the account.

I wasn't au fait with the paperwork issue, as I was already a Halifax internet banking customer (FRISA & Web Saver) - merely opened & funded all three Vantage accounts and the Regular Saver online. The paperwork (welcome letters/Debit Cards, etc.) is only just starting to trickle through.