New Halifax High Interest Current Account

regularsaver1

yeah thats why i think i will stick with moneyback - hardly ever use overdraft but if i do its around the 7.9% mark instead

awww well did see you as a father figure kenshaz

newleaf

Lorian wrote:

I rang them. They said they are sending me a "pack" which includes a form to move over my existing account, keeping same account number and sort code.

Better check other T&C's are OK when it arrives.

Thanks for this, I had naively assumed they would just convert my account to a high interest one as I pay in £1000 pcm, but obviously there are different t&cs so they wouldn't be able to just switch you without permission. I've just phoned them and they're sending me a form.

regularsaver1

thats because the normal account can earn the 2.53% for all balance below £2500 and above - some may prefer that

others have money back

so not going to just change the accounts - as , like you said different T&C

EagerLearner

Hi all,

Just wondering which is the best account for us with Halifax - we need 2 x sole and 1 x joint.

The joint will take £235 from each of us at the beginning of each month. This is for bills, shopping, DD's etc.

The sole accounts will take average £1,200 from each, then automatically transfer £235 each to the joint.

We only go overdrawn by max £50 on joint or sole accounts and this gets cleared each month.

I have an Egg Money card but am wondering if it would be simpler to have just a moneyback current account with Halifax on the sole and a high interest account with them on the joint.

Can anyone make recommendations?

Plus is there any way to make more money - ie: can someone recommend me?

Many thanks.

bradley_2-2

if anyone has existing HBoS accounts and needs a redesignation form to move to either moneyback or High Interest PM me and i'll send you one right now =]

Gordon_the_Moron

Poppy9 wrote:

I already have a halifax current account and pay in over £1000 per month. Will I automatically get the higher interest rate?

Also for those who do not pay in £1000 per month if you put your account on line and open an online savings account too you can transfer money to your savings account and straight back to you current account within minutes and qualify for paying in £1000 per month!

That usually doesn't work (A+L and Coventry BS it doesn't) as the money doesn't count coming from an internal transfer from another account with the bank/society. If you live near a branch you can get round it by just withdrawing £X from the cashpoint outside then walking in and paying it back in though. The suggestion above MAY work on the Halifax account since I haven't seen the rules but I doubt they'd be that daft!

swinstan

Without reading these posts, I've just spoken to the Halifax with a view to changing my existing account. Having banked with them for years they have my complete history and to their credit they suggested that it would not be in my best interest since - and this is the key - if you go over £2500 per month in the account the whole lot drops back to the lower rate for the whole of that month! We pay two salaries in and having arranged for most DDRs to go out at the end of the month quite a lot of cash stays there for a while. I'd be interested to hear whether anyone has actually confirmed the earlier assumptions with the Halifax.

M_Thomson

swinstan wrote:

Without reading these posts, I've just spoken to the Halifax with a view to changing my existing account. Having banked with them for years they have my complete history and to their credit they suggested that it would not be in my best interest since - and this is the key - if you go over £2500 per month in the account the whole lot drops back to the lower rate for the whole of that month! We pay two salaries in and having arranged for most DDRs to go out at the end of the month quite a lot of cash stays there for a while. I'd be interested to hear whether anyone has actually confirmed the earlier assumptions with the Halifax.

What they told you was incorrect. It is 5.12% AER on the first £2500 of the balance then 0.1% on anything after that.

swinstan

Thanks to M Thomson. They're still sending me the paperwork so I'll check out the small print.

CharleneUK

Hmmm still not sure if I should go with Hali or A&L....