Halifax Reward Account (as seen on tv advert)

Alienfish3000ad

partlydave wrote: »

I have 2 reward accounts in my own name(1 Halifax and 1 BoS), and opened the BoS one only last month online. They accepted it and have paid me the 1st fiver. I think theyre as confused as we are:)

Nice 1, think im gonna try that tonite :P

Although if I get refused, does that reflect on my credit rating?

jambosans

Alienfish3000ad wrote: »

Although if I get refused, does that reflect on my credit rating?

Yes, it's a search on your history and a decline.

tiff

How soon can you transfer money into your Reward account after opening it online? I opened mine two days ago and its still showing "application decision" next to the a/cs online. I tried to do FP from Lloyds into one of the accounts and came up with a "technical error" message both times I tried to do it.

noh

tiff wrote: »

How soon can you transfer money into your Reward account after opening it online? I opened mine two days ago and its still showing "application decision" next to the a/cs online. I tried to do FP from Lloyds into one of the accounts and came up with a "technical error" message both times I tried to do it.

Your account is not yet open.
You have applied but they have not yet made a decision whether or not they will allow you an account.

tiff

Ok, thanks. Will have to wait till next week now then I suppose.

tiff

Right, so one of the accounts has been set to live, I transferred £1000 in and now it wont let me transfer it back out again! It says to call them, but why does it have to be so difficult!

mindymoo1

Be wary about putting in your money until you get letter of confirmation that your account is open...I have the Halifax reward account and haven't had any problems but I know someone who had to chase after his money after he was 'accepted' for the account then weirdly got a letter saying 'declined' and his money disappeared, took a long phone call to get it sorted! (he got his money back).

banwa

jambosans wrote: »

No, you're talking about the Ultimate Reward Current Account, which is a package account that comes with various insurances, etc., for a monthly fee of £12.50 (reduced to £7.50 with £5 Reward).

The Reward Current Account is a free in-credit account that pays £5 Reward when funded with credits totalling £1000 or more in a calendar month.

I have just upgraded our account over the phone with Halifax because of this thread so thanks everyone. I was just lamenting to my husband that we haven't done this long before now and he said 'well we're always overdrawn so we wouldn't get the fiver anyway".

Well according to their website, we should get it anyway



"The Reward Current Account works like this:

• We'll give you £5 each month you pay in £1,000, whether you're in credit or overdrawn.
• Our overdraft fees are simple to understand. You'll pay daily overdraft fees rather than monthly interest, making it easy to manage your money. See the Overdrafts section for more details.
• You can keep track of your money with a free mobile alerting service."

We are always overdrawn so I'll let you know what happens...

jambosans

banwa wrote: »

We are always overdrawn so I'll let you know what happens...

You will definitely get the £5 Reward, regardless of the account balance. The only requirement to qualify for the £5 Reward is to have credits totalling £1000 (or more) going into the account each calendar month. There's no minimum balance e.g. you can transfer £1k in, and then minutes later transfer it straight back out again. If you have a sole account, remember you can change that to a Reward Current Account also - so yourself and husband could be earning £15 (3 x £5) across three accounts (two sole, one joint). That would effectively half any overdraft fees you pay (assuming you only use the one overdraft).

tiff

Brilliant way to reduce the overdraft fees, although I would be looking to move banks and just pay off this overdraft each month.