HBOS - £5 reward

Tuffgirl

I was told by Halifax that 3 reward current accounts was the maximum I could have. So that £15 a month, £36 a year. Not bad for a few minutes spent transferring the money.

Tuffgirl

Sorry, cannot do the maths. It is £180 a year.

anselld

Livy wrote: »

yeah, found this site http://www.ukpayments.org.uk/faster_payments_service/value_limits/

so seems sending via rbs, with s/o is probably a better bet.

Careful! Not all s/o go via fp and also you cant control the order of moves. Best to use manual fp transfers.

blueberrypie

Tuffgirl wrote: »

I was told by Halifax that 3 reward current accounts was the maximum I could have. So that £15 a month, £36 a year. Not bad for a few minutes spent transferring the money.

The maximum was three when the Reward account was introduced, but that was changed in November, and the limit is now two - one held jointly, one held singly.

Customers who already had 3 RCAs have (so far) been allowed to keep them.

blueberrypie

Livy wrote: »

edit: this will all be setup via S/O does that make any difference?

Many banks don't send S/Os by FP, even if they use it for ordinary transfers. If your S/O goes by BACS, you're looking at 3-4 days before it arrives in your Halifax account, then possibly another 3-4 days for any subsequent transfer. Add extra days for weekends and holidays, and you probably need to allow about a week between each S/O.

To be honest, it's easier to do it manually via on-line banking once a month - it takes two minutes and the money can be back in an interest-earning account within a couple of hours (at most, if FP is being really slow that day).

rb10

heloid wrote: »

Remember that A&L only do £250 faster payments max so you will have to send the money over the period of 4 days.

No - internal transfers within Halifax also count towards the £1000, so (until A&L improve their FPs), you could do £250 from

A&L -> Halifax1 -> Halifax2 -> Halifax3 -> (repeat cycle through Halifax accounts three times) -> A&L.

It's a little more work, but Halifax's online system is fast and shows transfers immediately, so wouldn't take more than a few minutes per month.