Halifax free £5 a month

D1zzy

tiff wrote: »

So on There is now NIL balance on the a/cs till the next rewards are paid.

I was under the impression that u had to maintain a balance > 0 ? - I keep £1 in mine

liamcov

tiff wrote: »

Yes, exactly but you have to pay in £1000 not £500. So on 2nd March I paid in £1000 and picked up the £5's then transferred that £1015 back to where it is usually kept. It went by faster payment so you dont lose any interest. There is now NIL balance on the a/cs till the next rewards are paid.

Oh yeah sorry I'm thinking of the A&L one.

welshmoneylover

Just want to shout from the rooftops that I got my 1st free fiver this month :j

steveksullivan

There are loads of threads discussing this account in the 'saving and investing' forum

Most of the above is true:

£1000 needs to hit the account each calendar month ..... THINK that the account only has to have a positive balance i.e 1 penny not £1 .... however I leave £1 in each of mine to be sure

The limit is now 1 sole and 1 joint account per person .... us lucky sods got three before they reduced the limit - so I have three, my partner has three and my son has three - the same £1000 gets cycled through all nine accounts by faster payments .... takes about 3 minutes per month and nets us £45 per month between us!

anna42hmr

if you have an overdraft facility then they let you go to 0 or minus in the account (so there is nothing stopping you asking for a £10 overdraft, so you can leave £0 in there each month) as if you have no overdraft to withdraw online you have to leave £0.01 in the accounts

Mikeyorks

steveksullivan wrote: »

There are loads of threads discussing this account in the 'saving and investing' forum

But ....... even more on here! Which is the right place ...... as it's a current account.

paulw98

There must be more posts on this than anything else on this site, do people never search!

Kavanne

ray123 wrote: »

You are allowed three reward accounts per person.

...Yes, I have 2 sole and 1 joint. My partner is on the joint account and has 2 of his own... 5!

opinions4u

Kavanne wrote: »

...Yes, I have 2 sole and 1 joint. My partner is on the joint account and has 2 of his own... 5!

I wonder if my 3 sole Rewards and 1 joint Reward (all Halifax) are a record then?!

[Deleted User]

liamcov wrote: »

So do you withdraw the £5 every month too to leave £0 then £500 the next month, withdraw £505 and so on?

I just transfer £1000 into HRCA1, then to HRCA2, then to HRCA3, then back to my normal current account elsewhere, and let the £5s pile up.

I've got 3 Halifax accounts with £25 in each so far