Halifax or BOS Reward

keadd

Hi Everyone,

I want to open one of the above accounts for the £5 monthly reward.

I was wondering which one to open? Can both be serviced in each others branches and how good are the internet banking systems?

Cheers

rb10

They are both identical accounts.

You can use either's account in either's branch.

Their internet banking is the same, other than the logo at the top.

If you open a Halifax one, you'll be able to see it on either Halifax or BOS internet banking, along with any other Halifax and BOS accounts that you currently hold.

Basically, take your pick. They are exactly the same account, simply with different branding.

keadd

Cheers... As I dont need an overdraft as it wont be my main account, id only be using it to get the £5 each month could I choose not to have an OD, therfore not getting credit searched?

Ive applied for 2 new credit cards this month already so another search wouldnt be great!!

Cheers

noh

Whether or not you ask for an overdraft there will be a credit search.

rb10

It is a full current account, so you will be credit searched regardless of whether you ask for an overdraft or not.

The only exception is if you are an existing customer and have a guaranteed offer. (They will be able to tell you this before you make the application.)

Note that if you apply in branch, you may be able to get a cash incentive for doing so - it appears that not all branches do this, so it would be worth asking locally.

keadd

OK thanks I'll ask in the branch about the incentive, how much do they pay? Im no longer an existing customer, did have a credit card but closed it a few weeks ago!

Thanks

YorkshireBoy

keadd wrote: »

OK thanks I'll ask in the branch about the incentive, how much do they pay?

£25 or £50 from memory. Can't remember anything more than this when I asked or from reading on here.

Im no longer an existing customer, did have a credit card but closed it a few weeks ago!

They do have an 'early credit decisioning' (ECD) system but you (probably?) wouldn't have qualified for a search free current account on the back of a credit card account.

keadd

Ive just had a thought, I have a loan with the Halifax. Perhaps this would class me as an existing customer?

dougz_2

keadd wrote: »

Can both be serviced in each others branches...?

Yes but, there are some restrictions in service for BoS customers using a Halifax branch, i.e when withdrawing large amounts of cash. See T&C http://www.bankofscotlandhalifax.co.uk/bankaccounts/pdf/Bank-of-Scotland-Reward-Terms-and-Conditions.pdf