Halifax reward account

savemoney

Can you move money from that account to another in another bank per month over 1k then move it back again to qualify for the £5 per month

Thanks

anna42hmr

savemoney wrote: »

Can you move money from that account to another in another bank per month over 1k then move it back again to qualify for the £5 per month

Thanks

yes you can the £1000 doesnt have to stay there, indeed it stays in my account for a few minutes only

i have 3 halifax reward accounts so it goes from account 1 to account 2 to account 3 and out again (as you can see from my signature, earnt £90 so far via the rewards accounts)

you can also transfer it bits it doesnt have to be £1000 in one go to get the £5

have you opened the account yet, and paid in? The first payment in gets a bit stuck for a day or two so you wont be able to withdraw it the same day, (usually the next working day) so if you need the money else where, i would just pay a small amount to activate the account overnight, then when you can withdraw that, then top it up so the £1000 is paid in and out again (£100 has to be left in to enable it to issue the debit /cash card etc anyway)

savemoney

Thanks anna42hmr

So I will set up a online transfer to my Abbey account the then bounce it back as long as long as I keep it over 1k

steveksullivan

not sure you've completely got it ...

you talk about keeping 1K in the account - you dont need to!

You only need to MOVE £1000 through the account each month to get the £5

My money is in a different higher interest paying account, then one day each month I pay £1000 into my first reward account - then 5 seconds later transfer the same £1000 into my second reward account - 5 seconds later transfer the same £1000 into my third reward account - then 5 seconds later, using faster payments, transfer it back out again to my high interest paying account

(and do the same for my partner and my adult son!)

(got our accounts back in the days when you were allowed three accounts each ......)

£45 earned in about 5 minutes......

innovate

oh, I never thought of having more than one reward acct - - can you open the other two on the Internet or do you need to go into a Branch?

Mikeyorks

They changed the T&Cs in Nov (?). You can now only have one Reward account in a sole name and one in joint (so, 3 in total ..... if you have someone you are 'joint' with!)