halifax current account with reward

henrie

halifax are offering £5 (after tax) per month paid into a current account if you put £1000 a month in. there is no catch, i have done it, takes about 6 weeks from when you see someone at the halifax, they take care of all your direct debits, make all the phone calls and transfer everything to your new account.

definitely worth doing, no other current account offers any better than that!

rb10

Yep, it's a good deal - have a look on these forums, and you will see many, many other threads in a similar vein to yours from others who have done the same as you.

apt

Halifax reward accounts are fine and dandy for picking a free monthly £5, but there's no need to use them as your current account. Just bounce £1000 straight in and out of the account once a month. Other accounts that offer credit interest or free overdrafts and a more robust faster payment system are better choices for your main current account.

ppol

:question::question: Can anyone tell me if you have to declare the £5 reward on your tax return??

noh

ppol wrote: »

:question::question: Can anyone tell me if you have to declare the £5 reward on your tax return??

Yes you should.
Remember that it is £5 net of 20% tax. The gross amount is £6.25

mr_fishbulb

ppol wrote: »

:question::question: Can anyone tell me if you have to declare the £5 reward on your tax return??

Yeah - from the footer of this page http://www.halifax.co.uk/bankaccounts/reward-current-account.asp :

This payment is 'net' of income tax. This means we pay it after taking off income tax at the rate set by law (currently 20%). If you are a higher-rate taxpayer, you may have to pay extra income tax on the reward payment. The gross amount is £6.25. This is the amount before we take off income tax. You may reclaim tax from HM Revenue & Customs if the amount of tax we have taken off is more than you have to pay. To find out more visit www.hmrc.gov.uk/incometax.

ppol

Super clear and understood. Tax returns are not that frightening are they!:rotfl:

TOP_CAT

I have multiple halifax reward accounts,4 in total which has been great for few fivers.
Someone on here mentioned trying BOS for another online, as it was working if you had a few already, so I did and received a letter saying they want too close 3 of mine now.

So I fell for it,wonder if they work for the bank,anyway I just wanted to warn any others on here,to hold tight.
Got last months rewards but no doute will get a bit less next month.

ScottySmog

henrie wrote: »

halifax are offering £5 (after tax) per month paid into a current account if you put £1000 a month in. there is no catch, i have done it, takes about 6 weeks from when you see someone at the halifax, they take care of all your direct debits, make all the phone calls and transfer everything to your new account.

definitely worth doing, no other current account offers any better than that!

In other news, Elvis has been found dead this morning ....

jenheiffer

I don't understand what some of you people are talking about - it seems clear from the website that you have to transfer from another current account to the Halifax to get this 'Reward' account. You can't just come in with £1000 and open a new one.:(

Mikeyorks

Not sure what you're reading / interpreting ...... but that's not right.

You can simply open a Reward account from cold. You don't need to transfer from anywhere.