Halifax Reward account - can withdraw money after £1000 deposit?

Marv02

You know, I did this for a while and it was kinda funny that the lady at the desk knew what I was putting the money in for, and that it would be coming right back out.

I only wonder how long it will take for halifax to pick up on this before they notice loads of people start exploiting it, and notice how much money they start to loose from it.

To me, £5 is like an hourly wage so its kind good that you get a free hour's wage

Mikeyorks

tashalove wrote: »

Do you have to have £1000 ready to pay in when you initially open the account? Is there also a penalty for not depositing £1000 in (if for any unforeseen circumstance)?

It's fairly rapid to do online - provided you will pass the ID check. If not - going into Branch is robably easier.

You need £100 to fund and activate the account - which must stay in at least 24hrs. No penalty for not paying in £1k monthly ....... you just don't get the £5 Reward for any month you don't credit the £1k.

tashalove

Thanks again for the replies!

I have since tried applying for the account however I've had to put it on hold.

I haven't started my job yet so I'm not able to confirm my employer especially the part where it asks how long I've worked with my employer. It gives only years and months and I've not even started yet. Does that mean I have to wait at least a month before I can apply?

Also, is it possible to choose the date you want to deposit money every month or does the bank determine this?

YorkshireBoy

tashalove wrote: »

Does that mean I have to wait at least a month before I can apply?

I'd wait...at least until you're on the payroll.

Also, is it possible to choose the date you want to deposit money every month or does the bank determine this?

You choose. However, if you're not paying your salary in to Halifax the best time to deposit (in terms of admin time) the £1K is the 2nd of the month, so you can pick up your free fiver on the way out!