Halifax reward accounts

andyj81

Hello, I have three reward accounts all running well for the last year. Just one question: I remember reading that the minimum balance was £100 but recently reading through as many terms as I can find It says you can go overdrawn just as long as 1K enters the account then the reward is paid !

Can someone just confirm if you just keep say £1 but then pay 1K in each month then the reward is paid ?

I have opened up a sharebuilder so will skim off £99 from each account (leaving £1) to start the sharebuilder account off.
Andy.

adindas

Dear andyj81

I could confrim this base my own experience I tranfer it in £1000 and than I transfer it back ... I just have one reward a/c

How could you get 3 A/c ? Is it under your own name or, It is under seperate name e.g. you, your wife and Join A/C. If you could share your experience it will be great ...


ADINDAS

andyj81 wrote: »

Hello, I have three reward accounts all running well for the last year. Just one question: I remember reading that the minimum balance was £100 but recently reading through as many terms as I can find It says you can go overdrawn just as long as 1K enters the account then the reward is paid !

Can someone just confirm if you just keep say £1 but then pay 1K in each month then the reward is paid ?

I have opened up a sharebuilder so will skim off £99 from each account (leaving £1) to start the sharebuilder account off.
Andy.

danothy

As I understand it you only need the £100 to be in the account overnight at the beginning to activate the account and get the card and chequebook etc. after that it's plain sailing.

noh

There is 1p in each of my 3.

YorkshireBoy

adindas wrote: »

How could you get 3 A/c ? Is it under your own name or, It is under seperate name e.g. you, your wife and Join A/C. If you could share your experience it will be great ...

The T&Cs changed late last year. Previously, and from launch in early 2009, you could have 3 in your own name.

I have 4 in my sole name because I redesignated my HICA a Reward account around the time of the T&C change.

king100

Rather than start another thread,

just opened up an account with halifax both myself and my dad.

I will keep £100 in both

So i transfer £1000 to dads then £1000 to mine then back out and we get £5 per month.

That simple?

YorkshireBoy

king100 wrote: »

I will keep £100 in both

That unnecessary balance will lose you £4 a year (nearly a lost month of Reward) between you in lost interest elsewhere. Why not keep £1 (as I do) or 1p (as an earlier poster does) in there?

That simple?

Yes.

adindas

Is it allowed to open multiple account. I mean under single name.
This is useful fr person who do not have realtive who they could collaborate (partner, ded, etc, ..)

ADINDAS

king100 wrote: »

Rather than start another thread,

just opened up an account with halifax both myself and my dad.

I will keep £100 in both

So i transfer £1000 to dads then £1000 to mine then back out and we get £5 per month.

That simple?

king100

YorkshireBoy wrote: »

That unnecessary balance will lose you £4 a year (nearly a lost month of Reward) between you in lost interest elsewhere. Why not keep £1 (as I do) or 1p (as an earlier poster does) in there?Yes.

Superb will do that then.

LongTermLurker

adindas wrote: »

Is it allowed to open multiple account. I mean under single name.
This is useful fr person who do not have realtive who they could collaborate (partner, ded, etc, ..)

ADINDAS

Not any more - as YB says, the terms changed last year. Prior to that, there were some people claiming to have up to 6 as they opened both Halifax and BOS accounts.

Can anyone confirm if HBOS stamped on that and "consolidated" them?

KTF

LongTermLurker wrote: »

Can anyone confirm if HBOS stamped on that and "consolidated" them?

In my experience, not yet .