Halifax Account £5 for £1,000 deposit

tully87

If I were to open a halifax account, I would need to put in £1,000 a month to recieve the £5-a-month bonus. Does that money have to stay in the account or can you transfer the same £1,000 out of the account and into another one and then transfer the money back in and still receive the £5-a-month?

opinions4u

Welcome to MSE.

The £1,000 credit only has to stay there for a few seconds.

(The initial £100 minimum opening balance needs to remain in the account overnight to generate the debit card).

GillM

tully87 wrote: »

If I were to open a halifax account, I would need to put in £1,000 a month to recieve the £5-a-month bonus. Does that money have to stay in the account or can you transfer the same £1,000 out of the account and into another one and then transfer the money back in and still receive the £5-a-month?

Yes, you can move the money out then back in again. When I opened the account over the phone it was the Halifax chappie who told me that! :j

tully87

Thanks for the advice....one other thing. Does anyone know if there is a limit on how many Halifax accounts you can have? I am also looking to set up a current account with Santander as my proper account, would this cause any conflict?

blueberrypie

You can have one Halifax Reward account in your own name, and one held jointly with someone else.

You can have current accounts with as many different institutions as will accept your applications - no conflict involved. But I'm not sure I'd use the words "proper account" to describe anything Santander offer - you might (as many others before you) live to regret choosing to bank there.

(Also, have a look through this forum for info on both the Halifax Reward account and Santander's service. Lots of stuff about both.)