Halifax £5 Reward Current Account

Cmdr_Bond

Azrael_1701 wrote: »

The £5 from the clarity card goes as a credit onto your card statement, not into your current account.

In that case, can you not spend £300 but pay off £295?

Cmdr_Bond

Llubrevlis wrote: »

Can you please tell me more? Got any links to these vantage accounts?

I thought I was doing well to get 5er from Halifax

Vantage -> https://www.lloydstsb.com/current_accounts/vantage.asp

Pllus -> https://www.lloydstsb.com/current_accounts/classic_and_classic_plus_accounts.asp

jennifernil

Cmdr_Bond wrote: »

In that case, can you not spend £300 but pay off £295?

It does work that way, but the £5 comes off your following months spend, not the £300 you spend in the month.

jennifernil

dtaylor84 wrote: »

The £5 reward is already net of tax.

Yes, but a non-taxpayer (like myself) can reclaim using an R40 and get back the £1.25 deducted from each fiver. Last year this was an extra £52.50 for me (1 joint a/c + 3 sole a/cs)

And a higher rate taxpayer would of course need to pay an extra £1.25 tax on each fiver.

jennifernil

Mikeyorks wrote: »

........... if you're doing that via online ...... I reckon you need to register with HMRC as self employed! Not sure what the description of trade would be, however. Choose 'entrepreneur' if all else fails!

All set up on S/Os as we travel abroad quite a bit, so HBOS and Lloyds are doing the hard work themselves!

Now Vantages are full I need to set up something to move out the interest every month, tricky as it varies, I will just need to go with an average.

Cmdr_Bond

jennifernil wrote: »

It does work that way, but the £5 comes off your following months spend, not the £300 you spend in the month.

fine - then pay off the entire bill the first month and then entire bill -£5 each subsequent month. (just spend £305 instead of £300 just to cover yourself )

toemit

Hi, If i was tp upgrade to this account from my normal current account, will my agreed overdraft limit remain unchanged??

tuggy12

jinkster wrote: »

There is nothing to stop you from transferring £1000 in and then straight back out again.

Could someone please confirm this is still correct.

Thanks.

crispy_chris

tuggy12 wrote: »

Could someone please confirm this is still correct.

Thanks.

Consider it confirmed, it's exactly what I do!

savemoney

Its what I do. I transfer £1000 from a Halifax reward saver which pays interest to mine, OH, joint and two kids accounts.

tuggy12 wrote: »

Could someone please confirm this is still correct.

Thanks.