Halifax reward account

allisonw

I am in the process of opening a Halifax reward account to get £5 every month as I have decided to ditch my RBS non interest paying current account. Previously it was an interest paying current account.

My monthly income is less than £1000 but I do have a few £100s in an other RBS savings account that I can pay in and withdraw each month to make it £1000. Last monthly interest was 29p

So when should I top up the account to £1000 and when should I remove the excess?

YorkshireBoy

allisonw wrote: »

So when should I top up the account to £1000 and when should I remove the excess?

You need to have credits totalling £1K each calendar month. Monies can be removed immediately, subject to Halifax's FP system working!

savemoney

As long as you have 1k in each month it can go in dribs and drabs but must be 1k+ then you qualify the following month for £5 you can then take the money out within minutes of it reaching 1k limit. You usually get £5 on 2nd day well I do

I have 3 accounts which I move £1k in each one, just 1k thats all I have it in and move it to each account

Squish_21

If you dont pay the £1k in, is it purely a case of you dont get the £5? No other ramifications?

noh

Squish_21 wrote: »

If you dont pay the £1k in, is it purely a case of you dont get the £5? No other ramifications?

Correct.
Although the current T+Cs say you must pay in £1000 pm. No one has reported any consequences when not doing so.