Halifax Ultimate Reward Current Account - Changes

Midzone

After looking at the benefits of the URCA and after discussing with branch staff, I decided to upgrade my account - the information pack arrived today stating:

1. From September the price of the benefits account will increase from £12.50 to £15.00 per month (although £10 with the £5 reward).

2. Purchase Protection, Price Promise, Discount Card Scheme and Travel Accident Cover - are all being removed from September.

3. Mobile Phone Insurance - if you have an iphone the excess is rising from £30 to £100

The AA cover will now include Home Start and Home Insurance covers tennants - but all in all I feel like I've been sold a dud so have cancelled.

jambosans

The "Getting Started Guide" has been updated to reflect these changes, see Pg. 10:-
http://www.halifax.co.uk/bankaccounts/pdf/HXURCAT&Cs.pdf

opinions4u

Midzone wrote: »

Purchase Protection, Price Promise, Discount Card Scheme and Travel Accident Cover - are all being removed from September.

All frills with little real value. The Price Promise was quite good, but I prefer to pay on my credit card for cashback and S75 cover.

Mobile Phone Insurance - if you have an iphone the excess is rising from £30 to £100

Mirrors LTSB accounts and speaks volumes for the breakability of an iPhone. £30 excess for all other phones remains (I think).

The AA cover will now include Home Start

That's big news. They used to charge over £50 to upgrade to Home Start, so an extra £2.50 a month is worth paying for many people.

but all in all I feel like I've been sold a dud so have cancelled.

I've always said with these accounts that it's important to make sure they offer you value for money. If they do, snap them up. If they don't, buy independently and use cashback sites too.

£10 a month for annual family travel insurance, mobile phone cover and proper breakdown cover strikes me as good value. I've never been a fan of breakdown cover without Home Start as 50% of the time I try to start my car is on my own drive.

atlantis187

What about AA roadside relay will that be covered?

jambosans

atlantis187 wrote: »

What about AA roadside relay will that be covered?

No.

Halifax wrote:

Improvements to your AA Breakdown Cover: We’re making this benefit even better. From 1st September 2011, we’re adding AA Home Start so you’ll be covered wherever you are – even if your car breaks down at your home. This addition is worth over £50 a year.

It might be worth reading the PDF I linked above.

pjread

Do you think at the top of the second column of page 19 they intended to put;

"We should use the benefit wording they gave when explaining the changes in the leaflet, but not include it in the literature"

Someone shoot the proofreader eh?

chinamanlow

I never understand why people pay in the UK to have a bank account??? if you individually break up these "benefits" you can get them much cheaper or like mobile phone insurance it can go on your home ins'
This is how scumbag banks still make bucket loads,the reward account interests me only when they pay ME £5 a month for paying my wages in not the other way round. Even martin lewis says these things they "give" you are better purchased on their own.
Just think if you get a million stupid people to give you £15 a month for their own account,thats £180 million a year for nothing! Amazing ! Banks leech off your money anyway through investment.Banks are like drug dealers,every pound you make they make 2.

chinamanlow

Always remember a fundamental fact in life....thats helped me save alot over the years on everything "everyone is on the take" salespeople will tell you black is white to sell and then stereotypical naff customer service then comes into play etc.
Even when you get your money out of an ATM they want to take eg; £2 off you,bank workers are merely corporate robots trying to sell "products" that make the bank and themselves commission,it wont benefit you as much as them.
I go into Barclay's and they try to sell me debt cause i have a high balance.....DEBT=PROFIT always keep that in mind.Ive never owned or am stupid enough to own a credit card or store card.....these items just leech off APR % plus purchases you cant afford at that moment.
The country lives off the never never and thats why were in so much trouble....people dont ask themselves "do i really need it?" "can i afford it ?"
I hate salespeople and make them sweat and work for their money or they get off once they see you're not easy prey.Its all about knowing whats available to you and doing research.

richardc1983

chinamanlow wrote: »

I never understand why people pay in the UK to have a bank account??? if you individually break up these "benefits" you can get them much cheaper or like mobile phone insurance it can go on your home ins'
This is how scumbag banks still make bucket loads,the reward account interests me only when they pay ME £5 a month for paying my wages in not the other way round. Even martin lewis says these things they "give" you are better purchased on their own.
Just think if you get a million stupid people to give you £15 a month for their own account,thats £180 million a year for nothing! Amazing ! Banks leech off your money anyway through investment.Banks are like drug dealers,every pound you make they make 2.

Disagree... how can you refer to people as idiots? Your the idiot for not doing your research properly. If you can find all the things that are included in the reward account for cheaper than £15 a month (well its really £7.50 a month as if you pay in over a £1000 they give you £5).

AA breakdown, home emergency breakdown, phone insurance, travel insurance.

When I look for travel insurance for myself im quoted about £10 at the post office or £7 on the internet... yet Halifax are charging £7.50 and you get all the things above and more for £7.50.

Phone insurance for an iphone I have had quotes upto £20 a month on its own yet halifax offer it for £7.50 along with everything else... I dont drive so dont use the AA breakdown but the phone insurance is worth having the account on its own.

I'm about to pass my driving test so the AA breakdown will come in well especially as it will cover you from home.

Home emergency cover will cover tennants too so thats something else I am getting for £2.50 extra a month.

Bloody good deal I think, but again if you can report back where you can find all those things separate cheaper than the overall £7.50 halifax are charging for a complete package then I am willing to bet next months wage on it that you can't!

apt

The Halifax Ultimate Reward is going to cost £15 per month. There is no logic in deducting the £5 per month reward from the cost as you could have this reward without paying any fees. Richardc it is your logic that is flawed. You need to price up the cost of mobile phone insurance as part of household insurance cover not a standalone policy. You also seem to be comparing the one-off cost of a single trip travel insurance policy with the Halifax Ultimate Reward fee which is payable every month whether or not you are going on holiday.

richardc1983

I go away 4 or 5 times a year. Also again the phone insurance for an iPhone is upto £20 a month. Then there's as breakdown cover as well still so much cheaper than buying separately.

Again I invite you to show me where I can get each individual things cheaper.
You haven't mentioned aa breakdown or the home emergency cover.

Even if u didn't have a mobile phone it would be worth it just for those.