Halifax Reward Current Account (to change or not)

SIRUSKEY

Following my previous thread I’m going to stay with the Halifax now I know I will be able to use the Post Office to pay in cheques in the future.

Now I’m popping into the branch tomorrow and every time I go they want to change my current account to the reward current account. My answer is always “NO” followed by a bewildered look then “BUT WE GIVE YOU £5 A MONTH” which gets a response of “IM FINE WITH WHAT I HAVE”.

[FONT=&quot]Now I have been reading about the reward account, which seems to give me £5 a month without changing any of the terms from my current account. Is this really true?[/FONT]

opinions4u

SIRUSKEY wrote: »

[FONT=&quot]Now I have been reading about the reward account, which seems to give me £5 a month without changing any of the terms from my current account. Is this really true?[/FONT]

It does change the terms and conditions, but in a preferential way.

Nothing to lose - go for it. Ask them about the Clarity Reward credit card while you're at it. Another fiver if you spend £300 a month on that (even if you pay it off in full).

SIRUSKEY

opinions4u wrote: »

It does change the terms and conditions, but in a preferential way.

Nothing to lose - go for it. Ask them about the Clarity Reward credit card while your at it. Another fiver if you spend £300 a month on that (even if you pay it off in full).

Got the amex reward so all the spending goes on that

YorkshireBoy

SIRUSKEY wrote: »

My answer is always “NO” followed by a bewildered look then “BUT WE GIVE YOU £5 A MONTH” which gets a response of “IM FINE WITH WHAT I HAVE”.

For how many months have you been throwing free money away?

You've had all the risks, ie £1 per day/£5 per day overdraft charges if you slip up, but enjoyed none of the benefits, ie £60 a year for doing (virtually) nothing.

Now I have been reading about the reward account, which seems to give me £5 a month without changing any of the terms from my current account. Is this really true?

You can compare the Halifax current accounts here...

http://www.halifax.co.uk/bankaccounts/current-accounts/ (the centre and right columns are the key ones for you)

TheMoneySavingNovice

They appear identical apart from the £5 bonus. Am I missing something?

Biggles

SIRUSKEY wrote: »

Got the amex reward so all the spending goes on that

It's still worth putting the first £300 (excluding supermarkets) on the Halifax Clarity Reward card, as that works out at 1.67%, then reverting to the Amex for the rest of the month's spending.

ses6jwg

why wouldnt you upgrade?

We get similar customers in work (santander) they have the standard current account meet all the criteria for the zero current account upgrade, hassle free no change of account numbers, cards etc, no monthly fees, just 5% and free use abroad.

but some people won't do it, you can't give people free money sometimes.

SIRUSKEY

[FONT=&quot]Well I paid in my cheque, upgraded my current account, opened an ISA, closed a savings account and got a quote for home insurance. Not sure how it all happened![/FONT]

Old_Wrinkly

ses6jwg wrote: »

why wouldnt you upgrade?

We get similar customers in work (santander) they have the standard current account meet all the criteria for the zero current account upgrade, hassle free no change of account numbers, cards etc, no monthly fees, just 5% and free use abroad.

but some people won't do it, you can't give people free money sometimes.

If there are NO downsides, can't Santander simply 'upgrade' these accounts automatically?
After all, they transferred people from A&L etc current accounts to Santander ones without asking the customers.