HBOS 0.2% Reward

susanann_2

I have had a Direct Reward Isa 3 with HBOS now for 12months and have not had my 0.2% reward bonus payment for having a current account with £1000 going in each month to qualify for it. Has anybody else been paid theirs.

10_66

From what others have said on various threads about this, it would appear that the bonus is added along with the basic annual interest on 5 April. Tipsychick (on another thread) has said that she has received a statement for September telling her what the bonus interest will be, but hasn't had it added to the account yet. I've sent a letter to Halifax asking for clarification on when the bonus gets added, but have not yet had a reply (I've got a Direct Reward ISA issue 4).

talexuser

I agree it should be paid on the next 5 April following the 1 year anniversary of having the account opened.

So If you want to move the money leave £1 in the account opened to ensure getting the bonus for the time the balance was in there.

susanann_2

I have a letter from HBOS stating the 0.2% is going to be credited to my account on the 8/10/11. This was in response to a phone call earlier this year and is dated 26/7/2011. No sign of it yet. Called them today and have been told will not get it till 5/4/12. They just seem to change the rules as go along. The thing is if you have had your account since Oct 10 that is well over a year to wait for it. Thats why i was keen to know if anyone has had theirs.

iereboy

I must admit I am confused but the whole "rewards" thing recently.

I rang up the call centre and no one could give me a definite answer. Even their web site has changed the "reward page." - No where does it state about the 0.2% extra that qualifying customers get...unless I missed it. Am sure there was a whole page dedicated to that before about the benefits on their webpage.

rb10

The Reward element is paid separately to the main interest, on the next usual interest payment date after the one year period is finished.

So for ISAs whose 1 year period finishes at any point up to 5th April 2012, it'll be paid with the normal interest on 5th April.

calypso_rhapsody

This thread has prompted me to raise a question with myself - maybe someone out there knows the answer? When i opened my Halifax websaver account recently i assumed that my Bank of Scotland private banking current account would qualify me for the 0.2% reward bonus. But it doesn't. It happens that i then opened a Halifax reward current account in order to get the £5 net of 20% tax per month payment.

Should my websaver now qualify for the reward rate? do i need to do anything to make it do so? Or is it a call to customer services to try to find out?

talexuser

You need to be registered, and make sure the offer is still open, so phone or better still get it in writing. My websaver is no longer offered.

susanann_2

I have received a letter from HBOS this morning stating how much my 0.2% reward bonus is and that it will be added at the normal interest payment date 5/4/12. This will be for 8/10/10 to 8/10/11 during which time in March 2011 i upgraded it to the Reward 4 which now runs to March 12. So there will not be enough time to accrue another years reward bonus as these accounts have now been stopped so you will not be able to roll over to a new one leaving . What are they going to do about that. its not our fault these accounts have been stopped with a reward bonus. So anyone else who is doing the same will lose 6months 0.2% bonus.

susanann_2

Sorry typing error should have read 5/4/12.

2010

Stopping these accounts would be a good thing, maybe then they would pay a straight upfront rate and stop trying to bamboozle everyone.
I have asked both in branch and on their telephone helpline if I`m registered and have been assured I am but I`ve never received a letter confirming it.

I would say to anyone who has an account, DON`T just assume you`re getting (maybe) the extra .2%,

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ask them.
Even then you probably won`t know for sure.