Get your own back - Charge your bank over one googol % interest

YorkshireBoy

Mikeyorks wrote: »

So I presume you fund from externally? But I still thought that would show as immediately available.

It does with my Reward accounts, whether it comes from LTSB*, HSBC, Co-op, NatWest, or wherever I choose to send it from that particular month.


* And it did before the systems integration as well.

Biggles

Mikeyorks wrote: »

So I presume you fund from externally?

Yes, from my Lloyds current a/c. Halifax doesn't have any other accounts that would tempt me to keep an amount of any size in at the moment.

But I still thought that would show as immediately available.

It shows on the statement immediately but can't then be moved, even internally, until it shows as 'available funds' an hour or two later.

noh

Biggles wrote: »

Yes, from my Lloyds current a/c. Halifax doesn't have any other accounts that would tempt me to keep an amount of any size in at the moment.

It shows on the statement immediately but can't then be moved, even internally, until it shows as 'available funds' an hour or two later.

Weird.
Im fairly sure If I transfer money from external accounts to a Halifax current account via FP when it shows on the statement then it is cleared funds available to be moved elsewhere immediately.
I will try a transfer from Lloyds to HFX now to see what happens.

noh

Just tried £10 from Lloyds Vantage to Halifax current account.
It was transferred immediately, showed in the available balance of the HFX account immediately and I was able to move it elsewhere without delay.
All in less than 2 minutes.
Lloyds to HFX goes as an internal transfer (TFR) rather than FP

brightonman123

and while they give you £60 or whatever per year.. they charge borrowers ££??

noh

brightonman123 wrote: »

and while they give you £60 or whatever per year.. they charge borrowers ££??

An amount that has no relevance if you do not borrow.

opinions4u

brightonman123 wrote: »

and while they give you £60 or whatever per year.. they charge borrowers ££??

Who cares?

jamesd

1Amigo wrote: »

Simply open yourself a halifax reward account. Transfer in £1000 and then transfer it back out again. Shouldn't take you longer than 10 minutes. Your £5 payment is now due.

Be sure to do this from an account with an overdraft facility so that you need none of your own money to do it. Intraday overdraft to pay it in and paying it back to clear the overdraft.

You are now using none of your own money so your interest rate is infinite.

noh

jamesd wrote: »

Be sure to do this from an account with an overdraft facility so that you need none of your own money to do it. Intraday overdraft to pay it in and paying it back to clear the overdraft.

You are now using none of your own money so your interest rate is infinite.

As I already pointed out in post #9
Even more satisfying if the overdraft is available on the same Reward account.

Gromitt

Fine until online banking encounters a "technical problem" and meanwhile you are panicking because you have a £1000 overdraft.