Halifax £100 Opening Bonus

shymanuk

think they make it up as they go along ........... what would the regulatory body say about the way they conduct their actions as a bank.ie not clear terms etc moving the goal post etc .if they stop the reward accounts i would think many would just move to the next offer. or find a way arround it.

Paragon

whitewater wrote: »

You must switch a wage or benefits credit, failure to do so will forfeit the offer, a transfer from another bank acc is not sufficient.

What is your source for this? It is not in the Terms and Conditions, therefore I don't see how it can apply.

Paragon

I applied for this 11 days ago and have heard nothing back yet. Has anyone else heard back and if so how long did it take?

u704446

Paragon wrote: »

What is your source for this? It is not in the Terms and Conditions, therefore I don't see how it can apply.

Have a look at the "Halifax £100 Lure..." thread.

pqrdef

whitewater wrote: »

Also a minimum transaction amount will be placed on reward account at the end of 2012 to stop people being able to claim the £5 without having main banking with Halifax.

But if you're already moving £1000 in and moving £1000 out every month, what more do they want?

I make a point of having my income paid into accounts that I don't use for anything else. Having an all-purpose main account is an accident-prone system that I prefer to avoid.

YorkshireBoy

pqrdef wrote: »

But if you're already moving £1000 in and moving £1000 out every month, what more do they want?

They want you to use it as your 'main account', and abandon the account you're 'switching' from.

Sadly, or fortunately depending on your viewpoint (;)), they don't stiplulate they require salary (in the form of a BACS Direct Credit), a certain number of DDs, the odd smattering of debit card payments, weekly ATM withdrawals, and the occasional cheque issued, in the T&Cs.

Until they do, they will continue to be exploited by those in the know on here and other financial forums.

whitewater_2

you are wrong yorkshire boy, account quality team are checking each account given the £100 reward and if the salary/benefit payment is not transfered the £100 is removed.

To take part in the switiching service for this you have to fill in the credit details form online or in branch and if the credit doesnt match you dont qualify.

If you choose to interpret the t&c's differently thats your choice, the banks interpretation is what gives the money.

Also the previous bank will provide details of direct debits/standing orders as to when they were set up and when they were last paid so using old ones not in use doesnt work either.

Gromitt

pqrdef wrote: »

But if you're already moving £1000 in and moving £1000 out every month, what more do they want?

They want to see your salary paid into the account, and if they don't see it, the account quality team will remove the £5 from your account

If this happens then I'll simply close my Halifax current and savings accounts as I don't really like the CS or OLB. The £5 is the only reason I'm leaving my savings in the Halifax.

YorkshireBoy

whitewater wrote: »

you are wrong yorkshire boy, account quality team are checking each account given the £100 reward and if the salary/benefit payment is not transfered the £100 is removed.

To take part in the switiching service for this you have to fill in the credit details form online or in branch and if the credit doesnt match you dont qualify.

If you choose to interpret the t&c's differently thats your choice, the banks interpretation is what gives the money.

Also the previous bank will provide details of direct debits/standing orders as to when they were set up and when they were last paid so using old ones not in use doesnt work either.

I've had a branch switching incentive paid before from Halifax.

I switched two hastily set up SOs from a donor account (that had only been paid once...just two days before Halifax requested the details) and agreed to pay my salary in. Halifax took my employers details and promised to write to them. They never did, and I switched it myself at a later date.

My incentive was paid there and then in branch (as a credit to the account, but I could also have had a bundle of tenners in my hand!).

Just to round off...the T&Cs of that switch, as given to me at the time, were exactly the same as those for the current offer.

I understand you work for Halifax, and that your employers have informed you of 'behind the scenes' T&Cs/actions to be taken, but a) I don't believe for one moment we'll see a glut of posts on here grumbling that they've withdrawn £100 from customers' accounts, and b) if they do start doing that I'll be advising those posting to take their complaints to the FOS.

whitewater_2

and they will fail in those complaints, simple as.
This is the first time the switches have been put to account quality checking, previously it was all dealt with in branch so very easy to get around in the past.

So far ive withdrawn 7 i think £100 incentives that shouldnt have been paid, each time the customer lied to the interviewing staff member.

The customers are being advised while doing the switch that the salary/benefit is included in the 'regular payments' and the direct debits/standing orders must all be switched (there must be a minimum of 2)