Halifax and Bank of Scotland 6.17% Higher Interest Account

mary

I hoped it would be possible to gain the £100 twice over as it is advertised separately on the Halifax site and the Bank of Scotland site!! Having just enquired, you are only eligible for the £100 once, as it is the same company. However there's nothing to stop you opening a BOS account anyway, if you've got some spare cash and profiting from 6.17% on effectively 2 x £2,500 in each account. You cannot transfer £1,000 each month from one account to another, as the money has to come from an external source.

So you have to calculate the lost days in interest in keeping your money with say Coventry First at 5.85% and transferring £1,000 each month in and out in order to benefit from the 6.17%

YorkshireBoy

mary wrote:

You cannot transfer £1,000 each month from one account to another, as the money has to come from an external source.

Can you provide a link to this clause Mary, because I've looked and can't find it.

mary

Can't provide a link. That's what the guy on the phone told me in Customer Services. Of course, always a reliable source of information!

YorkshireBoy

The RBS £100 incentive last year required your salary to be switched. The A&L offers stipulate 'new' money. The Barclays regular saver required your salary to be paid to a current account with them.

We're opening a pair of these 6.17% accounts and to me it looks like we can just deposit a total of £5K and simply shuffle money around to meet the funding requirement to "just pay in £1,000 or more every month".

Halifax haven't thought this one through very well have they?

regularsaver1

Thats probabaly cause they have their new current account coming out on Monday 19th (Ultimate Reward Current Acc, also paying 6.17%), they have been preparing for

I do prefer it when they concentrate on one thing at once, rather than loads