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Questions about Halifax Reward account
flergalwit
Posts: 71 Forumite
I recently switched to a Halifax Reward account to obtain the £5/month bonus. A few questions I couldn't find answers to in the terms and conditions (though it's quite possible I missed something).
(1) If I switch away to a different bank but keep the Halifax one open, do I still get the £5/month as long as I'm paying in the £1000? I think yes but am not totally sure.
(2) I read somewhere else on this site that it's possible to have 3 Halifax Reward account open at once and thus to get the £5 thrice over. Is this still true? If so is this affected by switching?
(3) If I've used the switching service recently, can I switch again? Are there limits to how often you can switch between providers?
(I may need to 'switch' to Nationwide to get their ISA despite only just switching to Halifax.)
Thanks!
-F
(1) If I switch away to a different bank but keep the Halifax one open, do I still get the £5/month as long as I'm paying in the £1000? I think yes but am not totally sure.
(2) I read somewhere else on this site that it's possible to have 3 Halifax Reward account open at once and thus to get the £5 thrice over. Is this still true? If so is this affected by switching?
(3) If I've used the switching service recently, can I switch again? Are there limits to how often you can switch between providers?
(I may need to 'switch' to Nationwide to get their ISA despite only just switching to Halifax.)
Thanks!
-F
0
Comments
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1) Yes. The only requirement for the fiver is to fund the account with £1000/month and that's all.
2) You can have 1 single account and be co-beneficiary in a joint one. So 2 accounts per person. You need 2 people for 3 accounts (1 single each, and a joint).
3) No idea. Why not?You wanna hear about my new obsession?
I'm riding high upon a deep recession...0 -
2) I believe some people have managed to get 3 of these accounts each in the past, though I also heard that Halifax are closing these on discovering them when you contact the bank on the phone or in branch most likely they'll find out and close them.0
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When the Reward Accounts opened you could have up to 3. But some get closed now because of the way people just transfer money in and then straight back out again to get the £1000. If you use the 2 or 3 accounts normally (have DDs on it.etc), however many you have, then it's less likely to get closed. But that wont affect you OP0
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Can one transfer in £1000 just to earn the fiver then transfer it back out again.0
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