Got £5000 In a llyold Vantage Account

Newbie2saving

MoneySaverLog wrote: »

They did and I'm surprised you still have 3, I would not call up customer services or let on to them in anyway cause they are likely to close the other two down if you do.

I had an issue recently with my ISA and they gave me £25 in compensation, followed by another £50 directly into my reward account. I slipped up when they asked me which account I wanted the payment into, "any of the 3 will be fine", oopps! Nearly shot myself in the foot!

Newly_retired

I have 3 x LTSB @ 3% on £5000 and 2 x Halifax rewards @ £5 pm on £1 minimum for cycling £1000 through them all.

anamenottaken

Newbie2saving wrote: »

PS. You need to keep a balance of £1 in each reward account you have. So for the majority of the time the account has a really low balance, then you get £60/yr for passing the £1000 through it. Like I said I have 3 so £180 for a few minutes work each month, some people have more, but I am not sure if Halifax tried to draw a line under more than one.

Why is that? I certainly don't keep credit balances in my Halifax Reward current accounts at all times, just move at least £1K through each every month and pick up the £5/account.

I have two Halifax Reward current accounts, one with an overdraft and one without. I used to have to keep 1p in the account without an overdraft as it wouldn't let me move the final penny but now, since the system changed (ie same as LTSB), it allows me to reduce the balance to zero.

Newbie2saving

anamenottaken wrote: »

Why is that? I certainly don't keep credit balances in my Halifax Reward current accounts at all times, just move at least £1K through each every month and pick up the £5/account.

I have two Halifax Reward current accounts, one with an overdraft and one without. I used to have to keep 1p in the account without an overdraft as it wouldn't let me move the final penny but now, since the system changed (ie same as LTSB), it allows me to reduce the balance to zero.

Things may well have changed since the introduction of the new system, but when the accounts were first available a balance needed to be kept (in my case certainly) otherwise the FP system wouldn't work. I'm still working to the same principal on my 3.