Halifax Reward Account -£1,000 per month

epm-84

The terms seem to suggest if you fail to pay in over £1,000 in a particular month then you just miss out on the £5 reward. Is that the case or would they immediately convert you to another type of account if you don't get £1,000 paid in one month?

http://www.halifax.co.uk/bankaccounts/pdf/reward-current-account-guide.pdf

spadoosh

Yeh you just miss the £5 that month. Dont worry about it too much its quite easy to fiddle. Just move your money around between accounts, not bright enough system to work out that you transferred £200 to savings and then deposited £200 from savings will only notice total deposits.

j2011

Is the £5 reward considered part of the £1000 so I only need to pay in £995?

trikidy

j2011 wrote: »

Is the £5 reward considered part of the £1000 so I only need to pay in £995?

No, deposit £1000, your balance would be £1005

st999

No, deposit £1000, your balance would be £1005

Yes but then £1005 would have been deposited into the account that month would it not?

If the account month runs from 15th month to 14th month and £5 reward and £995 deposited on 15th month so £1000 deposited that month.

trikidy

st999 wrote: »

Yes but then £1005 would have been deposited into the account that month would it not?

If the account month runs from 15th month to 14th month and £5 reward and £995 deposited on 15th month so £1000 deposited that month.

Correct, but without depositing £1000, you won't get the £5 deposited. Therefore you deposit £995, your deposits for the month would be £995, thus you would not qualify for the offer as the offer requires you to deposit at least £1000.

opinions4u

The trigger amount used to be £950. No idea if it still is now that they've moved onto the LTSB platform.

Jevvers

Does anyone know if you can "blip" the money in and out in one day or does it have to stay in overnight? I've checked the Ts&Cs but can't find the answer.

I have this account with no money in it since switching to FD but I want to use it as a staging post for cash going to a regular saver, so that I get the £5 on the way.

Scrounger

Jevvers wrote: »

Does anyone know if you can "blip" the money in and out in one day or does it have to stay in overnight?

Yes, 1 second is long enough. :beer:
Scrounger

Jevvers

Excellent, thanks

epm-84

Just gone through the application process (I have a online Halifax savings account so I could do the short one online.)

It said if my application is approved a PIN and Debit Card will follow in 5 working days but didn't mention a paying in book or cheque book. Neither did it ask which branch I want to hold the account at. What will happen about those two things?