Catch behind Halifax's account switch £100 offer?

cocopops21

I've just seen this on tele and wonder if there's some kind of monthly fee or something that must be paid if you switch to a halifax account?

We have a regular no frills account with a different bank so wouldn't mind switching to similar with halifax but not if it's going to charge us monthly fees and such.

Anyone make the switch? What has been your experience?

chanz4

no fees, must pay in 1k a month

pinkdalek

chanz4 wrote: »

no fees, must pay in 1k a month

No fees, just move your direct debits and credits across and you don't need to pay £1k in per month, just your regular salary, not everyone out there earns >£1k per month.

You just get the £5 reward or £10 per month fee on the Ultimate Reward Account if you can pay in £1000 per month.

Gromitt

If you get £800/month salary then you can just withdraw some of it and deposit again to meet the £1000/month target. Eg. savings account.

innovate

If you ever get overdrawn, understand the charges - they are sky high.

cocopops21

ah ok thanks guys. Seems like a good deal then.

Innovate, you're right. I did look up the overdraft charges and they are outrageous.

pinkdalek

cocopops21 wrote: »

ah ok thanks guys. Seems like a good deal then.

Innovate, you're right. I did look up the overdraft charges and they are outrageous.

Then don't use it, however if you are funding the account with £1000 per month, then you happen to use the overdraft for a few days eg 5 days towards the end of the month then the fees are covered by your reward payment.

If you're constantly in an overdraft maybe it's worth considering and looking at how to get out of it?

cocopops21

pinkdalek wrote: »

Then don't use it, however if you are funding the account with £1000 per month, then you happen to use the overdraft for a few days eg 5 days towards the end of the month then the fees are covered by your reward payment.

If you're constantly in an overdraft maybe it's worth considering and looking at how to get out of it?

Ok if you've got any ideas on how I can get out of $100,000 of student loan debt from American loan companies on a minimum wage, then I'd love to hear it. Maybe then I can stop being in overdraft all the time . Why didn't I think of that?:T

pinkdalek

cocopops21 wrote: »

Ok if you've got any ideas on how I can get out of $100,000 of student loan debt from American loan companies on a minimum wage, then I'd love to hear it. Maybe then I can stop being in overdraft all the time . Why didn't I think of that?:T

Declare yourself bankrupt, start all over again after 12 months.

cocopops21

pinkdalek wrote: »

Declare yourself bankrupt, start all over again after 12 months.

Can't. America's not as forgiving as Britain. Student loans are never pardoned even if declaring bankrupt.