Help convincing friend to open Halifax Reward Current Account

pmduk

I'll repeat, it's normal to advise someone, but OTT to come onto a forum to ask others to join into this campaign. If you post on a public forum you must expect there to be others who disagree with you. It's not as if anyone has been rude to you.

Sam_Malone

I don't see a problem with you recommending they open a Reward Account.

It's a good account, you make money from it, and if your friend does not want to open it I'm sure they will tell you.

To suggest you have a campaign is ridiculous and I don't see any of your posts as OTT.

innovate

Yes sure, on a public forum, especially one as popular as MSE, you have to expect to meet people with different views.

Personally, I find nothing objectionable to using MSE to "drum up support" to your views, as long as they aren't racist or abusive etc, and I most definitely do not find anything objectionable in trying to convince someone to making 6% AER (for basic rate tax payer) from a grand.

Sure, £60 might be peanuts and of no interest whatsoever to someone who has £10K. I have a lot more than £10K myself, and I definitely go for it (on 2 accounts, in fact - I joined 'the party' too late for 3 accounts....). When I first looked at it, I just shrugged my shoulders over a fiver a month, but then I realised it takes a tiny amount of effort to set everything up. It's a week's worth of food, or 10 bottles of very drinkable wine, or 2 great takeways for 2, or a couple of good cinema tickets, or a free mobile phone all year, or whatever you do with £60 - - - all at absolutely no risk. Repeats every year (so far).

Appreciate that you need to keep an eye on your accounts and the T&Cs, but that's just life. If you want to grow your money, and/or make the best return from it, you have to keep looking after it. In the case of Halifax, it will take a minute amount of effort to stop the SOs for the £1K monthly deposit, as and if Halifax change the T&Cs for the worse.

Of course, I do loads more - First Direct, HSBC and Nationwide Regular savers, Lloyds Vantage accounts, Santander 123 for interest and cashback, best rate cash ISAs and so on - - - in total yielding not just £60 but into the thousands per annum which I wouldn't get if I didn't make my money work for itself.

Hope the friend/colleague will read this and either take some encouragement from it, or tell his mate to just leave him alone with those MSE-type ideas ;-)

Sam_Malone

innovate wrote: »

Personally, I find nothing objectionable to using MSE to "drum up support" to your views, as long as they aren't racist or abusive etc, and I most definitely do not find anything objectionable in trying to convince someone to making 6% AER (for basic rate tax payer) from a grand.)

It's even better than 6% if you leave the £1,000 in for a nano second.

From the OP's post it looks to me like their friend asked them to help. The OP responded by suggesting Halifax. I dont think the op would have bothered further if he thought a seed had not been planted.

This is supposed to be a money saving web site and I doubt the op is bullying or asking others here to help force someone into having the Halifax account, just encourage, and there is nothing wrong in that.

Harassing them - don't make me laugh:rotfl:

Pepper08

I'm new to all of this, but looking into how best to manage my money and came across the Halifax Reward account. If I put £1000 into the account at the start of the month, am I ok to move it into a savings account a few days after and still get the £5 even though by the end of the month there isn't £1000 left?

I think helping a friend to best make what they can with their money is perfectly acceptable - I wish I had someone in the know to assist and advise!

poorgirl-54

andy- maybe ur boss earns so much, £5 is not worth the hassle, thats why your having to convince him of the benefits

scummy1

"I'm new to all of this, but looking into how best to manage my money and came across the Halifax Reward account. If I put £1000 into the account at the start of the month, am I ok to move it into a savings account a few days after and still get the £5 even though by the end of the month there isn't £1000 left?"

I transfer £1000 in & out about 2 / 3 minutes later, back to my ordinary bank account, into 2 Halifax reward accounts. Works great! £120 net on £1000, you can't beat it!. Luckily I got two Halifax accounts by mistake, but I don't complain about 12% net interest a year on £1000! No doubt others get even more than I do, but the money is only in my Halifax accounts for a maximum of 5 minutes a month.
Regards etc.

scummy1

Sorry, #26!