Halifax Reward £5 question

retiredin2011

Quick Q about the Halifax Reward Account.

I have a Halifax Reward Account, a BOS vantage account and a savings account with just over £1000 in it that I use to get the £5 reward.

Each month I transfer £1000 into and straight out of the Reward Account from the savings account for the £5.

This is all I use the Halifax Reward Account for as I opened a joint BOS Vantage Account as our main account for income and direct debits.

I suppose I can put £500 into the Halifax Reward Account then into my BOS Vantage Account then into the Reward Account and then into the savings account instead of £1000 in and out?

That way I just need £500 instead of £1000 in savings.

opinions4u

Or you could move £100 in and out ten times.

Personally I'd rather have £1,000 in savings than £500.

YorkshireBoy

The £1,000 'make-up' doesn't matter.

It could be 2 x £500, 10 x £100, etc.

retiredin2011

Personally I'd rather have £1,000 in savings than £500

I have more than £1000 in savings which are in another account.

I just use that one for the £5.

Is the £5 reward considered part of the £1000 so I just need to transfer £995 per month?

YorkshireBoy

retiredin2011 wrote: »

Is the £5 reward considered part of the £1000 so I just need to transfer £995 per month?

You need to credit £1K per month.

If you do that, they credit £5 the following month.

Shah79

Funnily enough, this weekend my friend spoke to me about this. And yes, as YorkshireBoy has stated. As long as you debit £1000 (in any way) into your account - then you will receive the £5 reward.

I believe this is a good deal, for shuffling some of your money around.