Halifax relaunches £100 switching offer

YorkshireBoy

Halifax are relaunching their £100 switching offer. It'll run until 2nd December and the £100 is paid as soon as the switching process has begun.

Nothing on their website yet, or on the LBG media site. Just seen a TV advert and a quick google throws up...

http://www.lovemoney.com/news/credit-cards-current-accounts-and-loans/current-accounts/17919/halifax-relaunches-100-current-account-switching-offer

ecoelle

Thanks for the link to lovemoney.com, not seen that site before:)

stormCat99

Thanks for that link, hadn't seen that before.

I'm afraid I'm going to ask the usual question...in the Ts and Cs it says:

"Switching to us means transferring all of your active direct debits (a minimum of two, otherwise we have the right to claim back the £100) and other regular payments, plus automated credits, e.g. your salary, into your new Halifax current account."

Now, the account I wish to switch is NOT my main account. It has 2 DDs, so that satisfies the first part of the criteria. However my salary is not paid into the account I'll be switching.

So when it says you must switch any other regular payments e.g. salary, does anyone know whether this means:

1. you must switch any regular credits IF you have any. So if you don't have any it's fine, you still qualify.

2. you must have at least one regular credit but not necessarily salary. The way it's worded leads me to think this may be the case, which would mean you could setup a monthly standing order payment into the account to qualify?

3. you must actually have a salary payment to qualify.

Any ideas?

Thanks.

Moneyproblems111

Sucks my credit rating is poor would of liked to get the switch over to the reward account

rb10

boots_babe wrote: »

Thanks for that link, hadn't seen that before.

I'm afraid I'm going to ask the usual question...in the Ts and Cs it says:

"Switching to us means transferring all of your active direct debits (a minimum of two, otherwise we have the right to claim back the £100) and other regular payments, plus automated credits, e.g. your salary, into your new Halifax current account."

Now, the account I wish to switch is NOT my main account. It has 2 DDs, so that satisfies the first part of the criteria. However my salary is not paid into the account I'll be switching.

So when it says you must switch any other regular payments e.g. salary, does anyone know whether this means:

1. you must switch any regular credits IF you have any. So if you don't have any it's fine, you still qualify.

2. you must have at least one regular credit but not necessarily salary. The way it's worded leads me to think this may be the case, which would mean you could setup a monthly standing order payment into the account to qualify?

3. you must actually have a salary payment to qualify.

Any ideas?

Thanks.

I would take that to mean that you have to have at least one automated payment going into the account. Salary is given as an example, but it could be something else instead.

Previously Halifax have manually checked accounts for accordance with the T&Cs, and removed the £100 where there has been a breach.

stormCat99

Hmm ok. So does a standing order from one of my other accounts count as an automated payment?

YorkshireBoy

boots_babe wrote: »

Hmm ok. So does a standing order from one of my other accounts count as an automated payment?

The only answer anyone here could give would be "it might do".

I'd imagine they're looking for BACS Direct Credits, ie wages/salary, pension, benefits, etc.

Of course when these offers come along there's always an outcry from the self-employed saying they pay themselves from their business accounts (via immediate FP). And Halifax can't be seen to discriminate between the employed and the self-employed can they?

So, as I say, you could be alright...but since you're jumping through a couple of hoops anyway, what's wrong with jumping through an extra one and mandating your salary there?

Gromitt

YorkshireBoy wrote: »

I'd imagine they're looking for BACS Direct Credits, ie wages/salary, pension, benefits, etc.

I'd agree. Halifax were very careful last time, and were removing the £100 bonus from people they thought were trying to "cheat" the system.

So it might be best to go through with it and transfer your salary over. You can always move it back after 3 months or so. Your salary doesn't have to be paid into the other account, just give them your employer details and they'll send a standard letter, or you can do it yourself.

stormCat99

Appreciate your reply.

I don't want to mandate my salary, as I have an offset mortgage with FD, which means I have to retain my main account with them.

And to be honest I wouldn't want to direct it elsewhere because we make big use of the offset facility - all our DDs/SOs go out at the very end of the month so that the salary can sit there offsetting as long as possible.

I think I may give it a go anyway, with the SO option, I've nothing to lose!

huw01

Hmmmmmm

I have a bank of Scotland branded reward account which has now been withdrawn since 2011 for new applicants. I wonder do I qualify to apply for the Halifax branded reward account and the £100.

I technically do not have a halifax account and my DD's all go from another bank

Answers on a postcard please

YorkshireBoy

boots_babe wrote: »

I don't want to mandate my salary, as I have an offset mortgage with FD, which means I have to retain my main account with them.

What's their definition of a "main account" though? Mine would be the one that pays all your bills.

You're going to have to shift all your DDs, SOs, and every bill payment you've ever set up with FD to Halifax anyway, and I'd imagine they'd be more concerned with making your payments for you, ie offering a 'main bank' service, than whether the £1,500 (or whatever) credits per month came via BACS Direct Credit or FP from another institution.