Changes to Reward and Ultimate Reward Accounts

innovate

If you can manage to set up these DDs, then yes.

I am not aware, though, that you can set up DDs on current accounts. Let me know if I am wrong, so I can add the two to our 'easy DDs' sheet https://forums.moneysavingexpert.com/discussion/4168667

Gromitt

You can do it via an intermediary*, but it'll cost you an 'administration charge' and 'handling charge'. Far better (easier, cheaper) to setup a DD to a savings account. @ £1/month, you could empty it once a year.

(It's meant for small businesses who can't get the appropriate licenses)

derrick

OK, it looks like I can't, not online anyway, I will call them on Thursday to find out definitively, if not I will have to open a couple of savings accounts.

Will I then be able to use the 2 separate reward accs and set 2 DD's up from each, i.e. 1 from each of the rewards to each new savings account therefore keeping the free fivers from those 2 Reward accounts?

.

1jim

Currently have 3 reward current accounts in our house, wife and I have one account each, and joint account between us. Currently cycle £1000 a month through each.

So when this comes into play I will just need to cycle £750 a month through each. For the direct debit requirement, would I be able to open a tesco saving account in my name, another in wife's name and then from each account have a dd set up to each for £1 (so each account would have 2 dd's, one to wife's tesco saver and one to my tesco saver) would that fulfill requirements?

brass_in_pocket

It seems from reading earlier postings that the two DDs need to have different Originator Identification Numbers. I would guess that Tesco Savings (of whatever type/name) would all have the same OIN.

innovate

derrick wrote: »

Will I then be able to use the 2 separate reward accs and set 2 DD's up from each, i.e. 1 from each of the rewards to each new savings account therefore keeping the free fivers from those 2 Reward accounts?

Definitely works with Lloyds Vantage, so I would expect it to work with the Halifax Reward accounts too.

1jim wrote: »

For the direct debit requirement, would I be able to open a tesco saving account in my name, another in wife's name and then from each account have a dd set up to each for £1 (so each account would have 2 dd's, one to wife's tesco saver and one to my tesco saver) would that fulfill requirements?

I don't think anyone checks the names on the accounts but when you set up a DD, you are asked to confirm that you are the account holder of the account to be debited.

innovate

brass_in_pocket wrote: »

It seems from reading earlier postings that the two DDs need to have different Originator Identification Numbers. I would guess that Tesco Savings (of whatever type/name) would all have the same OIN.

Where in the Halifax T&Cs does it say anything about OINs?

brass_in_pocket

Halifax's 'Notice of Variation' only states "two different direct debit mandates" but it depends how they interpret 'different'.
The OP, Der52, who works at Halifax mentions the need for different OINs at post 17 in this thread.

madgagoo

So, I have set up a tesco account with a dd to each of mine, my wife's and the joint Halifax accounts. Which of the other savings accounts will allow 3 dd's to the 3 different Halifax accounts? I'd like to get away with only another 2 accounts.

Goldiegirl

My Halifax Reward account is held jointly with my husband, and it's genuinely our main current account.

All our money income from salaries and pensions is paid into that account.

However, we've hardly got any direct debits on that account.

We've got an O2 DDR each and one Sky DDR.

I hope O2 and Sky are suitable utilities for them, otherwise I'd be a bit naffed off.