Changes to Reward and Ultimate Reward Accounts

vintagegirl

i use my urca for the £300 fee free overdraft right up the penny every day and transfer anything outwith to a different account.

does this mean to pay the £10 a month i will have to have the account as a £0 balance as opposed to -£300 if youh know what i mean?

innovate

The new terms say you must stay in credit throughout the month to get the fiver. So it's either overdraft or fiver, not both, I reckon.

We’re also changing the way you qualify for the £5 reward on the Reward Current Account and the lower monthly fee on the Ultimate Reward Current Account. We'll give you a £5 reward/lower monthly fee each month if you:
- use it as your main account (fund with at least £750 and pay at least 2 different direct debits) and
- remain in credit.

chaotic_j

Hi,

Which savings accounts are you lot planning to use for this?

I have multiple Halifax Reward current accounts.

I already have a Tesco "Internet Saver" account which I can use; it does multiple DD's which is perfect.

I just applied for a Nationwide "MySave Online Plus" as it was mentioned earlier in this thread, however I just re-read the info. on the Nationwide website and it says the opening balance needs to be £1000+!

Does anyone have an alternative with £1 opening requirement and that supports multiple DD's please?

Thanks in advance!

noh

chaotic_j wrote: »

Hi,

Which savings accounts are you lot planning to use for this?

I have multiple Halifax Reward current accounts.

I already have a Tesco "Internet Saver" account which I can use; it does multiple DD's which is perfect.

I just applied for a Nationwide "MySave Online Plus" as it was mentioned earlier in this thread, however I just re-read the info. on the Nationwide website and it says the opening balance needs to be £1000+!

Does anyone have an alternative with £1 opening requirement and that supports multiple DD's please?

Thanks in advance!

The minimum operating balance is £1 though.
You could use the £1000 you currently cycle through your Reward accounts to open the MySave account then remove £999 once it is open.

Nine_Lives

I've managed to do this for a few people with Tesco savers, Nationwide MySave accounts & one Post Office account.

For the Nationwide MySave, i'll just dump £1k in it to open it up, then withdraw £999.

ukflippy

I started reading this thinking that I'm not that bothered - I only ever opened the reward account as a place to store my wife's 4-weekly pay temporarily, then pay it back into our main current account monthly. The £5 was just a bonus.

Now I'm thinking of various ways of setting up these direct debits to keep that cash rolling in

derrick

Am attempting to open a linked account from my second and third Reward accs, one to ING and one to Nationwide, ING are telling me I need to link the account with a cheque deposit from Halifax, (I assume Nationwide will want the same, but have not yet received log in details), however my second and third Rewards accs do not have a cheque book, phoned Halifax who tell me I can have cheque books but will have to go to a branch, does this sound right, and will all banks/building societies require a cheque deposit to link an account?

.

YorkshireBoy

derrick wrote: »

(I assume Nationwide will want the same, but have not yet received log in details)

There's no mention of this in either the T&Cs or the user guide, both of which are available on their website.

phoned Halifax who tell me I can have cheque books but will have to go to a branch, does this sound right

Can't help, but suggest you call again and see if you get the same answer?

and will all banks/building societies require a cheque deposit to link an account?

No they won't, an example being Tesco Bank.

derrick

YorkshireBoy wrote: »

There's no mention of this in either the T&Cs or the user guide, both of which are available on their website.

Can't help, but suggest you call again and see if you get the same answer?

No they won't, an example being Tesco Bank.

OK, will wait re Nationwide until I receive log in details.

Just rang again and was told as the accs are not set up for a cheque book I will have to visit a branch so they can "set it up" for a cheque book, then one can be ordered, was told if it had been "set up" I would have been able to order one ove rthe phone.

Might try Tesco bank then.

.

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derrick

Tesco bank account set up and one DD from each of my 2 extra Reward accs set up to this account.

Will wait for my log in details from Nationwide and see if I can do the same without cheques, if not I will try another account that doesn't need an opening cheque.

It is weird how some want a cheque, (ING who I have held an account with for years, although not used for a while), and some don't to set up a DD on an account already with them, I have never had an account with Tesco!

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