Changes to Reward and Ultimate Reward Accounts

Nine_Lives

Has anyone selected Post Office to get their direct debits?

If so, has anyone had problems?

Selected them & there was a D.D in place. It never showed on the Halifax bank & as a result was never taken.

Reminds me of the hassle i had with Tesco & TSB, but i haven't had any contact saying i need to do anything that i haven't yet done.

System

The BOS URCA appears to offer Home Emergency Cover

latecomer wrote: »

But if you are interested in the Home emergency cover then you need the Halifax variant as the Bank of scotland account doesn't give this benefit.

Gromitt

Nine_Lives wrote: »

Has anyone selected Post Office to get their direct debits?

I tried to for the TSB offer, but after 28 days nothing had been setup, so I went elsewhere.

derrick

Nine_Lives wrote: »

Has anyone selected Post Office to get their direct debits?

If so, has anyone had problems?

Selected them & there was a D.D in place. It never showed on the Halifax bank & as a result was never taken.

Reminds me of the hassle i had with Tesco & TSB, but i haven't had any contact saying i need to do anything that i haven't yet done.

Set up one to PO savings,initial deposit taken today and is in the PO account, first regular payment to be taken 17th.

.

latecomer

Heng_Leng wrote: »

The BOS URCA appears to offer Home Emergency Cover

According the BOS website they stopped offering the Reward (including Ultimate) accounts in sept 2011:

http://www.bankofscotland.co.uk/bankaccounts/previous/

Their current Premier Account does provide Home emergency cover but at a cost of £25/month which is £15 per month more than the Halifax account provided its appropriately funded on a monthly basis.

I'm sure the BOS provides more benefits but I'm not convinced there are £180 worth of difference between the 2 accounts.

System

Closed to new customers - they still make up the bulk of BOS accounts.
Therefore if they have a BOS URCA they have home emergency cover.

The newer accounts mirror Lloyds rather than Halifax's products.

latecomer wrote: »

According the BOS website they stopped offering the Reward (including Ultimate) accounts in sept 2011:

http://www.bankofscotland.co.uk/bankaccounts/previous/

Their current Premier Account does provide Home emergency cover but at a cost of £25/month which is £15 per month more than the Halifax account provided its appropriately funded on a monthly basis.

I'm sure the BOS provides more benefits but I'm not convinced there are £180 worth of difference between the 2 accounts.

lindens

I just opened one of these accounts to get the free fiver. Did i miss the bit about there being a fee? so its not a free £5 as i'm paying £10 for the account!
I'll stick to my free Nationwide account

edit:sorry just read the changes document again and its URCA that has the fee where as I have the RCA :oops

ericpode

I just heard about the forthcoming changes in terms.

I already had a current account with Halifax when the Reward account was launched. So I have my original current account AND the Reward account which has almost zero activity.

I guess I could tell Halifax to shift all my DDs from the current account to the Reward account so that the Reward account becomes my main account.

YorkshireBoy

ericpode wrote: »

I already had a current account with Halifax when the Reward account was launched. So I have my original current account AND the Reward account which has almost zero activity.

I guess I could tell Halifax to shift all my DDs from the current account to the Reward account so that the Reward account becomes my main account.

Better option...downgrade your Reward account to a 'current account' and then, once that's done, re-designate the old 'current account' a Reward current account.

No need to switch your DDs then, ie risk free.

Easy innit!

ericpode

Better option...downgrade your Reward account to a 'current account' and then, once that's done, re-designate the old 'current account' a Reward current account.

Blimey. I didn't know you could do that.

I guess there's a possibility that I could loose a reward payment in the changeover.

Is it possible to do it the other way about - upgrade the ordinary account to a Reward, then later on demote the existing Reward - or are you only allowed to have 1 reward account?

Also I'd hate to demote my Reward and then find that there is something stopping the ordinary account from being upgraded to a Reward. I would then be left with no Reward account at all.

Fortunately, I've identified 2 small DDs that I can change over to the Reward account without much hassle, so that might be the safest solution.