Changes to Reward and Ultimate Reward Accounts

Steve_xx

Gromitt wrote: »

They give me £45/month, but thats only because I've got 3 Vantage accounts with them, but that offer isn't running any more.

If they complain that my DDs are not to companies, then I'll ask them where in the T&Cs it says that.

With Lloyds TSB you would have to have 6k in each of your accounts in order to earn the £15 a month you mention

LloydsTSB still offer the Vantage attachment to its accounts as far as I am aware and it will pay 3% interest. It's the 4% interest accounts that are no longer on offer.

With the 3% Vantage offer on balances between 3k & 5k there is NO requirement for any DD mandates to be setup.

adindas

rb10 wrote: »

Fill in the form here: http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223418328231&cachecontrol=immediate&ssbinary=true&maxage=3600

Helpful info.
Thank you

BugsyBrowne

Steve_xx wrote: »

With Lloyds TSB you would have to have 6k in each of your accounts in order to earn the £15 a month you mention

LloydsTSB still offer the Vantage attachment to its accounts as far as I am aware and it will pay 3% interest. It's the 4% interest accounts that are no longer on offer.

With the 3% Vantage offer on balances between 3k & 5k there is NO requirement for any DD mandates to be setup.

I know £15 quid is £15 but to have 6k in 3 accounts totalling 18k for a lousy £15 a month is a complete and utter p*ss take.

You put 18k in the bank and the bank says thank you and gives you what most people earn an hour its morally wrong IMHO.

Steve_xx

BugsyBrowne wrote: »

I know £15 quid is £15 but to have 6k in 3 accounts totalling 18k for a lousy £15 a month is a complete and utter p*ss take.

You put 18k in the bank and the bank says thank you and gives you what most people earn an hour its morally wrong IMHO.

That's another issue I guess. The point is that 3% interest from a current account is better than the alternative in today's market from a savings account.
This situation of poor interest rates will continue until the government stops flooding the market with QE and other cheap money that it manufactures out of thin air. Still, it does help stop the housing market from correcting itself!

innovate

Gromitt wrote: »

If they complain that my DDs are not to companies, then I'll ask them where in the T&Cs it says that.

Me too -- though they have, of course, still plenty of time to vary their Notice Of Variation beyond recognition between now and May 1. If they are worth their money, they will know exactly what we are all doing. So if they want to stop us, and also p*ss off a fair number of their "proper" customers in the process, they can do so any time they like. Fingers xed they keep their SOH, though, and let us continue :cool:

adindas

innovate wrote: »

Me too -- though they have, of course, still plenty of time to vary their Notice Of Variation beyond recognition between now and May 1. If they are worth their money, they will know exactly what we are all doing. So if they want to stop us, and also p*ss off a fair number of their "proper" customers in the process, they can do so any time they like. Fingers xed they keep their SOH, though, and let us continue :cool:

Lol, that is a good point. I believe there must be people from Halifax in this forum who are watching what we are all doing here to ditch its reward.

But it will not be soon I believe as at the same they will need to also consider the huge impact that they will have if the do again a notice of variation of T&C. They just changed their T&C recently;y and if they changed it again people will loose confidence. Not to mention the resources they will need to do this.

Also people might go for a more radical option e.g. 1p monthly DD donation to charity.

claire07

Well that went more smoothly than I thought. I opened a new Tesco account and added the direct debit. I then added a direct debit to my AA internet extra account as I didn't want to get involved with opening a Santander account.

Today I see both direct debits show up on my Halifax Reward account.

After all the hassle opening a previous Tesco internet account I'm not too optimistic things will work but at present it looks OK.

innovate

Also people might go for a more radical option e.g. 1p monthly DD donation to charity.

I hope people will remember that it costs the receiving organisation anything from 50p - £1 every time a DD instruction gets executed.

GooliesOfFire

Good luck to those who are determined to keep earning their fivers. We will see how long it's going to last

Me and my wife on the other hand have got Halifax URCA only for benefits coming with it. The money (£1000+) has been going in and then going out the next day to keep it at £10 fee. We didn't bother to carry any cards with us as there was only about 50 quid in credit balance there. At the time we upgraded our CA to URCA we thought £10 for a travel insurance, mobile phone insurance and breakdown cover and some other stuff was good value for money.

That was the only purpose of this account at that stage.

We had no Direct Debits on the account and quite frankly I cannot be bothered to change that now. Also we no longer need any mobile phone cover (old phones on PAYG now), we've got free travel insurance from Nationwide since we made it our main account and RAC breakdown cover (bought yesterday) cost me only 30 quid for the whole year (recovery within 10 miles - we need nothing better than that).

So.. today we are going to close our "unused" URCA in our local branch. Looks like we will save some more money

Katiehound

I've read some of the last pages (before that read up to page 17!!)

Now there is a new 'nasty' in the woodpile. Letter received yesterday.
I have 2 reward a/cs (one really is my main a/c), a Clarity cc & a Reward saver.
From mid Feb Reward saver interest is dropping from 2.25% which was OK to 0.5%... which is not acceptable. It was very convenient because I could just phone and transfer money in and out there & then.

I picked up a Lloyds TSB leaflet last week but it is as clear as mud. Only talks about adding the Vantage in passing. Can anybody give a link that tells me clearly the T&Cs ? I would plan to have around 10K in savings. I would also hang onto the Halifax accounts (for my £10 per month!)
The other option would be Santandar....not keen

All help gratefully received!!