Changes to Reward and Ultimate Reward Accounts

Wilma33

elektra wrote: »

[IMG]http://forums.moneysavingexpert.com/<a href=http://postimage.org/image/5xqftzp3f/ target=_blank>[/img]



Yes, there is an option to move money to it - use the drop down boxes on from/to accounts, and there is also an option to set up a regular transfer. Just done it myself - took it me less than a minute.

http://s17.postimage.org/p2tp3r3rj/ing1.jpg

Thanks. I've just noticed they haven't cashed the cheques yet so maybe I need to wait a few days before they are properly linked and this option is available to me.

Katiehound

atlantis187 wrote: »

And before anyone gets on their high horse I pay a substantial amount to my main charity NSPCC and have been doing so for years.

I know this query was a few pages back, but I just wanted to say that I have been paying larger sums to a favourite charity as a quarterly DD for several years.... I have now changed that to a monthly DD and to make payments equal (!) the charity now receives slightly more money each year. (and of course it qualifies as one of those pesky monthly DDs)

Could you not do that with your donations to NSPCC- make them monthly?

Katiehound

Warning! Make sure you have tied up all the loose ends!

Thought I had organised my £1K doing the rounds between new LloydsTSB a/cs and the old Halifax ones... then I went away on holiday.
Letter arrived today from Halifax says that they didn't honour a SO because there were insufficient funds. Thankfully they didn't at £5 per day! It was the old SO that bounced money between Halifax Reward 1 & HR2... which I had forgotten to cancel!
Big OOPS.
But thank you Halifax for NOT carrying out my wishes. SO now safely cancelled!

jennifernil

innovate wrote: »

Keep your powder dry, folks. These new rules are just a slight nuisance, easily dealt with if you cba about earning an additional £60+ a year.

I know £60 a year doesn't sound a lot, but I see it as £60 here, £60 there, and a few £60s or so all over the place - adding up to a really nice sum every year for me.

Those that cba - fair enough, but please stop spreading doom and gloom when the sun's still shining bright!

https://forums.moneysavingexpert.com/discussion/4168667

Well, that got me thinking about losing £300 a year, thanks innovate, and I remembered I still had my Tesco Internet Saver, then OH said he wanted to give to RNLI and I chose Macmillan.

So OH has opened a Tesco Saver and set up£2 DDs to them and £3 to RNLI/Macmillan on his 2 accounts, and I have done the same on my 3 sole accounts, just have to wait and see if it all works out OK. Tesco DDs are already showing on the accounts.

When exactly does the funding requirement drop to £750?

jennifernil

Katiehound wrote: »

Warning! Make sure you have tied up all the loose ends!

Thought I had organised my £1K doing the rounds between new LloydsTSB a/cs and the old Halifax ones... then I went away on holiday.
Letter arrived today from Halifax says that they didn't honour a SO because there were insufficient funds. Thankfully they didn't at £5 per day! It was the old SO that bounced money between Halifax Reward 1 & HR2... which I had forgotten to cancel!
Big OOPS.
But thank you Halifax for NOT carrying out my wishes. SO now safely cancelled!

Have you allowed for weekends and Bank Holidays?

We used to do ours by SO from a Halifax savings account round 6 Reward Accounts and 6 Vantage accounts as we are often away on long trips, but it got so complicated to allow for the days on which they would not pay the SO that we stopped that!

I just do manual transfers now, all on the same day, less risk of it all going wrong.

dr_adidas01

[QUOTE=._When_exactly_does_the_funding_requirement_drop_to_£750?[/QUOTE]

May it gave you the date in the letter you would have received telling you about the changes.

innovate

dr_adidas01 wrote: »

May it gave you the date in the letter you would have received telling you about the changes.

Not everyone got a letter yet - - e.g. I haven't had any.

New rules in effect from 1 May 2013, see http://www.halifax.co.uk/bankaccounts/?WT.seg_3=Common/promotion/banking/hlinkb/bankin-bankaccn-lnkb-bankaccn00

10_66

Although Halifax state that the new rules become effective 1 May, the letter I received says that any DD's have to be set up by 14 April.

derrick

10_66 wrote: »

Although Halifax state that the new rules become effective 1 May, the letter I received says that any DD's have to be set up by 14 April.

Mine says the same.

.

innovate

10_66 wrote: »

the letter I received says that any DD's have to be set up by 14 April.

That's probably just a well-meant recommendation because it can take a good 10 working days for a DD to get registered on a current account.

There is nothing in the T&Cs that says you must have the DDs before May 1. But of course it is advisable to set them up pronto, not least so that you can check that everything works ok ahead of time.