Changes to Reward and Ultimate Reward Accounts

BugsyBrowne

Any of you halifax £5 monthly feeders ever thought of doing a paper round on a Sunday for half an hour as many newsagents are now paying £11 tax free that's £528 a year a better return then most of you are getting on your savings accounts.

Just a thought.

Wilma33

BugsyBrowne wrote: »

Any of you halifax £5 monthly feeders ever thought of doing a paper round on a Sunday for half an hour as many newsagents are now paying £11 tax free that's £528 a year a better return then most of you are getting on your savings accounts.

Just a thought.

You can't get a better return than £120 a year for doing no work :j

BugsyBrowne

Wilma33 wrote: »

You can't get a better return than £120 a year for doing no work :j

5 x 12 = 60

YorkshireBoy

BugsyBrowne wrote: »

5 x 12 = 60

To continue the maths lesson, 2 x £60 = £120 (for those with 2 accounts)

And to continue it further, in my case with 4 accounts, 4 x £60 = £240

I understand there are 'couples' on here with 7 or 8 accounts between them. I'll leave you to do the maths on that scenario.

A minute a month is all it takes to shift £1K through all my accounts, and now that the fivers are being creamed off automatically via DDs (required from 1/5/13) to savings accounts, I don't even have to trouble myself with that 'chore'!

Think I'll leave the paper round to others thanks. After all I wouldn't get the £11 tax free, being as I'd have to declare it.

noh

Also, in order to earn the Halifax reward, it is not even necessary to get out of bed.

BugsyBrowne

noh wrote: »

Also, in order to earn the Halifax reward, it is not even necessary to get out of bed.

YorkshireBoy wrote: »

To continue the maths lesson, 2 x £60 = £120 (for those with 2 accounts)

And to continue it further, in my case with 4 accounts, 4 x £60 = £240

I understand there are 'couples' on here with 7 or 8 accounts between them. I'll leave you to do the maths on that scenario.

A minute a month is all it takes to shift £1K through all my accounts, and now that the fivers are being creamed off automatically via DDs (required from 1/5/13) to savings accounts, I don't even have to trouble myself with that 'chore'!

Think I'll leave the paper round to others thanks. After all I wouldn't get the £11 tax free, being as I'd have to declare it.

Think I may of argued this one with myself then as I only thought you could have one halifax reward account.

Wilma33

BugsyBrowne wrote: »

Think I may of argued this one with myself then as I only thought you could have one halifax reward account.

I think you can now, but not when most of MSE opened them. Still kicking myself that I only opened 2 My £1K moves around by standing order (and the £5s are creamed off by direct debit) so I literally do nothing for my £120 a year.

anotheruser

Question:

When the letter came in January I changed the account straight away. January's reward was already in.

February came and £750 came in, no reward. It automatically went out in a £700 and £50 transfer. I queried this with them and they told me the £750 only starts in May. I did tell them it worked okay for February but I can't remember the answer
I did ask if the DD's could be to the same person/account, they said that was fine.

So I paid in another £250 manually, but checked back a couple of days later and still no £5 reward.

I've now ended up transferring a brand new £1000 into the account, but haven't checked it yet. Have they moved when they pay the £5 reward?

The only thing I can think of is that because February only had 28 days then March's transfer in money was used for Feb's month or something silly. In which case the £1000 I just transferred in should trigger the reward.

It doesn't matter now anyway as I'll be transferring £1001 because £1 will go back to my current account (1 DD) then the other £1000 will go to my new Nationwide account for their requirement, leaving the £5 reward in the Halifax.
Shame as my statements were the neatest I have ever seen!

So basically, has anyone else had any problems with March's £5 reward?

jem16

anotheruser wrote: »

So basically, has anyone else had any problems with March's £5 reward?

No but it's a bit confusing as to when your payments were actually made. To receive the reward on 2nd March (backdated to 1st March) you would have to have paid a total of £1000 in during February.

Hominu

To get £5 in March, you need to make £1000 worth of deposits in February. The £5 is only ever paid once a month, so if you miss it, you need to wait until the next month to "Try again". Nothing will trigger the £5 apart from a month change. Its always the second working day of the month backdated to the first.

My £5 went in fine BTW, but I did make a £1K deposit in February.