Changes to Reward and Ultimate Reward Accounts

KTF

I got a letter from santander today saying that the additional 3 DD forms I sent in could not be honoured as the limit for the esaver account is 3 DD max.

Ravendarksky

Just in case any of you don't realise. If you have two accounts with 500 overdrafts then you don't even have to transfer in any money, as they don't charge overdraft fees unless you are overdrawn for 24 hours (or more likely sometime around midnight).

Mine goes like this:
0
0
0

-500
500
0

-500
-500
1000

500
-500
0

0
0
0

5
5
5 =D

anotheruser

Hominu wrote: »

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.

jem16 wrote: »

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.

This would explain why I had a £5 reward in Feb as that was for January's payments. I'll get April's then as I've paid £2000 into the account this month :P

From the statements, it just looked like as soon as £1000 hit the account, the £5 reward was paid in there and then. Seems this is not the case.

No matter anyway as I will have to reset all the DD's as my new Nationwide account is up and running

Gromitt

Ravendarksky wrote: »

Just in case any of you don't realise. If you have two accounts with 500 overdrafts then you don't even have to transfer in any money

From May onwards that won't work. Your account must remain in credit throughout the entire previous month.

Ravendarksky

Gromitt wrote: »

From May onwards that won't work. Your account must remain in credit throughout the entire previous month.

Actually this is not the case. It says "Remain in credit at the end of each day odf the calendar month"

noh

Gromitt wrote: »

From May onwards that won't work. Your account must remain in credit throughout the entire previous month.

True but you can, as I do, use an overdraft from another Halifax current account ( a Current Account not a Reward Account) to provide the required monthly funding.

sabretoothtigger

PO ac needs 5 days to put into effect. Is the DD there instantly from that time onwards then?

For security, once you set up a new nominated account you will not be able to make transfers until 5 working days have passed.

Hominu

sabretoothtigger wrote: »

PO ac needs 5 days to put into effect. Is the DD there instantly from that time onwards then?

The DD is there from once you've opened the account, you can't have multiple DDs with the post office, only multiple nominated accounts.

sabretoothtigger

That'd serve as the same thing in effect I guess

innovate

sabretoothtigger wrote: »

That'd serve as the same thing in effect I guess

No it wouldn't because Halifax wants to see money going to two different organisations each month. So multiple PO nominated accounts are a complete red herring because

1. to start with, you can only set up one DD, regardless of how many nominated accounts you have registered
2. even if you could set up more than 1 DD on your PO accounts, this would not satisfy the Halifax requirement of two different organisations