Changes to Reward and Ultimate Reward Accounts

td_007

innovate wrote: »

No it wouldn't because Halifax wants to see money going to two different organisations each month.

From the t&c that I have it only asks for two differenct mandates (not two different organisations) "To have a Reward Current Account you must set up a minimum of two different direct debit mandates on the account."

I have set up two direct debits to two different Santander eSaver accounts-come May/June and it will all be clear...

Steve_xx

td_007 wrote: »

From the t&c that I have it only asks for two differenct mandates (not two different organisations) "To have a Reward Current Account you must set up a minimum of two different direct debit mandates on the account."

I have set up two direct debits to two different Santander eSaver accounts-come May/June and it will all be clear...

Interesting - It does indeed say as you say it does. One can only think that they mean to two different organisations.

YorkshireBoy

Steve_xx wrote: »

Interesting - It does indeed say as you say it does. One can only think that they mean to two different organisations.

We've been here before...several times!

Trouble is someone reads the T&Cs a different way, putting their own interpretation on it, and then posts their opinion. This opinion then gets quoted and re-quoted, and before you know it people think it's correct.

That said, just in case that's what they do mean, mine are to different companies...on all 4 Reward accounts

Personally, I think they'd be on a sticky wicket if someone had, say, 2 Barclaycard credit cards and moved the DDs for these to a Reward account and was then refused the Reward. After all, they're "two different direct debit mandates" aren't they?

td_007

Guess it this is just Halifax's way of making getting the £5 bit more difficult. To be fair the the need to circulate £1000 every month was not much of a deterrent but the need to setup direct debits that are used each month is a much bigger deterrent. So my guess is that Hallifax will not be objecting to 2 DDs going out two different account with the same organisation and it should be fine...time will tell

innovate

td_007 wrote: »

From the t&c that I have it only asks for two differenct mandates (not two different organisations) "To have a Reward Current Account you must set up a minimum of two different direct debit mandates on the account."

I have set up two direct debits to two different Santander eSaver accounts-come May/June and it will all be clear...

The guy, a Halifax employee, who originally started this thread many moons ago, told us that it must be two different ORNs (or OINs or whatever they are called) - i.e two different companies. We can either accept his advice and bag a fiver, or not accept it and risk the fiver/losing the Reward account altogether. The choice is yours.
http://forums.moneysavingexpert.com/showpost.php?p=57941345&postcount=17

td_007

YorkshireBoy wrote: »

That said, just in case that's what they do mean, mine are to different companies...on all 4 Reward accounts

Out of interest are these DD your regualar bill payments or to some of your savings accounts. I really dont want to move my regular bill payments so looking for options - Santander eSaver allow setting up of DD mandates so have gone for it. Thinking of Tesco savings as well...any others?? Need to setup DD for 3 more Reward accounts.

YorkshireBoy

td_007 wrote: »

Out of interest are these DD your regualar bill payments or to some of your savings accounts.

3 of them use Tesco and YBS (old Egg savings account), and have done since February. I like to prepare/plan early! The other is my main bills account.

so looking for options - Santander eSaver allow setting up of DD mandates so have gone for it. Thinking of Tesco savings as well...any others??

This thread is riddled with other options. There's also a thread on the savings board listing providers who can pull money in by DD.

There's also charitable donations, but that's an emotive topic with many (including myself).


EDIT: You're going to have to act quickly, being as the deadline for having the DDs set up is 14th April. What's that?...3 weeks?

Steve_xx

YorkshireBoy wrote: »

We've been here before...several times!

Trouble is someone reads the T&Cs a different way, putting their own interpretation on it, and then posts their opinion. This opinion then gets quoted and re-quoted, and before you know it people think it's correct.

That said, just in case that's what they do mean, mine are to different companies...on all 4 Reward accounts

Personally, I think they'd be on a sticky wicket if someone had, say, 2 Barclaycard credit cards and moved the DDs for these to a Reward account and was then refused the Reward. After all, they're "two different direct debit mandates" aren't they?

I agree with you. I think that Halifax think that their intention is that you will have two DD's going out to two different companies. Though their text is ambiguous here and it could be challenged reasonably as it stands.

innovate

Steve_xx wrote: »

Though their text is ambiguous here and it could be challenged reasonably as it stands.

Yes, their text is ambiguous and yes they might have to concede. They didn't tough, with their £100 signup offer.

The max they have to pay the fivers, in the case of dispute, seems to be 2 months:

[/quote]If we find that you do not have at least two different direct debits set up on your Reward Current Account, we may change your account to a Current Account or similar. Where we do
this, we will give you at least two months’ notice.[/quote]

Steve_xx

innovate wrote: »

Yes, their text is ambiguous and yes they might have to concede. They didn't tough, with their £100 signup offer.

The max they have to pay the fivers, in the case of dispute, seems to be 2 months:

If we find that you do not have at least two different direct debits set up on your Reward Current Account, we may change your account to a Current Account or similar. Where we do
this, we will give you at least two months’ notice.[/quote][/QUOTE]
Yes I agree with you; I wouldn't risk it.