Changes to Reward and Ultimate Reward Accounts

innovate

Zorz wrote: »

BTW, I just logged in and got this message:
.....

Yep, seeing the same message now as well.

tickedon

Rather annoyed at this change as an URCA holder - the "fee free" £300 overdraft now seems to be anything but "fee free" with losing the £5 "discount"/"reward payment"! Have lodged a complaint with them, and fully intend to see what they say about that... I think their interpretation is probably different to most.

Having recently opened a Nationwide credit card to take advantage of a 20 month balance transfer offer, didn't take much to see what current accounts they have, and thinking a switch is finally in order - keeps me paying only £10 a month, even if their interest free overdraft is only £100. Guess we'll see!

huw01

10_66 wrote: »

According to the letter I received the DDs have to be set up by 14 April (don't know if the payments have to be taken by then as well, or this is just the date by which the DDs have to set up).

I have a bank of scotland reward account. Although they are chaining these reward accounts to having the two DD requirements, I cannot find anything on the BOS paperwork about having them setup by 14 April or they change the account from a reward account.

Steve_xx

huw01 wrote: »

I have a bank of scotland reward account. Although they are chaining these reward accounts to having the two DD requirements, I cannot find anything on the BOS paperwork about having them setup by 14 April or they change the account from a reward account.

Therefore you can assume that the 14 April deadline applies to HBOS only, and not BOS.

anotheruser

innovate wrote: »

The terms and conditions are crystal clear - you need two direct debits, from two different organisations, and they must pay monthly.

There is no need to 'wait and see', it's all totally clear. Has been, since about January 3 2013.

Post 726 supports what I was told, which is the two DD need to be separate mandates - doesn't matter if they go to the same person or company.
Were you TOLD it had to be two different companies or is that what you have guessed from the terms on their site?

AlwaysLearnin

In post 17 the OP said "The DDs need to have different originator reference numbers (6 digit number) opposed to a general customer reference number".

I don't think I've seen anything official that details to this level, but OP was right about the changes and works for the bank.

savetilibleed

sabretoothtigger wrote: »

I was just saying that PO will let me set a DD to more then 1 bank account. Is that not the case, I wasnt intending to have two PO on the same account.

Tried adding a nominated account for DD purposes to a PO saver a while back. There are separate links, one to change, one to add. But the add link changed it! Had to call them to get it reversed!

amibovvered

OK, to save you all time telling me, I am a complete idiot, I should learn to read things properly, and I do not have the sense I was born with.

That done, for some bizarre reason, until reading this thread last night I thought you could have 2 standing orders to still get the £5. Sorted that last month.

At three this morning (yawn) I switched two direct debits from another account - TV licence and phone provider - because I think they are the only ones I have that can be changed online rather than having to contact the companies and wait for forms to come through the post. Both companies now show the payee to be Halifax, unfortunately because of leaving it so late they will not actually start until May as the April payments have already gone out, so I accept I will probably lose one £5.

However, the two direct debits are not showing on my Halifax account. Is that purely because it is the weekend? Did anyone else try making the changes over a weekend? If there is some other problem then I'm stuck I think, now. If they do change it to an ordinary account, can I change it back in the future?

(head bowed in embarrassed shame)

Steve_xx

amibovvered wrote: »

OK, to save you all time telling me, I am a complete idiot, I should learn to read things properly, and I do not have the sense I was born with.

That done, for some bizarre reason, until reading this thread last night I thought you could have 2 standing orders to still get the £5. Sorted that last month.

At three this morning (yawn) I switched two direct debits from another account - TV licence and phone provider - because I think they are the only ones I have that can be changed online rather than having to contact the companies and wait for forms to come through the post. Both companies now show the payee to be Halifax, unfortunately because of leaving it so late they will not actually start until May as the April payments have already gone out, so I accept I will probably lose one £5.

However, the two direct debits are not showing on my Halifax account. Is that purely because it is the weekend? Did anyone else try making the changes over a weekend? If there is some other problem then I'm stuck I think, now. If they do change it to an ordinary account, can I change it back in the future?

(head bowed in embarrassed shame)

It says that the two DD's have to be set up by 14 April and there is probably still time for that to happen for you. It doesn't say that the two DD's have to be paid in April.

YorkshireBoy

amibovvered wrote: »

I accept I will probably lose one £5.

I don't think you will.

The Reward you've earned in April will be paid in early May.

The Reward for May will be paid in early June. You'll have earned this Reward because you'll have paid 2 DDs in May won't you.

The 14th April date is a bit of a red herring in my opinion. I believe Halifax have given this date because it complies with the DD Guarantee's '10 working day' rule from first contacting your originators (plus a couple of working days spare, for those of you who have worked out that gives 12 working days!).