Changes to Reward and Ultimate Reward Accounts

Steve_xx

YorkshireBoy wrote: »

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!).

I agree with you re the red herring. I note that HBOS say they will give you at least two months notice if they plan to change your account. Now does this mean two months from when they sent out the notice of variation letter, or two months from April 14th, or even two months from May 1st?

"We may review your account from time to time and if you have not kept a minimum of two different direct debit mandates on your account at all times, we may change your account to the Current Account, or if this account is no longer available, to a standard current account with similar features to the Current Account. We’ll give you at least two months’ notice before doing so".

YorkshireBoy

Steve_xx wrote: »

I note that HBOS say they will give you at least two months notice if they plan to change your account. Now does this mean two months from when they sent out the notice of variation letter, or two months from April 14th, or even two months from May 1st?

Perhaps the more important question would be..."once given, is the 2 months notice revocable if DDs are then set up?"

Steve_xx

YorkshireBoy wrote: »

Perhaps the more important question would be..."once given, is the 2 months notice revocable if DDs are then set up?"

Yes I think it probably would be.

archery

final two direct debits showing as set up on account number 3
happy days - just need to moniter accounts on a regular basis
to ensure funds are in account to pay the monthly direct debits

:j:j

System

You would be to able to ( and may have to) upgrade to the Reward once the account is a standard account at the end of the 60 days.

It's interesting to note that they are not making the same (downgrade) threat to BOS customers; they will simply not get the £5 reward on the months they don't meet the criteria.

Steve_xx wrote: »

Yes I think it probably would be.

Lady_K

I have 3 reward accounts and left it late to try and set up 2 direct debits on two of them due to various reasons.

I now find its just about impossible to set up any kind of dd in time because they all say up to 14 days.

I rang Halifax dedicated reward current account changes phone number and they confirmed that if you fail to set up the 2 dd's before 14th April and they must be visible in your account in the direct debits tab button, it wont be counted and you will revert to ordinary current account.
However if you then set up two dd's after that date you can ring them to have it reinstated to reward current account. They also confirmed that you can still have one joint reward and one personal reward account but no more than that so basically if you have 3 reward accounts now like myself and fail to get the 2 dd's per account before 14th you can only reinstate one of them. I will most probably lose 2 of mine now which I'm pretty fed up about.

I called virgin media and they said they said the process takes 2 weeks so that wont count and I called southern electric who said 2-3 weeks.

Is it worth bothering trying to swap tv license? because if its not viz in halifax account by this Friday really as 14th is a Sunday its not going to count either.

innovate

Look at post 1 in this https://forums.moneysavingexpert.com/discussion/4168667 and get one with setting up 2 "bespoke" DDs. You can use these two on each of your Rewards. Easy peasy, and all done in no time.

Lady_K

Its not as easy peasy now due to time. I set some of those up last friday and they still arent registering in halifax online I phoned tesco bank, principality and ing today and they are all saying it will appear after the 14th even though they set up instantly online.

I've just swapped my southern elec gas over for one but it really doesnt sound very likely to happen by friday.

I was only staying with halifax for the rewards so maybe I will look to changing if a good deal comes up somewhere. I should have taken more notice really and sorted it out before now but what with ilness and my daughter being in hospital I just didnt focus on much else. Plus I just only remembered it was changing in May so thought there was a bit more time.

innovate

The 14th is no fixed date IMO - - it's just a guideline. As long as you have the DDs showing in your Reward accounts by end of the month, you will be fine.

YorkshireBoy

Lady_K wrote: »

I phoned tesco bank...and they are...saying it will appear after the 14th even though they set up instantly online.

I accept I was an existing customer with Tesco when I set mine up, but mine were showing at Halifax within 2-3 days of making the request of Tesco.

Don't lose hope just yet.

And, whilst we can't say whether innovate is correct above on the 'guideline' theory, that's the approach you should take, ie try and get them showing by the end of the month.

If you do...you MIGHT get lucky, but if you don't, you definitely WON'T get lucky. So nothing (more) to lose...but everything (in the form of £180 a year) to gain!