Changes to Reward and Ultimate Reward Accounts

latecomer

KTF wrote: »

If Halifax do the £100 switching incentive again at the beginning of next year as is rumoured

That would be nice but with my luck the timing will be wrong for me!

chris_m

ffacoffipawb wrote: »

Perhaps .... 2 direct debits set up to be able to keep a reward account
2 direct debits PAID OUT to receive the fiver?

Which straightaway disallows two of my direct debits - council tax and water, both of which are only paid, IIRC, 10 months a year :mad:

rb10

chris_m wrote: »

Which straightaway disallows two of my direct debits - council tax and water, both of which are only paid, IIRC, 10 months a year :mad:

Which means you'll still get at least £40 per year from the account from the eight months when both are paid.

chris_m

rb10 wrote: »

Which means you'll still get at least £40 per year from the account from the eight months when both are paid.

True - but I prefer Gordon Gecko's philosophy, greed is good :rotfl:

innovate

If you are greedy enough, you will easily find a way to realise the full £60 per account per year. Like the rest of us greedsters.

Nine_Lives

Here's a question -

You require 2 direct debits on the account to qualify. No problem as i have plenty on mine & the wife has plenty on hers. Job done.

However then there's the joint account.

Moving away from having to shift "real" D/Ds. I'm wondering - would 2 Tesco direct debits qualify you for this (the same Tesco savings being used for say, the Lloyds TSB Vantage 4% qualification)?

If the answer is yes, then the next question is - what is the smallest amount you can switch/direct debit each month? £1? £0.50? £0.01?

Gromitt

I'd say no as apparently the DD originator number must be different.

However, nothing stopping you from setting up a Tesco Savings and a Nationwide mySave account for £1 each. You could probably do 10p each, but might cause suspicions and get the accounts suspended maybe. Think of it like £24 towards next Christmas

KTF

Gromitt wrote: »

I'd say no as apparently the DD originator number must be different.

However, nothing stopping you from setting up a Tesco Savings and a Nationwide mySave account for £1 each. You could probably do 10p each, but might cause suspicions and get the accounts suspended maybe. Think of it like £24 towards next Christmas

If you can make the DD run automatically every month from those savings accounts to meet the new t&c then why not have them pull over £2.50 each so the fiver is collected

Nine_Lives

Ah i forgot about the originator number - thanks for reminding me.

So it'd have to be 1x Tesco & 1x MySave then. This would be perfectly fine for our joint account, as our main accounts are covered.

However it's different for my sister & brother. They don't have any DDs whatsoever as they don't pay any bills as such, so they're starting from scratch for all accounts.

They have a solo each & a joint, purely for the £60, nothing else.

1x Tesco & 1x MySave would cover their main accounts, which would leave their joint account hanging - requiring 2 DDs itself.

I can imagine they could use 1x Tesco on it (as it's a separate account from their solo), but with them both using up a MySave account for the main solo account, what would you advise to be the 2nd DD on their joint account? Can't use MySave as it'll be used on their solo each.

ses6jwg

I think I'm going to close both my URCA and my Reward in May and go to the Co-op.