Changes to Reward and Ultimate Reward Accounts

Steve_xx

electric_comperella wrote: »

My Esaver is a version 5 I believe and bonus rate ends Mid July.

Ella

I reckon you should be OK to set up a DD on this one!

innovate

Steve_xx wrote: »

I reckon you should be OK to set up a DD on this one!

Yes, this esaver is good for DDs even after the bonus rate ends.

innovate

crispy_chris wrote: »

BOS criteria mirrors the Halifax ones,

Thanks cc, hadn't realised they have changed their T&Cs as well now.

electric_comperella

So let me get this straight in my weary age-addled mind ....

Use the bank of scotland with 1 dd to santander esaver and the other to? and for how much? what dates do you all set them up for? will there be time for getting them done before june 1st to get the £5?

Also what would you advise for the halifax current account now it's just a plain account?

all advice much appreciated

thank you! x

Steve_xx

innovate wrote: »

Thanks cc, hadn't realised they have changed their T&Cs as well now.

Are you saying that BOS now requires two DD's?

innovate

It's not me who says - - the T&Cs (that crispy_chris posted a link to) do. Was news to me too. I don't have a BoS Reward so didn't keep track of T&C changes there. Here's the link again
http://www.bankofscotland.co.uk/bankaccounts/pdf/bb-reward-payments-interest-account-fees.pdf

As an aside, BoS Vantage seems to still work w/o DDs.

innovate

For electric_comperella:


Tesco savers are useful for DDs (multiple, if you need). More ideas in post 1 of this thread https://forums.moneysavingexpert.com/discussion/4168667

Any date somewhere in the middle of a month is safe. I would avoid start and end of month because of weekends, different number of days in month and such.

Don't think you stand much chance to get any new DD up and running before July 1 now. You'd need to allow at least one clear working week, preferably two. I do mine for £1.

As to what to do with your Halifax current.....you could ask Halifax whether they will give you a Reward again if you do the DDs and the £750. Alternatively, look at the Nationwide FlexDirect Quidco offer - i.e. switch it to a FlexDirect, hopefully get some £70 cashback, and then get 5% interest for a year in the FlexDirect on up to £2.5K.

Steve_xx

innovate wrote: »

It's not me who says - - the T&Cs (that crispy_chris posted a link to) do. Was news to me too. I don't have a BoS Reward so didn't keep track of T&C changes there. Here's the link again
http://www.bankofscotland.co.uk/bankaccounts/pdf/bb-reward-payments-interest-account-fees.pdf

As an aside, BoS Vantage seems to still work w/o DDs.

Sorry, I frustrated the issue here. I was referring to BOS with Vantage added, not the BOS £5 Reward accounts, that sadly seem to no longer be available.

Anagran

Ah! Think I may have missed my £5 this month. Just remembered my wages were less than £750 this month, so have just done a fast payment across from another account to make up the difference. The money has gone across and is 'available' but the date next to the deposit is 1st July. I am really cross at myself if I have left it too late. Does anyone know what will happen? As far as I can see I have fulfilled the conditions but the date is worrying me.

EdinburghStatto

Hi folks, first post on this site so i'm an MSE virgin!

This is a great site though so I was wondering if you'd be able to help. Basically, I used to hold 2 sole and 1 joint HBOS Reward current accounts. I didn't manage to get 2 DDs set up on one of the sole accounts in time and as a result that got downgraded to a current account. I've since set up the 2 DDs but HBOS won't revert it back to a Reward account, saying that I've already got one sole account and their T&Cs state that's the maximum. I can't help but feel that had I managed to set the 2 DDs in time that I'd still have 2 sole Reward accounts. Their customer services claimed that since May 2013, no one has been able to hold multiple sole Reward accounts.

So my question to this forum's members is, since May 2013, has anyone still been able to hold multiple HBOS Reward current accounts?

Cheers
EdinburghStatto