MSE News: Halifax axes £5 monthly payments to overdrawn current account holders

KTF

I have setup the 6x DD to my single Tesco Savings account and they are now showing on the Halifax online banking.

This evening I will fill in 6x forms for my Santander e-saver to get the second DD active on all the reward accounts.

I still havent had a letter from Halifax informing me of the changes an in theory they would have to give you a couple of months notice of the downgrade as/when they notice you are not playing ball but no harm in getting everything lined up in advance first.

dings74

innovate wrote: »

You appear to be able to set up any number of 'nominated accounts' but you can only have a DD against the account you nominated when you opened your (first) PO account. You can change that "DD" account to another one by sending them another DD form, but you are still stuck with one "DD account" only. HTH

many thanks that's crystal clear any idea's on one more savings account that i can use ?

i seem to be making very hard work out of all this for something others are finding easy:mad:

innovate

forums.moneysavingexpert.com/showthread.php?t=4168667

innovate

KTF wrote: »

I still havent had a letter from Halifax informing me of the changes an in theory they would have to give you a couple of months notice

The new terms don't apply until May 1, so there is oodles of time still for them to notify everyone.

peterx

Having received the letter today i have transfered two direct debits from Santander to my Halifax account-EDf energy and TV license.The latter you can change on line.I don't think you need to pay salary into the account just the required minimum amount of money into the account.

carpy

will keeping a zero balance be considered as being in credit at the end of each day?

mspritch

I'd switch EDF back to Santander and switch something that doesn't qualify for 1%/2%/3% cashback. TV Licensing doesn't qualify so that's fine for one of them. Charity payments, central heating maintenance/warranties, stuff like that should be good to switch back.

Received my letter today. Looks like they don't have to be monthly DDs, as long as you pay two each month, so if you've got three quarterly DDs for example, as long as they go out in different months the three ought to come together and count as one of those monthly payments, leaving you with a monthly one still to find.

guesswho2000

Tesco savings account opened, direct debit for the £5 reward set up. Tried ING, but ironically couldn't as they need a cheque from the DD account, Halifax being the only one who haven't given me one automatically! (Either that or I can't find it in the heap of cheque books I never use!)

JimmyTheWig

carpy wrote: »

will keeping a zero balance be considered as being in credit at the end of each day?

I would certainly think so. I think by "credit" they mean "non-debit"!

YorkshireBoy

JimmyTheWig wrote: »

I would certainly think so. I think by "credit" they mean "non-debit"!

They don't mention the word "credit" in the actual notice of variation (and that's the one that matters, not the 'benefits and features' blurb where they do mention "remain in credit").

They say, quite clearly, "Ensure that you do not have a debit balance..."