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

callum9999

JimmyTheWig wrote: »

I don't _feel_ I abuse it.
It is the account that my salary gets paid into and we use for spending when necessary. We had the account before they gave us the free £5 a month (back when they used to pay us interest) and will probably keep it when they stop.

But it's certainly not our main bills account, so if that counts as abuse then fair enough.

Well I'd call it abuse. They want it to be your main current account but you just do the minimum you can to fool them into thinking it is. Nothing wrong with what you're doing of course, but you can hardly blame Halifax for not being as lenient as they have been.

buel

Hypothetical question:

If i fund the Halifax accounts i have with £1000 per month and have two direct debits for each account but only for, say, 1p but to different banks, will i still get the £5?

JimmyTheWig

buel wrote: »

Hypothetical question:

If i fund the Halifax accounts i have with £1000 per month and have two direct debits for each account but only for, say, 1p but to different banks, will i still get the £5?

As long as you don't go overdrawn on your Halifax account then I would say that counts, yes.

But remember that they need to be direct debits rather than standing orders. Not something that you can generally set up to pay yourself, etc.

Pound

KTF wrote: »

When you have 6 of the accounts its worth the effort.

Are you allowed more than 1 account, even as much as 6?

I sometimes see an option to open a second account but assumed I would only be elligible for one bonus.

KTF

Pound wrote: »

Are you allowed more than 1 account, even as much as 6?

I sometimes see an option to open a second account but assumed I would only be elligible for one bonus.

When they account was first launched a few managed to bag 3x Halifax Reward and 3x BoS Reward accounts before they realised.

I dont know if you can still have more than one now as they allegedly clamped down on it after that.

Pound

Ah, just tried it. It will let me open a second account but under the Reward Account it says "You already have this account"

aleph_0

JimmyTheWig wrote: »

As long as you don't go overdrawn on your Halifax account then I would say that counts, yes.

But remember that they need to be direct debits rather than standing orders. Not something that you can generally set up to pay yourself, etc.

On the first page I provided a link to another thread listing savings accounts that do deposits by direct debit. One could use such accounts to satisfy the direct debit conditions.

jb66

will this apply to bank of scotland accounts

opinions4u

jb66 wrote: »

will this apply to bank of scotland accounts

You would assume so. But they might have forgotten!

innovate

opinions4u wrote: »

You would assume so. But they might have forgotten!

They don't do everything the same as Halifax. For instance, BoS are no longer accepting new applications for the Reward Current Account, or for the URCA, whilst Halifax obviously do.

I reckon it's a matter of looking out for any T&C changes if you are a BoS Reward or URCA customer. Currently, there doesn't appear to be anything on their website about a change.