Didn't see the point in having loads of bank accounts.

Gromitt

Malcnascar wrote: »

Looks like you all like to make life complicated.

Me I just pay in what is due toi go out and have a life, SIMPLES

I wouldn't say 15 minutes a month to maintain all my current accounts is complicated, and it means I can have a better life as I have more money to spend

Banks love people who just pay in, pay bills and never leave. They like you even more if all your money is in your current account at 0% interest or you have an costly overdraft.

KTF

To the original poster, what benefit do you think you will get from each of the accounts you have opened?

As already mentioned here, people open certain ones for a reason i.e.

Santander 123 for the cashback
Halifax for the £5
Nationwide to get access to the flexclusive deals (none available at the moment).
Etc, etc.

twhitehead

Any idea if the 2 Direct Debits they want are the same as standing orders? I pay £1000 in the account and have just 3 standing orders which almost clears it by the end of the month. That way I know I will not be done for overdraft if a direct debit shoots up one month (as they do sometimes). Or is that the idea from Halifax point of view?

KTF

A direct debit is not the same as a standing order.

pmduk

twhitehead wrote: »

Any idea if the 2 Direct Debits they want are the same as standing orders? I pay £1000 in the account and have just 3 standing orders which almost clears it by the end of the month. That way I know I will not be done for overdraft if a direct debit shoots up one month (as they do sometimes). Or is that the idea from Halifax point of view?

If they're asking for direct debits, then don't assume standing orders will suffice.They're two different things

BugsyBrowne

KTF wrote: »

To the original poster, what benefit do you think you will get from each of the accounts you have opened?

As already mentioned here, people open certain ones for a reason i.e.

Santander 123 for the cashback
Halifax for the £5
Nationwide to get access to the flexclusive deals (none available at the moment).
Etc, etc.

One of the main reasons is my mother in law is leaving us one of her flats at the end of the year and didn't really want to stick all the money in 1 account when sold either that or rent it out.

So not 100% sure what I'm achieving opening up all these accounts but we will see.

[Deleted User]

Halifax are sending out booklets now about the change - the wording is that you must "pay 2 different direct debits each month".

So:

-Standing orders do not count
-Multiple DDs to the same place do not count
-They must be paid every month

Possible Scenarios:

Mr A has a monthly standing order to his wife's account. He also pays one direct debit, his phone bill, monthly. He doesn't get the reward.

Mr B has two direct debits, both to the same company, for two seperate mobile phone accounts. He doesn't get the reward.

Mr C has two direct debits, one to British Gas which goes out on the first of every month, and one to NPower that goes out quarterly. He doesn't get the reward for two out of three months - only on the month where both companies actually take a payment.

Mr D has two direct debits, one to British Gas on the first of every month, and one to NPower on the 10th of every month. So long as he pays in £750 a month and stays in credit, he gets the reward.

Mr E is like Mr D, but pays in £749 a month. He doesn't get the reward.

Mr F is like Mr D too, but went overdrawn for a day. He doesn't get the reward.

twhitehead

OK so I close the account. This is another example of 'get the mugs in and then change T&C hoping to keep them.'

robotrobo

more luck than judgement , i succesfully opened a regular 8% saver account yesterday on the phone after recieving the confirmation that both our 1st accounts was opened.
i opened the 8% saver account without haveing to deposit any monthly deposits eg £1500 deposit per month and also without any £10 monthly bank charges.
This was achieved by also opening a e-saver with £1 running alongside the first account, so now i have a standing order every month into the 1st account & then the bank transfers that 300 two days later into the 8% regular saver.
I cannot claim the credit my son showed me how to do it!, but like i say as from 1st Feb the terms are changeing to the regular saver , so i only just did it by luck.
but for anyone wondering about a switch to santander i did this last year & i have only got praise for it , & the actual switch was done by santander without a hitch whatsoever , and i actually earn £50 a month interest with the max £20 grand , & recieve £5-£8 back on the credit & d/debits , i still kept my nat west account running with my wages going in & i transfer when ever to feed the other accounts or household bills.
I earned very little interest over 40 years with nat west , now £50 per month with santander & the 8% with f/direct, same with skipton b/society , but rate & max £250 depost , not as good.
But the positive side in this poor climate , i am on top , i think with the poor rates there offering out there , for now!!!!!.
mr bean:)
i

littlemissbossy

I like to take advantage of all the "offers" whatever they might be but I do sometimes worry how my hubby would pick up the threads if I couldn't look after things for whatever reason, it would be confusing thats for sure.