Halifax Reward account, Am I too late to set up direct debits?

Lady_K

I have only just noticed that at least 2 direct debits have to be set up by 14th April on reward accounts or they will go back to ordinary accounts on May 2nd.

Am I too late to set these up in time? Would setting up a direct debit be instant or take some time and have to be sent to me to sign?

Also if I set up say a tesco savings account could I set up 2 direct debits from 2 different reward accounts to go to the one tesco savings account?

I have tried to see if I can set up a direct debit from my halifax reward account to my halifax web saver account but it only allows standing orders is it possible to set up a direct debit from reward to web saver?

YorkshireBoy

Lady_K wrote: »

I have only just noticed that at least 2 direct debits have to be set up by 14th April on reward accounts or they will go back to ordinary accounts on May 2nd.

Where have you been for the last 3.5 months? And who's been getting your post (I had 4 lots of letters for my 4 Reward accounts back in January)?

Am I too late to set these up in time? Would setting up a direct debit be instant or take some time and have to be sent to me to sign?

Should still be possible if you hurry (but see below). DDs are largely (always?) these days set up electronically via AUDDIS.

Also if I set up say a tesco savings account could I set up 2 direct debits from 2 different reward accounts to go to the one tesco savings account?

Yes, Tesco set mine up in 2 or 3 days. However, your problem may be starting from scratch, ie having to open the accounts first.

I have tried to see if I can set up a direct debit from my halifax reward account to my halifax web saver account but it only allows standing orders is it possible to set up a direct debit from reward to web saver?

No.

There are loads of DD ideas on the other various Reward changes threads...but time is against you now.

Lady_K

I knew about it but thought they were going to give people 2 months warning before changing it over.

I do have a barclays ing current account but havent used it in a few years would it be quicker to set some up with that? Although there has not been a previous link payment set up from the ing account from the reward account so hoping that wouldnt have to be through the post either.

I also have a nat west current account could I set up a direct debit to them for now without needing to go to the branch?

I need to set up 4 direct debits for 2 reward accounts. I am now thinking 2 dd's to nat west from each reward account and 2 dd's to barclays ing would that work for now?

YorkshireBoy

Been a good few years since I had an ING account, but from memory they required a cheque from the DD account to establish the 'link'. Is that still the same? If it is, do you have chequebooks for the Reward accounts?

You can't use a current account as a DD originator. These need to be utility companies, credit cards, mortgage, loan, and *some* savings accounts, etc.

Do you have an old Egg Savings account?

Could you list the savings accounts you hold?

Lady_K

I only have the halifax web saver and an ing savings account as well as current account and also a halifax isa. I will have to check with ing tomorrow once I remember the password but if its not successful I will have to try setting up a tesco account, would that need to be signed too?

What other savings accounts do direct debits?

YorkshireBoy

Lady_K wrote: »

if its not successful I will have to try setting up a tesco account, would that need to be signed too?

Can't answer that. Mine were opened years ago.

What other savings accounts do direct debits?

https://forums.moneysavingexpert.com/discussion/4168667

YorkshireBoy

Just a thought...why not shift some utility bills across to the Reward accounts? Remember to fund them though!

Even a couple of (perhaps dormant or little used) credit card DDs?

The above would at least buy you some time to get some savings accounts and DDs set up so they started paying out in May.

Lady_K

I was thinking that myself, if I don't get success with ing or any new savings accounts in time I will have to do that.

How long does it normally take to set up a tesco savings account?

fiesta04

My Tesco a/c's took 2 weeks to open (unlucky I know).

Look at the link you have beengiven by Yorkshireboy.

F4

namecheck

I preferred not to set up DDs with utility companies etc as my/our Halifax accounts have £1k cycled through and are generally left with £1-£5 for the rest of the month.

OP - You could try the Principality Building Society for at least one DD.

I found it very quick and easy to open a savings account online (I think it was the E Saver Issue 10). AER1.50% VAR, can be opened with £1, no notice needed for withdrawals, one account only per customer.

Hope you are not too late.

namecheck

Just seen a post on the "Changes to Reward and Ultimate Reward Accounts" thread.

Post number 755 by Zorz : message from Halifax that includes the information that DDs set up elsewhere can be "easily" switched online via the Halifax switching service.

(Thanks to Zorz)