Arghh I've lost my Halifax Rewards accounts, 14th April setup must have been correct

SnowTiger

Old_Wrinkly wrote: »

Apologies if this point has been raised before ...

I just don't see why Halifax/BOS are annoying customers who use this account as their main one but (for whatever reason) didn't have 2 direct debits set up on the account. There are many people who have had trouble with direct debits in the past and now don't use them by choice (even knowingly losing discounts on bills in some cases).

I can see the advantage to the likes of utility companies in having a direct debit set up, but what benefit does a bank get in having to process one?

It costs them to keep an account alive.

I guess paying people £5 to ping £1,000 (now £750) through their account isn't very profitable.

Banks charge companies to process Direct Debit payments. But that's unlikely to cover the Reward.

I guess the hope is that unprofitable customers will either choose to leave or stay with Halifax and use more of their services.

Of course this does mean they'll lose some good customers who simply don't use Direct Debit, but they probably feel that loss is worth it.

socrates

Old_Wrinkly wrote: »

It was a straightforward question ...
No need to regard it as anything else.

I've not done it, but I know someone who might have to and they aren't too happy speaking to banks over the phone.
Did they start trying to persuade you to upgrade to a fee-paying account (e.g. Ultimate Reward)? Is that why it took 15 mins?
Or was it just a lengthy ID validation?
(I'm simply trying to fathom what sort of procedure is involved.)

No pressure but its like you are opening an account all over again - and they have to give you every option even thought they know and you know exactly what you want

socrates

innovate wrote: »

What clause from their T&Cs are they referring to? (genuine Q)

The guy I spoke to was adamant that people who held more than one sole Reward Account had done so by means of a glitch or loophole and that was now being closed

I am sure there will be people that have more than one sole Account who will continue to receive the fivers - but I would imagine it will end eventually

YorkshireBoy

socrates wrote: »

The guy I spoke to was adamant that people who held more than one sole Reward Account had done so by means of a glitch or loophole and that was now being closed

There 'was' no glitch or loophole for early adopters though.

Those of us who opened 3 accounts back in 2009 (8th Feb* to be precise!) did so under then 'then' T&Cs applicable...specifically "Special Condition b", which stated...

"...You can hold a total of three Halifax Ultimate Reward Current Accounts and Halifax Reward Current Accounts. For example, one joint Halifax Ultimate Reward Current Account and two sole Halifax Reward Current Accounts."

There was, however, a glitch or loophole that allowed some of us to re-designate our High Interest Current Accounts (HICAs) into Reward accounts, meaning some people managed 4 (or more?).



* https://forums.moneysavingexpert.com/discussion/1475183

innovate

socrates wrote: »

The guy I spoke to was adamant that people who held more than one sole Reward Account had done so by means of a glitch or loophole and that was now being closed

I am sure there will be people that have more than one sole Account who will continue to receive the fivers - but I would imagine it will end eventually

It may well be that people got their Reward accounts by a glitch or loophole (though I would contest that I complied with every applicable T&C when I got mine) but that does not mean there is a clause in the T&Cs that allow them to downgrade or close your account. Challenge them to confirm in writing what clause says you cannot continue to have your existing Reward accounts if you comply with the T&Cs on each of them. Then raise a formal complaint - - either because they downgraded your account even though you complied with the T&Cs, or because they failed to confirm the relevant clause.

You are right, though, it will most probably end eventually - but until then, they need to obey their T&Cs just the same way their customers do.

And, btw - - you didn't answer my Q, lol. You'd make a good CS person for a bank.

pqrdef

socrates wrote: »

The guy I spoke to was adamant that people who held more than one sole Reward Account had done so by means of a glitch or loophole and that was now being closed

He was adamantly wrong then, because nothing at all has been said about anything affecting anybody who did in fact have DDs in place on all their Reward accounts.

They haven't even said you need external funding, instead of just rotating money between the accounts.

They could easily have said "sorry, only one Reward per customer", but they haven't.

socrates

Do not shoot the messenger - thats what they told me

So how many of you still have multiple reward accounts?

socrates

innovate wrote: »

It may well be that people got their Reward accounts by a glitch or loophole (though I would contest that I complied with every applicable T&C when I got mine) but that does not mean there is a clause in the T&Cs that allow them to downgrade or close your account. Challenge them to confirm in writing what clause says you cannot continue to have your existing Reward accounts if you comply with the T&Cs on each of them. Then raise a formal complaint - - either because they downgraded your account even though you complied with the T&Cs, or because they failed to confirm the relevant clause.

You are right, though, it will most probably end eventually - but until then, they need to obey their T&Cs just the same way their customers do.

And, btw - - you didn't answer my Q, lol. You'd make a good CS person for a bank.

What was the question I have lost track?

innovate

socrates wrote: »

What was the question I have lost track?

What clause from their T&Cs are they referring to?

innovate

socrates wrote: »

So how many of you still have multiple reward accounts?

I don't know the answer to that Q, but I do know I still got mine.