Halifax £100 for EXISTING customer and free Life Insurance

Der53

Afternoon all... After months away I've forgotten my password for 'Der52' and for some reason I can't reset it' Grrr!

Anyway...

As I'm sure you're all aware, a quicker back account transfer process is due to launch this Sept, and so Halifax are launching a few promotions.

1) Existing bank account customers are eligible to receive £100 if they agree to move their main banking relationship from another provider to Halifax. Halifax class a 'Main Banking Relationship' as an account that has an automated credit and at least two direct debits or standing orders debiting the account each month. If your existing account is already 'main banking' you won't qualify. This promotion has already launched in branches!

2) Any customer with an active current account, credit card, savings account, home insurance policy or mortgage will receive free life insurance to the value of £10k if they have a child under 5 and pass the usual medical underwriting questions. This promotion launches July 8.

3) Cashback rewards are being introduced on the URCA, Reward and Current account. Several big high street retailers have joined up with Halifax to reward you for using your Halifax debit card or credit card with them. The same technology that is used to spot sales opportunities is behind the scheme but obviously on a much bigger scale. The idea behind it being that your spending patterns and retailer choice are monitored by Halifax. When you log in to online banking you will see Cashback offers specific to you, I.e £x amount of Cashback when you spend £X in Homebase. You simply click the link on your online banking to activate, use your card with that retailer, and the Cashback enters your account the following month. There are a few exclusions around refunds etc... Crucially customers that have requested 'No Marketing' will not benefit from this. Cashback Rewards starts around autumn time.

I see my other post has rocked up over 40 pages - crikey!

innovate

Der53 wrote: »

1) Existing bank account customers are eligible to receive £100 if they agree to move their main banking relationship from another provider to Halifax. Halifax class a 'Main Banking Relationship' as an account that has an automated credit and at least two direct debits or standing orders debiting the account each month. If your existing account is already 'main banking' you won't qualify. This promotion has already launched in branches!

Cheers, Derxx, your other post has been great since to the very day, I am waiting for Halifax to tell me about the change to £750/2 DDs!! Nevva mind. Also, dozens of others will have benefited from your timely heads up. Very greatful to your help!

Regarding point 1 of your new post: I was told in Branch that the account to be switched

1. needs to have just 1 DD
2. does not need to have any automated credit. But if it has, it needs to be switched
3. must be closed

Hope you can confirm that I was not told porkies?

I didn't post anything about this yet on here since I first wanted to test it out myself, and I have an appointment next week to get switched. But now the cat's out of the bag....

Der53

innovate wrote: »

Cheers, Derxx, your other post has been great since to the very day, I am waiting for Halifax to tell me about the change to £750/2 DDs!! Nevva mind. Also, dozens of others will have benefited from your timely heads up. Very greatful to your help!

Regarding point 1 of your new post: I was told in Branch that the account to be switched

1. needs to have just 1 DD
2. does not need to have any automated credit. But if it has, it needs to be switched
3. must be closed

Hope you can confirm that I was not told porkies?

I didn't post anything about this yet on here since I first wanted to test it out myself, and I have an appointment next week to get switched. But now the cat's out of the bag....

You are 100% right - trust me to miss off a crucial point. You do have to give Halifax the authority to close your account with the external provider. Always a tricky one if organisations that pay into your account don't action the change of bank details quick enough.

Another point to mention is that you can't receive the £100 if you've already received a cash incentive for switching within the last 18 months.

innovate

OK, so if I don't have a regular automated credit going into the account I want to switch from, will I still get the £100 (assuming I qualify on the other conditions)?

Can't see how Halifax could see whether I have an automated credit, and/or its origin, so I should be alright whether I have one or not?

YorkshireBoy

Der53 wrote: »

If your existing account is already 'main banking' you won't qualify.

One of my Reward accounts already receives my salary, and pays around 8 or 9 DDs each month.

If I were to move my salary to, say, Co-op this month (and set up a couple of DDs in readiness for switching back), would I still be classed as a 'main banking' customer and precluded from this offer if I were to apply later this month?

Don't mind closing the Co-op account...it was only kept open for the next switching offer!

Der53

innovate wrote: »

OK, so if I don't have a regular automated credit going into the account I want to switch from, will I still get the £100 (assuming I qualify on the other conditions)?

Can't see how Halifax could see whether I have an automated credit, and/or its origin, so I should be alright whether I have one or not?

Technically, no. The whole idea is to establish a 'Main Banking Relationship', so if you don't intend to transfer your salary/benefit payment then the relationship wouldn't be established.

However, all Halifax will do is write the organisation that pays a credit into your account with an instruction to re-direct the payment. There would be nothing to stop you notifying your employer directly to reverse the instruction. Halifax will write to the address you give to them but have no control over the request being actioned or if the address/reference given is correct. You'd be surprised how many people say they have a DWP payment going into an external account... I wonder if they actually do

Der53

YorkshireBoy wrote: »

One of my Reward accounts already receives my salary, and pays around 8 or 9 DDs each month.

If I were to move my salary to, say, Co-op this month (and set up a couple of DDs in readiness for switching back), would I still be classed as a 'main banking' customer and precluded from this offer if I were to apply later this month?

Don't mind closing the Co-op account...it was only kept open for the next switching offer!

I can't find a loophole for you here, I'm afraid

Based on what you have said your account will already have a MB Indicator. In order to lose your Main Banking status, you would have to either have no automated credit into any of your current accounts or any direct debits paid from your accounts for 2 out of 3 months... By which time the promotion will have ended, as a new style campaign starts at the beginning of Sept.

YorkshireBoy

Der53 wrote: »

I can't find a loophole for you here, I'm afraid

I was clutching at straws a little.

Never mind...another one will be along shortly!

Chjaka

Nuts... I was just about to re-instate the two reward accounts and the £200 would have come in handy if I hadn't already had £200 off of them 14 months ago.

chanz4

Hi wheres his "2) Any customer with an active current account, credit card, savings account, home insurance policy or mortgage will receive free life insurance to the value of £10k if they have a child under 5 and pass the usual medical underwriting questions. This promotion launches July 8. "

innovate

Branch only?

(so they can sell you some of their other stuff)