Halifax £100 for EXISTING customer and free Life Insurance

ahxcjb

adindas wrote: »

To get a fiver on Halifax reward, there must be at least 2 active DDs in the account.

Does it mean that people who are currently getting a fiver from their Halifax reward account is not eligible ?

What is automatic credit actually how they are different with standing order ?

thanks

This is so easy to beat. Just setup a savings account with Tesco Bank and Post Office. Then setup a DD for 1GBP each month to be transferred.

[Setup a recurring transfer BACK to Halifax from your savings accounts if you need to.]

Done.

myth123

Just some info for people debating doing this. I am an existing Halifax customer, I get the £5 per month in the reward account (it's not my main bank account). I did the switch online on Saturday (I used a current account with one Direct Debit for a credit card set up) and the £100 was paid in today. Easy peasy!

ahxcjb

myth123 wrote: »

Just some info for people debating doing this. I am an existing Halifax customer, I get the £5 per month in the reward account (it's not my main bank account). I did the switch online on Saturday (I used a current account with one Direct Debit for a credit card set up) and the £100 was paid in today. Easy peasy!

Hah! Love it!

gezza2k

YorkshireBoy wrote: »

When you say "main bank account", do you mean Halifax already received your salary by BACS Direct Credit and paid your bills by DD?

-- Yes

And one other question...did you have just the one Halifax account or several?

-- I have an old Easycash acc aswell.

Reason for all the questions is that I have 4 Reward accounts (one being my main account, ie salary in and DDs paid) and don't want to risk the £180 a year I get from the 3 that I shouldn't really have, should they decide to look further into my account (ab)use!

-- That's the risk.

Archi_Bald

YorkshireBoy wrote: »

Reason for all the questions is that I have 4 Reward accounts (one being my main account, ie salary in and DDs paid) and don't want to risk the £180 a year I get from the 3 that I shouldn't really have, should they decide to look further into my account (ab)use!

There is a big likelihood that they would want to close all but one of the Rewards if you ask about the £100 or a switch.

pqrdef

SG27 wrote: »

Applied to move from santander to halifax for the £100. But forgot that I need to use the santander travel insurance in September for a holiday. So I need the santander account open then! How long does the transfer take? I'm hopeing 4 weeks+?

I don't suppose they'll actually close the Santander account. But if they don't, don't forget you still need to feed it (£500/month ?) to avoid an underfunding charge.

SG27

pqrdef wrote: »

I don't suppose they'll actually close the Santander account. But if they don't, don't forget you still need to feed it (£500/month ?) to avoid an underfunding charge.

Thanks. But the t&cs for the £100 says you must let them close your old account.

Dr_Cuckoo3

SG27 wrote: »

Thanks. But the t&cs for the £100 says you must let them close your old account.

I have given some consideration to this , as I have dealings with banks requiring old accounts to be closed in order to obtain an account with them

And I wonder whether the new "7 day switching" initiative will involve the "old bank" acting on the "new bank's) request to close the account in the same way that direct debits are transferred

I would contact the existing bank and inform them that I have changed my instructions and no longer require to close the account and it should remain open (some future instructions are not irrevocable - but not this one)

Using the current procedure I doubt that the new bank would know that the old account has in fact been closed (how would they check ?)

The only things they can obtain from the other bank are the list of direct debits , standing orders and other payments

The account closure is simply a transfer of the balance (which may be £0) to the new bank via faster payments /BACS/cheque at the moment

xxdeebeexx

I've just found this thread and have decided to transfer my Co op bank account to my Halifax reward account.

However , I have just noticed point 4) in the T&c

4. Existing Bank of Scotland current account customers are not eligible for the offer.

I have a Vantage account with BOS so I guess I won't qualify for the £100 incentive

dx

Archi_Bald

Dr_Cuckoo3 wrote: »

The account closure is simply a transfer of the balance (which may be £0) to the new bank via faster payments /BACS/cheque at the moment

This may be so with some switcher services but with others (FD, Halifax, Santander) you get a form to sign that asks the old bank to close your account. Only Halifax have so far made this a mandatory part of their offers.

The new switcher service coming online in September will also close your old account if the available bumph is to be believed.