Potentially incorrect information

dkay59

Hi, on www .moneysavingexpert .com /banking/compare-best-bank-accounts
under subheading "Specialised alternatives" (broken up with spaces as links arent allowed for new users)

it says

"The Halifax* Reward account doesn't require regular monthly deposits, but unless you sometimes pay at least £750 in, you'll never earn any interest."

However when you goto the halifax link, it says you have to "credit it with a minimum of £750 each calendar month", also ir doesnt award intrest, it pays £5 per month if you are in credit.

Herbalus

Both websites are correct.

Halifax are saying that you have to credit £750 each month to get the £5 every month (you also need 2 direct debits and have avoided overdraft). You don't have to do this. If you pay in nothing, you simply don't get the £5. That is why MSE says it doesn't require monthly deposits, because the funding requirement is for the £5, not the actual account.

So if you sometimes pay in £750 in a month, and have avoided overdraft and paid 2 direct debits, then you will get £5 in those months. So the MSE article is correct. Interest and £5 are basically loose equivalents here.