Halifax £100 switch

TheEffect

I've got an old Nationwide account I don't use, and a Halifax Reward which is currently £500 overdrawn.

Can I setup two direct debits on the Nationwide account, switch it over to Halifax and then pay in £800 via my main account held elsewhere, to get the free £100?

I'll clear the £500 in the next week or two, but this seems like a quick way to get a free £100...?

Thanks.

poolforever

Suspect the £500 overdrawn may cause a problem ??

TheEffect

poolforever wrote: »

Suspect the £500 overdrawn may cause a problem ??

That's what I was thinking. I'll clear the £500 in about 9 days, so maybe I'll do the switch then...

YorkshireBoy

The answer to your question is yes, providing you haven't had an incentive since 2012 (and you meet the criteria on their website).


The fact you're currently overdrawn will not matter.

TheEffect

YorkshireBoy wrote: »

The answer to your question is yes, providing you haven't had an incentive since 2012 (and you meet the criteria on their website).


The fact you're currently overdrawn will not matter.

Great, thank you.

Will be able to reclaim the £16 in overdraft fees, and £84 profit.

YorkshireBoy

TheEffect wrote: »

Will be able to reclaim the £16 in overdraft fees, and £84 profit.

...and start generating the £5 Reward payments (again) too.

TheEffect

YorkshireBoy wrote: »

...and start generating the £5 Reward payments (again) too.

Yup. Might have to open a second Halifax account to switch over to Co Op for their free £100 too.