Halifax switching incentive

M0ney

Quick question - I've just got a text from Halifax to let me know that the switch is now complete, how long before I see the £100 appear in my account?

ricz_1

Mine appeared the next day (which would have been the 8th working day after I initiated the switch.)

M0ney

It's arrived now. Magic! Free money!

martin177

Hi , I switched to the Halifax a month ago and despite funding it with over £750 and having two direct debits set up I have received nothing .
Having just now spoke to them I am told its because the two direct debits have not been debited yet . One of them is a credit card which I simply have not used this month....Is this correct ???

GingerFurball_2

martin177 wrote: »

Hi , I switched to the Halifax a month ago and despite funding it with over £750 and having two direct debits set up I have received nothing .
Having just now spoke to them I am told its because the two direct debits have not been debited yet . One of them is a credit card which I simply have not used this month....Is this correct ???

Yes. The direct debits have to be paid every month.

FreshMilk

Good morning,

one requirement of the Halifax £100 incentive reads

Switch a monthly credit of at least £750 into your account and a minimum of 2 active monthly direct debits.

Could someone elaborate what is meant by a 'monthly credit'?
Should it be a recurring credit like a salary? Anything else?

Thank you!

B_G_B

FreshMilk wrote: »

Good morning,

one requirement of the Halifax £100 incentive reads
Quote:
Switch a monthly credit of at least £750 into your account and a minimum of 2 active monthly direct debits.


Could someone elaborate what is meant by a 'monthly credit'?
Should it be a recurring credit like a salary? Anything else?

Thank you!

The monthly credit can come from anywhere. Internal transfers are O.K. When I switched for the bonus, I funded the old account with £750+ a couple of days before the switch and pulled the £750 out of the Halifax account once the switch was complete. Not even sure that this was necessary, but just wanted to make sure. This certainly worked O.K. Switching bonus received a day or two after switch completed.

FreshMilk

B_G_B wrote: »

The monthly credit can come from anywhere. Internal transfers are O.K.

Thanks!

So if I a setup a standing order of £750 between my two Lloyds Vantange current accounts and then use the Halifax switching service, it will do the job? The account which gets credited should then be closed by the switching service, right?

B_G_B

FreshMilk wrote: »

Thanks!

So if I a setup a standing order of £750 between my two Lloyds Vantange current accounts and then use the Halifax switching service, it will do the job? The account which gets credited should then be closed by the switching service, right?

The account that they close will be the one that you ask them to switch from. Personally, I have always funded accounts manually by faster payment / transfer. Others prefer to use SO. Take your pick.

FreshMilk

B_G_B wrote: »

The account that they close will be the one that you ask them to switch from. Personally, I have always funded accounts manually by faster payment / transfer. Others prefer to use SO. Take your pick.

Thanks!

I also prefer to do transactions manually by faster payment. However, I'm wondering how such a payment can be switched by the Halifax switching service?
I mean, at the end of the day, one has to do the transfer oneself to the Halifax account.

B_G_B

FreshMilk wrote: »

Thanks!

I also prefer to do transactions manually by faster payment. However, I'm wondering how such a payment can be switched by the Halifax switching service?
I mean, at the end of the day, one has to do the transfer oneself to the Halifax account.

Such a payment isn't switched, but as long as £750+ enters the account during the first month, that will cover the incentive and the first fiver. If £750+ is paid in during the month after the switch, that will delay the incentive payment and push the first fiver back 1 month. The £750+ could be even paid in cash over the counter. They can’t switch that, but it would still count.:)