Switch to Halifax Reward Current Account

sheffieldeagle

Hi

I'm thinking of switching my Natwest current account to Halifax to take advantage of the cashback offer (Halifax & Quidco) and the £5/month reward. The natwest account has two d/ds attached to it and I pay my salary into it.
Beforre taking the plunge I just wanted to make sure I'm not missing anything. I know I will have to be careful with the timing of my salary to get the £5 but I wondered if there was anything else I should take into consideration.

Many thanks

lulu_92

I got this account in June and I get paid 4-weekly. I've never had an issue in getting the reward.

Personally the cashback offers for me aren't great but the longer you have the account the more that are offered.

YorkshireBoy

sheffieldeagle wrote: »

Beforre taking the plunge I just wanted to make sure I'm not missing anything.

It's really very simple. Each calendar month you must:

1. Credit a minimum of £750
2. Pay out 2 different direct debit mandates
3. Stay in credit

And that's it.

sheffieldeagle

Anyone else have any thoughts on possible pitfalls of switching to Halifax Reward account.

Cheers

inspireme247

YorkshireBoy wrote: »

3. Stay in credit

Do you mean I need to leave £750 there for a calendar month? I was planning to put £750 there and back on same day...

YorkshireBoy

Stay in credit means do not go into debit, ie use an overdraft...whether authorised or unauthorised.


I suppose you could run it down to £0, but I prefer to run mine with £1 in each. I'm sure others on here do run their accounts at £0, but I don't want to risk any 'dormancy' flag being applied to my accounts.

inspireme247

Cheers YorkshreBoy, I thought so. And I agree about leaving it at £1, I will do that

lulu_92

Never thought about keeping £1 in it. This might come in handy.

cheexy

inspireme247 wrote: »

Cheers YorkshreBoy, I thought so. And I agree about leaving it at £1, I will do that

Just remember to have enough money in the account to cover DDs. I suspect £1 may not cover this

YorkshireBoy

cheexy wrote: »

Just remember to have enough money in the account to cover DDs. I suspect £1 may not cover this

Sorry perhaps I should have been more clear earlier.


£1 is the 'minimum' I keep in the account. There's £6 in the accounts from the 2nd working day of the month until the 10th, when my 2 x savings accounts collect £2.50 each from 3 of my Reward accounts (the 4th pays my bills so is covered anyway).