Maximising HSBC & Halifax's "Free" Money Offer

Krash420

I've been with HSBC for a very long time (close to 12 years if not more), and even longer with Halifax. I'm currently banking with Halifax, and getting the £5 a month from the reward account, and I've recently moved my ISA to HSBC as they currently have the best rates at a bank near me.

For the past year, I've pretty much stopped using HSBC (and First Direct), as I don't get any benefits from using them... until now. Unfortunately that meant I ended up being switched to a Basic Current Account. I've since gone in and changed myself to the Current Account, but I need to have the cash coming into the account for a couple of months to be able to upgrade to the Advance account which is required to get the £10 a month "bonus" from HSBC.

The requirements for HSBC advance account is £1750, and Halifax reward account is £750.
Now, I want to maximise both of these offers, and whilst my salary can easily be split so that it covers both, I'd rather it come into a single account. Now my question is, the £750 for halifax, as far as I know, it doesn't state where the source of this money needs to be... correct?

If so, I'm thinking of having my salaray paid into HSBC (which I've now changed), and then transfer it to Halifax for my usual payments and stuff. Will this work, or does it need to be a transfer from an account that isn't under my name?

I know HSBC's £1750 states it must be from an external source, but I believe another bank counts as an external source...

Am I right in thinking I can get the £10 for the Loyalty ISA and £5 for the Rewards account but just moving my pay from one account to the next once it's come in? Any help is appreciated.

grumbler

Krash420 wrote: »

Now my question is, the £750 for halifax, as far as I know, it doesn't state where the source of this money needs to be... correct?

Correct.

If so, I'm thinking of having my salaray paid into HSBC (which I've now changed), and then transfer it to Halifax for my usual payments and stuff. Will this work, or does it need to be a transfer from an account that isn't under my name?

Yes and no.

Am I right in thinking I can get the £10 for the Loyalty ISA and £5 for the Rewards account but just moving my pay from one account to the next once it's come in?

Yes - assuming that you mean 'by', not 'but', and that you meet all other requirements (DDs).