Closing account after switch incentive received?

meryll83

Can anyone tell me if there is a certain amount of time you need to retain your Halifax Reward account in order to not have the current £100 incentive clawed back?

Ed-1

meryll83 wrote: »

Can anyone tell me if there is a certain amount of time you need to retain your Halifax Reward account in order to not have the current £100 incentive clawed back?

You can close it the second after the incentive goes in. Halifax cannot claw it back with one exception:

"If you do not meet the conditions of the offer we may claim back the £100. We will do this by debiting £100 from your account."

Keeping the account open after the incentive is credited is not one of the conditions. Therefore they cannot claw it back if you close it.

colsten

Why close it when you can make £5/mth from it?

meryll83

Thanks for the quick reply, I couldn't see anything that indicated there was a timeframe, but just wanted someone else to confirm!

markwoodsuk

To Get the £5, I need to pay in £750 per month and have 2 direct debits. Can this just be a transfer from another bank or does it need to be a wage?

Lolly88

markwoodsuk wrote: »

To Get the £5, I need to pay in £750 per month and have 2 direct debits. Can this just be a transfer from another bank or does it need to be a wage?

It can be a transfer from another bank.

jimjames

Lolly88 wrote: »

It can be a transfer from another bank.

And can come straight out again. Mine only remains in the account for seconds.