Halifax switch bonus

Birdwell

Hi,

While looking at Halifax's HTB, I noticed their £100 bonus for switching a current account to them (I'm looking at the Rewards Current Account).
What surprised me is that I could see no mention of minimal funding of the account, no reimbursing the bonus if you close the account less than XX days after opening, no minimum number of transactions on the account, no conditions.

Does it mean I can open a new cash account with my current bank, "switch" it to Halifax, get the £100 bonus (which they promise to pay within three days of the switch being complete), and close the account the following day?

colsten

Birdwell wrote: »

Does it mean I can open a new cash account with my current bank, "switch" it to Halifax, get the £100 bonus (which they promise to pay within three days of the switch being complete), and close the account the following day?

Yes it does. But if you keep the account, and fulfill the conditions (easily done), they'll pay you £5 a month. That would be another £60 a year that you didn't have before

Birdwell

So I suppose that's how they make sure you don't just switch and close the account just after...
Thanks colsten

YorkshireBoy

Birdwell wrote: »

So I suppose that's how they make sure you don't just switch and close the account just after...

Not really, because the smart folk would simply open another Halifax Current Account and switch that one away instead.