Halifax Reward Switch

antonette254

Hi all,
I opened a Halifax reward account today & just wondered if I can switch my cashminder account for the £125 bonus? I know I won't qualify to get the £5 per month, as I've also transferred my salary, dd' etc to a new Co op current account I've just opened. So will qualify for their everyday rewards. Just wondered if Halifax will accept the cashminder for the switch?

jimjames

Only if it's a current account

colsten

antonette254 wrote: »

I know I won't qualify to get the £5 per month, as I've also transferred my salary, dd' etc to a new Co op current account I've just opened.

This doesn't follow at all. Lots of people here have the Halifax Reward as a secondary account, purely for the £5 each month. Reading round the forum should give you some ideas on how to do it.

antonette254

Spoke to Halifax directly & they confirmed that any current account can be used to receive the switch incentive of £125, which is the main reason I am doing the switch.
The Co Op Current account that I am now paying my salary into also has a monthly reward of upto £5.50 per month, so my old cashminder which I was just going to close will now earn me £125:beer::beer:

downhillfast

Set up a standing order for £500 each month from your main account to the Halifax account... and then a couple of days later have a standing order move it back to your main Coop account - this will earn you the £5 Halifax reward.

If you don't have sufficient balances to accommodate the £500 requirement in one go it can be done in smaller increments.

antonette254

Thanks Downhillfast that's a good Idea

changearound

I believe you need to pay in £750 to the Halifax account per month to get the £5 reward and have 2 direct debits pay out.

As downhillfast says, the pay-in part is easy - just transfer from your co-op account and then transfer it back again.

As for the DDs, Tesco savings accounts can be funded by DD - that way you're sending money to yourself. You could also link your account to Paypal.

Alternatively, you could always pocket the Halifax switch incentive and then switch again. The nice people at Yorkshire Bank will give you £150 if you switch to them.

antonette254

Thanks Changearound, I have 2 tesco accounts so that will work. :j

downhillfast

changearound wrote: »

I believe you need to pay in £750 to the Halifax account per month to get the £5 reward and have 2 direct debits pay out.

Yes, sorry, you are correct. I don't know where I got the £500 figure from! My accounts are all done on SOs so now they're set up I don't really think about it too much other than to move any interest etc to better paying accounts!

antonette254

Just want to say very impressed with Halifax so far. Switch date isn't until 18th & the incentive was paid today.

20aday

antonette254 wrote: »

Just want to say very impressed with Halifax so far. Switch date isn't until 18th & the incentive was paid today.

I switched to the Halifax in December as was also impressed with the speed in which the incentive was paid.