Halifax Reward Account £125 Switch question

shads1973

Hi folks,

Quick question. Have opened a Halifax reward account that pays £125 on switching. I had planned (and still do) to switch a Co-op basic bank account that I haven't used for some time. Is it safe to assume this is fine despite the account not having any balance/DD's/credit? I can't see anything in the limited term's and conditions on Halifax's website, though obviously the point of switching I thought was to switch a functional account so not sure if I qualify?

I understand the account itself needs 2 DD's and £750 a month paid in which isn't a problem.

badger09

shads1973 wrote: »

Hi folks,

Quick question. Have opened a Halifax reward account that pays £125 on switching. I had planned (and still do) to switch a Co-op basic bank account that I haven't used for some time. Is it safe to assume this is fine despite the account not having any balance/DD's/credit? I can't see anything in the limited term's and conditions on Halifax's website, though obviously the point of switching I thought was to switch a functional account so not sure if I qualify?

I understand the account itself needs 2 DD's and £750 a month paid in which isn't a problem.

If it were me, I would pay a small amount in and set up a SO to pay an even smaller amount out again. Just so that there is something for them to switch. But I am quite cautious;)

shads1973

In hindsight I think you're right, for the sake of a few clicks via online banking it can't hurt can it to make the account a little more "active"