Halifax Reward is it still worth it ?

Snakey

I am a bit short on direct debits so I'm thinking of switching the Halifax to an account with an introductory bonus, same reasoning as Runningfast. Need to find one though!

I did hear that TSB are running an offer, but I already have an account with them - where I did not do a switch - and presumably they want new customers (newly-opened accounts) only, rather than existing account-holders doing just the switching part.

TheShape

jennifernil wrote: »

I was also wondering whether the £3 is worthwhile, but it is money for doing very little. We have 5 accounts between us with one being our main account.

The DDs on the other 4 go £3 to charity and £2 to a Tesco saver, so paying out the whole £5 reward. Cannot reduce them to a total of only £3, so will have to either top up the accounts monthly or leave a small balance to cover the shortfall for a while.

With rates reducing everywhere I might start by adding £10 to each account and see how it goes.

Other possibility is to set up SOs from our main account to each of the 4 to send them the missing £2 every month.

You can have a Tesco Internet Saver and a Tesco Instant Saver each taking £1 per month, so only £2 total, then either cancel the charity DD or move it to your main account.

myth123

It's absolutely still worth it for me, it takes 30 seconds to send £750 in and then our per month I just have to adjust my tesco monthly direct debits to reflect the lower reward payment.

jennifernil

TheShape wrote: »

You can have a Tesco Internet Saver and a Tesco Instant Saver each taking £1 per month, so only £2 total, then either cancel the charity DD or move it to your main account.

True, but would be mean to cancel the charity DDs. And I think Tesco are already processing enough DDs for me!

Going to be a little hassle whatever we do, so might as well leave things as they are, I know the set-up works, and just do a SO to each Reward account for £2 per month.

Eco_Miser

jennifernil wrote: »

Other possibility is to set up SOs from our main account to each of the 4 to send them the missing £2 every month.

You're already transferring £750 in and out each month. Change it to £748 out or £752 in.

jennifernil

I do all the transfers manually on the second of the month, there are many more accounts involved than the Halifax Reward ones, plus some of the DDs go out right at the start of the month, so I prefer to keep the topping up of the accounts separate, but thanks for the suggestion.