We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

How am I am getting 3% interest with H/fax rewards and got £100 for transfer to H/fax

Mchambers
Mchambers Posts: 1,054 Forumite
edited 30 April 2017 at 5:51PM in Budgeting & bank accounts
Hi,

I had a Nationwide flexaccount. Had 2 direct debits payable to Tesco bank accounts in my name. Each direct debit is for £1 only. Put £100 into N/wide.

Transferred N/wide to H/fax rewards. Got £100 for transfer.

Very simple exercise and easy money to be made.

Done similar with M&S and Co-op.

HTHs.
«1

Comments

  • ceredigion
    ceredigion Posts: 3,709 Forumite
    Eighth Anniversary 1,000 Posts Photogenic
    Your not getting 3%
  • eskbanker
    eskbanker Posts: 41,010 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ceredigion wrote: »
    Your not getting 3%
    ....and it's not interest either! Apart from that, spot on....
  • bigadaj
    bigadaj Posts: 11,531 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper
    ...and co op requirements are different, it's sounding a bit lie the Spanish Inquisition sketch...
  • Mchambers
    Mchambers Posts: 1,054 Forumite
    Just realised that in at I can get 300% interest by keeping just £1 in H/fax. I will never go overdrawn lol !!
  • Mchambers
    Mchambers Posts: 1,054 Forumite
    bigadaj wrote: »
    ...and co op requirements are different, it's sounding a bit lie the Spanish Inquisition sketch...

    Please explain.
  • ceredigion
    ceredigion Posts: 3,709 Forumite
    Eighth Anniversary 1,000 Posts Photogenic
    Mchambers wrote: »
    Please explain.



    CO-OP needs 4 DD,s
    Halifax needs wait for it. none
  • Mchambers
    Mchambers Posts: 1,054 Forumite
    edited 30 April 2017 at 9:05PM
    ceredigion wrote: »
    CO-OP needs 4 DD,s
    Halifax needs wait for it. none

    Thanks. For info, my N/wide account that I transferred to Coop had 6 DDs.

    BTW, my N/wide account that I transferred to H/fax had 2 DDs (and I am transferring £750 per month) in order to get their £3 per month bonus.

    HTHs.
  • Shakin_Steve
    Shakin_Steve Posts: 2,853 Forumite
    Tenth Anniversary 1,000 Posts Photogenic Name Dropper
    Mchambers wrote: »
    Thanks. For info, my N/wide account that I transferred to Coop had 6 DDs.

    BTW, my N/wide account that I transferred to H/fax had 2 DDs (and I am transferring £750 per month) in order to get their £3 per month bonus.

    HTHs.
    Helps who? :D
    I came into this world with nothing and I've got most of it left.
  • bigadaj
    bigadaj Posts: 11,531 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper
    Mchambers wrote: »
    Thanks. For info, my N/wide account that I transferred to Coop had 6 DDs.

    BTW, my N/wide account that I transferred to H/fax had 2 DDs (and I am transferring £750 per month) in order to get their £3 per month bonus.

    HTHs.

    You can have more than one current account you know....
  • eskbanker
    eskbanker Posts: 41,010 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    bigadaj wrote: »
    it's sounding a bit lie the Spanish Inquisition sketch...
    I'm pretty sure this thread is an action replay of one that was deleted previously and it's a different Python sketch that springs to my mind:
    02may-Monty-Python-Spam-sketch.jpg
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.6K Banking & Borrowing
  • 254.5K Reduce Debt & Boost Income
  • 455.5K Spending & Discounts
  • 247.5K Work, Benefits & Business
  • 604.4K Mortgages, Homes & Bills
  • 178.6K Life & Family
  • 261.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.