Halifax Saver Prize Draw - anyone won yet?

Kate01984

It’s not a fraud. I’d forgotten I was in the draw as I entered years ago. I won a life-changing amount of money this year. I’m so grateful. Don’t let your savings go below £5,000 when you are in the draw or you’ll be out. Good luck.

K2t

Hi, if I already have over the required amount sitting in a Halifax account , are there any negatives to signing up with the prize draw? Is my money safe etc? Many thanks.

eskbanker

K2t wrote: »

Hi, if I already have over the required amount sitting in a Halifax account , are there any negatives to signing up with the prize draw? Is my money safe etc? Many thanks.

The money is safe in the sense that if it's in a Halifax savings account then it's covered by FSCS protection.

However, a sizable negative is the fact that Halifax's interest rates on savings accounts are derisory and easily beaten elsewhere....

Paulbull

Yes 100 pound

Lulibella

I think the conclusion is that once you’ve decided (with the help of your Poundland crystal ball) that you’re unlikely to win a random prize draw, nothing and nobody is going to change your mind. You’ll continue to doubt and question it’s validity.
If you have a certain amount in certain accounts you get (as a perk) entered into a monthly draw. Hundreds of people are drawn every month. If you win, you celebrate. If you don’t, you forget about it. You shouldn’t and needn’t decide your investment choices on your chances of winning a random draw.
Finally, thanks to all the people who tried valiantly to explain why there’s absolutely no comparison to Premium Bonds or Auntie Mabel’s church raffle.

ovusa

Halifax prize draw - website frequently asked questions
Can I see a list of winners?
Yes, you can ask for a list of the winners for the last 6 months in any of our branches.

Recently called in at my local branch and spoke to a member of staff, asked if I could see the list of winners. Received a blank look and was asked to repeat my question - she had no clue about the list and said she was only the assistant manager (!) She said she has never seen the list and would have to make enquiries and phone me. She never called me so I went in again and spoke to a different member of staff - I received the same blank look, she has never seen the list!

Fingerbobs

eskbanker wrote: »

The money is safe in the sense that if it's in a Halifax savings account then it's covered by FSCS protection.

However, a sizable negative is the fact that Halifax's interest rates on savings accounts are derisory and easily beaten elsewhere....

I confess I keep £5k "saved" with the Halifax purely for the prize draw.
It's handy that their Regular Saver account, which pays a half-decent 2% interest, qualifies for the draw, so it's possible to (indirectly) "drip-feed" from one of their pathetic easy-access savings accounts into the Regular Saver. Provided the combined balance on both accounts doesn't drop below £5k you remain eligible for the draw.

mrsbomb19

A few years ago I had a letter come recorded delivery and it was from Halifax saying Id won a prize. I had to go into the bank for a meeting type thing to see what I’d won.  Ended up being £100 but better than nothing

McCabe71

I have been registered for this prize draw for over 10 years, so my savings account has been eligible to take part in over 120 draws, and given that there are 1500 prizes of £100 each month, that means I have had 180,000 goes at winning the smallest prize in the past 10 or so years. I've never won a penny. Over a similar time period I have been putting money into Premium Bonds, and I have won the smallest prize available (£25) over a hundred times, I have also won £100 about four times, and £1000 once. Given that the odds of winning the Halifax draw are meant to be shorter, I am surprised never to have won anything at all in over ten years. It seems I am lucky with Premium Bonds, but profoundly unlucky with the Halifax draw. 

eskbanker

McCabe71 said:

the odds of winning the Halifax draw are meant to be shorter

What do you believe the Halifax odds to be, and where have you seen this quantified?

McCabe71 said:

I have been registered for this prize draw for over 10 years

P.S. The first draw was in December 2011, i.e. nine years (plus a few weeks) ago!

https://www.moneysavingexpert.com/news/2011/09/halifax-launches-premium-bond-style-savings-draw-is-it-any-good/