Halifax Reward Account changing to £3 charge with “lifestyle rewards”

polymaff

Opened number 3 and switched one-foot-in-the-grave M&S account on Sunday, £100 received Wednesday, DC received and £500 to NS&I Direct Saver, today, Thursday.

Looking good.

Cptralls

I've just applied for the Halifax account and the £100 switch. However, I don't make £500 of purchases on my card each month, failing this is the only other option to hold £5k in the account to earn the £5?

polymaff

Cptralls said:

I've just applied for the Halifax account and the £100 switch. However, I don't make £500 of purchases on my card each month, failing this is the only other option to hold £5k in the account to earn the £5?

As suggested in many recent posts, fund an account which accepts DC payments - e.g. NS&I Direct Saver - then pull the money back asap.

colsten

polymaff said:

Cptralls said:

I've just applied for the Halifax account and the £100 switch. However, I don't make £500 of purchases on my card each month, failing this is the only other option to hold £5k in the account to earn the £5?

As suggested in many recent posts, fund an account which accepts DC payments - e.g. NS&I Direct Saver - then pull the money back asap.

Where 'asap' at NS&I is a minimum of 8 calendar days 

polymaff

colsten said:

polymaff said:

Cptralls said:

I've just applied for the Halifax account and the £100 switch. However, I don't make £500 of purchases on my card each month, failing this is the only other option to hold £5k in the account to earn the £5?

As suggested in many recent posts, fund an account which accepts DC payments - e.g. NS&I Direct Saver - then pull the money back asap.

Where 'asap' at NS&I is a minimum of 8 calendar days 

At about 1p per day. ...

colsten

polymaff said:

colsten said:

polymaff said:

Cptralls said:

I've just applied for the Halifax account and the £100 switch. However, I don't make £500 of purchases on my card each month, failing this is the only other option to hold £5k in the account to earn the £5?

As suggested in many recent posts, fund an account which accepts DC payments - e.g. NS&I Direct Saver - then pull the money back asap.

Where 'asap' at NS&I is a minimum of 8 calendar days 

At about 1p per day. ...

It's not the 1p that matters if you haven't really got £500 (or several times £500) spare money kicking about. People are so used to instant transfers now that they might not expect to have to wait a small eternity. Not a major issue if you have no immediate need / plan for the money, obviously.

Fingerbobs

I'm probably one of the three people in the country who misses Sainsbury's SaveBack. Debit Card deposits were available for withdrawal the next day, and withdrawals happened on the same day, so you could get your money back from a Debit Card deposit in under 24 hours. (And it looked just like a normal purchase in Sainsbury's, which also had advantages.)

ZeroSum

Fingerbobs said:

I'm probably one of the three people in the country who misses Sainsbury's SaveBack. Debit Card deposits were available for withdrawal the next day, and withdrawals happened on the same day, so you could get your money back from a Debit Card deposit in under 24 hours. (And it looked just like a normal purchase in Sainsbury's, which also had advantages.)

You could do similar recycling money between Ratesetter. Make a deposit late on in the evening, then withdraw straight away & money would be back in account by around 5pm next day.

trient

funkycredit said:

I've got 3x Rewards, as do a few others. Unlikely you'll be downgraded as it's all done via online banking with no credit search so instantly opened too. 

Pretty sure you get credit checked for opening additional accounts.

Ghostcrawler

ZeroSum said:

Fingerbobs said:

I'm probably one of the three people in the country who misses Sainsbury's SaveBack. Debit Card deposits were available for withdrawal the next day, and withdrawals happened on the same day, so you could get your money back from a Debit Card deposit in under 24 hours. (And it looked just like a normal purchase in Sainsbury's, which also had advantages.)

You could do similar recycling money between Ratesetter. Make a deposit late on in the evening, then withdraw straight away & money would be back in account by around 5pm next day.

Didn't Ratesetter close down? they sent all my deposit money with accrued interest back and cannot put any new money, so basically the account is closed down.