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

masonic

xlnc99 said:

masonic said:

xlnc99 said:

For arguments sake 100k at 2.5 interest is 2.5 per year. Do you know how much that bank makes with your 100k. Try at least 50% per month from that 100k that you have given them. They make 50% at least from your 100k and give you back 2.5%. Sounds fair

That is probably the most ridiculous statement I've ever read on these forums.

Not your fault, you dont know how banks operate and what they do. I wish i was like you, life was more simple

Your statement, that banks make 50% per month on money they hold in deposit accounts is so preposterous that I'm confident not a single person reading your post would believe it for a moment.

But for your benefit, there is approximately £1.5 trillion held in retail deposit accounts in UK financial institutions. 50% per month of that is £750 billion per month or £9 trillion per year. To put that in perspective, in 2018 the UK financial services sector contributed a little under £0.15 trillion to the overall UK GDP of a little over £2 trillion.

masonic

At least with posters like that I can, in good conscience, add them to my ignore list safe in the knowledge there is little risk of anyone getting harmed by acting on anything they say.

xlnc99

This thread is a lesson to us all. Nothing wrong with a healthy debate and learning new things everyday.
Knowledge is power

where_are_we

Reminds me of when I was a kid back in the sixties, I would sometimes watch the wrestling on TV on a Saturday afternoon.  The end game was often a "submission".  Personally, I "submit" to the poster, otherwise the 38 pages he referred to earlier will double in no time - I am not joking.

colsten

That ignore function is one of the best features of the forum.

xlnc99

where_are_we said:

Reminds me of when I was a kid back in the sixties, I would sometimes watch the wrestling on TV on a Saturday afternoon.  The end game was often a "submission".  Personally, I "submit" to the poster, otherwise the 38 pages he referred to earlier will double in no time - I am not joking.

I force no man or woman by submission i am merley trying to explain what is happening infront of your own eyes. I am trying to open your eyes and let you see for yourself. No-one should be forced to do anything, they should learn and do their own research. I am just giving you the tools

soulsaver

This thread seems to have morphed into something completely off topic..
Maybe to bring it back: Did anyone try to register their BoS Reward account in the Hfx rewards process?

Retiredin2009

Is there more than one type of Halifax Reward account as I have as yet to receive any letter or email or online correspondence about losing the £2 reward?  

broju

Retiredin2009 said:

Is there more than one type of Halifax Reward account as I have as yet to receive any letter or email or online correspondence about losing the £2 reward?  

Same here!!

Fingerbobs

Retiredin2009 said:

Is there more than one type of Halifax Reward account as I have as yet to receive any letter or email or online correspondence about losing the £2 reward?  

There are two versions - "Reward" and "Ultimate Reward." The "Reward" is free, but the "Ultimate Reward" has a monthly fee. 
My electronic "letter" is dated 12th March 2020, and is entitled "Reward Current Accounts are changing." in my online Inbox.