New Halifax Reward account. Has anyone figured out a way around £500 spending?

Nath4n

Just pay £500 off your credit card each month (or the full bill if easier) using Halifax debit card. Has worked for me since launch.

B0bbyEwing

Nath4n said:

Just pay £500 off your credit card each month (or the full bill if easier) using Halifax debit card. Has worked for me since launch.

For those with 3 that'd be £1500. I hope I wouldn't be spending that on a credit card every month. 


For my situation I'd hope there's an alternative if my savings account stops ticking the box. As I've just opened a 3rd for both my wife and myself, I suspect I'll no longer be able to go via the savings account soon enough. 

Vortigern

Ed-1 said:

Skipton may be starting to clamp down on this

I suspect that the issue is not with the paying in of £500 by debit card, but with the quick withdrawal of the £500 and keeping the account balance at or near to zero.

k_man

B0bbyEwing said:

Nath4n said:

Just pay £500 off your credit card each month (or the full bill if easier) using Halifax debit card. Has worked for me since launch.

For those with 3 that'd be £1500. I hope I wouldn't be spending that on a credit card every month. 


For my situation I'd hope there's an alternative if my savings account stops ticking the box. As I've just opened a 3rd for both my wife and myself, I suspect I'll no longer be able to go via the savings account soon enough. 

YBS allow DC payments, and even suggest it as the easiest way to add money to their regular savers when you open one.

But as above, the common issue is payment followed by quick removal of funds

Ed-1

Vortigern said:

Ed-1 said:

Skipton may be starting to clamp down on this

I suspect that the issue is not with the paying in of £500 by debit card, but with the quick withdrawal of the £500 and keeping the account balance at or near to zero.

Nope the funds stay in the account then are withdrawn then debit carded back in.

It's probably the number of drbit card payments. Nearly 200 x £500 a year.

AmityNeon

Ed-1 said:

Vortigern said:

Ed-1 said:

Skipton may be starting to clamp down on this

I suspect that the issue is not with the paying in of £500 by debit card, but with the quick withdrawal of the £500 and keeping the account balance at or near to zero.

Nope the funds stay in the account then are withdrawn then debit carded back in.

It's probably the number of drbit card payments. Nearly 200 x £500 a year.

That averages over 16 a month... for one person to one account? 

Ed-1

AmityNeon said:

Ed-1 said:

Vortigern said:

Ed-1 said:

Skipton may be starting to clamp down on this

I suspect that the issue is not with the paying in of £500 by debit card, but with the quick withdrawal of the £500 and keeping the account balance at or near to zero.

Nope the funds stay in the account then are withdrawn then debit carded back in.

It's probably the number of drbit card payments. Nearly 200 x £500 a year.

That averages over 16 a month... for one person to one account? 

17 reward accounts...

crumpet_man

Ed-1 said:

Vortigern said:

Ed-1 said:

Skipton may be starting to clamp down on this

I suspect that the issue is not with the paying in of £500 by debit card, but with the quick withdrawal of the £500 and keeping the account balance at or near to zero.

Nope the funds stay in the account then are withdrawn then debit carded back in.

It's probably the number of drbit card payments. Nearly 200 x £500 a year.

If you are withdrawing then the funds are not staying in the account.

If you did 17 X £500 every month but didn't withdraw it there wouldn't be a problem.

Ed-1

crumpet_man said:

Ed-1 said:

Vortigern said:

Ed-1 said:

Skipton may be starting to clamp down on this

I suspect that the issue is not with the paying in of £500 by debit card, but with the quick withdrawal of the £500 and keeping the account balance at or near to zero.

Nope the funds stay in the account then are withdrawn then debit carded back in.

It's probably the number of drbit card payments. Nearly 200 x £500 a year.

If you are withdrawing then the funds are not staying in the account.

If you did 17 X £500 every month but didn't withdraw it there wouldn't be a problem.

E.g. 1st January withdraw £8,500 to Halifax. 17 x £500 back to Skipton

£8,500 stays in Skipton for rest of month.

1st February repeat..

Band7

Ed-1 said:

crumpet_man said:

Ed-1 said:

Vortigern said:

Ed-1 said:

Skipton may be starting to clamp down on this

I suspect that the issue is not with the paying in of £500 by debit card, but with the quick withdrawal of the £500 and keeping the account balance at or near to zero.

Nope the funds stay in the account then are withdrawn then debit carded back in.

It's probably the number of drbit card payments. Nearly 200 x £500 a year.

If you are withdrawing then the funds are not staying in the account.

If you did 17 X £500 every month but didn't withdraw it there wouldn't be a problem.

E.g. 1st January withdraw £8,500 to Halifax. 17 x £500 back to Skipton

£8,500 stays in Skipton for rest of month.

1st February repeat..

Going by the letter you received, they didn't like it.