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

WillPS

Same as others, pay off my credit cards. Most (all?) let you pay using debit card, but it's probably worth having a minimum payment set up by DD just in case.

StephenM_2

£500 to a credit card worked for me in June.
For July I've opened a NS&I Income Bonds account and put £500 in. According to Rewards Tracker, that is acceptable. So that's the method I'll use going forward.

polymaff

NS&I IB seem an easy way. The only concerns raised on MSE are how easy is easy access.

I requested a repayment 10am Tuesday and the funds arrived at about mid-day today, Wednesday.

ZeroSum

I've paid off credit card that worked, also depositing money into Yorkshire BS & ratesetter also worked

where_are_we

H-L Sipp - good if you are 55 - 75 retired and do the £2880 in £3600 out trick each year. You can also contribute to S&S Isa`s - we use x-o Isa`s.

Seldonista

I don't know if it would work for Halifax but I know NS&I, Vanguard, iWeb, HL all take contributions by debit card. So if you're saving/investing £500 a month anyway just do it via that.

JustAnotherSaver

Ok this may not be the most recent thread in the forum but it's the one that hit top result when I Googled "way around halifax £5 rewards". My rewards are due to renew 31 May and I've 5-6 accounts that come in to play with this. If it was just 1 then that'd be simple - pay off 1 credit card but as I say, it's 5-6.

I only have 1 credit card and as it's a cashback card then that's what I generally use to spend. A monthly direct debit will be in the region of £1,000-£1,400 so that could be 2 accounts taken care of with paying 2 lots of £500 from 2 different accounts.

That still leaves 3-4 accounts.

I don't really want to deposit in to anything investing because I have my investment accounts and their monthly payments set up and i don't want any more, plus I don't want risk to the £500.

If anyone reading this doesn't fancy posting on an open forum then my PM box is open if that suits.

I read of PayPal being one possible method. Bob sends to Frank, Frank gives Bob the money back. Job done. Not sure if that'd work or not and would prefer to know before the 31st.

veryintrigued

As you've alluded to, the fact it's number one on Google and the title of it is so explicit might make you wonder if institutions mentioned on it are 'exposed'!

The PM route sounds sensible.

GTR_King

I use my Halifax Reward Debit card to pay £500 into my post office saver then transfer money back that works for me 

JustAnotherSaver

Previous issues with Post Office would have me looking at alternatives. The problems I had getting my money back from them was more hassle than it's worth.