No Halifax reward for September?

JustAnotherSaver

Just running through the accounts for September. I see i got £5 on my solo account and there was £5 on the joint account but no £5 on the wifes solo account.

She got it in August and has been paid it for October.

I thought the criteria was not a penny less than £5k throughout the month and that is it. No need for a minimum monthly deposit, no need for direct debits.

The balance in her Halifax on 1st September was £5161. The lowest the balance was in September was £5159.

Have i missed something?

Ed-1

JustAnotherSaver said:

Just running through the accounts for September. I see i got £5 on my solo account and there was £5 on the joint account but no £5 on the wifes solo account.

She got it in August and has been paid it for October.

I thought the criteria was not a penny less than £5k throughout the month and that is it. No need for a minimum monthly deposit, no need for direct debits.

The balance in her Halifax on 1st September was £5161. The lowest the balance was in September was £5159.

Have i missed something?

If it wasn't paid in September then you need to be looking at the balance between 1st August and 31st August.

colsten

JustAnotherSaver said:

Just running through the accounts for September. I see i got £5 on my solo account and there was £5 on the joint account but no £5 on the wifes solo account.

She got it in August and has been paid it for October.

I thought the criteria was not a penny less than £5k throughout the month and that is it. No need for a minimum monthly deposit, no need for direct debits.

The balance in her Halifax on 1st September was £5161. The lowest the balance was in September was £5159.

Have i missed something?

Did she pay in £1,500 in September?

gt94sss2

You also need to pay in £1,500 into the account each month

JustAnotherSaver

colsten said:

Did she pay in £1,500 in AUGUST?

Ahh balls! That's where it's gone wrong.

It's me that does the money cycling and i've always just sent £1,500 through everything, even accounts that required less ... because £1,500 is the most that some of the accounts (Lloyds) ask for so it's just easier to send it through everything.

And for some reason i totally missed her solo Halifax account. No idea why as it generally takes the same path every time as i have a flowchart kind of thing saved to Google Drive for the route it takes.

Wont be doing that again.

crumpet_man

Did you also get stung with the £3 monthly fee?

PRAISETHESUN

If you keep a £5k balance you can automate the pay in by standing order as so: 

Main account --> Halifax £1500 
Halifax --> Main account £1500

Schedule both SOs to pay out on the same day. Since both accounts will have a balance you don't need to worry about about either going overdrawn. Also, it only matters that your balance is £5k+ at the end of the day so if it goes below that whilst the money is being shuffled around then it doesn't matter.

I do this for all accounts that have a monthly pay in requirement. Makes life easier as you don't need to remember to do anything. 

JustAnotherSaver

crumpet_man said:

Did you also get stung with the £3 monthly fee?

Just checked ... nope.

PRAISETHESUN said:

If you keep a £5k balance you can automate the pay in by standing order as so: 

Main account --> Halifax £1500 
Halifax --> Main account £1500

Schedule both SOs to pay out on the same day. Since both accounts will have a balance you don't need to worry about about either going overdrawn. Also, it only matters that your balance is £5k+ at the end of the day so if it goes below that whilst the money is being shuffled around then it doesn't matter.

I do this for all accounts that have a monthly pay in requirement. Makes life easier as you don't need to remember to do anything. 

I thought it couldn't dip below £5k at any point so then first question is does the funding need to be done externally or can it be done from a Halifax account?

If Halifax account then that's problem solved - i can just set a £1.5k SO to run through the necessary accounts and back to itself.

Second question is will that work for accounts that don't have £1.5k in? So let's say i run £1.5k from my HSBC to Halifax. I have a SO from Halifax to Lloyds and Lloyds back to HSBC. In reality the SO merry-go-round would actually be way more involved than that but to keep it real simple we'll go for that.

HSBC and Halifax have enough in, but with my Lloyds i only keep in £1 as the account only serves to give me cinema tickets.

So if Lloyds was to trigger first in the day, would it work or would it say sorry no can do?

I know there's a way to do this with the Halifax accounts without leaving £5k in there, or at least there seems to be from comments on here but it's one of those hush-hush we wont help other people kind of secrets because these people think that the banks ONLY react to what is said on MSE and absolutely nothing else.

Ed-1

JustAnotherSaver said:

crumpet_man said:

Did you also get stung with the £3 monthly fee?

Just checked ... nope.

Must be because it was the first month which is fee-free.

colsten

JustAnotherSaver said:

I thought it couldn't dip below £5k at any point so then first question is does the funding need to be done externally or can it be done from a Halifax account?

It's the balance at the end of the day (sometime after 5 pm, probably as late as 10pm) that counts. Fluctuations during the day don't matter.

JustAnotherSaver said:

Second question is will that work for accounts that don't have £1.5k in? So let's say i run £1.5k from my HSBC to Halifax. I have a SO from Halifax to Lloyds and Lloyds back to HSBC. In reality the SO merry-go-round would actually be way more involved than that but to keep it real simple we'll go for that.

HSBC and Halifax have enough in, but with my Lloyds i only keep in £1 as the account only serves to give me cinema tickets.

So if Lloyds was to trigger first in the day, would it work or would it say sorry no can do?

In theory it should still work, as all banks will try SOs for a second time after 14:00-ish if the SO failed through lack of funds in the early hours of the morning. They might even allow the first one through even if it reduces your balance to negative (no overdraft charges would become due if settled before end of the day). The incoming SO should easily be there by 14:00. Having said this, I only schedule outgoing SOs for amounts which I am certain will be in the account on the day at 00:01.

JustAnotherSaver said:

I know there's a way to do this with the Halifax accounts without leaving £5k in there, or at least there seems to be from comments on here but it's one of those hush-hush we wont help other people kind of secrets because these people think that the banks ONLY react to what is said on MSE and absolutely nothing else.

The Halifax Reward thread is full of information about the options (including at least one that has already been killed by too many people using it). 

JustAnotherSaver

Ed-1 said:

JustAnotherSaver said:

crumpet_man said:

Did you also get stung with the £3 monthly fee?

Just checked ... nope.

Must be because it was the first month which is fee-free.

First month i've been opted in or first month i've ballsed up?

I wouldn't have thought they'd operate a "we'll let you off this time" policy.

colsten said:

In theory it should still work, as all banks will try SOs for a second time after 14:00-ish if the SO failed through lack of funds in the early hours of the morning. They might even allow the first one through even if it reduces your balance to negative (no overdraft charges would become due if settled before end of the day). The incoming SO should easily be there by 14:00. Having said this, I only schedule outgoing SOs for amounts which I am certain will be in the account on the day at 00:01.

I might test this out with £5 then to see what happens. Sure would save a lot of hassle as the accounts i have to satisfy with this crediting are numerous - i don't just deal with my own.

colsten said:

The Halifax Reward thread is full of information about the options (including at least one that has already been killed by too many people using it). 

I've even been in that thread. It's about 10,000 pages long. Needle and haystack.

Since one of the ways was killed then since it no longer works - what was the workaround out of curiosity?