What are the Halifax Reward loopholes?

7sefton

I’ve seen lots of separate mentions of how to get multiple Halifax Reward accounts over the years (eg upgrading and then downgrading) but never captured the up-to-date tips in one place. 

Personally I’ve got 3 single-name Reward accounts which I’ve held for over a decade... so not doing too badly, but always open to ways to get more!

someone

My understanding is the accounts became "Reward" accounts under original terms but new accounts have been gradually been subjected to restrictions. TBH with 3 accounts you could be making £180 /year tax free (cashback from charging £500 /month to each debit card), I wouldn't bother trying to rock the boat any further.

kaMelo

7sefton said:

I’ve seen lots of separate mentions of how to get multiple Halifax Reward accounts over the years (eg upgrading and then downgrading) but never captured the up-to-date tips in one place. 

Personally I’ve got 3 single-name Reward accounts which I’ve held for over a decade... so not doing too badly, but always open to ways to get more!

There isn't any loopholes, there never really was. Holding multiple reward accounts like you have is/was possible from past upgrades/downgrades and less than strict terms and conditions at the time. 
The terms for accounts opened from now are explicit unfortunately. Two accounts per person, one solo and one joint.

Alex9384

kaMelo said:
The terms for accounts opened from now are explicit unfortunately. Two accounts per person, one solo and one joint.

Is it two Reward accounts or any accounts? I already have 2 Halifax account. One is a Reward account. I thought I can upgrade the other one to Reward account too.

kaMelo

Alex9384 said:

kaMelo said:
The terms for accounts opened from now are explicit unfortunately. Two accounts per person, one solo and one joint.

Is it two Reward accounts or any accounts? I already have 2 Halifax account. One is a Reward account. I thought I can upgrade the other one to Reward account too.

As they say, a picture tells a thousand words. These are their terms and conditions for all current accounts.
https://www.halifax.co.uk/assets/pdf/bankaccounts/pdf/bank-account-guide.pdf

Specifically on how many you can hold.

Alex9384

OK, thanks! I didn't notice this before. I only remembered that I could have 3 current accounts.

Alex9384

So I just tried to upgrade it and it looks like it worked... In my online banking it still shows one Reward account and one Current account, but I think it will be changed in a couple of days?  I don't remember how it went with the upgrade of the first account, whether its name was changed immediately or after some time.

Ed-1

Alex9384 said:

So I just tried to upgrade it and it looks like it worked... In my online banking it still shows one Reward account and one Current account, but I think it will be changed in a couple of days?  I don't remember how it went with the upgrade of the first account, whether its name was changed immediately or after some time.

If you log back in it will have changed name.

The system lets you open or upgrade to up to the 3 Reward accounts (despite the T&Cs). Remember to add Reward Extras to each one.

To get any more than 3 requires some clever work at application stage

funkycredit

Agreed with above. I have 3 and still get the £5 x 3 monthly. I just pay one lot of £500 into my main credit card then the other two I deposit £500 into post office savings to meet the 3 lots of criteria. 

Katiehound

When Halifax Reward first launched (whenever that was!) you could have 3 accounts. Then you could have 2 (but I switched one when it got to £2 pm and the switch was a lot more generous!) Finally it got down to one (I am not talking about joint accounts)
Perhaps it is time to open a new account??!!

tel_

Katiehound said:

When Halifax Reward first launched (whenever that was!) you could have 3 accounts. Then you could have 2 (but I switched one when it got to £2 pm and the switch was a lot more generous!) Finally it got down to one (I am not talking about joint accounts)
Perhaps it is time to open a new account??!!

Yes, I'm thinking of opening a second one too. Just need to work out how to pay another £500 via debit card (without buying something of course).