What are the Halifax Reward loopholes?

datz

Ed-1 said:
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

Can confirm that the above is correct. The platform allows individuals to open/upgrade 3 reward accounts, regardless of whether those 3 are made up of sole or joint - though 6 sole obviously makes more sense for couples from a rewards perspective. The limit of 3 is per user profile btw, so multiple user profiles (under one's own name) allows for more possibilities.

For the record, I only have the 3, but different people will draw the line at different points...

datz

thegentleway said:

I had 3. Closed them all down. Don’t you have to spend £500 a month on your debit card to get the £5 reward? 

Meeting the debit card spend requirements doesn't mean you have to actually part with the cash.

thegentleway

datz said:

thegentleway said:

I had 3. Closed them all down. Don’t you have to spend £500 a month on your debit card to get the £5 reward? 

Meeting the debit card spend requirements doesn't mean you have to actually part with the cash.

Premium bonds?

datz

thegentleway said:

datz said:

thegentleway said:

I had 3. Closed them all down. Don’t you have to spend £500 a month on your debit card to get the £5 reward? 

Meeting the debit card spend requirements doesn't mean you have to actually part with the cash.

Premium bonds?

There's a relatively long list of savings providers (and investment providers) that allow payments into accounts via debit cards. NS&I is just one of them.

Some will hold onto it for longer than others before clearing it for withdrawal again. Others you might not even be in a rush to withdraw (e.g. if you snagged the 1.2% easy access at Skipton a while back).

hermante

The loophole is to use curve to deposit into ernie with a credit card on the last day of each month, wait for a month to enter the draw, then withdraw it to the halifax account on the 1st and pay off the credit card without having actually spent any of your own money and possibly winning a million pounds in the process.

NottinghamKnight

hermante said:

The loophole is to use curve to deposit into ernie with a credit card on the last day of each month, wait for a month to enter the draw, then withdraw it to the halifax account on the 1st and pay off the credit card without having actually spent any of your own money and possibly winning a million pounds in the process.

The chances of winning £25 using that strategy are pretty low, let alone the million.

colsten

hermante said:

The loophole is to use curve to deposit into ernie with a credit card on the last day of each month, wait for a month to enter the draw, then withdraw it to the halifax account on the 1st and pay off the credit card without having actually spent any of your own money and possibly winning a million pounds in the process.

Not sure what you are trying to achieve with a credit card as you need to use your Halifax debit card if you want the monthly reward. Although you are free to use Curve with your Halifax debit cards, there’s no need to do so. 

funkycredit

tel_ said:

funkycredit said:

Nothing to work out I've explained above one way - open a PO savings account and pay using the debit card it deducts a day later and arrives a day after that. So takes a full week from paying in to Halifax to getting it back into your originating account - passing through PO savings. funkycredit said:

Oh yes there is, especially when I requested to open a PO savings a/c back in June, and still haven't heard a sausage from them!

I applied for a Reg Saver with the PO on 2 June, and guess what? Nothings happened! 
Well, people on this forum have warned the likes of myself of their shoddy customer service.
I only applied for the Reg Saver as it allows direct debits. Hardly any dosh will be kept in it, so it's no great deal to me. 
I will post an update, IF and WHEN they decide to contact me.

Hence why I still haven't replied to this thread above.

What do you mean "nothings happened"? Once you apply it's opened instantly - there and then. You then login and it shows up - only thing is there's a delay of a few days on first transactions (fraud / security). 

Not sure what you were waiting to happen? 

Ed-1

funkycredit said:

tel_ said:

funkycredit said:

Nothing to work out I've explained above one way - open a PO savings account and pay using the debit card it deducts a day later and arrives a day after that. So takes a full week from paying in to Halifax to getting it back into your originating account - passing through PO savings. funkycredit said:

Oh yes there is, especially when I requested to open a PO savings a/c back in June, and still haven't heard a sausage from them!

I applied for a Reg Saver with the PO on 2 June, and guess what? Nothings happened! 
Well, people on this forum have warned the likes of myself of their shoddy customer service.
I only applied for the Reg Saver as it allows direct debits. Hardly any dosh will be kept in it, so it's no great deal to me. 
I will post an update, IF and WHEN they decide to contact me.

Hence why I still haven't replied to this thread above.

What do you mean "nothings happened"? Once you apply it's opened instantly - there and then. You then login and it shows up - only thing is there's a delay of a few days on first transactions (fraud / security). 

Not sure what you were waiting to happen? 

It's not always opened instantly.
Also I wouldn't trust Post Office Savings for reliability for anything in excess of a couple of hundred pounds, let alone a monthly debit card payment. They always end up blocking the account(s).

hermante

colsten said:

hermante said:

The loophole is to use curve to deposit into ernie with a credit card on the last day of each month, wait for a month to enter the draw, then withdraw it to the halifax account on the 1st and pay off the credit card without having actually spent any of your own money and possibly winning a million pounds in the process.

Not sure what you are trying to achieve with a credit card as you need to use your Halifax debit card if you want the monthly reward. Although you are free to use Curve with your Halifax debit cards, there’s no need to do so. 

Just think about it for a minute and you will understand.