Halifax £100 switch incentive

PRAISETHESUN

https://www.halifax.co.uk/bankaccounts/switch-to-halifax.html

Get £100 for switching your current account

Open a new Halifax Ultimate Reward Current Account or Reward Current account and switch and close your old account using the Current Account Switch Service. You’ll get £100 paid into your account within 3 working days of your switch completing. Offer ends 4th May 2021. T&Cs apply.

Terms:

You’re eligible for the £100 offer if you do the following:

1. Start your switch by 4th May 2021
2. Use the Current Account Switch Service to close your old account held elsewhere
3. Switch into one of the following accounts:

• A new Halifax Ultimate Reward Current Account (£17 monthly fee)
• A new Halifax Reward Current Account (no fee or £3 fee each month if you pay in less than £1,500)

You won’t qualify for the £100 offer if:

• You are switching to a Halifax Current Account, Basic Account, Student Account, Youth Account
• You are switching into any existing current account
• You’ve received cashback for switching to us since April 2020. We’re sorry but you won’t get it again

RetSol

First, the bad news.  I opened a Reward account a few months ago.  The good news: could this presage a new wave of switching incentives? 

PRAISETHESUN

RetSol said:

First, the bad news.  I opened a Reward account a few months ago.  The good news: could this presage a new wave of switching incentives? 

Nothing stopping you downgrading your existing Reward account and opening a new one

RetSol

Nothing stopping you downgrading your existing Reward account and opening a new one 

A-ha, @PRAISETHESUN! 

TheEffect

Just looked at my credit report to see when I had a Halifax account last, looks like August 2020, so assuming there was a switch offer on at the time. 

That rules me out...

Rich2808

TheEffect said:

Just looked at my credit report to see when I had a Halifax account last, looks like August 2020, so assuming there was a switch offer on at the time. 

That rules me out...

Only says you can't get the £100 if you switched to Halifax and got cash back since April 2020. If you had a Halifax account open in August 2020 (but since closed) - but got cashback from switching in before April 2020 seems you are eligible for the offer?

A bit tempted - as their reward account gives me a free vue cinema ticket per month which is worth £7+. That is an effective rate on £5,000 of at least 1.8% a year.

Branagorn

I’ve been trying to do a bit of searching on how to guarantee to meet the £500 debit card spend every month. So far all I’ve found is the suggestion of paying into NS&I premium bonds. Which is something I don’t currently have. 

Are the any other ways people can think of that I could guarantee to meet this criteria?  I use a credit card, but don’t always spend £500, so paying this off is not a sure thing. 

I have a couple of current accounts I could utilise, NatWest/Starling and a PayPal account. But as far as I can make out, I can only bank transfer money around to myself, not a debit card transaction. 

Aidanmc

Branagorn said:

I’ve been trying to do a bit of searching on how to guarantee to meet the £500 debit card spend every month. So far all I’ve found is the suggestion of paying into NS&I premium bonds. Which is something I don’t currently have. 

Are the any other ways people can think of that I could guarantee to meet this criteria?  I use a credit card, but don’t always spend £500, so paying this off is not a sure thing. 

I have a couple of current accounts I could utilise, NatWest/Starling and a PayPal account. But as far as I can make out, I can only bank transfer money around to myself, not a debit card transaction. 

You may find ideas if you search through this thread

https://forums.moneysavingexpert.com/discussion/6113322/halifax-reward-account-changing-to-3-charge-with-lifestyle-rewards/p1

Aidanmc

PRAISETHESUN said:

RetSol said:

First, the bad news.  I opened a Reward account a few months ago.  The good news: could this presage a new wave of switching incentives? 

Nothing stopping you downgrading your existing Reward account and opening a new one

Do you reckon this will work? How to downgrade existing one?

RetSol

Are the any other ways people can think of that I could guarantee to meet this criteria?  I use a credit card, but don’t always spend £500, so paying this off is not a sure thing. 

Hargreaves Landsdown Active Savings accepts deposits by debit card.  

PRAISETHESUN

Aidanmc said:

PRAISETHESUN said:

RetSol said:

First, the bad news.  I opened a Reward account a few months ago.  The good news: could this presage a new wave of switching incentives? 

Nothing stopping you downgrading your existing Reward account and opening a new one

Do you reckon this will work? How to downgrade existing one?

This worked for the last Lloyds incentive, and I'm fairly certain it also worked for the last Halifax incentive. If they didn't want someone to do this then they would explicitly say so.

You can do this in your online banking. In the big blue side bar there is an option for "Upgrade my Account". Click this and then select "I'd like to change my account type". Go through the process and select their standard current account