Halifax £100 switch incentive

Shedman

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. 

Why NSI Premium Bonds...why not the NSI Direct Saver.  Put £501 in, take out £500 a couple of days later so you leave a quid in it to keep it open.  I think it's easier and probably quicker than getting the money in and out of PBs.  Although not sure how easy it is to open any NSI account these days if you're not already registered with them?

veryintrigued

Next question will be.

'How many Ultimate Reward Accounts can I have?'

colsten

Shedman said:

Why NSI Premium Bonds...why not the NSI Direct Saver.  Put £501 in, take out £500 a couple of days later 

Earliest you can take it out is 7 days later. 

RN61

Anyone know if Halifax actually *check* to see if you've been paid the Reward previously? 

PRAISETHESUN

I usually take a punt on most switch incentives to see if they'll pay out even if I'm not eligible - NatWest/RBS have paid out for me in the past when they shouldn't have. The last time I tried this with Halifax though I didn't get an incentive payment because I didn't meet the offer terms, so I'd say that they do do some sort of verification before paying out.

Uglymug

I used to have 2 Reward Accounts.
In October last year I switched one to HSBC for their incentive.
I now have one Reward Account.
Can I now switch my M&S account into a New Reward Account and get the £100 incentive.
I've gone through the Halifax T&Cs and can't find anything saying how many Reward Accounts you are allowed to have.
Is it OK for me to again have 2 Reward Accounts?

soulsaver

Uglymug said:

I used to have 2 Reward Accounts.
In October last year I switched one to HSBC for their incentive.
I now have one Reward Account.
Can I now switch my M&S account into a New Reward Account and get the £100 incentive.
I've gone through the Halifax T&Cs and can't find anything saying how many Reward Accounts you are allowed to have.
Is it OK for me to again have 2 Reward Accounts?

If you can't see it excluded, you could try. It may not allow you to complete the application if not allowed. Or it may only allow an Ultimate.

Failing that, they'll either accept or reject it; unlikely to cause any further punitive action. 

ctdctd

Uglymug said:

I used to have 2 Reward Accounts.
In October last year I switched one to HSBC for their incentive.
I now have one Reward Account.
Can I now switch my M&S account into a New Reward Account and get the £100 incentive.
I've gone through the Halifax T&Cs and can't find anything saying how many Reward Accounts you are allowed to have.
Is it OK for me to again have 2 Reward Accounts?

The T&C's say you can only have one sole Reward account plus one Joint.

PRAISETHESUN

Uglymug said:

I used to have 2 Reward Accounts.
In October last year I switched one to HSBC for their incentive.
I now have one Reward Account.
Can I now switch my M&S account into a New Reward Account and get the £100 incentive.
I've gone through the Halifax T&Cs and can't find anything saying how many Reward Accounts you are allowed to have.
Is it OK for me to again have 2 Reward Accounts?

The terms are a max of 2 accounts - 1 sole and 1 joint. That said, I know of a few people on here who have multiple reward accounts for various reasons so it might well be possible to have more than 1 even if technically not allowed.

https://www.halifax.co.uk/assets/pdf/bankaccounts/pdf/bank-account-guide.pdf (pg. 26)

dggar

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

Looking at the T&Cs of this offer it says:-

You are not eligible for the offer if:

 Since April 2020 you’ve received a switching offer for switching to a Reward Current Account or Ultimate Reward Current Account.

  Doesn't this exclude RetSol  if a Reward account was opened and a switching offer was received. (assuming a switching offer was received:  It's not clear from ReSol's post as to whether this was the case)