Halifax £100 switching bonus is back, but only to Ultimate account

pbartlett

The Ultimate account costs  £17 / month. You must switch by 3 August. Not available to existing customers.

You also have to pay in £1,500 and stay in credit during the month and either spend £500 on a debit card or keep a balance of £5,000.

I guess if you want the benefits of the Ultimate account this may be a good way to open one.

PRAISETHESUN

Can you link to the offer? Or is this an email offer they've sent to you directly? I can't seem to see it on their website

RG2015

PRAISETHESUN said:

Can you link to the offer? Or is this an email offer they've sent to you directly? I can't seem to see it on their website

It's in the media. See the link below.

Halifax Offer

kaMelo

pbartlett said:

The Ultimate account costs  £17 / month. You must switch by 3 August. Not available to existing customers.

You also have to pay in £1,500 and stay in credit during the month and either spend £500 on a debit card or keep a balance of £5,000.

I guess if you want the benefits of the Ultimate account this may be a good way to open one.

The terms do not exclude existing customers from receiving the switching bonus, rather you cannot switch into an existing account nor received a switching bonus since April 2020. You qualify for the bonus as an existing customer as long as you open a brand new Ultimate Rewards account and switch a non-Halifax account into it via CASS.

The £1500/month and spend £500/keep £5000 in the account are only relevant for the ongoing rewards, not a requirement for the switching bonus.

Link,
https://www.halifax.co.uk/bankaccounts/current-accounts/ultimate-reward-current-account.html

jbrassy

What's to stop you switching to the Ultimate account, then once you've got the £100, downgrading to the Reward account (which is free if you pay in more than £1500 a month)?

PRAISETHESUN

£100 Switching Terms and Conditions:

To qualify for the £100 switching offer (“the offer”) you must open a new Ultimate Reward Current Account and use the ‘Current Account Switch Service’ to switch into it from a bank account held with another bank. The following conditions apply:

• Apply for a new Ultimate Reward Current Account (£17 monthly maintaining the account fee applies) (‘Qualifying Account’). You cannot change your existing Halifax Current Account or Reward Current Account to an Ultimate Reward Current Account
• Use the ‘Current Account Switch Service’ to transfer all the active credits and debits from the bank account that you hold with another bank to the Qualifying Account which will close your old account with the other bank
• Open your Qualifying Account between 07/07/21 and 03/08/21 and start the switch service by 03/08/21

You are not eligible for the offer if:

• You open and switch to any account other than a new Ultimate Reward Current Account
• You switch to any existing Halifax bank account
• Since April 2020 you’ve received a switching offer for switching to a Reward Current Account or Ultimate Reward Current Account
• You are switching to a joint account and one of the parties to the joint account has already received a switching incentive since April 2020
• The bank you are switching from does not participate in the Current Account Switch Service. To find out more visit www.currentaccountswitch.co.uk

1. The offer applies to applications received in branch, online or by phone from 07/07/21 until 03/08/21. The offer is subject to change and can be withdrawn without notice at any time
2. The offer does not automatically guarantee an arranged overdraft and any application for an arranged overdraft facility will be subject to status. If your account has an arranged overdraft you will not pay any daily arranged overdraft interest for 6 months provided you stay within your arranged overdraft limit and do not increase or otherwise alter the arranged overdraft limit agreed
3. After 6 months, or if you change your account, you will be charged daily arranged overdraft interest applicable to the account you hold if you use your arranged overdraft. Please see the Bank accounts and switching to us leaflet for full details on arranged overdraft interest. You will have been given this when you opened your account, but if you would like another one, please ask in branch or look at www.halifax.co.uk/bankaccounts/current-accounts.html
4. Only one offer is available per customer. Joint accounts will only be eligible for one payment
5. The offer will be paid directly into your account within 3 working days of your switch completing and will appear as a cash credit. The offer is not available to employees of Lloyds Banking Group, or if the employee is named on any bank account held in joint names

Terms for future reference from: https://www.halifax.co.uk/bankaccounts/current-accounts/ultimate-reward-current-account.html

PRAISETHESUN

jbrassy said:

What's to stop you switching to the Ultimate account, then once you've got the £100, downgrading to the Reward account (which is free if you pay in more than £1500 a month)?

There is nothing stopping you doing this - plenty of people did this during the last Halifax offer

gozaimasu

Does "since" April 2020 include receiving an incentive in the month of April? The wording isn't clear to me. "Since April" means after April has finished...or does it?

PRAISETHESUN

gozaimasu said:

Does "since" April 2020 include receiving an incentive in the month of April? The wording isn't clear to me. "Since April" means after April has finished...or does it?

I'm not actually sure about this - usually they space out their offers such that it isn't this close on the dates. I would think that the safest bet would be to assume that any payments received on or after 01Apr2020 would make you ineligible for the offer.

phillw

gozaimasu said:

Does "since" April 2020 include receiving an incentive in the month of April? The wording isn't clear to me. "Since April" means after April has finished...or does it?

When do you think I moved in "I have lived here since April 2020"?

pbartlett

"Since" normally includes eg

'it has been raining since 6am' means rain started at 6am.

'I have worked here since April' means I started in April