Halifax Reward current account

P933alilli

I'm thinking about switching my Santander 123 account to the Halifax reward account! Has anyone got any view on the Halifax account? I wondered if the £1500 required for the £5 reward can be transferred in from another Halifax account or has it to be from elsewhere? And what is the switching service like?

colsten

There's a huge long thread on this Forum about the Halifax Reward.

Scrounger

You seem to be tempted by cashback offers.

Assuming your Santander account has at least 2 direct debits, why don't you switch to a new Nationwide Flex Direct account and collect a free £125 (plus, maybe 2% interest for 12-months).

Simultaneously, open up a new Halifax Reward account for the free monthly fivers (I don't think they have a switching offer running atm).

Over time manually switch the dd's over from Nationwide to Halifax if it suits.

To answer your question, the £1500 monthly payment can come from anywhere (including another Halifax account). 

Scrounger

 

NBLondon

The switching was fine in 2015 when I went there from Barclays.

Don't forget the requirement to spend £500 on debit card or hold a £5K balance.  if you have the latter - does it work out better to leave it in Santander 123?

Rich2808

If you go regularly to Vue Cinemas I can recommend it.

If I keep my monthly balance at over £5,000 (and pay in £1500) I get a free Vue ticket once a month which can be used for VIP seats - so is worth up to £10 a month (and no tax to pay). And you get half price popcorn saving you a further £3.30 potentially.

So its worth over £13 a month to me!

ZeroSum

The best thing to do for Halifax rewards is just open the account (don't switch as you're throwing away existing rewards)
then do a £500 debit card payment to another savings account. Free £5's for clicking a few buttons once a month.

Scrounger

ZeroSum said:

The best thing to do for Halifax rewards is just open the account (don't switch as you're throwing away existing rewards)
then do a £500 debit card payment to another savings account. Free £5's for clicking a few buttons once a month.

And then open as many accounts as you can.... 

Scrounger

Alex9384

Scrounger, are you sure the £1500 can be paid from another Halifax account? With most banks it doesn't work like that.

Scrounger

Alex9384 said:

With most banks it doesn't work like that.

Oh, I see. 

Scrounger

surreysaver

Alex9384 said:

Scrounger, are you sure the £1500 can be paid from another Halifax account? With most banks it doesn't work like that.

Works for me

EarthBoy

Alex9384 said:

Scrounger, are you sure the £1500 can be paid from another Halifax account? With most banks it doesn't work like that.

You mean some, not most.  Unless the terms and conditions say otherwise, then the money can come from anywhere, and off the the top of my head Nationwide (and maybe HSBC?) are the only ones that I know of which rule out internal transfers.