Halifax Reward changes from November 1 2022 2 August 2022 at 11:20AM in Budgeting & bank accounts 79 replies 8.5K views

ForumUser7

badger09 said:

RudolphHucker said:

Bridlington1 said:

The advantage is that you can pay £500 into a savings account by debit card and that will count as the £500 spent to get the £5.

Which savings accounts allow you to pay in using a debit card? My Nationwide account doesn't.

And Ecology BS

Hi @badger09, how do we pay into Ecology BS via debit card please? I couldn't find the information on their website. Thank you

Bridlington1

ForumUser7 said:

badger09 said:

RudolphHucker said:

Bridlington1 said:

The advantage is that you can pay £500 into a savings account by debit card and that will count as the £500 spent to get the £5.

Which savings accounts allow you to pay in using a debit card? My Nationwide account doesn't.

And Ecology BS

Hi @badger09, how do we pay into Ecology BS via debit card please? I couldn't find the information on their website. Thank you

I don't think you can pay into Ecology BS by debit card. As far as I know, you can only pay in by direct debit, cheque or by bank transfer.

Bridlington1

Bridlington1 said:

RudolphHucker said:

Bridlington1 said:

The advantage is that you can pay £500 into a savings account by debit card and that will count as the £500 spent to get the £5.

Which savings accounts allow you to pay in using a debit card? My Natiowide account doesn't.

YBS, NS&I and Cambridge BS all allow debit card deposits. There will be others but I can't think of any more off the top of my head.

Ghostcrawler said:

plus Skipton

I completely forgot about Skipton, it's been a few months since I made any deposits into it though.

Whilst I remember, some post office accounts also allow debit card deposits, though I've not used this one before.

Ghostcrawler

Bridlington1 said:

lington1 said:

RudolphHucker said:

Bridlington1 said:

The advantage is that you can pay £500 into a savings account by debit card and that will count as the £500 spent to get the £5.

Which savings accounts allow you to pay in using a debit card? My Natiowide account doesn't.

YBS, NS&I and Cambridge BS all allow debit card deposits. There will be others but I can't think of any more off the top of my head.

Ghostcrawler said:

plus Skipton

I completely forgot about Skipton, it's been a few months since I made any deposits into it though.

Whilst I remember, some post office accounts also allow debit card deposits, though I've not used this one before.

Even I don't use it much. Use NS&I for my TSB and Coop DC transactions for monthly rewards as I found NS&I taking less time for one transaction.

Didn't PO closed their saver accounts? Mine was closed earlier this year.

Bridlington1

Ghostcrawler said:

Bridlington1 said:

lington1 said:

RudolphHucker said:

Bridlington1 said:

The advantage is that you can pay £500 into a savings account by debit card and that will count as the £500 spent to get the £5.

Which savings accounts allow you to pay in using a debit card? My Natiowide account doesn't.

YBS, NS&I and Cambridge BS all allow debit card deposits. There will be others but I can't think of any more off the top of my head.

Ghostcrawler said:

plus Skipton

I completely forgot about Skipton, it's been a few months since I made any deposits into it though.

Whilst I remember, some post office accounts also allow debit card deposits, though I've not used this one before.

Even I don't use it much. Use NS&I for my TSB and Coop DC transactions for monthly rewards as I found NS&I taking less time for one transaction.

Didn't PO closed their saver accounts? Mine was closed earlier this year.

Post office's cash ISA still allow debit card deposits. They also allow direct debit deposits. I tend to use YBS or Cambridge for Halifax, then NS&I for TSB and Co-op, as well as making hundreds of £1.01 deposits from Natwest & RBS to fill up the regular savers with round ups earlier this year. I'm certainly going to have one heck of an NS&I statement come April.

ForumUser7

Bridlington1 said:

Ghostcrawler said:

Bridlington1 said:

lington1 said:

RudolphHucker said:

Bridlington1 said:

The advantage is that you can pay £500 into a savings account by debit card and that will count as the £500 spent to get the £5.

Which savings accounts allow you to pay in using a debit card? My Natiowide account doesn't.

YBS, NS&I and Cambridge BS all allow debit card deposits. There will be others but I can't think of any more off the top of my head.

Ghostcrawler said:

plus Skipton

I completely forgot about Skipton, it's been a few months since I made any deposits into it though.

Whilst I remember, some post office accounts also allow debit card deposits, though I've not used this one before.

Even I don't use it much. Use NS&I for my TSB and Coop DC transactions for monthly rewards as I found NS&I taking less time for one transaction.

Didn't PO closed their saver accounts? Mine was closed earlier this year.

Post office's cash ISA still allow debit card deposits. They also allow direct debit deposits. I tend to use YBS or Cambridge for Halifax, then NS&I for TSB and Co-op, as well as making hundreds of £1.01 deposits from Natwest & RBS to fill up the regular savers with round ups earlier this year. I'm certainly going to have one heck of an NS&I statement come April.

I did the exact same thing for NatWest/RBS. About 850 card payments between them of 1.01 to Monzo, Starling etc. Idk if it was really worth it, but for some reason I thought so at the time 😂

adindas

Bridlington1 said:

Ghostcrawler said:

Bridlington1 said:

lington1 said:

RudolphHucker said:

Bridlington1 said:

The advantage is that you can pay £500 into a savings account by debit card and that will count as the £500 spent to get the £5.

Which savings accounts allow you to pay in using a debit card? My Natiowide account doesn't.

YBS, NS&I and Cambridge BS all allow debit card deposits. There will be others but I can't think of any more off the top of my head.

Ghostcrawler said:

plus Skipton

I completely forgot about Skipton, it's been a few months since I made any deposits into it though.

Whilst I remember, some post office accounts also allow debit card deposits, though I've not used this one before.

Even I don't use it much. Use NS&I for my TSB and Coop DC transactions for monthly rewards as I found NS&I taking less time for one transaction.

Didn't PO closed their saver accounts? Mine was closed earlier this year.

Post office's cash ISA still allow debit card deposits. They also allow direct debit deposits. I tend to use YBS or Cambridge for Halifax, then NS&I for TSB and Co-op, as well as making hundreds of £1.01 deposits from Natwest & RBS to fill up the regular savers with round ups earlier this year. I'm certainly going to have one heck of an NS&I statement come April.

I think Post Office will only do DD for their ISA saving, not instant access anymore. I have more than a dozen of Post Office instant access for DDs purposes. All of them have stopped working now.

Cambridge  BS "your regular saver" will only allow one withdrawal per Calender Month. So will need to plan carefully with withdrawal.

WillPS

soulsaver said:

WillPS said:

soulsaver said:

WillPS said:

soulsaver said:

PRAISETHESUN said:

k_man said:

soulsaver said:

AFAICS you can only get 5 Reward Extras between 2 peeps Is that right - 2 each plus a joint?

An individual can have 3 x Reward accounts (so 3 x Reward Extras), so it would be at least 6. Not sure if you can also have an additional shared/joint one.

https://www.halifax.co.uk/assets/pdf/bankaccounts/pdf/bank-account-guide.pdf

As per page 38, you are allowed "up to 3 in either your sole name or in joint names". To maximise the rewards as a couple, it would be best to each have 3 accounts in sole names (for 6 total) rather than tying up any of them as joint accounts.

Yes I feared as much: Ah well here's a PITA: OH has 2 and (my) joint. As the joint already exists, she can't get a 3rd solo. Shame. I know what you're gonna say - but I can't

Why not change the joint account in to a standard 'Current Account'? That would then free you both up to open a sole Reward Account.

See bold.

  why not? 

Too many in my name already.

As I understand it you each have 2 sole reward accounts + 1 joint reward account.

The joint reward account blocks either of you from opening a 3rd sole reward account.

If you change it to a (vanilla) Current Account you would both then be able to open a 3rd reward account.

There is no limit to the number of (vanilla) Current Accounts or total current accounts you can hold with Halifax, other than whatever they'll allow you to open. 

Bridlington1

ForumUser7 said:

Bridlington1 said:

Ghostcrawler said:

Bridlington1 said:

lington1 said:

RudolphHucker said:

Bridlington1 said:

The advantage is that you can pay £500 into a savings account by debit card and that will count as the £500 spent to get the £5.

Which savings accounts allow you to pay in using a debit card? My Natiowide account doesn't.

YBS, NS&I and Cambridge BS all allow debit card deposits. There will be others but I can't think of any more off the top of my head.

Ghostcrawler said:

plus Skipton

I completely forgot about Skipton, it's been a few months since I made any deposits into it though.

Whilst I remember, some post office accounts also allow debit card deposits, though I've not used this one before.

Even I don't use it much. Use NS&I for my TSB and Coop DC transactions for monthly rewards as I found NS&I taking less time for one transaction.

Didn't PO closed their saver accounts? Mine was closed earlier this year.

Post office's cash ISA still allow debit card deposits. They also allow direct debit deposits. I tend to use YBS or Cambridge for Halifax, then NS&I for TSB and Co-op, as well as making hundreds of £1.01 deposits from Natwest & RBS to fill up the regular savers with round ups earlier this year. I'm certainly going to have one heck of an NS&I statement come April.

I did the exact same thing for NatWest/RBS. About 850 card payments between them of 1.01 to Monzo, Starling etc. Idk if it was really worth it, but for some reason I thought so at the time 😂

Last time I calculated (30/7/22), 430 £1.01 debit card deposits yielded about £7 (or 1.6p per transaction). in extra interest, though the interest rate was only 3.25% then. Scaling that up to the current interest rate of 5%, it works out to about £10.77 ish in extra interest (or roughly 2.5p per transaction).

phillw

Bridlington1 said:

ForumUser7 said:
I did the exact same thing for NatWest/RBS. About 850 card payments between them of 1.01 to Monzo, Starling etc. Idk if it was really worth it, but for some reason I thought so at the time 😂

Last time I calculated (30/7/22), 430 £1.01 debit card deposits yielded about £7 (or 1.6p per transaction). in extra interest, though the interest rate was only 3.25% then. Scaling that up to the current interest rate of 5%, it works out to about £10.77 ish in extra interest (or roughly 2.5p per transaction).

Doesn't that work out at less than minimum wage?