New £175 bonus for switching to Halifax Reward (29 Nov 2022)

Calidad

goldygash said:

Calidad said:

I have an active credit card account with Halifax, and also a long empty web-saver, but no current account. Am I considered an existing customer for the purposes of a switch? 

Their guidance is slightly confusing. 

Same here, a couple of credit cards with them so wondering the same. Have you applied yet?

As flaneurs_lobster pointed out, being an existing customer or not doesn’t appear to matter. The condition is that you haven’t received a switch incentive since Apr 2020, so yes, I’ve applied.

goldygash

Calidad said:

goldygash said:

Calidad said:

I have an active credit card account with Halifax, and also a long empty web-saver, but no current account. Am I considered an existing customer for the purposes of a switch? 

Their guidance is slightly confusing. 

Same here, a couple of credit cards with them so wondering the same. Have you applied yet?

As flaneurs_lobster pointed out, being an existing customer or not doesn’t appear to matter. The condition is that you haven’t received a switch incentive since Apr 2020, so yes, I’ve applied.

It was more around did you select new customer or existing customer on the application?

flaneurs_lobster

goldygash said:

Calidad said:

goldygash said:

Calidad said:

I have an active credit card account with Halifax, and also a long empty web-saver, but no current account. Am I considered an existing customer for the purposes of a switch? 

Their guidance is slightly confusing. 

Same here, a couple of credit cards with them so wondering the same. Have you applied yet?

As flaneurs_lobster pointed out, being an existing customer or not doesn’t appear to matter. The condition is that you haven’t received a switch incentive since Apr 2020, so yes, I’ve applied.

It was more around did you select new customer or existing customer on the application?

I guess if they have your details already on file (and they are current) it may expedite the application process to tick "existing". 

Peony2016

Received my £175 switch incentive today. Switch isn’t due to complete until Friday so very pleased!

comeocome

flaneurs_lobster said:

comeocome said:

flaneurs_lobster said:

StevenGude said:

I want to set a new account up with another bank to br able to switch to Halifax and take advantage of this
How long do you usually have to have account open before you can switch?

I'd give it a couple of days (and transfer in/out a couple of quid) just to make sure the new account is solid. In the case of this Halifax offer there is no requirement for direct debits to be set up and switched so it should be good to go.

 Just started switch to Halifax with a Metro account set up on 16/11. I try to have a spare doner account ready to be sacrificed when a new offer appears. The next one will be a second current account I've just created at Nationwide or possibly the Monzo account I've just opened having swapped the last one a month ago.

 Spreadsheets are your friend.

Are you worried that your credit score will nosedive due to opening so many accounts at once? 

(Halifax, metro, nationwide, monzo?) 

... and RBS, first direct, Starling, Lloyd's (don't think Revolut or Tesco+ count). 

This is what I do for fun. 

Fortunately I'm in the position of not needing credit (other than a mobile contract) so my credit score is irrelevant. 

Lucky you. I am new to the country, and recently been opening a bit too many accounts for the switching offers (NatWest, Halifax). Got rejected by Monzo and Metro bank to open new accounts, so I guess I have to stay quiet for at least 2 months to wait for the score to recover! 

That said, I have heard that Monzo is now getting tricky with new international arrivals. Maybe Metro is the same? Both are just not doing biz with internationals without a credit score anyway?

dreamypuma

Having missed the boat on Nationwide offer, I'm now looking at a temporary switch to this account: Is qualifying for the "Reward" aspect of this account (Spend £500 / Keep £5K in the account) conditional to receiving the £175 switch reward or just the monthly rewards?

Happy to stay in credit and pay in a minimum of £1500 per month, but the neither the £500 / £5000 for £60pa or the other rewards seem appealing to me, and happy not to qualify for these in exchange for normal day to day banking.

Finally and unusually there seems to be no mention of needing active direct debits to qualify for the £175? Is this these not required?

flaneurs_lobster

I applied for, opened and started a switch to this account 8 days ago. Checked today and the bonus has been paid. The only credit to this account was £1 just to check it was set up OK. Terms make no mention of DDs needing to be present but the account I've swapped over had 2 set up in any case.

Don't think that the bonus is contingent on meeting any reward criteria.

Like @dreamypuma I've little interest(!) in the rewards but I'll do the necessary for a month or so for a fiver. Want to see if using the debit card to fund a Revolut account counts as spending £500. 

After this I'll probably downgrade the account to bog standard (if that's allowed) and keep it in the doner pile.

AmityNeon

flaneurs_lobster said:

Like @dreamypuma I've little interest(!) in the rewards but I'll do the necessary for a month or so for a fiver. Want to see if using the debit card to fund a Revolut account counts as spending £500. 

It does count but be prepared for payment blocks and verification calls because Revolut is a hotbed for fraud.

dreamypuma

flaneurs_lobster said:

I applied for, opened and started a switch to this account 8 days ago. Checked today and the bonus has been paid. The only credit to this account was £1 just to check it was set up OK. Terms make no mention of DDs needing to be present but the account I've swapped over had 2 set up in any case.

Don't think that the bonus is contingent on meeting any reward criteria.

Like @dreamypuma I've little interest(!) in the rewards but I'll do the necessary for a month or so for a fiver. Want to see if using the debit card to fund a Revolut account counts as spending £500. 

After this I'll probably downgrade the account to bog standard (if that's allowed) and keep it in the doner pile.

Thanks that gives me some confidence. Will paying my Virgin Credit card count towards the £500, or does it need to be traditional swipes and taps of the card and online goods? If so I think I can make the £500 criteria.

I also need to pay my self assessment in January. 

comeocome

By the way I opened the account online on 29th Nov, account approved almost the same day. Yesterday 6th I received the login in details, and when I logged in, the account already has 175 GBP! Very efficient Halifax! 

My understanding is we only have to transfer 1500 GBP into the account each month and can waive the 3 GBP charge in month. Fine, but I will just spend it and transfer 1500 GBP away afterwards. (It didn’t say you have to maintain 1500 GBP in it at all times.) 

Not interested in the 5GBP rewards by maintaining 5000 GBP in it. That’s 0.1% interest…