Halifax £500 Spent criteria

ForumUser7

AmityNeon said:

Bridlington1 said:

Halifax 1->Halifax 2 would be classed as an internal transfer surely so wouldn't count.

LBG accounts do not exclude internal transfers for fulfilling the deposit requirements.

I had a skim through the Halifax rewards extras ts and cs and I couldn't see anything stating they ruled out internal transfers - good news - it'll be a bit quicker to do.

Descrabled

I might add that the £5 reward from Halifax also counts towards the £1500 requirement if that helps.

I usually move the £1500 through each BOS account, through each Halifax account, and then through each Club Lloyds on the first working day. Not sure why I still do this for BOS as thiese accounts sit at NIL balance all month.

ForumUser7

Descrabled said:

I might add that the £5 reward from Halifax also counts towards the £1500 requirement if that helps.

I usually move the £1500 through each BOS account, through each Halifax account, and then through each Club Lloyds on the first working day. Not sure why I still do this for BOS as thiese accounts sit at NIL balance all month.

@descrabled how come you do it on the first working day rather than just the first day?

Descrabled

ForumUser7 said:

Descrabled said:

I might add that the £5 reward from Halifax also counts towards the £1500 requirement if that helps.

I usually move the £1500 through each BOS account, through each Halifax account, and then through each Club Lloyds on the first working day. Not sure why I still do this for BOS as thiese accounts sit at NIL balance all month.

@descrabled how come you do it on the first working day rather than just the first day?

I receive my company pension, into a non LBG current account, on 1st of month thus in most months this provides the starting point for the cycling through all LBG accounts ending in club Lloyd joint account that pays 4 Lloyd regular savers and two utility direct debits paid on 1st working day.

LBG have this peculiar system where you can pay and receive money on a weekend or bank holiday but it is dated for the later 1st working day. So on 30 December my pension arrived and I moved this to Virgin Money and thence on New Year's day paid 2 Coventry FHSs. This gains a few pence extra interest me thinks.

On 3rd January did the payments through Ms Descrabled and my BOS, Halifax, and Lloyds before ending in our joint Club Lloyds account. All made possible by arranged overdrafts.

ForumUser7

Descrabled said:

ForumUser7 said:

Descrabled said:

I might add that the £5 reward from Halifax also counts towards the £1500 requirement if that helps.

I usually move the £1500 through each BOS account, through each Halifax account, and then through each Club Lloyds on the first working day. Not sure why I still do this for BOS as thiese accounts sit at NIL balance all month.

@descrabled how come you do it on the first working day rather than just the first day?

I receive my company pension, into a non LBG current account, on 1st of month thus in most months this provides the starting point for the cycling through all LBG accounts ending in club Lloyd joint account that pays 4 Lloyd regular savers and two utility direct debits paid on 1st working day.

LBG have this peculiar system where you can pay and receive money on a weekend or bank holiday but it is dated for the later 1st working day. So on 30 December my pension arrived and I moved this to Virgin Money and thence on New Year's day paid 2 Coventry FHSs. This gains a few pence extra interest me thinks.

On 3rd January did the payments through Ms Descrabled and my BOS, Halifax, and Lloyds before ending in our joint Club Lloyds account. All made possible by arranged overdrafts.

Ah right - I remember checking with LBG because this working day thing confused me earlier this month and they mentioned interest is calculated based on the balance as opposed to statement dates.

Theoretically, if I was just to do the shifting around on the 1st of each month (regardless of weekend, weekday, bank holiday etc.), would that still count and make me eligible for the various rewards please?

Bridlington1

ForumUser7 said:

Descrabled said:

ForumUser7 said:

Descrabled said:

I might add that the £5 reward from Halifax also counts towards the £1500 requirement if that helps.

I usually move the £1500 through each BOS account, through each Halifax account, and then through each Club Lloyds on the first working day. Not sure why I still do this for BOS as thiese accounts sit at NIL balance all month.

@descrabled how come you do it on the first working day rather than just the first day?

I receive my company pension, into a non LBG current account, on 1st of month thus in most months this provides the starting point for the cycling through all LBG accounts ending in club Lloyd joint account that pays 4 Lloyd regular savers and two utility direct debits paid on 1st working day.

LBG have this peculiar system where you can pay and receive money on a weekend or bank holiday but it is dated for the later 1st working day. So on 30 December my pension arrived and I moved this to Virgin Money and thence on New Year's day paid 2 Coventry FHSs. This gains a few pence extra interest me thinks.

On 3rd January did the payments through Ms Descrabled and my BOS, Halifax, and Lloyds before ending in our joint Club Lloyds account. All made possible by arranged overdrafts.

Ah right - I remember checking with LBG because this working day thing confused me earlier this month and they mentioned interest is calculated based on the balance as opposed to statement dates.

Theoretically, if I was just to do the shifting around on the 1st of each month (regardless of weekend, weekday, bank holiday etc.), would that still count and make me eligible for the various rewards please?

I do all my shifting on 1st of each month and have never had any issues. 

phillw

ForumUser7 said:
Theoretically, if I was just to do the shifting around on the 1st of each month (regardless of weekend, weekday, bank holiday etc.), would that still count and make me eligible for the various rewards please?

Halifax and Lloyds work on calendar months.

Santander base it on the date the account was opened, so you need to be careful about when you open the account. If it falls around the time the payments are made, then you could end up with two payments in one month and none the next.

ForumUser7

phillw said:

ForumUser7 said:
Theoretically, if I was just to do the shifting around on the 1st of each month (regardless of weekend, weekday, bank holiday etc.), would that still count and make me eligible for the various rewards please?

Halifax and Lloyds work on calendar months.

Santander base it on the date the account was opened, so you need to be careful about when you open the account. If it falls around the time the payments are made, then you could end up with two payments in one month and none the next.

Thank you - I remember waiting till the 1st of the month to open my Santander regular saver a while back so I didn't get stuck with the anniversary month thing.

So say I was to upgrade Halifax and Lloyds (not bothering with Santander as they charge a non-avoidable fee, and I don't have any bills etc. just now) on the 12th of the month, then do the shifting once they'd confirmed the upgrade was active, and then on the 1st of the next month do the shifting again, and then repeat on the first of each month that'd be fine?

Bridlington1

ForumUser7 said:

phillw said:

ForumUser7 said:
Theoretically, if I was just to do the shifting around on the 1st of each month (regardless of weekend, weekday, bank holiday etc.), would that still count and make me eligible for the various rewards please?

Halifax and Lloyds work on calendar months.

Santander base it on the date the account was opened, so you need to be careful about when you open the account. If it falls around the time the payments are made, then you could end up with two payments in one month and none the next.

Thank you - I remember waiting till the 1st of the month to open my Santander regular saver a while back so I didn't get stuck with the anniversary month thing.

So say I was to upgrade Halifax and Lloyds (not bothering with Santander as they charge a non-avoidable fee, and I don't have any bills etc. just now) on the 12th of the month, then do the shifting once they'd confirmed the upgrade was active, and then on the 1st of the next month do the shifting again, and then repeat on the first of each month that'd be fine?

That'd be fine. Natwest, RBS, Barclays and Co-op are also calendar month as well.