new halifax switch offer (£175) from 14 march 2023

SVts

TheElectricCow said:

bumblebee200 said:

Bit of a newbie to switching so apologies if this is a dumb q! Have set up a dummy account and requested a switch which is progressing. Plan to switch the Halifax account once the £175 is credited so I don't have to meet the ongoing reward requirements - I can't see anything in the T's and C's that would prevent this or am i missing something?

Yep, once you've got the money whatever you do with the account after that is your business - In fact I've got a switch completing today on a Lloyds account with a monthly fee but they've already paid the switch bonus into that account, so now I've put the switch instruction in to have that Lloyds one transferred to Halifax to pick up this extra £175 despite the other only being open a week or two.

If for any reason you don't manage to switch away from the new Halifax straight away, you should also be able to just downgrade the account back to a basic one without any fees/rewards/requirements.

I've opened a Halifax Reward Current Account this morning but selected no rewards as they were optional. This still qualify for the £175?

notquiteskint

Existing customer, just opened new account for the purpose of the bonus, switching a starling account that i never really use. 
If i decide to run this account is a £500 per month transfer to soneone else classed as a spend on your debit card to get the £5 monthly reward?

also is the account month from 1st to end of month or is from the date of opening to same date following month?

cheers

TheElectricCow

SVts said:

TheElectricCow said:

bumblebee200 said:

Bit of a newbie to switching so apologies if this is a dumb q! Have set up a dummy account and requested a switch which is progressing. Plan to switch the Halifax account once the £175 is credited so I don't have to meet the ongoing reward requirements - I can't see anything in the T's and C's that would prevent this or am i missing something?

Yep, once you've got the money whatever you do with the account after that is your business - In fact I've got a switch completing today on a Lloyds account with a monthly fee but they've already paid the switch bonus into that account, so now I've put the switch instruction in to have that Lloyds one transferred to Halifax to pick up this extra £175 despite the other only being open a week or two.

If for any reason you don't manage to switch away from the new Halifax straight away, you should also be able to just downgrade the account back to a basic one without any fees/rewards/requirements.

I've opened a Halifax Reward Current Account this morning but selected no rewards as they were optional. This still qualify for the £175?

I don’t see any reason that should be an issue, Halifax only appear to stipulate that you have to switch to a rewards account but don’t seem to place any further requirements on how the account must be used or set up.

As long as it is the correct account, done using the current account switch service, and the switch starts within the specified deadline of 03/04/23 you shouldn’t have any problems qualifying for the money.

notquiteskint

SVts said:

TheElectricCow said:

bumblebee200 said:

Bit of a newbie to switching so apologies if this is a dumb q! Have set up a dummy account and requested a switch which is progressing. Plan to switch the Halifax account once the £175 is credited so I don't have to meet the ongoing reward requirements - I can't see anything in the T's and C's that would prevent this or am i missing something?

Yep, once you've got the money whatever you do with the account after that is your business - In fact I've got a switch completing today on a Lloyds account with a monthly fee but they've already paid the switch bonus into that account, so now I've put the switch instruction in to have that Lloyds one transferred to Halifax to pick up this extra £175 despite the other only being open a week or two.

If for any reason you don't manage to switch away from the new Halifax straight away, you should also be able to just downgrade the account back to a basic one without any fees/rewards/requirements.

I've opened a Halifax Reward Current Account this morning but selected no rewards as they were optional. This still qualify for the £175?

The way i read it YES still qualifies, i also selected not now

danny13579

SVts said:

I've opened a Halifax Reward Current Account this morning but selected no rewards as they were optional. This still qualify for the £175?

Yes. 

grumbler

danny13579 said:

notquiteskint said:

If i decide to run this account is a £500 per month transfer to soneone else classed as a spend on your debit card to get the £5 monthly reward?

Yes, or to yourself.

Transfer classed a a debit card spend?! Really? No chance.

Yes, some savings accounts allow debit card deposits, but it's not a transfer.

notquiteskint

danny13579 said:

notquiteskint said:

If i decide to run this account is a £500 per month transfer to soneone else classed as a spend on your debit card to get the £5 monthly reward?

Yes, or to yourself.

So i could login to online banking send £1500 from my current halifax account to my reward account this would cover the account fee £3 criteria and also the £500 spend criteria to qualify for the £5 reward? then send the cash back to my normal current account the same day.

AmityNeon

notquiteskint said:

danny13579 said:

notquiteskint said:

If i decide to run this account is a £500 per month transfer to soneone else classed as a spend on your debit card to get the £5 monthly reward?

Yes, or to yourself.

So i could login to online banking send £1500 from my current halifax account to my reward account this would cover the account fee £3 criteria and also the £500 spend criteria to qualify for the £5 reward? then send the cash back to my normal current account the same day.

No, the £500 debit card spend for the £5 cashback Reward requires using the Reward debit card to spend £500.

Fingerbobs

danny13579 said:

notquiteskint said:

If i decide to run this account is a £500 per month transfer to soneone else classed as a spend on your debit card to get the £5 monthly reward?

Yes, or to yourself.

No, this is not correct. The £500 Debit Card spend has to be made up of Debit Card transactions. Transfers will NOT count. 

cryptowhale123

Halifax are the worst bank ever. I switched on their last incentive. I have since been trying to switch Halifax to Ulster and twice Halifax have rejected the switch.