Halifax Switch offer £200 & chances to win

SJE89

I've had an email through from Halifax (this exclusive to those with a Halifax mortgage, which I have), switch an account from another bank into them, get £200 and entered into a draw to pay off your mortgage up to the value of £300k each month, as well as other cash prizes.

I can either switch into a reward account (free cinema ticket each month, plus a magazine subscription and £5 cashback) £3 a month, waived if £1500 paid in each month, or an Ultimate Reward account £17 a month, includes all the above, plus AA cover, mobile phone insurance, travel insurance and home emergency cover.
However, you have to spend £500 a month on your debit card or keep £5k in it to get the rewards.
The problem this presents me is that I keep a separate account for my debit card spends so that I know I have enough to cover my direct debits and standing orders each month.
I'm assuming you have to have at least 2 active, regular direct debits also as is the usual criteria for these accounts?

Has anyone taken this offer who can confirm?

grumbler

SJE89 said:

... a reward account (free cinema ticket each month, plus a magazine subscription and £5 cashback) £3 a month, waived if £1500 paid in each month,

Plus and and? Really?

I'm assuming you have to have at least 2 active, regular direct debits also as is the usual criteria for these accounts?

Don't assume anything, especially when T&C are available.

Regarding £500 monthly spending, there is plenty of information on this board.

Halifax Rewards " Not on Track".

New Halifax Reward account. Has anyone figured out a way around £500 spending?

....

pridehappy

I think the intention is to use the Reward account as your main bank account for everything, although I understand not many people like do this.

You could consider using this account for your purchases and then just have 2 smaller direct debits (like gym memberships for example), coming out of the Halifax Reward to meet the requirements. Even so, the £200 isn’t a bad offer even if you miss out on rewards, depending on your offer elsewhere.

SJE89

grumbler said:

SJE89 said:

... a reward account (free cinema ticket each month, plus a magazine subscription and £5 cashback) £3 a month, waived if £1500 paid in each month,

Plus and and? Really?

No, I realised after I posted and went back to look. It's one of the 3. 
To top it all off, after I opened the account and tried to arrange the switch, the first available date was post the cut off for the offer.
So I think I will be closing the account on Tuesday, unless they can honour the offer regardless. 

grumbler

SJE89 said:

grumbler said:

SJE89 said:

... a reward account (free cinema ticket each month, plus a magazine subscription and £5 cashback) £3 a month, waived if £1500 paid in each month,

Plus and and? Really?

No, I realised after I posted and went back to look. It's one of the 3. 
To top it all off, after I opened the account and tried to arrange the switch, the first available date was post the cut off for the offer.
So I think I will be closing the account on Tuesday, unless they can honour the offer regardless. 

Did you read the T&C of the offer? Usually the cut off date is for opening a new account or for initiating a switch, not for completing the switch.

pridehappy said:

You could consider using this account for your purchases and then just have 2 smaller direct debits (like gym memberships for example), coming out of the Halifax Reward to meet the requirements.

What requirements?

Middle_of_the_Road

SJE89 said:

grumbler said:

SJE89 said:

... a reward account (free cinema ticket each month, plus a magazine subscription and £5 cashback) £3 a month, waived if £1500 paid in each month,

Plus and and? Really?

No, I realised after I posted and went back to look. It's one of the 3. 
To top it all off, after I opened the account and tried to arrange the switch, the first available date was post the cut off for the offer.
So I think I will be closing the account on Tuesday, unless they can honour the offer regardless. 

I think as long as you request the switch before the offer ends, you will be ok.

Katiehound

is this not your normal Reward account?

if so, don't need DDs

£5 a month reward if you spend out £500 on the debit card or   keep a balance of £5 k (or cinema tickets etc)

SJE89

Katiehound said:

is this not your normal Reward account?

if so, don't need DDs

£5 a month reward if you spend out £500 on the debit card or   keep a balance of £5 k (or cinema tickets etc)

I have stupidly asked them to switch from my NW reward account.
I think what I will do, is have this one as my main account and use the debit card to pay off my amex card each month and use that for purchases, and any surplus money keep for cash withdrawals when needed and put the rest in savings. 

Katiehound

Once this one is up and running I would suggest opening another ordinary account- which you could use for switching in the future.
Halifax also has a reasonable regular saver
there are lots of ideas for using your debit card (to reach the £500) on a different thread