Halifax £225 switching offer 25/7/23 to 31/8/23

worriednoob

boingy said:

worriednoob said:

Am I okay to open the Reward (£3) Account, switch to it and once I've got the £150, to close it down or downgrade it to a standard current account even though I already have a standard current account?

Yep, that's fine. I've done the same in the past. And whilst you are waiting for the bonus you can avoid the fee by dumping £1500 in the account and taking it straight back out again once per month.

I seem to recall they blocked my outgoing payment so it was yet another phone call to unblock it. It's a shame their AI is not "I" enough to see a payment coming in and going back out to the same account as OK - that would be a rubbish scam.

Ahh so in that case I'll avoid the fees by simply transferring £1500 from our joint account to the sole current accounts.  BTW, the good news is that both of our halifax rewards sole accounts are opened - It literally took 5 minutes!  But it looks like we can't switch yet because Halifax is asking for debit card details, so we'll have to wait for the Metro debit cards to arrive.  Cheers again.

pecunianonolet

worriednoob said:

boingy said:

worriednoob said:

Am I okay to open the Reward (£3) Account, switch to it and once I've got the £150, to close it down or downgrade it to a standard current account even though I already have a standard current account?

Yep, that's fine. I've done the same in the past. And whilst you are waiting for the bonus you can avoid the fee by dumping £1500 in the account and taking it straight back out again once per month.

I seem to recall they blocked my outgoing payment so it was yet another phone call to unblock it. It's a shame their AI is not "I" enough to see a payment coming in and going back out to the same account as OK - that would be a rubbish scam.

Ahh so in that case I'll avoid the fees by simply transferring £1500 from our joint account to the sole current accounts.  BTW, the good news is that both of our halifax rewards sole accounts are opened - It literally took 5 minutes!  But it looks like we can't switch yet because Halifax is asking for debit card details, so we'll have to wait for the Metro debit cards to arrive.  Cheers again.

Yes, you can avoid the fees and make money by following the terms required for the £5 monthly cashback. If you follow through all requirenments, this is actually one of the best rewards lately, just with a little more "work" to do each month.

worriednoob

pecunianonolet said:

worriednoob said:

boingy said:

worriednoob said:

Am I okay to open the Reward (£3) Account, switch to it and once I've got the £150, to close it down or downgrade it to a standard current account even though I already have a standard current account?

Yep, that's fine. I've done the same in the past. And whilst you are waiting for the bonus you can avoid the fee by dumping £1500 in the account and taking it straight back out again once per month.

I seem to recall they blocked my outgoing payment so it was yet another phone call to unblock it. It's a shame their AI is not "I" enough to see a payment coming in and going back out to the same account as OK - that would be a rubbish scam.

Ahh so in that case I'll avoid the fees by simply transferring £1500 from our joint account to the sole current accounts.  BTW, the good news is that both of our halifax rewards sole accounts are opened - It literally took 5 minutes!  But it looks like we can't switch yet because Halifax is asking for debit card details, so we'll have to wait for the Metro debit cards to arrive.  Cheers again.

Yes, you can avoid the fees and make money by following the terms required for the £5 monthly cashback. If you follow through all requirenments, this is actually one of the best rewards lately, just with a little more "work" to do each month.

I'm not saying that it's not a good reward, but I feel there are too many hoops to jump through just to get the £5 cashback per month.  To get the £25 per month also is a pain as you have to spend £500 or keep £5k in your account and then also pay £1500 per month.

One thing I forgot to ask.  If I now open a 3rd halifax account (so that would be 1 standard current & 2 reward accounts) - Would I be able to switch another bank to the 3rd account to get the £150 for a 2nd time?

soulsaver

The terms are kindly provided on page 1... 

worriednoob

We've now received our £150 each, so thank you very much for your help and advice.  As I said previously, there's too many hurdles to get the £25 per month, such as spending hundreds or keeping £5k+ in your account.  Now I know that to avoid the monthly fee, I can drop £1500 each month, but it just too much of a headache for me, so I want to know can I downgrade the reward accounts back to standard current with no monthly fee or do I have to close it down permanently?

PRAISETHESUN

worriednoob said:

We've now received our £150 each, so thank you very much for your help and advice.  As I said previously, there's too many hurdles to get the £25 per month, such as spending hundreds or keeping £5k+ in your account.  Now I know that to avoid the monthly fee, I can drop £1500 each month, but it just too much of a headache for me, so I want to know can I downgrade the reward accounts back to standard current with no monthly fee or do I have to close it down permanently?

If you've been paid your incentive, and have no desire to jump through hoops to qualify for the £5 monthly reward, or the £25 cashback incentive, then yes, you are free to downgrade to a fee-free current account.

worriednoob

PRAISETHESUN said:

worriednoob said:

We've now received our £150 each, so thank you very much for your help and advice.  As I said previously, there's too many hurdles to get the £25 per month, such as spending hundreds or keeping £5k+ in your account.  Now I know that to avoid the monthly fee, I can drop £1500 each month, but it just too much of a headache for me, so I want to know can I downgrade the reward accounts back to standard current with no monthly fee or do I have to close it down permanently?

If you've been paid your incentive, and have no desire to jump through hoops to qualify for the £5 monthly reward, or the £25 cashback incentive, then yes, you are free to downgrade to a fee-free current account.

Thanks very much for confirming that.  I tried to do the downgrade online, but there is no option for this.  Do I have to contact Halifax customer services to do the downgrade?

boingy

worriednoob said:

PRAISETHESUN said:

worriednoob said:

We've now received our £150 each, so thank you very much for your help and advice.  As I said previously, there's too many hurdles to get the £25 per month, such as spending hundreds or keeping £5k+ in your account.  Now I know that to avoid the monthly fee, I can drop £1500 each month, but it just too much of a headache for me, so I want to know can I downgrade the reward accounts back to standard current with no monthly fee or do I have to close it down permanently?

If you've been paid your incentive, and have no desire to jump through hoops to qualify for the £5 monthly reward, or the £25 cashback incentive, then yes, you are free to downgrade to a fee-free current account.

Thanks very much for confirming that.  I tried to do the downgrade online, but there is no option for this.  Do I have to contact Halifax customer services to do the downgrade?

Not sure about online but you can definitely downgrade on the app. I did it a few months ago. You have to start opening a new account of the type you want to convert to and it gives you the option to convert your existing one. Not very intuitive but it works.

worriednoob

boingy said:

worriednoob said:

PRAISETHESUN said:

worriednoob said:

We've now received our £150 each, so thank you very much for your help and advice.  As I said previously, there's too many hurdles to get the £25 per month, such as spending hundreds or keeping £5k+ in your account.  Now I know that to avoid the monthly fee, I can drop £1500 each month, but it just too much of a headache for me, so I want to know can I downgrade the reward accounts back to standard current with no monthly fee or do I have to close it down permanently?

If you've been paid your incentive, and have no desire to jump through hoops to qualify for the £5 monthly reward, or the £25 cashback incentive, then yes, you are free to downgrade to a fee-free current account.

Thanks very much for confirming that.  I tried to do the downgrade online, but there is no option for this.  Do I have to contact Halifax customer services to do the downgrade?

Not sure about online but you can definitely downgrade on the app. I did it a few months ago. You have to start opening a new account of the type you want to convert to and it gives you the option to convert your existing one. Not very intuitive but it works.

Thanks very much!  Yes both the app and online method are exactly the same and we've managed to downgrade the accounts back to standard current.  It only took a minute to do, so really appreciate your help.

Banksy_2

Has anyone tried doing a switch to Halifax having already benefitted from a Lloyds Bank switch bonus, and managed to get the £150 from Halifax?

Just wondered given the success from Nat West / RBS / Ulster switches that seems to work.