Halifax Reward current account

ForumUser7

Ed-1 said:

ForumUser7 said:

Anyone else missing the £5 still? 

Have you renewed your Rewards Extras?

Yep [Body is no longer 7 characters too short]

Ed-1

ForumUser7 said:

Ed-1 said:

ForumUser7 said:

Anyone else missing the £5 still? 

Have you renewed your Rewards Extras?

Yep [Body is no longer 7 characters too short]

So you met the criteria yet didn't get the reward? Had the tracker updated to show you were on track?

ForumUser7

Ed-1 said:

ForumUser7 said:

Ed-1 said:

ForumUser7 said:

Anyone else missing the £5 still? 

Have you renewed your Rewards Extras?

Yep [Body is no longer 7 characters too short]

So you met the criteria yet didn't get the reward? Had the tracker updated to show you were on track?

Yes. No - the same issue others faced, but they were paid anyway 😐

Ed-1

ForumUser7 said:

Ed-1 said:

ForumUser7 said:

Ed-1 said:

ForumUser7 said:

Anyone else missing the £5 still? 

Have you renewed your Rewards Extras?

Yep [Body is no longer 7 characters too short]

So you met the criteria yet didn't get the reward? Had the tracker updated to show you were on track?

Yes. No - the same issue others faced, but they were paid anyway 😐

Interesting. This is what happened the last time there was a systemic failure of the tracker. Some accounts got paid; others didn't, which is why I think there would've been more payments missing had people not taken the belt and braces approach of repeating the criteria.

WillPS

Ed-1 said:

ForumUser7 said:

Ed-1 said:

ForumUser7 said:

Ed-1 said:

ForumUser7 said:

Anyone else missing the £5 still? 

Have you renewed your Rewards Extras?

Yep [Body is no longer 7 characters too short]

So you met the criteria yet didn't get the reward? Had the tracker updated to show you were on track?

Yes. No - the same issue others faced, but they were paid anyway 😐

Interesting. This is what happened the last time there was a systemic failure of the tracker. Some accounts got paid; others didn't, which is why I think there would've been more payments missing had people not taken the belt and braces approach of repeating the criteria.

I think you're looking for a pattern where none exists. Of the 220ish Halifax fivers my wife and I have had, we've had 4 instances where a fiver hasn't showed up. They all occured at different times, and on at least 1 of them the "tracker" showed as on track.

In every case, Halifax eventually just credited the £5 anyway.

Suffice to say, the system isn't perfect.

VXman

PRAISETHESUN said:

VXman said:

Not used my reward account in ages (year or more?) other than to fund a monthly saver. Doesn't seem worth keeping £5000 in it for £5 per month.

You should elect for the £500 debit card spend instead next time yours comes up for renewal. Plenty of ways to artificially generate some debit card transactions if you wouldn't spend that much normally. Also means you can put the £5k in an account that pays decent interest!

How can you generate £500 debit card transactions 'artificially'? Even if you can that is just £5 per month but you have to pay £3 per month to qualify? Re: savings. I have instant access at Ulster bank giving me 5.2% and chase 5.1%. I don't see Halifax doing anything better than that.

I already have chase giving me 1% cashback on debit card spending and 19 months if 0% interest credit card. I really struggle to see any benefits worth bothering for in the Halifax account.

Ed-1

VXman said:

PRAISETHESUN said:

VXman said:

Not used my reward account in ages (year or more?) other than to fund a monthly saver. Doesn't seem worth keeping £5000 in it for £5 per month.

You should elect for the £500 debit card spend instead next time yours comes up for renewal. Plenty of ways to artificially generate some debit card transactions if you wouldn't spend that much normally. Also means you can put the £5k in an account that pays decent interest!

How can you generate £500 debit card transactions 'artificially'? Even if you can that is just £5 per month but you have to pay £3 per month to qualify? Re: savings. I have instant access at Ulster bank giving me 5.2% and chase 5.1%. I don't see Halifax doing anything better than that.

I already have chase giving me 1% cashback on debit card spending and 19 months if 0% interest credit card. I really struggle to see any benefits worth bothering for in the Halifax account.

You don't pay the £3 fee if you pay in £1,500 and you can have multiple Halifax Reward accounts so that is multiple £5s every month. You don't even need to spend any money as some savings providers such as Skipton let you pay into a savings account using your Halifax debit card so can make the Halifax system think you've spent £500 on your debit card by paying yourself.

Snapdragon

VXman said:

PRAISETHESUN said:

VXman said:

Not used my reward account in ages (year or more?) other than to fund a monthly saver. Doesn't seem worth keeping £5000 in it for £5 per month.

You should elect for the £500 debit card spend instead next time yours comes up for renewal. Plenty of ways to artificially generate some debit card transactions if you wouldn't spend that much normally. Also means you can put the £5k in an account that pays decent interest!

How can you generate £500 debit card transactions 'artificially'? Even if you can that is just £5 per month but you have to pay £3 per month to qualify? Re: savings. I have instant access at Ulster bank giving me 5.2% and chase 5.1%. I don't see Halifax doing anything better than that.

I already have chase giving me 1% cashback on debit card spending and 19 months if 0% interest credit card. I really struggle to see any benefits worth bothering for in the Halifax account.

I have 3 Halifax accounts so £15 a month generated by paying £500 into Yorkshire 7% RS,  max into Skipton 7% RS, pay off my 0% credit card now it's nearing the end of its 0% term and anything else can go into Family BS 5.1% EA account. Have never paid the £3 a month since I pay in £1500 and then move the £1000 I won't be spending back to the originating account. Once SO are set up there is no effort involved each month, hence I've received £500+ over the 3 years I've had these accounts which I consider really easy to maintain accounts.

ColdIron

VXman said:

PRAISETHESUN said:

VXman said:

Not used my reward account in ages (year or more?) other than to fund a monthly saver. Doesn't seem worth keeping £5000 in it for £5 per month.

You should elect for the £500 debit card spend instead next time yours comes up for renewal. Plenty of ways to artificially generate some debit card transactions if you wouldn't spend that much normally. Also means you can put the £5k in an account that pays decent interest!

How can you generate £500 debit card transactions 'artificially'?

Transfer £500 to a bank that accepts DC payments in

Even if you can that is just £5 per month but you have to pay £3 per month to qualify?

The £3 is waived if you pay in £1,500 like many other banks. It's all handled by SO for me (along with all the others)

I have instant access at Ulster bank giving me 5.2% and chase 5.1%. I don't see Halifax doing anything better than that.

Me neither so I don't keep more than a token few quid with then

I already have chase giving me 1% cashback on debit card spending and 19 months if 0% interest credit card. I really struggle to see any benefits worth bothering for in the Halifax account.

1% is the lowest cashback I have so rarely use chase for all but the most trivial purchases. The list of exclusions can catch you out. I usually use my 2% Edge CC but have two alternatives better than Chase. 0% cards with long periods are very good now with the higher interest rates available now

WillPS

VXman said:

PRAISETHESUN said:

VXman said:

Not used my reward account in ages (year or more?) other than to fund a monthly saver. Doesn't seem worth keeping £5000 in it for £5 per month.

You should elect for the £500 debit card spend instead next time yours comes up for renewal. Plenty of ways to artificially generate some debit card transactions if you wouldn't spend that much normally. Also means you can put the £5k in an account that pays decent interest!

How can you generate £500 debit card transactions 'artificially'? Even if you can that is just £5 per month but you have to pay £3 per month to qualify? Re: savings. I have instant access at Ulster bank giving me 5.2% and chase 5.1%. I don't see Halifax doing anything better than that.

I already have chase giving me 1% cashback on debit card spending and 19 months if 0% interest credit card. I really struggle to see any benefits worth bothering for in the Halifax account.

As above, Halifax Reward isn't something which needs to affect your easy access savings at all, other than potentially for a few days while you circulate money through it. It's certainly not an either/or situation; you can have your cake and eat it (many times over, in fact!). 

My £500 debit card spend is usually made up of a mixture of credit card payments (all timed to be due around the start of each month), YBS regular saver deposits, Revolut topups, and (if needs be, because it takes ages) NS&I deposits. Others use things like utility/telecoms bills and council tax payments - but I prefer to leave these earning cashback from Santander 123 Lite.