Halifax Reward current account

WillPS

Agree, if this was the earliest you could possibly satisfy the requirement then it's legitimate to complain and ask for the fiver, and I'd be surprised if they didn't settle that complaint pretty quickly.

Easiest way to open a complaint is to use the chat in app - start with 'Open a complaint' to make sure it is treated as one.

ThePirates

2mins work, £5 in my account! 
Thanks all!

s71hj

WillPS said:

knack92 said:

I usually use credit card payment to cover the £500 spend but it was lower this month and I forgot to do an additional payment. 

Would today be too late because it won't clear in time?

It's definitely too late now either way, but the answer is yes - it takes at least 1 working day to get a Visa debit payment to settle. Even if the last day of the month and the next day both fall on working days, and you use a transaction which completes immediately/very quickly, it'll still show as the next month.

I always advocate getting everything done on the 1st or as near as possible to it, including having a brief check of the tracker to see if any Reward Extras need to be renewed before the next 1st of the month comes about.

My wife and I have just done this, securing our £30 worth of Halifax fivers in August.

Sorry if I'm being dense, but £30? I'd assumed you can have a joint and sole accounts? What am I missing?

BlueonBlue

Many people have 4-6 accounts possibly even more since 2009
You used to get £50-£75 or £100 to open each one in branch once upon a time .

s71hj

BlueonBlue said:

Many people have 4-6 accounts possibly even more since 2009
You used to get £50-£75 or £100 to open each one in branch once upon a time .

Wow. I'll have to look into that. So I suppose with 5 accounts per couple and 5 joint accounts we can make £75 a month as a couple with a bit of moving about of money? I think there is a way a debit card payment to an account with another provider can be automated too.

Nick_C

I can't find it on their website, but I think you are now limited to 3 accounts each plus one joint account.

And each new account you open could result in a hard search on your credit files. 

WillPS

Nick_C said:

I can't find it on their website, but I think you are now limited to 3 accounts each plus one joint account.

And each new account you open could result in a hard search on your credit files. 

You're limited to 3 Reward accounts and 1 Ultimate Reward. Can be sole or joint, but a joint uses up both account holders allowances.

The optimum strategy (unless you're lucky enough to have many existing ones) is 3 sole Reward accounts per person.

where_are_we

My OH and I have 3 Halifax Reward Current accounts each. To get the £5 reward each month you need to choose that option, spend £500 each month using the debit card (we pay £500 into a savings account and then withdraw 2 days later once the debit card transaction has completed), pay in £1500 each month, and keep your account in credit (we keep a £1 balance). You get the £5 reward about the 12th of the following month. Easiest way is to pay in £1500 on the first Monday,Tuesday or Wednesday following the 12th (you do not want your debit card payments to be over a weekend because there will be a one or two day delay before you can retrieve your £500 from your savings account), immediately return £1005 to your main current account (the £5 reward will have been added from the previous month) leaving £501 in your Reward account to spend £500 using your debit card to go to your savings account. Then 2 days later move your £500 from your savings account to your best interest paying account.

Remember after one year you have to renew your reward selection - you will get an email warning you to do this.

WillPS

where_are_we said:

My OH and I have 3 Halifax Reward Current accounts each. To get the £5 reward each month you need to choose that option, spend £500 each month using the debit card (we pay £500 into a savings account and then withdraw 2 days later once the debit card transaction has completed), pay in £1500 each month, and keep your account in credit (we keep a £1 balance). You get the £5 reward about the 12th of the following month. Easiest way is to pay in £1500 on the first Monday,Tuesday or Wednesday following the 12th (you do not want your debit card payments to be over a weekend because there will be a one or two day delay before you can retrieve your £500 from your savings account), immediately return £1005 to your main current account (the £5 reward will have been added from the previous month) leaving £501 in your Reward account to spend £500 using your debit card to go to your savings account. Then 2 days later move your £500 from your savings account to your best interest paying account.

Remember after one year you have to renew your reward selection - you will get an email warning you to do this.

I think you're overcomplicating it. There's no need to wait until the 12th. 

If you have 3 accounts, you can transfer £2500 in to the first one, then transfer £2000 from there to the second one, then finally £1500 to the third. Then make 3 £500 debit card transactions, 1 with each of your debit cards.

The remaining £1000 can then be transferred back to somewhere it'll earn interest.

We do it all on the 1st even if that falls on a non-working day, although typically we pay off our credit cards with most of it so the timing is less critical. If I need the money back sooner for whatever reason I use Revolut.

Job done. Check the tracker towards the end of the month to see if any need renewing, but don't be concerned if it says you're not on track - because it's completely unreliable. 

s71hj

WillPS said:

where_are_we said:

My OH and I have 3 Halifax Reward Current accounts each. To get the £5 reward each month you need to choose that option, spend £500 each month using the debit card (we pay £500 into a savings account and then withdraw 2 days later once the debit card transaction has completed), pay in £1500 each month, and keep your account in credit (we keep a £1 balance). You get the £5 reward about the 12th of the following month. Easiest way is to pay in £1500 on the first Monday,Tuesday or Wednesday following the 12th (you do not want your debit card payments to be over a weekend because there will be a one or two day delay before you can retrieve your £500 from your savings account), immediately return £1005 to your main current account (the £5 reward will have been added from the previous month) leaving £501 in your Reward account to spend £500 using your debit card to go to your savings account. Then 2 days later move your £500 from your savings account to your best interest paying account.

Remember after one year you have to renew your reward selection - you will get an email warning you to do this.

I think you're overcomplicating it. There's no need to wait until the 12th. 

If you have 3 accounts, you can transfer 2500 in to the first one, then transfer 2000 from there to the second one, then finally 1500 to the third. Then make 3 £500 debit card transactions, 1 with each of your debit cards.

We do it all on the 1st even if that falls on a non-working day, although typically we pay off our credit cards with most of it so the timing is less critical. If I need the money back sooner for whatever reason I use Revolut.

Job done. Check the tracker towards the end of the month to see if any need renewing, but don't be concerned if it says you're not on track - because it's completely unreliable. 

What is Revolut?