Halifax Scrapping £5/Cinema ticket Rewards.

ForumUser7

HillStreetBlues said:

Been update https://www.halifax.co.uk/bankaccounts/current-accounts/reward-current-account.html
https://www.halifax.co.uk/assets/pdf/bankaccounts/reward-current-account-guide-to-changes.pdf

Looks like the gravy train has derailed and the £15 monthly (for 3 accounts) is lost, and replaced with (on the specified future dates):

• A low rate of interest subject to ts and cs
• Fee free overseas

Anyone see any reason to, once the reward extras have ended, NOT apply for a £100 interest free overdraft on each reward current account? The current reason is as the account needs to remain in credit, but that doesn't seem to be a thing anymore - and neither does the £500 spend requirement.

friolento

ForumUser7 said:

HillStreetBlues said:

Been update https://www.halifax.co.uk/bankaccounts/current-accounts/reward-current-account.html
https://www.halifax.co.uk/assets/pdf/bankaccounts/reward-current-account-guide-to-changes.pdf

Looks like the gravy train has derailed and the £15 monthly (for 3 accounts) is lost, and replaced with (on the specified future dates):

• A low rate of interest subject to ts and cs
• Fee free overseas

Anyone see any reason to, once the reward extras have ended, NOT apply for a £100 interest free overdraft on each reward current account? The current reason is as the account needs to remain in credit, but that doesn't seem to be a thing anymore - and neither does the £500 spend requirement.

The £100 might be of interest if the Reward account is your main account. Nothing remotely attractive otherwise AFAICS.

masonic

They're doing the best they can to put spin on it, but they've essentially ended the scheme. New things they mention are pretty much becoming the standard for current accounts anyway.

WillPS

It's almost aligned with the BOS Vantage account now - presume BOS Vantage will add fee-free debit card use soon and then they will be effectively one and the same.

RIP

pfpf

wow, there's bad and then there's this.

"get rewarded for your every day banking".

essentially a low interest rate on your savings as long as you don't withdraw and overseas benefits, "everyday" doesn't seem the correct term.

Hattie627

WillPS said:

It's almost aligned with the BOS Vantage account now - presume BOS Vantage will add fee-free debit card use soon and then they will be effectively one and the same.

RIP

There is no monthly fee on the BOS Vantange. I know that the Halifax Reward £3 monthly fee can be avoided, but with the scrapping of the £5 reward, surely the fee should go too.

myth123

Ahhhh good while it lasted on 3 accounts for all these years. The benefits don't look great so I'll downgrade in the Autumn and leave them to sit there for future switching offers elsewhere. 

Hattie627

There's nothing in the information about the new "rewards" saying what happens to existing rewards applied for/renewed before 17th June. Maybe they will be honoured and carry on until expiry date, best we can hope for.

Stargunner

Hattie627 said:

There's nothing in the information about the new "rewards" saying what happens to existing rewards applied for/renewed before 17th June. Maybe they will be honoured and carry on until expiry date, best we can hope for.

They will be honoured,as per the t&c’s when you opened them.

PRAISETHESUN

It's looking to become very similar to Club Lloyds, with the fee-free debit card spending, interest on current account balances (coming in Oct), and the various lackluster "reward" savings accounts - just missing the lifestyle benefits. I'll be keeping mine open purely because they are linked to YouGov, but likely downgrading them whenever my rewards expire/are taken away.