Halifax Scrapping £5/Cinema ticket Rewards.

King_Of_Fools

Super_Stomper said:

Thank you. I also only found out about this via the MSE newsletter. I originally had a Reward Current Account as my regular income was paid into this and all my DDs came out of it so I've never had to pay the £3 fee. When the £5 Reward Extra (after tax) was added for keeping £5k in my current account I did that as it was a better interest rate than most of the savings accounts at the time. I also keep a little extra in it to pay for any large charges that have gone onto my credit card so that my balance doesn't fall below the £5k. I shall probably keep the account 'as is' for now until I see what interest is paid compared to the £5 reward (£6.25 gross).

The interest rate will be 1.5% up to £3999.99, and 3% between £4000 to £5000.

So assuming you have £5000 or more in the account for the whole year you roughly will earn:

• 1.5% of £4000 = £60
• 3% of £1000 = £30

So £90 per year or £7.50 per month.
So you will be better off than the £6.25 (before tax) you get today.

gt94sss2

King_Of_Fools said:

Super_Stomper said:

Thank you. I also only found out about this via the MSE newsletter. I originally had a Reward Current Account as my regular income was paid into this and all my DDs came out of it so I've never had to pay the £3 fee. When the £5 Reward Extra (after tax) was added for keeping £5k in my current account I did that as it was a better interest rate than most of the savings accounts at the time. I also keep a little extra in it to pay for any large charges that have gone onto my credit card so that my balance doesn't fall below the £5k. I shall probably keep the account 'as is' for now until I see what interest is paid compared to the £5 reward (£6.25 gross).

The interest rate will be 1.5% up to £3999.99, and 3% between £4000 to £5000.

So assuming you have £5000 or more in the account for the whole year you roughly will earn:

• 1.5% of £4000 = £60
• 3% of £1000 = £30

So £90 per year or £7.50 per month.
So you will be better off than the £6.25 (before tax) you get today.

Though if someone kept £5,000 in the account, £90 of interest equates to an interest rate of just 1.8%.

Hence, many better alternatives available to hold cash ATM.

schiff

I have the Halifax Reward C/A, use it minimally for the £5 reward. No DDs but one monthly £500 debit card deposit elsewhere is no problem. FPs to my Halifax and Bank of Scotland RSs plus a couple more to ensure the £1500 is churned through the account each month. Renewed my reward a few months back till April 2026.  
I don't specifically need a C/A with Halifax but if I close it in September after the lump sum rewards have been received, does that impinge on the RS? I don't read any requirement in the T&Cs.

Icesaver

PRAISETHESUN said:

Icesaver said:

My £5 Reward was due to expire on 31 July, I noticed some members had managed to renew their reward on 16th June so I gave it a go and I was also given the chance to renew for another 12 months via the app. This went through fine. I've now noticed though, that when I use the 'Track your Rewards Extras' it says my reward ends on July 31st 2025, but the 'Add Your Rewards Extras' says I've already added a rewards extra and can't add another until it expires on 31 July 2026. Communications from Halifax over this policy change have been a bit sketchy. I can't see anything regarding the remaining reward being paid in a lump sum, other than on here, and it's ambiguous when my reward expires.

I didn't try it as my rewards expire middle of next year anyway, but if it's anything like the normal renewal process then that looks normal to me. Existing rewards always appear as expiring at the end of said month, even after selecting a renewal option. It will then update with the new expiry at the start of the next month when the new reward cycle starts. I'd be suprise if it hasn't updated overnight now that the new month has started, like Section62 has seen above.

Thanks for this, I've never noticed the difference in the two as I've just renewed when I had the renewal e-mail I'll have to wait until August to see if it changes on the tracker, mine still says it ends  July 2025, so hasn't updated with the month change.

Icesaver

ForumUser7 said:

Section62 said:

Icesaver said:

My £5 Reward was due to expire on 31 July, I noticed some members had managed to renew their reward on 16th June so I gave it a go and I was also given the chance to renew for another 12 months via the app. This went through fine. I've now noticed though, that when I use the 'Track your Rewards Extras' it says my reward ends on July 31st 2025, but the 'Add Your Rewards Extras' says I've already added a rewards extra and can't add another until it expires on 31 July 2026. Communications from Halifax over this policy change have been a bit sketchy. I can't see anything regarding the remaining reward being paid in a lump sum, other than on here, and it's ambiguous when my reward expires.

Not sure it means anything, but my renewal was due and today the tracker has been updated to show an expiry of 30 June 2026.

So it looks like the system is recognising and actioning renewals made before the 17th, even if the renewal was due after that date.

Whether Halifax pay out for the full year remains to be seen though.

Take a screenshot, and if they don’t pay out submit it as a complaint. If you renewed and the system shows it, you should probably receive the payout

Thanks. I just checked my tracker still saying July 2025 I'll take screenshot of my renewal page just in case !

Icesaver

antonio1 said:

Icesaver said:

My £5 Reward was due to expire on 31 July, I noticed some members had managed to renew their reward on 16th June so I gave it a go and I was also given the chance to renew for another 12 months via the app. This went through fine. I've now noticed though, that when I use the 'Track your Rewards Extras' it says my reward ends on July 31st 2025, but the 'Add Your Rewards Extras' says I've already added a rewards extra and can't add another until it expires on 31 July 2026. Communications from Halifax over this policy change have been a bit sketchy. I can't see anything regarding the remaining reward being paid in a lump sum, other than on here, and it's ambiguous when my reward expires.

I've just read of this in the MSE email.  How did you manage to renew the extra at this time?  I believe the method here was change the account to an ordinary current account then apply again for reward extra.  But under track reward extras online, it has this text which unless it's not yet actually implemented, seems clear it can't now be done (so I've not yet tried otherwise I'll lose this month's reward): 

"Why can't I add a Reward Extras offer?

The option to add Reward Extras is no longer available.However, if you're a Reward Current Account holder:

• No debit card fees from us when using your card abroad after 07 July
• You could earn credit interest on your account from 01 October"

I saw a post on here where someone said they'd been able to renew their existing reward before the 17th so I just gave it a go in the app, and it allowed me to renew.I didn't do anything special.

gt94sss2

schiff said:

I don't specifically need a C/A with Halifax but if I close it in September after the lump sum rewards have been received, does that impinge on the RS? I don't read any requirement in the T&Cs.

The Halifax RS does not require that you hold a current account with them.

antonio1

Icesaver said:

antonio1 said:

Icesaver said:

My £5 Reward was due to expire on 31 July, I noticed some members had managed to renew their reward on 16th June so I gave it a go and I was also given the chance to renew for another 12 months via the app. This went through fine. I've now noticed though, that when I use the 'Track your Rewards Extras' it says my reward ends on July 31st 2025, but the 'Add Your Rewards Extras' says I've already added a rewards extra and can't add another until it expires on 31 July 2026. Communications from Halifax over this policy change have been a bit sketchy. I can't see anything regarding the remaining reward being paid in a lump sum, other than on here, and it's ambiguous when my reward expires.

I've just read of this in the MSE email.  How did you manage to renew the extra at this time?  I believe the method here was change the account to an ordinary current account then apply again for reward extra.  But under track reward extras online, it has this text which unless it's not yet actually implemented, seems clear it can't now be done (so I've not yet tried otherwise I'll lose this month's reward): 

"Why can't I add a Reward Extras offer?

The option to add Reward Extras is no longer available.However, if you're a Reward Current Account holder:

• No debit card fees from us when using your card abroad after 07 July
• You could earn credit interest on your account from 01 October"

I saw a post on here where someone said they'd been able to renew their existing reward before the 17th so I just gave it a go in the app, and it allowed me to renew.I didn't do anything special.

Thanks. Yes I tried that but the option is showing as not available to me.  Mine was to renew end of July.  I haven't yet checked the contractual position- whether they can remove a benefit without giving notice but either way I'll try and resolve this with them as I didn't get a renewal notification.

Middle_of_the_Road

schiff said:

I have the Halifax Reward C/A, use it minimally for the £5 reward. No DDs but one monthly £500 debit card deposit elsewhere is no problem. FPs to my Halifax and Bank of Scotland RSs plus a couple more to ensure the £1500 is churned through the account each month. Renewed my reward a few months back till April 2026.  
I don't specifically need a C/A with Halifax but if I close it in September after the lump sum rewards have been received, does that impinge on the RS? I don't read any requirement in the T&Cs.

No, unlike Lloyds and BOS, Halifax don't require you to hold a current account to get the regular saver. 
I never close unused current accounts. They're valuable for future switch incentives, and if your main account is having IT issues, or is frozen, which seems to happen more often recently.

Katiehound

I'll be interested to see how they resolve payments beyond the end of the year, my 'Reward' ends May 31st.....