£125.00 HALIFAX bank account switch. No restrictions!! or £225 Cashback with use. Other info inside
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£125.00 HALIFAX bank account switch. No restrictions!! or £225 Cashback with use. Other info inside

182
Found 13th Feb 2015
Starts Monday 16th February then revert to £100 on 4th April

Halifax will pay you £125 to switch *ANY bank account to them. Even if it has no credits or debits!!! (Previously this offer was only available if switching account with £750+ credits and 2+ direct debits)

I called to make appointment today (numbers below) and was informed of this offer starting Monday nationwide.

£40 Quido available on new reward account. If you choose to use them beyond the cashback, you will get £5 extra p/m if deposit £750 p/m and have x2 direct debits (there is some flexibility in the t&c's). That gets you £225 year 1 for some standard banking.

They also offer 15% cashback with some merchants and some OK interest rates.

Please see comment#1 for my intentions on saving some money in conjunction with the Santander 123 account.

Phone numbers: 0113 242 2229 or 08457 20 30 40 ('#' passed menus if not an existing customer). Very decent service.

edit: * not Bank of Scotland. Note RBS is fine.

182 Comments

Original Poster

Hi guys.

So I've been with Natwest for sometime, have been happy enough but need to start taking my finances more seriously. Without writing a novel here's a summary of what I'm planning:

Use Halifax switching service to attain £125 payment immediately. I shall recoup the £40 quidco cashback. As part of the service I intend to move over my regular outgoing payments to this account and have my salary sent here also.


This will mean I will receive £5 per month fee for using them (>£749 income to account and >1 direct debits). Note you can get an additional £5 per month using there credit card but I'm not interested in that.

I am also opening a Santander 123 current account that I intend to use as a make shift savings account. I was just going to go down the 123 route however I really want to separate my savings from my "current" account, trust me it is much easier to save money when it is in a different account and you maintain your outgoing from another. I will move over certain direct debits that will be most profitable with their cashback scheme (this is worth around £100 pa in cashback for me).

I then set up a standing order from Halifax to Santander of the total value of the DD's and my intended monthly saving. The interest is 3% and completely flexible, take and add as I choose. The interest year 1 will be about £200 for me.

All in I stand to be £500 - £600 better off after year 1 with no more than a bit of effort. Appreciate this is completely specific to me but hopefully might offer someone so useful insight. If you really put the effort in you could even add the First Direct switch £125 cashback to this amoung other things, but I feel my direction requires very basic effort for excellent gains

Edited by: "maxcovergold" 13th Feb 2015

Not seen that guy on TV ads for awhile

I thought with either of them you had to use their swictching service to qualify for cash back? That would mean all of your direct debits going over each time you switch.

ANY bank Account? Even Bank of Scotland?

Original Poster

crumpetman

ANY bank Account? Even Bank of Scotland?


Hi, I think you're right, not Bank of Scotland.

To clarify for other users, Royal Bank of Scotland is fine, but Halifax is a divison of Bank of Scotland. I will change the desc

Whatever happened to Howard?

Original Poster

Argoj

I thought with either of them you had to use their swictching service to … I thought with either of them you had to use their swictching service to qualify for cash back? That would mean all of your direct debits going over each time you switch.



Hi, you don't need to use the switching service to benefit from any Santander cashbacks :-)

I switched a while ago,with no problems at all.

I switched to halifax about a year and a half ago when it was £100 on the incentive. Since then i have moved to first direct. Can i switch back to get this new offer?

The £40 quidco cashback ends tonight

Nice deal, but i opened an account to M & S for 6% savings.

vxlomegav6

Not seen that guy on TV ads for awhile



Not since Operation Yewtree. Coincidence?

Do they close the old account after switch to halifax

Banned

Nice find. I'm going to try this and I wish you all the best with your 2015 financial plan @maxcovergold

Banned

Reading through T&C it doesn't appear that you will get £125 reward from Halifax (offer starts 16/2 according to you) and £40 Quidco cash back (ends today) as the dates won't coincide.

Comment

stroodle

I switched to halifax about a year and a half ago when it was £100 on the … I switched to halifax about a year and a half ago when it was £100 on the incentive. Since then i have moved to first direct. Can i switch back to get this new offer?


From their T's and c's: you are not eligible for this offer if you have received £100 for switching to a Halifax bank account since January 2012. This is from their £100 switch offer so I'm just assuming the £125 offer will be the same. However, if their wording for the £125 offer changes from "received £100" to "received £125" you could argue that point. Worse comes to worse and they say no, put in a complaint and you're at least guaranteed £25 redress payment.

Comment

steague86

CommentFrom their T's and c's: you are not eligible for this offer if you … CommentFrom their T's and c's: you are not eligible for this offer if you have received £100 for switching to a Halifax bank account since January 2012. This is from their £100 switch offer so I'm just assuming the £125 offer will be the same. However, if their wording for the £125 offer changes from "received £100" to "received £125" you could argue that point. Worse comes to worse and they say no, put in a complaint and you're at least guaranteed £25 redress payment.



Is first direct any good? I have heard good things about them.

Comment

vxlomegav6

Not seen that guy on TV ads for awhile



Was gonna say the same Lollzz

Will they give me £125 to stay?

What about if you've already received an incentive previously?

I've been with nationwide for years, pay £10 a month and get free mobile phone insurance , already claimed twice in 4 months ( kids phones, covered even though it's not their account), free Breakdown cover for our two cars. 3% interest on balances of £2500, so can get £5 interest a month. Worldwide travel insurance for the whole family. Fee free cash machine withdrawl abroad, much better rates than travelex. Plus other benefits that slip my mind. So a bit of cash isn't always the best in the long run - depends on personal circumstances.

mccririck

Will they give me £125 to stay?



I was wondering the same, I think they award it to existing customers who do a transfer of a second account to them, if you didn't get a cashback when opening the account. Been tempted to try with my HSBC account as I only set that up in the first place for a promotional mortgage rate. Thing is it might come in handy over the next couple of months if a new promotional rate launches.

Simon Wallace

Not since Operation Yewtree. Coincidence?




That's not nice guy lost his job with the financial crisis

paul.jacobs

I've been with nationwide for years, pay £10 a month and get free mobile … I've been with nationwide for years, pay £10 a month and get free mobile phone insurance , already claimed twice in 4 months ( kids phones, covered even though it's not their account), free Breakdown cover for our two cars. 3% interest on balances of £2500, so can get £5 interest a month. Worldwide travel insurance for the whole family. Fee free cash machine withdrawl abroad, much better rates than travelex. Plus other benefits that slip my mind. So a bit of cash isn't always the best in the long run - depends on personal circumstances.



That works for you, however you do not get free mobile phone insurance or free breakdown cover, they are included in the £10 a month fee you pay. You are basically paying £10 a month for a package that includes these insurances and breakdown cover.

Also, Halifax do a similar account for £15 a month, but if you pay in over £750 a month you get the £5 cashback making it £10 a month. It is worth comparing the insurances and benefits of all such accounts if they suit you.
Edited by: "nige182" 13th Feb 2015

Did this last month. But you didn't need to set up any DD's like you've said above. That condition was to receive the fiver per month.

if i have 2 current accounts with hsbc, can i transfer only one over? or will they automatically transfer both accounts?

humadoon

CommentIs first direct any good? I have heard good things about them.



I have been with First Direct for about 6 months now. I have had no problems so far. Everything is straight forward on their banking app and setting up additional accounts is a breeze. When I have had to call them, I have been put through within a few rings. Always really pleasant and helpful people on the other end of the phone line. UK based phone lines too. I highly recommend them. They are alot better than Halifax in my opinion.

I will look into this thanks

Thanks op x

Ta OP and voted hot.

I will update the current account switch incentive mega thread next week with this new offer:

hotukdeals.com/dea…867

evostick47

Did this last month. But you didn't need to set up any DD's like you've … Did this last month. But you didn't need to set up any DD's like you've said above. That condition was to receive the fiver per month.



The Halifax site says in order to get the £100, you need to Use the 'Current Account Switch Service' to transfer all the active credits and debits from the bank account that you hold with another bank and close this account.

Did you not have to do any of that?

Banned

thebritishbloke

What about if you've already received an incentive previously?


Never give up..keep trying..lolz

Def worth doing as per thread highlighted we already found our own deal but we now have 3 lloyds 4% on £5000 plus regular saver 4%, Santander 3% on 20k, 2 first direct £125 switch each from 'dummy accounts' of lloyds and santander, 2 x £125 off Yorkshire and 2% on £3k, 2 Halifax £100 each, 6 Tesco 3% on 3K, 2 x Nationwide at 5% on 2.5K, 6 Bank of scotland at 3% on 5K oh and just done 2 clydesdale for £150 each - ok you need to 'ping pong' as my wife calls it transfer money form one to the other to meet their requirement but hey we've made well over a thousand pounds for a little work and most of them we will close after there min terms - can't do it again for a couple of years but it pay for our hols and we still hve interest on the ordinary accounts way better than savings rates at the moment.........

Phew........


Edited by: "squaredoggy" 13th Feb 2015

Oh forgot the 4 x TSB at 5% on 2k

squaredoggy

Def worth doing as per thread highlighted we already found our own deal … Def worth doing as per thread highlighted we already found our own deal but we now have 3 lloyds 4% on £5000 plus regular saver 4%, Santander 3% on 20k, 2 first direct £125 switch each from 'dummy accounts' of lloyds and santander, 2 x £125 off Yorkshire and 2% on £3k, 2 Halifax £100 each, 6 Tesco 3% on 3K, 2 x Nationwide at 5% on 2.5K, 6 Bank of scotland at 3% on 5K oh and just done 2 clydesdale for £150 each - ok you need to 'ping pong' as my wife calls it transfer money form one to the other to meet their requirement but hey we've made well over a thousand pounds for a little work and most of them we will close after there min terms - can't do it again for a couple of years but it pay for our hols and we still hve interest on the ordinary accounts way better than savings rates at the moment.........Phew........


I admire anyone who can get anything out of the banks without resulting to a balaclava and a sawn off.

Bravo!

mccririck

Will they give me £125 to stay?

ask!

Banned

blimmey i=think i am gonna start this with bank accounts do it with energy ervery 8 weeks or so, lol

Might switch my never touched Natwest account over, don't even know why I opened it, so if I were to do this, would I just need to talk to Halfiax and they'll sort out the rest? Or do I also have to contact Natwest?

Oh, and are those phone numbers in the OP free? Cheers.
Edited by: "f2k8" 13th Feb 2015

If you want free money its likely to be a whole load of hassle, may be easier to book in extra shift at work tbh. All my accts with halifax anyway, not that there is a great deal in them, work to live and all that.
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