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Halifax bank account. £100 + £5 a month just for switching accounts!!
Halifax bank account. £100 + £5 a month just for switching accounts!!

Halifax bank account. £100 + £5 a month just for switching accounts!!

Was in my local halifax branch today (doncaster) to pay a bill but was then offered £100 up front for switching my main bank account to them and the extra £5 a month they promise in the adverts.

they told me it was only until monday then itwould go back to normal

not sure if it just local or nationwide but worth checking out.

18 Comments

Do you have any detail, how to be qualify for the reward?

"Only until Monday"... so that is tomorrow (and possibly Saturday in some branches).

Unless the deal does explicitly expire on 1 June 2010 that sounds like a sales tactic.

BFN,

fp.

PS. From the Halifax.co.uk site:

]Reward Current Account
---
An important note…

This payment is 'net' of income tax. This means we pay it after taking off income tax at the rate set by law (currently 20%). If you are a higher-rate taxpayer, you may have to pay extra income tax on the reward payment. The gross amount is £6.25. This is the amount before we take off income tax. You may reclaim tax from HM Revenue & Customs if the amount of tax we have taken off is more than you have to pay. To find out more visit [url]www.hmrc.gov.uk/incometax[/url]. The £5 monthly reward payment will be paid into your account before the 10th of each month. If we have a valid reason, we can choose not to charge a fee which you would otherwise have to pay. Halifax current accounts and services are offered subject to status overdrafts are repayable on demand. EAR is the equivalent annual rate. This is the actual annual cost of an overdraft. This does not take into account any fees or charges. If you have an arranged or unarranged overdraft, your statements will show the amount of fees we will take from your account at the end of the month.
---

BFN,

fp.

ro888;8705862

Do you have any detail, how to be qualify for the reward?



You "how to be qualify" thus:

halifax.co.uk

We'll give you £5 each month you pay in £1,000, whether you're in credit o … We'll give you £5 each month you pay in £1,000, whether you're in credit or overdrawn.



Plus...

halifax.co.uk

All you need to do is:1. ]Apply online now for the Reward Current … All you need to do is:1. ]Apply online now for the Reward Current Account2. Complete the ‘Switching details’ section in the application3. Leave the rest to us – our Switching Team will be in touch to confirm your details.Your account transfer should all be taken care of within 28 days provided there are no unexpected delays. Plus we’ll give you a fee-free overdraft for 120 days to help you just in case.



BFN,

fp.

rubbish deal - so you get £5 each month you pay £1000 paid in - thats £60/year for £12000 paid in.....that equates to 0.5% interest lol....frozen awful deal

even with the £100 extra its £160 for the year which equates to 1.5% for £12000 paid in...my chickens could get a better deal

Banned

royals;8705916

rubbish deal - so you get £5 each month you pay £1000 paid in - thats £ … rubbish deal - so you get £5 each month you pay £1000 paid in - thats £60/year for £12000 paid in.....that equates to 0.5% interest lol....frozen awful deal



So which current account pays better?

royals;8705916

even with the £100 extra its £160 for the year which equates to 1.5% for £ … even with the £100 extra its £160 for the year which equates to 1.5% for £12000 paid in...my chickens could get a better deal



where?

royals;8705916

rubbish deal - so you get £5 each month you pay £1000 paid in - thats £ … rubbish deal - so you get £5 each month you pay £1000 paid in - thats £60/year for £12000 paid in.....that equates to 0.5% interest lol....frozen awful deal



(You missed the original £100 incentive in your figures)

Is there a stipulation to say you cannot take the money out, put it back in, or shake it all about during the month?

I just read the offer as you have to pay £1,000 in. There was no mention of it being there all month.

In fact, you could move the same £1,000 around every month, or just have your salary paid into the newly created Halifax account before moving it on again to your account of choice.

Of course, following the sign-up process may show more terms & conditions.

BFN,

fp.

fanpages;8705963

(You missed the original £100 incentive in your figures)Is there a … (You missed the original £100 incentive in your figures)Is there a stipulation to say you cannot take the money out, put it back in, or shake it all about during the month?I just read the offer as you have to pay £1,000 in. There was no mention of it being there all month.In fact, you could move the same £1,000 around every month, or just have your salary paid into the newly created Halifax account before moving it on again to your account of choice.Of course, following the sign-up process may show more terms & conditions.BFN,fp.



You can do whatever you want with the £1000, provided £1000 is paid in you get £5 on the first working day of the following month. I have it set up to transfer the £1000 between this account and an AA saver account at 2.8% with unlimited withdrawals. Its all about making the most out of the money

Banned

probably the worst customer service I have ever encountered (100+ bank accounts)

A&L/Santander came a close 1st lol

I'm guessing you have to earn £1000+ and pay into the account for 3 months and switch all your DDs over. It would have to be £500 for me to go through the hassle of messing with these shysters again.

Banned

stevebl;8706014

You can do whatever you want with the £1000, provided £1000 is paid in y … You can do whatever you want with the £1000, provided £1000 is paid in you get £5 on the first working day of the following month. I have it set up to transfer the £1000 between this account and an AA saver account at 2.8% with unlimited withdrawals. Its all about making the most out of the money



thats roughly what I do - £1000 into the halifax then back out the next day for the free fiver.
waiting for royals to tell us how we can do better though - free money's free money :thumbsup::thumbsup:

sounds good...but any idea how you go about getting the 100 squid?

Just on the blower to them and there isn't 100 quid cash....

Ad arm;8706861

sounds good...but any idea how you go about getting the 100 squid?Just on … sounds good...but any idea how you go about getting the 100 squid?Just on the blower to them and there isn't 100 quid cash....



What do you get 100 quid of then? iTunes vouchers?

BFN,

fp.

Takes me 10 min to cycle 1 k through my 3 and my wife four accounts and back to my high interest account without losing even one days interest so 12 times 5 mins work for £420 a year - to anyone who thinks this is a bad deal I'd love to be on your hourly rate...

I'll be on the lookout for an extra couple of hundred for switching too, thanks OP

this is the biggest con ever - you only get the £5 a month if you have a Reward Current Account, which costs................£12 a month!
I'd give you a fiver myself every month of you were gonna give me £12!
It sounds great on the adverts, but then that's advertising for you - never highlighting the slight 'catch'.

Big 'L' I'm afraid - standard Reward Current Account has no fees if you do not go overdrawn.

frugl4life;8710475

this is the biggest con ever - you only get the £5 a month if you have a … this is the biggest con ever - you only get the £5 a month if you have a Reward Current Account, which costs................£12 a month!I'd give you a fiver myself every month of you were gonna give me £12!It sounds great on the adverts, but then that's advertising for you - never highlighting the slight 'catch'.

Original Poster

u get £5 a month on a reward account that costs nothing!!
ultimatereward costs £12.50 a month

ashgawa1011;8714182

u get £5 a month on a reward account that costs nothing!!ultimatereward … u get £5 a month on a reward account that costs nothing!!ultimatereward costs £12.50 a month



You are right mate....
And the £1000, TBH needs to be in the account only for one day... you deposit on any day of the month and withdraw it in 2 or 3 days. Thats perfectly ok with the Reward account. You can use the same £1000 to deposit in it every month.

And for Halifax/HBOS employees, it is just £250. So if you are an employee of HBOS, then you just need to deposit £250 in order to get the £5.
Hope this helps. :thumbsup:

Doesn't need to be in overnight you can faster payments in and out again within 30 seconds if you want

deathlord;8714256

You are right mate....And the £1000, TBH needs to be in the account only … You are right mate....And the £1000, TBH needs to be in the account only for one day... you deposit on any day of the month and withdraw it in 2 or 3 days. Thats perfectly ok with the Reward account. You can use the same £1000 to deposit in it every month.And for Halifax/HBOS employees, it is just £250. So if you are an employee of HBOS, then you just need to deposit £250 in order to get the £5.Hope this helps. :thumbsup:

Banned

It could be 5 strippers a month and I wouldn't go back to HBOS
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