Halifax Rewards to be scrapped

Money, investing, mutuals etc
kevinchess1
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Re: Halifax Rewards to be scrapped

Post by kevinchess1 » Tue Sep 24, 2019 3:39 pm

Sarah wrote:
Tue Sep 24, 2019 2:30 am
Not really comparable, the odds of winning the jackpot are only 1 in 34 billion with Premium Bonds, however most holders enter every draw hundreds or thousands of times and you get your stake money back again afterwards:
https://www.which.co.uk/news/2018/04/fi ... ur-savings

Halifax savings account rates are pretty awful - either 0.55% to 0.70% fixed for 2 years or 0.20% easy access:
https://www.halifax.co.uk/savings/accounts/
>
There hasn't even been a thousand draws yet
Halifax have a regular saver, pays more than those rates you listed
MSE have a report on PB there opinion is there not worth it
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Sarah
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Re: Halifax Rewards to be scrapped

Post by Sarah » Tue Sep 24, 2019 4:20 pm

Halifax regular saver account isn't useful for entering their prize draw since you can't deposit £5K into it; to qualify you'll still need to supplement it with other accounts paying very low interest rates.

MSE opinion against Premium Bonds is somewhat based on the opportunity cost of not taking up a few better options (such as current accounts paying high interest rates), however if you've already used those options or wish to diversify then Premium Bonds become more interesting, especially for higher rate tax payers.
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rayf
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Re: Halifax Rewards to be scrapped

Post by rayf » Wed Oct 02, 2019 8:45 pm

kevinchess1 wrote:
Mon Sep 23, 2019 10:12 pm
rayf wrote:
Mon Sep 23, 2019 8:16 pm
Better to try the Premium Bonds - I havent done too badly on these. They pay out a certain percentage of the total pool as prizes. Not very high but there is always the chance of winning a million :thumbup: :thumbup:
More likely to win the National lottery
More likely (certain) to lose your stake :think:
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Re: Halifax Rewards to be scrapped

Post by blythburgh » Thu Oct 03, 2019 8:49 am

We bought our usual 2 £1 lotto scratchcards and won £7 this week. Not a usual week's result :lol:
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler

expressman33
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Re: Halifax Rewards to be scrapped

Post by expressman33 » Tue Jan 14, 2020 3:11 pm

Santander are cutting the 123 interest rate from 1.5% to 1.0% on 5/5/20 :thumbdown:
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Sarah
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Re: Halifax Rewards to be scrapped

Post by Sarah » Tue Jan 14, 2020 3:21 pm

expressman33 wrote:
Tue Jan 14, 2020 3:11 pm
Santander are cutting the 123 interest rate from 1.5% to 1.0% on 5/5/20 :thumbdown:
They're also introducing £5 per category limits on cashback and still going to charge the same £5/month fee! :thumbdown:

https://www.moneysavingexpert.com/news/ ... s---what-/

expressman33
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Re: Halifax Rewards to be scrapped

Post by expressman33 » Tue Jan 14, 2020 3:31 pm

Sarah wrote:
Tue Jan 14, 2020 3:21 pm
expressman33 wrote:
Tue Jan 14, 2020 3:11 pm
Santander are cutting the 123 interest rate from 1.5% to 1.0% on 5/5/20 :thumbdown:
They're also introducing £5 per category limits on cashback and still going to charge the same £5/month fee! :thumbdown:

https://www.moneysavingexpert.com/news/ ... s---what-/
Time to switch :thumbup:
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AAAlphaThunder
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Re: Halifax Rewards to be scrapped

Post by AAAlphaThunder » Tue Jan 14, 2020 3:33 pm

expressman33 wrote:
Tue Jan 14, 2020 3:31 pm
Sarah wrote:
Tue Jan 14, 2020 3:21 pm
expressman33 wrote:
Tue Jan 14, 2020 3:11 pm
Santander are cutting the 123 interest rate from 1.5% to 1.0% on 5/5/20 :thumbdown:
They're also introducing £5 per category limits on cashback and still going to charge the same £5/month fee! :thumbdown:

https://www.moneysavingexpert.com/news/ ... s---what-/
Time to switch :thumbup:
Indeed.
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parchedpeas
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Re: Halifax Rewards to be scrapped

Post by parchedpeas » Tue Jan 14, 2020 4:26 pm

Drop to the 123 lite account, you pay £1 but you keep the cashback element which should still return a few pennies each month, especially if you can overpay your utilities such as gas and electricity.
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planteria
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Re: Halifax Rewards to be scrapped

Post by planteria » Tue Jan 14, 2020 8:32 pm

i'm not with Santander, but if i was i'd be on the way out..
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