Halifax Rewards to be scrapped

Money, investing, mutuals etc
planteria
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Halifax Rewards to be scrapped

Post by planteria » Sat Sep 21 2019 7:22pm

the account is on the way out, cDecember.
the £5/m days were handy.. just £2/m nowadays, so not a huge loss, but still a shame.
apparently they are going to be offering something to 'reward loyalty' of account holders. we shall see.
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Sarah
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Re: Halifax Rewards to be scrapped

Post by Sarah » Sat Sep 21 2019 8:10pm

I wish that I'd switched more accounts to Santander earlier this year... fewer and fewer are worth keeping now!

Bring on the next big switch opportunity! :thumbup:
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Richard Frost
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Re: Halifax Rewards to be scrapped

Post by Richard Frost » Sat Sep 21 2019 8:37pm

Nationwide closed their rewards and scrapped interest a couple of months ago. I think banks are finding it very hard to make money from their current account business. I don't see anything really settling for a couple of years at the least. The UK is in for a rocky few years i'm sure.
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Re: Halifax Rewards to be scrapped

Post by kevinchess1 » Sat Sep 21 2019 11:16pm

Nationwide are still offer accounts with interest

https://www.nationwide.co.uk/products/c ... lsrc=aw.ds

TSB pay 3% up to 1500

Halifax have the monthly draw for cash prizes if you have over 5 Grand savings
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Re: Halifax Rewards to be scrapped

Post by Richard Frost » Sun Sep 22 2019 12:05am

Yes I misled slightly. They removed rewards a couple of months ago and are removing interest from their premium account from 1st November.

parchedpeas
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Re: Halifax Rewards to be scrapped

Post by parchedpeas » Sun Sep 22 2019 1:22am

Any links to Hfx decision?

Expected it after the closure on the premium account but still annoying. £72 a year lost. Boo.
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Re: Halifax Rewards to be scrapped

Post by AAAlphaThunder » Sun Sep 22 2019 2:13am

Good while it lasted.
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cccashbacklover
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Re: Halifax Rewards to be scrapped

Post by cccashbacklover » Sun Sep 22 2019 9:09am

parchedpeas wrote:
Sun Sep 22 2019 1:22am
Any links to Hfx decision?
Only announcement that I have seen relates to Halifax Ultimate account.

"will be axing this £2/mth discount from November and instead replacing it with a new feature known as Reward Extras, which lets customers 'earn' £5/mth if they meet strict new criteria"
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Re: Halifax Rewards to be scrapped

Post by blythburgh » Sun Sep 22 2019 9:25am

this is on there site:

A £2 monthly reward

Get £2 each month when throughout the previous calendar month you:

pay in £750 or more and;
pay out a minimum of 2 different direct debits and;
stay in credit.

If in any month you miss out on the £2 reward, don’t worry you'll still get free everyday banking, so long as you stay in credit.


I remember when it was £5 a mongh then it went down to £3 a month and only £300 had to be paid in. Now £2 and £750 has to be paid in.
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler

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Re: Halifax Rewards to be scrapped

Post by Sarah » Sun Sep 22 2019 10:08am

cccashbacklover wrote:
Sun Sep 22 2019 9:09am
parchedpeas wrote:
Sun Sep 22 2019 1:22am
Any links to Hfx decision?
Only announcement that I have seen relates to Halifax Ultimate account.
Not such a big deal for many of us then if it only affects the fee-based Ultimate Reward account, although those changes were announced last month and apply from November for existing customers. The original post refers to December, so perhaps any free Halifax Reward account announcement is lagging a month behind; alternatively December is the date that Ultimate Reward account changes apply to new customers.

https://www.moneysavingexpert.com/news/ ... d-account/

Halifax are still advertising the £2 reward for new Halifax Reward customers right now, with no mention of it coming to an end and no published revisions to T&Cs since February.

https://www.halifax.co.uk/bankaccounts/ ... nt-account
https://www.halifax.co.uk/bankaccounts/ ... efault.asp

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