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Re: Halifax Rewards to be scrapped

Posted: Sun Sep 22, 2019 1:30 pm
by planteria
kevinchess1 wrote:
Sat Sep 21, 2019 11:16 pm
Halifax have the monthly draw for cash prizes if you have over 5 Grand savings
saved at what best rate?

Re: Halifax Rewards to be scrapped

Posted: Sun Sep 22, 2019 1:35 pm
by planteria
Sarah wrote:
Sun Sep 22, 2019 10:08 am
Not such a big deal for many of us then if it only affects the fee-based Ultimate Reward account,..
i've been told that the changes will apply to Reward, further to those affecting Ultimate Reward.

Re: Halifax Rewards to be scrapped

Posted: Sun Sep 22, 2019 2:38 pm
by kevinchess1
planteria wrote:
Sun Sep 22, 2019 1:30 pm
kevinchess1 wrote:
Sat Sep 21, 2019 11:16 pm
Halifax have the monthly draw for cash prizes if you have over 5 Grand savings
saved at what best rate?
Don’t matter
Any money in all savings account counts

Re: Halifax Rewards to be scrapped

Posted: Mon Sep 23, 2019 10:18 am
by planteria
it matters to a saver that wants a return.. my question is: what rate can we achieve with Halifax, whilst giving us the chance of a prize on top?

Re: Halifax Rewards to be scrapped

Posted: Mon Sep 23, 2019 10:58 am
by blythburgh
Prize is unlikely so best savings rate is one to go for

Re: Halifax Rewards to be scrapped

Posted: Mon Sep 23, 2019 8:16 pm
by rayf
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:

Re: Halifax Rewards to be scrapped

Posted: Mon Sep 23, 2019 8:30 pm
by planteria
yes, i'm into PBs and Midlands Co-ops for cash, and ISAs and Pensions for 'risk assets'.

Re: Halifax Rewards to be scrapped

Posted: Mon Sep 23, 2019 10:12 pm
by kevinchess1
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

Re: Halifax Rewards to be scrapped

Posted: Tue Sep 24, 2019 2:30 am
by Sarah
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/

Re: Halifax Rewards to be scrapped

Posted: Tue Sep 24, 2019 8:31 am
by planteria
so 0.7%.. awful, i agree. 2-5% or i don't bother, unless there is another good reason, including, as above, re PBs.
you're right though: we play the lottery, but PBs and a Halifax account with a chance of a prize do offer the key feature that they give you your money back afterwards :)