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Re: Halifax Rewards to be scrapped

Posted: Tue Sep 24, 2019 3:39 pm
by kevinchess1
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

Re: Halifax Rewards to be scrapped

Posted: Tue Sep 24, 2019 4:20 pm
by Sarah
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.

Re: Halifax Rewards to be scrapped

Posted: Wed Oct 02, 2019 8:45 pm
by rayf
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:

Re: Halifax Rewards to be scrapped

Posted: Thu Oct 03, 2019 8:49 am
by blythburgh
We bought our usual 2 £1 lotto scratchcards and won £7 this week. Not a usual week's result :lol:

Re: Halifax Rewards to be scrapped

Posted: Tue Jan 14, 2020 3:11 pm
by expressman33
Santander are cutting the 123 interest rate from 1.5% to 1.0% on 5/5/20 :thumbdown:

Re: Halifax Rewards to be scrapped

Posted: Tue Jan 14, 2020 3:21 pm
by Sarah
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-/

Re: Halifax Rewards to be scrapped

Posted: Tue Jan 14, 2020 3:31 pm
by expressman33
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:

Re: Halifax Rewards to be scrapped

Posted: Tue Jan 14, 2020 3:33 pm
by AAAlphaThunder
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.

Re: Halifax Rewards to be scrapped

Posted: Tue Jan 14, 2020 4:26 pm
by parchedpeas
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.

Re: Halifax Rewards to be scrapped

Posted: Tue Jan 14, 2020 8:32 pm
by planteria
i'm not with Santander, but if i was i'd be on the way out..