Halifax Rewards to be scrapped

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

Post by planteria » Sun Apr 26, 2020 8:28 am

cccashbacklover wrote:
Sat Apr 25, 2020 9:54 am
I think those who are blessed with wisdom are intending to fund certain own savings account(s) by Halifax debit card minimum £500 per month, tests have shown that such a payment get itemised on Halifax account as "purchase"

Next question, which own accounts/savings accounts can be funded by DC :)

https://forums.moneysavingexpert.com/di ... ccounts/p1
interesting.. so with adding a layer of 'purchases' the game can roll on. not sure it's worth it - but will check out.

AAAlphaThunder
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Re: Halifax Rewards to be scrapped

Post by AAAlphaThunder » Sun Apr 26, 2020 10:00 am

planteria wrote:
Sun Apr 26, 2020 8:28 am
cccashbacklover wrote:
Sat Apr 25, 2020 9:54 am
I think those who are blessed with wisdom are intending to fund certain own savings account(s) by Halifax debit card minimum £500 per month, tests have shown that such a payment get itemised on Halifax account as "purchase"

Next question, which own accounts/savings accounts can be funded by DC :)

https://forums.moneysavingexpert.com/di ... ccounts/p1
interesting.. so with adding a layer of 'purchases' the game can roll on. not sure it's worth it - but will check out.
Not as lucrative as it once was.
[Secretary] imutual Cashback Investment Club

cccashbacklover
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Re: Halifax Rewards to be scrapped

Post by cccashbacklover » Sun Apr 26, 2020 10:22 am

AAAlphaThunder wrote:
Sun Apr 26, 2020 10:00 am


Not as lucrative as it once was.
£3.00 a month more than it is now just for example making a £500 payment to own Yorkshire BS Internet saver or Post Office Online Saver each month and then bouncing the money back to another account after it has cleared and funding Halifax account with £1500 per month.
Last edited by cccashbacklover on Mon May 18, 2020 3:46 pm, edited 1 time in total.

Sarah
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Re: Halifax Rewards to be scrapped

Post by Sarah » Tue May 05, 2020 8:30 am

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:
This change takes effect today. Just seen on the website they're also cutting the rate again to 0.60% on 3/8/20! :roll:

https://www.santander.co.uk/personal/cu ... nt-account

I'll be downgrading from Santander Select to 123 Lite once my next interest payment has been credited. That account pays no interest but has lower £1 monthly fee.
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planteria
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Re: Halifax Rewards to be scrapped

Post by planteria » Tue May 05, 2020 9:19 am

is there not an account with Santander that doesn't attract a fee?

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Re: Halifax Rewards to be scrapped

Post by Sarah » Tue May 05, 2020 9:37 am

planteria wrote:
Tue May 05, 2020 9:19 am
is there not an account with Santander that doesn't attract a fee?
Yes, the Everyday Current Account has no fee but also doesn't have any interesting benefits. The 123 Lite account pays cashback on bills that can more than offset the fee, so still a worthwhile option.

https://www.santander.co.uk/personal/cu ... nt-account
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rayf
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Re: Halifax Rewards to be scrapped

Post by rayf » Tue May 05, 2020 11:58 am

Are there any new accounts that are offering £100 or so to transfer to? Or any accounts that are worth having at the moment?

expressman33
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Re: Halifax Rewards to be scrapped

Post by expressman33 » Tue May 05, 2020 6:15 pm

Sarah wrote:
Tue May 05, 2020 9:37 am
planteria wrote:
Tue May 05, 2020 9:19 am
is there not an account with Santander that doesn't attract a fee?
Yes, the Everyday Current Account has no fee but also doesn't have any interesting benefits. The 123 Lite account pays cashback on bills that can more than offset the fee, so still a worthwhile option.

https://www.santander.co.uk/personal/cu ... nt-account
Do you have to wait until you get current months interest before switching from a 123 a/c to 123 lite ?

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Re: Halifax Rewards to be scrapped

Post by Sarah » Tue May 05, 2020 7:18 pm

I don't know for sure, however the last time I asked Santander a similarly critical question about dates, they gave me an incorrect answer. Therefore I'm not inclined to ask and trust their answer, so will await my interest, which is due in 2 days time.

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Re: Halifax Rewards to be scrapped

Post by Sarah » Tue May 05, 2020 11:52 pm

MSE are strongly advising to ditch Santander 123 in a new article... the customer support lines are going to be busy!

https://www.moneysavingexpert.com/news/ ... n-to-0-6-/

They also say that transfers can be made online using this application form:

https://www.santander.co.uk/personal/cu ... nt-account

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