Halifax Rewards to be scrapped

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

Post by planteria » 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?
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Re: Halifax Rewards to be scrapped

Post by planteria » Sun Sep 22, 2019 1:35 pm

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.
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Re: Halifax Rewards to be scrapped

Post by kevinchess1 » Sun Sep 22, 2019 2:38 pm

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
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Re: Halifax Rewards to be scrapped

Post by planteria » Mon Sep 23, 2019 10:18 am

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?
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Re: Halifax Rewards to be scrapped

Post by blythburgh » Mon Sep 23, 2019 10:58 am

Prize is unlikely so best savings rate is one to go for
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Re: Halifax Rewards to be scrapped

Post by rayf » 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:

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Re: Halifax Rewards to be scrapped

Post by planteria » Mon Sep 23, 2019 8:30 pm

yes, i'm into PBs and Midlands Co-ops for cash, and ISAs and Pensions for 'risk assets'.

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Re: Halifax Rewards to be scrapped

Post by kevinchess1 » 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
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Re: Halifax Rewards to be scrapped

Post by Sarah » 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/
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Re: Halifax Rewards to be scrapped

Post by planteria » Tue Sep 24, 2019 8:31 am

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 :)

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