Halifax Rewards to be scrapped

Money, investing, mutuals etc
blythburgh
Posts: 17737
Joined: Tue Jun 29 2010 7:14pm
Location: The Far East
Has thanked: 35005 times
Been thanked: 6106 times
Contact:

Re: Halifax Rewards to be scrapped

Post by blythburgh » Wed Jan 15 2020 9:35am

Could all be down to the new overdraft rules. Makes it harder for banks to make money from them but a huge help for people who through no fault of their own end up with an overdraft.
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler

parchedpeas
Posts: 410
Joined: Tue Jun 29 2010 1:34pm
Has thanked: 200 times
Been thanked: 460 times
Contact:

Re: Halifax Rewards to be scrapped

Post by parchedpeas » Wed Jan 15 2020 10:29am

Competition in the banking market is almost dead, now. TSB will be the next ones to drop their 3% current account - what's the point in them being SO far ahead of the rest? 1.5% would be enough to keep people on board.

A shame, because it was good while it lasted, but at least it might mean I can get rid of a chunk of my 20 bank accounts and 25 credit cards!
Thanked by: blythburgh

planteria
Posts: 6361
Joined: Tue Nov 23 2010 4:52pm
Location: England
Has thanked: 702 times
Been thanked: 1670 times
Contact:

Re: Halifax Rewards to be scrapped

Post by planteria » Wed Jan 15 2020 10:42am

parchedpeas wrote:
Wed Jan 15 2020 10:29am
Competition in the banking market is almost dead, now. TSB will be the next ones to drop their 3% current account - what's the point in them being SO far ahead of the rest? 1.5% would be enough to keep people on board.
i agree. fwiw i'd probably not leave £1540 in my account each month [the £40 to cover DDs], but overall the existing customer base would accept the drop. that said, i don't know how useful the 3% would be deemed in terms of enticing new customers across.
parchedpeas wrote:
Wed Jan 15 2020 10:29am
A shame, because it was good while it lasted, but at least it might mean I can get rid of a chunk of my 20 bank accounts and 25 credit cards!
that's quite a haul. i maxed at 24. currently 10 & 4. if there was a good incentive and ability to transfer, i'd move 4 of my 10 current accounts.
Thanked by: blythburgh

rayf
Posts: 1806
Joined: Fri Nov 12 2010 8:50pm
Has thanked: 530 times
Been thanked: 799 times
Contact:

Re: Halifax Rewards to be scrapped

Post by rayf » Wed Jan 15 2020 12:58pm

planteria wrote:
Tue Jan 14 2020 8:32pm
i'm not with Santander, but if i was i'd be on the way out..
I am and I am ;)
Thanked by: blythburgh

Luke_PieStalker
Posts: 2136
Joined: Tue Jul 06 2010 3:25pm
Has thanked: 577 times
Been thanked: 1415 times
Contact:

Re: Halifax Rewards to be scrapped

Post by Luke_PieStalker » Wed Jan 15 2020 6:00pm

Savings rates are abysmal across the board, it suits the banks so i dont know when it will change. 10 years and counting?

Might as well invest your money in frozen pork pies and mushy pies.
Thanked by: blythburgh

planteria
Posts: 6361
Joined: Tue Nov 23 2010 4:52pm
Location: England
Has thanked: 702 times
Been thanked: 1670 times
Contact:

Re: Halifax Rewards to be scrapped

Post by planteria » Thu Jan 16 2020 12:55am

I see ii are offering up to 2.25%, and I’m getting similar from one of my local Co-ops.
We need to be looking outside the normal sphere to get anything useful from cash nowadays, especially with the demise of good rates from regular savers.
Thanked by: blythburgh, parchedpeas

blythburgh
Posts: 17737
Joined: Tue Jun 29 2010 7:14pm
Location: The Far East
Has thanked: 35005 times
Been thanked: 6106 times
Contact:

Re: Halifax Rewards to be scrapped

Post by blythburgh » Thu Jan 16 2020 8:53am

Luke_PieStalker wrote:
Wed Jan 15 2020 6:00pm
Savings rates are abysmal across the board, it suits the banks so i dont know when it will change. 10 years and counting?

Might as well invest your money in frozen pork pies and mushy pies.
Maybe when the Bank of England has interest rates far higher than at present and I cannot see that happening for quite a while.
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler

blythburgh
Posts: 17737
Joined: Tue Jun 29 2010 7:14pm
Location: The Far East
Has thanked: 35005 times
Been thanked: 6106 times
Contact:

Re: Halifax Rewards to be scrapped

Post by blythburgh » Thu Jan 16 2020 8:58am

planteria wrote:
Thu Jan 16 2020 12:55am
I see ii are offering up to 2.25%, and I’m getting similar from one of my local Co-ops.
We need to be looking outside the normal sphere to get anything useful from cash nowadays, especially with the demise of good rates from regular savers.
I can buy from my nearest Central England Co-op stores and get 1% cashback which is not available instantly.

If I go to the next village or a nearby town I can get 1% on branded goods and 5% on Co-op branded goods and the money is available for me to have off my next shop. I tend to do my Co-op shopping at the nationally owned ones and stock up on stuff like coffee when I am in the village/town with the "right" Co-op Store.

Better rate of return at both types of Co-op than I most savings accounts
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler

cccashbacklover
Posts: 2078
Joined: Mon Jul 05 2010 9:55pm
Has thanked: 1195 times
Been thanked: 1266 times
Contact:

Re: Halifax Rewards to be scrapped

Post by cccashbacklover » Thu Jan 16 2020 8:59am

Ironic that both Halifax Rewards £2.00 per month and this thread both live on.
Thanked by: blythburgh

BeautifulSunshine
Posts: 26721
Joined: Tue Sep 14 2010 8:23pm
Location: [The Finest City in the World: London]
Has thanked: 192 times
Been thanked: 3686 times
Contact:

Re: Halifax Rewards to be scrapped

Post by BeautifulSunshine » Thu Jan 16 2020 9:33am

planteria wrote:
Thu Jan 16 2020 12:55am
I see ii are offering up to 2.25%, and I’m getting similar from one of my local Co-ops.
We need to be looking outside the normal sphere to get anything useful from cash nowadays, especially with the demise of good rates from regular savers.
It was a bygone era you could make double-digit profit from your saving.
[imutual Cashback Investment Club]

Post Reply

Who is online

Users browsing this forum: No registered users and 25 guests