Halifax £100 for almost nothing!

So not sure if this has been discussed recently but Halifax has recently opened a new deal where one can get £100 for a few hoops to jump through but in essence for anyone who has another current account not working for them and is prepared to set up a hfx reward account then it is possible to get better than 2.5% for very little work.

Have a look at the link there is a long forum on MSE too - I've started things rolling for Mrs Aju and myself this morning opening up accounts and switching  a couple of spare accounts.

I'm preparing to use £1500 to push back and forth  with each of our accounts so we don't pay the £3 monthly fee that's the way to get the £100. I could just bow out what seems fairly quickly and take the £100. That would effectively get  6.6% (if I left it there for a year rotating but way better as some people are saying the reward comes fairly quickly) 

There are rewards where If I put £5000 into the account and keep at lest 5000 for every day for a year then I will get £5 (£6.25 for non tax payers like Mrs Aju) even mine has reduced quite a bit now that I've put a lot of reinvest into Mrs Aju's account and the rates have plummeted.

So the £5000 with £5(6.25) reward can get (1.2%) or 1.5% to mitigate the fee I need to have 6500 so I don't touch the 5000 as going under will make the £5 void for any month when that happens. So assuming I get £6.25+£5 month and have 6500 in the account then that's 2.07%. I think I got that right. Sadly its not compounding but I could mover the monthlies back to my next best invest-able simple account which by then will be Marcus @ at a paltry 1.05% after the end of August. 

One thing to watch out for if you are interested is don;t set up the £5/£6.25 for £5000 until you are cleared and have put £5000 into the account as it seems if you miss even one day of having 5000 in the account then it will lose the £5 for that month.

Sorry if that's not quite extensive as I say there are a lot of references to it elsewhere and there are you have until 14 Sep to have completed the new account and started the transfer. The rewards request can be done anytime. 

Anyway hope that helps anyone wishing to get free money without too many onerous hurdles, not sure how long it might last as it seems to be gaining a lot of web traffic on MSE anyway.  

Edit: Added a link to MSE as well in text (I wish I could type too! 

Edit2: There are other ways to get the £5 than the £5000 but there are no ways round the 1500 £3 fee as far as O can tell.