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Post by df on Aug 15, 2020 20:27:26 GMT
I did it all in one go - application, rewards, switch, initial 5k and 'in&out" £1500 SO's from September. Did the same for my Mrs - this was even easier, just upgraded her current account and switched her dormant Nationwide. Indeed the beauty of this offer is - no DD requirement. It's the second time I'm getting £100 bonus from Halifax + bonus for switching from Halifax to another bank (can't remember which one). In-out-in...  I've never had DD requirement from Tescos. I think it's because I've opened the accounts as soon as the product went live, they've tightened up the conditions later. I too was fortunate to not have needed dd's with my Tesco current a/c, Mrs Aju does still though. The Tesco savings account was useful for dd's needed by other banks though until they pulled that facility a while back now. With my experiments I guess i was trying to be too clever by half with setting things up. I was not sure if I wanted to commit too deeply - suspicious of the dirty tricks some banks seem to play at times. That said Hfx did pay a lot of money to a lot of people like us that play the system to get the largest benefit for minimal cost. TSB is the only other bank where we get benefits but they are pairing down - rates wise too. I wonder though now that HFX are doing this, how long it will be that other banks will need to factor their customer losses. There is an interesting chart in the which regarding banks losses and gains since the pandemic started. Edit: I forgot Virgin Money too @ 2.0% for £1000, we have 3 of those for 12 months initially, no hoops needed. I've never experienced any 'dirty tricks' from banks. The only trick is that most people open an account, put their salaries and bills there and forget about it, plus might buy some other products from the bank. I don't think there are many of us who take a good advantage of their competition. Virgin current account is the leading one atm, but only 1k per account unfortunately. I've got 4 of them and also have four savings accounts (not linked to current accounts), 38.5k in total in Virgin earning somewhere around 1.9%. I'm still taking advantage from TSB - 4 current accounts and one reg saver. 1.5% is a very good rate at this time. Since they first offered interest on current accounts, they've been very competitive (I've never had to empty or close any of my TSB accounts). Have you ever taken advantage of Barclays Blue Rewards?
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aju
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Post by aju on Aug 15, 2020 22:01:30 GMT
I too was fortunate to not have needed dd's with my Tesco current a/c, Mrs Aju does still though. The Tesco savings account was useful for dd's needed by other banks though until they pulled that facility a while back now. With my experiments I guess i was trying to be too clever by half with setting things up. I was not sure if I wanted to commit too deeply - suspicious of the dirty tricks some banks seem to play at times. That said Hfx did pay a lot of money to a lot of people like us that play the system to get the largest benefit for minimal cost. TSB is the only other bank where we get benefits but they are pairing down - rates wise too. I wonder though now that HFX are doing this, how long it will be that other banks will need to factor their customer losses. There is an interesting chart in the which regarding banks losses and gains since the pandemic started. Edit: I forgot Virgin Money too @ 2.0% for £1000, we have 3 of those for 12 months initially, no hoops needed. I've never experienced any 'dirty tricks' from banks. The only trick is that most people open an account, put their salaries and bills there and forget about it, plus might buy some other products from the bank. I don't think there are many of us who take a good advantage of their competition. Virgin current account is the leading one atm, but only 1k per account unfortunately. I've got 4 of them and also have four savings accounts (not linked to current accounts), 38.5k in total in Virgin earning somewhere around 1.9%. I'm still taking advantage from TSB - 4 current accounts and one reg saver. 1.5% is a very good rate at this time. Since they first offered interest on current accounts, they've been very competitive (I've never had to empty or close any of my TSB accounts). Have you ever taken advantage of Barclays Blue Rewards? There are less and less hidden items now than there used to be but to be honest I'm not sure the recent experience I had with Hfx as described above was particularly fair with the 1500 pay in cancelled once the reward was set up. Ok ultimately I was not caught out by it as I have always given myself plenty of time to check that things are what they seem. I do always tend to look at why the banks are throwing this money at me and what is their motive beyond selling other products. Also since most banks IT is at best culpable its not beyond the realms of them cocking it up but not actually knowing it, although that does have certain advantages for gaining when they would rather pay compo than go through a long pain of dealing with someone like me with time on my hands to make life difficult.  Virgin as you say is is a good one, not sure how you have four though as the rules distinctly said 1 personal and 1 joint was the max when we came on board - very recently though. Many would pass it up though as its only a £1000 that is effective. We too have 4 account 2 each, the reg saver at 1.5% is ok we have some of those at 2% elsewhere though and we feed in from other interest bearing accounts so as to optimise the returns. I checked out the barclays after your comment but as soon as I saw dd's I backed off. should probably revisit for a more careful look and check out our DD's situation - I think we may have some scope for moving Mrs aju's tescos ones now that their rate is worse than useless. Thx for the pointers
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Post by Harland Kearney on Aug 15, 2020 23:54:52 GMT
I too was fortunate to not have needed dd's with my Tesco current a/c, Mrs Aju does still though. The Tesco savings account was useful for dd's needed by other banks though until they pulled that facility a while back now. With my experiments I guess i was trying to be too clever by half with setting things up. I was not sure if I wanted to commit too deeply - suspicious of the dirty tricks some banks seem to play at times. That said Hfx did pay a lot of money to a lot of people like us that play the system to get the largest benefit for minimal cost. TSB is the only other bank where we get benefits but they are pairing down - rates wise too. I wonder though now that HFX are doing this, how long it will be that other banks will need to factor their customer losses. There is an interesting chart in the which regarding banks losses and gains since the pandemic started. Edit: I forgot Virgin Money too @ 2.0% for £1000, we have 3 of those for 12 months initially, no hoops needed. I've never experienced any 'dirty tricks' from banks. The only trick is that most people open an account, put their salaries and bills there and forget about it, plus might buy some other products from the bank. I don't think there are many of us who take a good advantage of their competition. Virgin current account is the leading one atm, but only 1k per account unfortunately. I've got 4 of them and also have four savings accounts (not linked to current accounts), 38.5k in total in Virgin earning somewhere around 1.9%. I'm still taking advantage from TSB - 4 current accounts and one reg saver. 1.5% is a very good rate at this time. Since they first offered interest on current accounts, they've been very competitive (I've never had to empty or close any of my TSB accounts). Have you ever taken advantage of Barclays Blue Rewards? Didn't know about the virgin offer, thanks for the heads up. Always looking for good rates to put EMG cash & investment overflow now days.
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Post by df on Aug 16, 2020 17:20:05 GMT
I've never experienced any 'dirty tricks' from banks. The only trick is that most people open an account, put their salaries and bills there and forget about it, plus might buy some other products from the bank. I don't think there are many of us who take a good advantage of their competition. Virgin current account is the leading one atm, but only 1k per account unfortunately. I've got 4 of them and also have four savings accounts (not linked to current accounts), 38.5k in total in Virgin earning somewhere around 1.9%. I'm still taking advantage from TSB - 4 current accounts and one reg saver. 1.5% is a very good rate at this time. Since they first offered interest on current accounts, they've been very competitive (I've never had to empty or close any of my TSB accounts). Have you ever taken advantage of Barclays Blue Rewards? There are less and less hidden items now than there used to be but to be honest I'm not sure the recent experience I had with Hfx as described above was particularly fair with the 1500 pay in cancelled once the reward was set up. Ok ultimately I was not caught out by it as I have always given myself plenty of time to check that things are what they seem. I do always tend to look at why the banks are throwing this money at me and what is their motive beyond selling other products. Also since most banks IT is at best culpable its not beyond the realms of them cocking it up but not actually knowing it, although that does have certain advantages for gaining when they would rather pay compo than go through a long pain of dealing with someone like me with time on my hands to make life difficult. Virgin as you say is is a good one, not sure how you have four though as the rules distinctly said 1 personal and 1 joint was the max when we came on board - very recently though. Many would pass it up though as its only a £1000 that is effective. We too have 4 account 2 each, the reg saver at 1.5% is ok we have some of those at 2% elsewhere though and we feed in from other interest bearing accounts so as to optimise the returns. I checked out the barclays after your comment but as soon as I saw dd's I backed off. should probably revisit for a more careful look and check out our DD's situation - I think we may have some scope for moving Mrs aju's tescos ones now that their rate is worse than useless. Thx for the pointers Somebody in another thread said that they have 6.... When I opened the first one and logged in I was surprised to see that I have 2 - the extra account was my old B from Clydesdale (I opened it about 4 years ago for £250 bonus and it stayed dormant since) renamed into Virgin. The other 2 (single+joint) I've opened from Yorkshire - although Yorkshire and Clydesdale have merged few years ago they still act like separate banks (i.e. don't recognise you as the existing customer and sort codes are different). DD's. You've probably already explored all of them, but just in case you've missed some - savings accounts from Birmingham Midshires and Post Office offer DD's. I also used to use RS in the past when I needed more DD's.
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aju
Member of DD Central
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Post by aju on Aug 16, 2020 17:32:04 GMT
There are less and less hidden items now than there used to be but to be honest I'm not sure the recent experience I had with Hfx as described above was particularly fair with the 1500 pay in cancelled once the reward was set up. Ok ultimately I was not caught out by it as I have always given myself plenty of time to check that things are what they seem. I do always tend to look at why the banks are throwing this money at me and what is their motive beyond selling other products. Also since most banks IT is at best culpable its not beyond the realms of them cocking it up but not actually knowing it, although that does have certain advantages for gaining when they would rather pay compo than go through a long pain of dealing with someone like me with time on my hands to make life difficult. Virgin as you say is is a good one, not sure how you have four though as the rules distinctly said 1 personal and 1 joint was the max when we came on board - very recently though. Many would pass it up though as its only a £1000 that is effective. We too have 4 account 2 each, the reg saver at 1.5% is ok we have some of those at 2% elsewhere though and we feed in from other interest bearing accounts so as to optimise the returns. I checked out the barclays after your comment but as soon as I saw dd's I backed off. should probably revisit for a more careful look and check out our DD's situation - I think we may have some scope for moving Mrs aju's tescos ones now that their rate is worse than useless. Thx for the pointers Somebody in another thread said that they have 6.... When I opened the first one and logged in I was surprised to see that I have 2 - the extra account was my old B from Clydesdale (I opened it about 4 years ago for £250 bonus and it stayed dormant since) renamed into Virgin. The other 2 (single+joint) I've opened from Yorkshire - although Yorkshire and Clydesdale have merged few years ago they still act like separate banks (i.e. don't recognise you as the existing customer and sort codes are different). DD's. You've probably already explored all of them, but just in case you've missed some - savings accounts from Birmingham Midshires and Post Office offer DD's. I also used to use RS in the past when I needed more DD's.We used to have 6 in Hfx back in the day mind you that was 3, you comments about DD's is interesting though. We nearly had a PO account for that reason but decided it wasn't worth the hassle a the time. Never thought about usng RS or Zopa (I don't know if it works there) mind you we are removing not lending but thanks anyway. 
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Post by df on Aug 16, 2020 18:09:34 GMT
Somebody in another thread said that they have 6.... When I opened the first one and logged in I was surprised to see that I have 2 - the extra account was my old B from Clydesdale (I opened it about 4 years ago for £250 bonus and it stayed dormant since) renamed into Virgin. The other 2 (single+joint) I've opened from Yorkshire - although Yorkshire and Clydesdale have merged few years ago they still act like separate banks (i.e. don't recognise you as the existing customer and sort codes are different). DD's. You've probably already explored all of them, but just in case you've missed some - savings accounts from Birmingham Midshires and Post Office offer DD's. I also used to use RS in the past when I needed more DD's.We used to have 6 in Hfx back in the day mind you that was 3, you comments about DD's is interesting though. We nearly had a PO account for that reason but decided it wasn't worth the hassle a the time. Never thought about usng RS or Zopa (I don't know if it works there) mind you we are removing not lending but thanks anyway. No, I don't think Zopa does it anymore. I'm not really following RS changes in the past few months, but when I used their DD facility I've set the rate high so this money don't get invested.
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aju
Member of DD Central
Posts: 3,500
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Post by aju on Aug 17, 2020 9:40:29 GMT
Note:
Don't forget, for anyone using the Hfx £5000 £5/mth option, that for non tax payers this equates to £75 not £60 a year but you do need to make sure you claim it back from the tax office if you are a non tax payer or you still have some allowance left from the £1000 savings allowance. (Mrs aju is a non tax payer and she also donates some of her allowance to me as well)
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Post by Harland Kearney on Aug 17, 2020 23:23:23 GMT
My switch is set to complete 21/08 according to the text, got the card and account open already. Anybody got the 100 bonus yet?
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aju
Member of DD Central
Posts: 3,500
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Post by aju on Aug 18, 2020 7:35:46 GMT
My switch is set to complete 21/08 according to the text, got the card and account open already. Anybody got the 100 bonus yet? Ours is due 20th, we too got cards, no pins as yet though, we are not really expecting to use them but never say never!. The mse forum i linked at the top suggest people are getting the money before the completions but i think i read it was 7 bus days from switch start.
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Post by Harland Kearney on Aug 18, 2020 11:18:57 GMT
My switch is set to complete 21/08 according to the text, got the card and account open already. Anybody got the 100 bonus yet? Ours is due 20th, we too got cards, no pins as yet though, we are not really expecting to use them but never say never!. The mse forum i linked at the top suggest people are getting the money before the completions but i think i read it was 7 bus days from switch start. Thanks for info, yeh its no big deal. Not sure what I'll do with the account, will probs downgrade it to a current account (free one) when everything is set and complete. Keep it so I can switch it for a new offer in the future if something pops up. Easy money 
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aju
Member of DD Central
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Post by aju on Aug 18, 2020 13:30:03 GMT
Thanks for info, yeh its no big deal. Not sure what I'll do with the account, will probs downgrade it to a current account (free one) when everything is set and complete. Keep it so I can switch it for a new offer in the future if something pops up. Easy money With a couple of proviso, there may be further milk to be got from the cow. One being it they accept it and the second being is it worth the effort.... I had considered cycling £500 as the debit card qualification via NS&I using the Direct saver as the holding point to get the £5 a month, maybe even doing the £1500 minimum pay in that way to save effort. That's an interesting thought sounds like hard work though compared to just setting up reciprocal S/O's on mine and Mrs aju's accounts and leaving them to work for me. I am a lazy s*d though I have to admit.  Edit: Just remembered when we opened up Mrs Aju's NS&I Income Bond a few weeks ago, we initially used a debit card to pay in the initial £500. We then set also set up a FP route from Mrs Aju's Lloyds account and paid in another £500. The FP route was recognised the very same day, the debit card payment took over a week and half to go through to available. It registered at the NS&I end quickly but remained in "holding" and I assume not available to take out but getting interest they said, so not sure if you meant it was just as a trigger. You would I guess need it in the Hfx account to be able to send it to NS&I though but seriously less than £5000!. The DB credit was part of the initial setup though so maybe day to day payment are quicker.
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Post by Harland Kearney on Aug 20, 2020 16:15:34 GMT
Got my £100 today, downgraded to a current account no issues. Just wanted the £100, not interested in keeping £5,000 cash for a £5 a month hassle.
Thanks everyone,
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Post by df on Aug 20, 2020 17:46:30 GMT
Got my £100 today, downgraded to a current account no issues. Just wanted the £100, not interested in keeping £5,000 cash for a £5 a month hassle. Thanks everyone, Got mine today too. Keeping 5k for 1.2%, there's no better place for it atm, all my better paying accounts are already filled up to the maximum allowances.
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Post by Harland Kearney on Aug 20, 2020 21:32:59 GMT
Got my £100 today, downgraded to a current account no issues. Just wanted the £100, not interested in keeping £5,000 cash for a £5 a month hassle. Thanks everyone, Got mine today too. Keeping 5k for 1.2%, there's no better place for it atm, all my better paying accounts are already filled up to the maximum allowances. Indeed, I have other arranagements in place, you would have to keep more than 5k in cash if you wanted to use it pro-actively as a investment parking place, would just bee too much of a head ache to not accidently hit the fee by going below 5k and what not. Too many bank accounts as it is! the 1.15% is pretty good on NS&I although yeh its 0.05 less which is signficant this low in rates. Virgin doing 2% on 1k I think still?
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Post by df on Aug 21, 2020 18:13:01 GMT
Got mine today too. Keeping 5k for 1.2%, there's no better place for it atm, all my better paying accounts are already filled up to the maximum allowances. Indeed, I have other arranagements in place, you would have to keep more than 5k in cash if you wanted to use it pro-actively as a investment parking place, would just bee too much of a head ache to not accidently hit the fee by going below 5k and what not. Too many bank accounts as it is! the 1.15% is pretty good on NS&I although yeh its 0.05 less which is signficant this low in rates. Virgin doing 2% on 1k I think still? I think the fee is waved if you pay in £1500 a month. Keeping 5k in is for getting 1.2%. I'm used to these things, not a head ache for me, only need to set up 3 SO's (£1500 in, £1500 out and £5 out) and forget about it for a year... Good thing about this offering is that you can get out at any time without loosing previously earned profit. Yes, Virgin is still doing it. I've got 4 of them, tried to get more, but the system won't allow
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