Changes to Reward and Ultimate Reward Accounts

A question about : Changes to Reward and Ultimate Reward Accounts

New terms and conditions will go live from 1 May 2013, to make a clearer distinction between main banking customers and non-main banking customers.

Summary is:

• Reward Current Account customers need to have a minimum of two direct debits set up on their account by 14 April 2013. Any account, regardless of the amount the account is funded with, that doesn't have two direct debits will be converted to a Current Account on 2 May 2013

• From 1 May 2013, to receive your Ј5 reward/discount on URCA fee, customers need to:
• Fund their account with Ј750 PCM (down from Ј1k)
• Pay two direct debits to different organisations each month
• Remain in credit all month

The 'buffer' limit is also being increased from Ј10 to Ј50 for all main banking customers. This means you will not pay planned or unplanned fees on the first Ј50 you are in debit.

Best answers:

• Where did u get this information from, can't find anything on halifax website.
• You can read the notice of variation here:
  https://www.halifax.co.uk/bankaccount...nt-changes.pdf
• I assume they've finally cottoned on to all the people taking their free fivers every month then...
• Brilliant spot, thanks Der52, gives me loads of time to set up all those additional DDs :-)
  Dont think I cba to change my SOs from Ј1K to Ј750, unless it has to come from an external source now.
• Mmmmm interesting. I have a bank of Scotland branded reward account (now a withdrawn product) I wonder if they are changing the BOS branded reward accounts as well?
• Didn't we have to switch 2 DDs to get the switching bonus? That's sorted then. Glad I didn't switch them to Lloyds for the 4%, or I'd have to switch them back now. That would be the 4th switch in just over a year. (and then the 5th would be to Santander for the cashback). The council and the water board might be getting a bit fed up of competition in the current account market.
• Just a thought, but would it be easier than setting up savings accounts and whatnot, to just set up two small DDs to charity?
  https://directdebit.macmillan.org.uk/defaultnew.aspx
  and
  https://www.wateraid.org/other/display/watercharity.php
  seem to both let you choose your own amount.
• Well thats bloody annoying. Ive just opened an URCA to benefit from the Ј300 fee free OD and account benefits.
  I'll be closing it now and opening a co-op privelege premier which is cheaper and has a better benefits package.