Follow this topicFollow this topic Knowledge » Current accounts

Halifax relaunches £100 current account switching offer

John Fitzsimons
by Lovemoney Staff John Fitzsimons on 21 October 2012  |  Comments 3 comments

You can pocket £100 just by switching your current account to Halifax.

Halifax relaunches £100 current account switching offer

Halifax has relaunched its £100 switching bonus for people that move their current account to the bank.

Available until the 2nd December, £100 will be credited to the new account on the day customers begin the switching process. This is unusual, as other banks that offer similar switching bonuses tend to wait a couple of months before handing over the cash.

The switching bonus first popped up in January and reappeared in June. It’s no doubt helped make Halifax even more popular, given it claims more than 220,000 people have moved their bank account to Halifax this year, up 54% on the same time last year.

I have a Halifax Reward account myself. So long as you pay in £1,000 a month, you get £5 cashback, no matter how much money you have left in the account at the end of the month.

There’s also the Ultimate Reward account, which offers worldwide multi-trip family travel insurance, mobile phone insurance and AA Breakdown Cover for £10 a month. The Ultimate Reward Account also comes with a £300 fee-free overdraft facility.

One other current account is offering a switching bonus at the moment, the 1st Account from First Direct. This pays £100 for taking out the account and a further £100 if you leave after a year if you’re not happy with the service.

With this account you’ll need to pay in £1,500 a month or have another First Direct product to avoid the £10 monthly charge. But you can rest assured that you’ll have the most popular bank account around – First Direct wins every award going when it comes to customer service.

More on current accounts

Compare current accounts

Barclays swaps sales bonuses for customer service rewards

Co-op Bank abolishes branch sales bonuses

Five places where you can get an overdraft for free

Frodo Finance's flexible overdraft

Santander 123 current account offers cashback on mortgage repayments

Enjoyed this? Show it some love

Twitter
General

Comments (3)

  • environmentaljan
    Love rating 8
    environmentaljan said

    Nice offer shame about the bank. I have just left Halifax, even their £5 a month was not worth it. Other charges, the local branch closing,long queues to pay in and intractable staff all added up to hassle. I wanted to open a savings account with a good size cheque from my endowment payout - would they let me - no. so the trip to the branch 6 miles away was wasted. they wanted me to go for a financial review for an hour - on another day! Oh and I was going to have to take all my ID stuff again. So bribes in the end have consequences.

    Report on 22 October 2012  |  Love thisLove  0 loves
  • Bobble71
    Love rating 0
    Bobble71 said

    Agree with Environmentaljan's comments. My 22 year old son went for an appointment to open a current account as the building society he was with closed our local branch. . Came away with a credit card he didn't want, life insurance and a savings account with an automatic £250 debit from his current account. His appointment he expected to take 20 mins took an hour and a half and he was given he "hard sell"

    Their products are OK but beware the Halifax "Financial reviews" and "appointmrnts". I recently received a bequest and had planned to put some in a 3 year cash ISA - went to Virgin Money as they offered the same interest rate of 3.5% AER and I could do it all online.

    Report on 22 October 2012  |  Love thisLove  0 loves

Post a comment

Sign in or register to post a reply.

Our top deals

Provider & account name Credit rate (AER)
Based on £1
Overdraft
rate

Based on £1
Apply
now

TSB Classic Plus Current Account

5.0% 0% EAR Apply

Nationwide BS FlexDirect

5.0% 0% plus £0.50 per day usage fee Apply

Clydesdale Bank Current Account Direct

2.0% 9.9% EAR Apply
W3C  Thank you for using Lock, Stock and Two Smoking Barrels