Published On: Sun, Aug 23rd, 2020

Halifax bank account changes come into forced next month – will you need to pay monthly fe | Personal Finance | Finance

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Changes to the Halifax Reward Current Account were announced earlier this year. It came ahead of June 1, when Halifax relaunched the account, changing the rewards customers could be able to benefit from.

However, those who do not meet the deposit limit have seen their £3 fee waived for the time being.

The waiving of the fee only lasts until September 2020, meaning some customers will encounter the charge from next month.

This relaunched account also offers a number of rewards and qualifying customers can choose one.

The selection made by the customer is valid for a 12-month period, and then they will be invited to choose again for the next year.

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The options are:

  • Stream two movies a month throughout the year, worth up to £120
  • One free cinema ticket a month to catch the latest blockbusters at Vue cinemas across the UK. Filmgoers will get half price popcorn
  • A choice of three digital magazines from a host of well-known titles, including Cosmopolitan, Men’s Health, Red, and Good Housekeeping
  • Or customers can select a £5 monthly reward

To get the reward, customers will need to meet certain requirements.

These are that the they either spend £500 via debit card each month, or keep £5,000 or above in the account each day of the month.

“You will also need to pay at least £1,500 into your account and keep your balance above £0,” the Halifax website states.

Another aspect of this account is customers could get up to 15 percent cashback while shopping with Cashback Extras.

Recently, Halifax announced it was offering new customers £100 to switch to the Reward Current Account.

This particular offer is also available for new Ultimate Reward Current Account customers.

To get the money, customers must open a new account and switch their old account using the Current Account Switch Service.

However, this offer does not last forever; it ends on September 14 this year.

Should a person have received an incentive for switching to a Halifax current account since April 2018, then they wouldn’t be eligible for the £100.

In April this year, Halifax launched a new fee free current account – titled the Halifax Current Account.



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