Published On: Sat, Sep 5th, 2020

Halifax switching offer deadline ends next week – should you switch your current account? | Personal Finance | Finance

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Halifax will currently provide customers with £100 within seven days if they use the Current Account Switch Service to close their accounts elsewhere and move their funds into one of two of their own accounts. However, customers will only be eligible if they start their switch by September 8.

If something were to go wrong with the switch, the person involved will be covered by the “Current Account Switch Guarantee”.

Halifax will also refund any interest (paid or lost) or charges made on either the person’s old or new current account.

The switch itself should follow a seven day process.

On day one, new customers should apply for a current account and make the switch, with existing Halifax customers needing to complete their switching form.

From day one to six, customers will be able to use their old account and new Halifax account at the same time, with Halifax transferring payments as necessary.

On day seven the switch will be complete and Halifax will close the person’s old account and move any funds to the new account.

Once the new account is opened, customers may also be given a six months zero percent interest free overdraft.

Once the initial six months are up on this, interest will be charged daily on the overdraft.

The daily arranged overdraft interest rate will be based on how the customer manages any accounts with Halifax and on the credit information they hold on the customer.

If choosing the Reward Current account option, customers will be able to earn £5 or a “lifestyle benefit” each month they meet certain conditions, have a contactless VISA debit card and earn up to 15 percent cashback subject to T&Cs.

The Ultimate Reward Current Account provides the same perks with the addition of worldwide travel insurance, mobile phone insurance, AA breakdown cover and home emergency cover.

Full details on the offer overall can be found on Halifax’s website.



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