How to cancel your Halifax ultimate reward account?

the_first_step

Hi

This is my first post on this forum. I hope someone can help me out.
Awhile ago I upgraded my Halifax bank account to the Ultimate reward account. After a while I decided to cancel my account, because I don’t use half of the added extras. (Thought I would try and save myself a tiny bit of cash each month)
The first time I contacted Halifax about cancelling my account, they said it would be no problem and that it would take around 48 hours to cancel. After a month or so, I noticed I was still being charged for the ultimate reward account. Therefore I rang back up, asking if my account had been closed. I was then told that I could not cancel my account as I had passed the 2 week cancellation period. I also asked about trying to get my old account back, they said they no longer offer my old account. The only other accounts they offer are; the reward account and the cash card account. I already have these other two accounts with the Halifax. The only reason why I haven’t cancelled my account is that the ultimate reward account has the same overdraft system as my old account. I know the Reward account has an overdraft system too, but from what I can see in the term and conditions of the account the overdraft of the account seem to be very expensive. Overdrafts are handy sometimes, but I don’t know if it’s worth while paying a monthly charge of the account?
PS sorry about any bad grammar or spelling/

Any help would be great.

456789

I think the only option is downgrade to reward/cash card as the old current account doesn't exist anymore as an option

jambosans

You can either close the Ultimate Reward Current Account or re-designate to the Reward Current Account. You are not obliged to keep the account for a minimum term and should be able to close or re-designate at any time. You can do either via branch or telephone banking.

I would imagine when you were told you could not cancel after the first two weeks they meant you could not cancel without incurring the first months fee.

sscott5581

Taken from Halifax website

If you close your account in the first year
you may be charged an amount equal to £12.50
a month for each remaining month to the end

of the first year

flyingscotno1

sscott5581 wrote: »

Taken from Halifax website

If you close your account in the first year
you may be charged an amount equal to £12.50
a month for each remaining month to the end

of the first year

Downgrade to Reward Current Account- would that avoid it?

sscott5581

I am not sure, you should ring telephone banking to find out.

the_first_step

Thanks for the advise.
The thing that annoyed me was that my old account was fine, the only difference is now that I'm paying each month for the privilege of having an account that has a normal overdraft. If I switch to the regular reward account and go into my overdraft they will hound me with charges.