New Halifax High Interest Current Account

buses7675

Hi All,

Just noticed in a nearby Halifax branch (yet not in another I passed!) they have posters up for their new current account someone was on about a few weeks ago.

From the poster, all you could tell was that the interest was 5.12% IIRC, so long as you paid at least £1000 per month into the account.

No other information appeared to be shown on the poster, and no information in online about that account yet.

Perhaps this account launches from Monday, as the smaller Halifax that I saw the poster in doesn't open weekens, the larger one which still has posters for some loan in the window was open today!

Cheers

Steve

rainbow21

I work at the Halifax and you're right, the new account is 5.12% for people paying in £1000 or more each month and this rate is paid on balances up to £2500. 0.1% is paid on anything above £2500
There's still the moneyback account which pays cashback on debit card transactions so if you're getting over £1000 credited you need to work out which account is best for you. This 5% one is great - let's hope the rate stays that high for a while

Poppy9

I already have a halifax current account and pay in over £1000 per month. Will I automatically get the higher interest rate?

Also for those who do not pay in £1000 per month if you put your account on line and open an online savings account too you can transfer money to your savings account and straight back to you current account within minutes and qualify for paying in £1000 per month!

buses7675

Poppy9 wrote:

I already have a halifax current account and pay in over £1000 per month. Will I automatically get the higher interest rate?

Also for those who do not pay in £1000 per month if you put your account on line and open an online savings account too you can transfer money to your savings account and straight back to you current account within minutes and qualify for paying in £1000 per month!

Is that really true?!

That sounds quite good, especially for the Moneyback Current account, as you could pass the £1000 though it quickly each month without loss of interest, just keeping enough money in it to cover any odd purchases made at shops that wouldn't accept moneyback credit cards, such as Netto/Aldi/Lidl etc - With a new Netto opening up nearby to me, I really might do this!

Cheers

Steve

rainbow21

Poppy9 wrote:

I already have a halifax current account and pay in over £1000 per month. Will I automatically get the higher interest rate?

Also for those who do not pay in £1000 per month if you put your account on line and open an online savings account too you can transfer money to your savings account and straight back to you current account within minutes and qualify for paying in £1000 per month!

I don't think you will automatically get the new rate - I think you'll probably be able to upgrade your account to the new one. Even as staff they don't tell us much until the launch day so we know the basics but not the detail such as upgrades. But from past experience such as when the moneyback account was launched it won't change automatically.

Rich_T_2

Seems good, whats the min age for Halifax?

buses7675

Hi All,

This account is now available on the Bank of Scotland Website:

http://www.bankofscotlandhalifax.co.uk/bankaccounts/highinterestcurrentaccount.shtml

and although I can't find a link, by altering the URL, the normal Halifax one does work too

http://www.halifax.co.uk/bankaccounts/highinterestcurrentaccount.shtml

T&Cs at

https://www.halifax.co.uk/HICA/pdf/HalifaxTandC.pdf

The interest rate really is 5.12% on balances up to £2500, 0.1% above that, so I'll edit my original post so as not to be misleading!

Cheers

Steve

Poppy9

I hit the call back button on the website (open Mon-Sun 8am - 8pm). They called me back to tell me the dept. I want is closed until Monday 9am!!!

Last time they improved the ISA account I used the same call back and they rang me straight away. I said that the new Isa had a higher interest rate than my current Isa with them and they amended my account without me having to go through the hassle of applying. I hope they will do so with the bank account too.

buses7675

Rich_T wrote:

Seems good, whats the min age for Halifax?

After a quick look on the Halifax site, from what I could see, you need to be 18 to open this High Interest Account.

Cheers

Steve

s71hj

does anybody know if you can convert an existing halifax current account into the high rate saver. Also can you convert an existing halifax current account into the halifax cashback current account.

Rich_T_2

Can the 1000GBP be made by transfering funds from one account to the other?

Also what is the on-line banking like?

Regards