Switching to a Halifax Reward Bank Account

Dave_save

I'm currently with A&L and decided, as their current account interest rates are low for 'loyal long term customers', to switch to Halifax and at least get the fiver a month. I applied before Xmas, and was hoping to do the switching online and by post, as I've done before. However, I was asked to take ID into a local branch and that's when I started to have doubts. The branch and telephone staff are the worst I've come across, mainly as they don't seem to have enough knowledge of their own products. Then I was told I'd get a £250 overdraft for the period of the switch 'to cover for the switching period'. On telling them I didn't think this was enough in the event that DDs and salary didn't switch in time to cover each other, they said I can't have a bigger overdraft 'because I'm a new customer'?? Well, pardon me, but I'm a new customer because I'm switching! :rolleyes:

Does anyone have experience of the switching process with Halifax, good or bad?

D1zzy

if you are happy with A&L (except interest rates) why switch?
just open a reward account and chunk £1000 (A&L >halifax>A&L) through the reward account each month & collect yr £5:j

rb10

D1zzy wrote: »

if you are happy with A&L (except interest rates) why switch?
just open a reward account and chunk £1000 (A&L >halifax>A&L) through the reward account each month & collect yr £5:j

It's easier to just have the one account though. Why have two?

And there are the added benefits of Halifax having a much better reputation than A&L for customer service and online banking.

Dave_save

D1zzy wrote: »

if you are happy with A&L (except interest rates) why switch?
just open a reward account and chunk £1000 (A&L >halifax>A&L) through the reward account each month & collect yr £5:j

That's a good point Dizzy, but I'd sooner have just the one account and put my trust in that. I'm sure once the switching process is completed, then their online banking will meet my needs. I was just worried if Halifax made a mess up during the switch then I'd be left with fees to pay.

td_007

Dave_save wrote: »

I'm currently with A&L and decided, as their current account interest rates are low for 'loyal long term customers', to switch to Halifax and at least get the fiver a month.

If it is a normal A&L current a/c why not change to the Premier Direct a/c that gives 6% interest on amts upto £2500?

Mikeyorks

Dave_save wrote: »

then their online banking will meet my needs.

Their online is absolutely spot on ..... which is just as well as it keeps you away from their Branch staff!

As you've correctly identified ..... their grasp of their own products is flimsy to say the least. However ..... reading all the other threads - it seems to be a rapidly growing problem across the industry.

fablad75

I switched not too long ago. It's not the quickest process in the world, so you do need to keep an eye on your DDs. I got an interest-free £250 OD as well so I think it's pretty standard - and that's even though I had a pretty big ISA pot with them.

Love their online banking - it's very easy to use.

D1zzy

rb10 wrote: »

It's easier to just have the one account though. Why have two?

?
why is 2 (or 10) more difficult than 1?
Use 1 let the others sit there as savings accounts and rake in the cash
:rolleyes:

curlygirl1971

I'm a long standing customer of Halifax and have a reward account amongst many other accounts. I also find that branch staff no matter how helpful they might want to be are sometimes clueless about their own products - and it seems to be getting worse - however I do think they have an awful lot to know about. They aren't trained in the in's and out's of their products - they're training to sell them - they learn about the in's and out's from experience when things go wrong with customers. Online staff are better but I think this is usually because you deal with someone who just looks after one area eg. current accounts or savings or mortgage etc.

Recently I was offered £150 by the NatWest to switch to them and I used their switching service. I kept a VERY close eye on it all - good job because it did mess up but I was able to sort things out. NW only gave me £100 overdraft. However they do say that they will cover any fees and would imagine the Halifax do the same. I prefer the Halifax's online banking but don't think its the most secure.

I managed to keep my Halifax account open so now pay bills from the Natwest account and transfer over £1k for spends and saving to Halifax every month to earn my lovely £5

rb10

D1zzy wrote: »

?
why is 2 (or 10) more difficult than 1?
Use 1 let the others sit there as savings accounts and rake in the cash
:rolleyes:

Many people (not including myself here) wouldn't want to do monthly £1k transfers to keep the interest up.

atlantis187

curlygirl1971 wrote: »

Recently I was offered £150 by the NatWest to switch to them and I used their switching service.

How did u manage to get them to give u such an incentive to switch. were u already a natwest customer or did u just walk into a branch and ask about switching?