MSE News: Halifax fires salvo in current account war

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This is the discussion thread for the following MSE News Story:
"Consumers who switch to the Halifax Reward current account can earn an initial £50 bonus and get paid £5 a month, if they transfer via price comparison site Moneysupermarket.com ..."
"Consumers who switch to the Halifax Reward current account can earn an initial £50 bonus and get paid £5 a month, if they transfer via price comparison site Moneysupermarket.com ..."
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The T+Cs are here:-
http://www.halifax.co.uk/bankaccounts/rcamsm100601.asp?source=NETMONSUREWCAINCETIV
The offer does not apply if you already hold a Reward Account.
So if your current account with Halifax is anything other than a Reward Account then you are eligible as long as you are switching from an account with another bank.
I believe minnes is incorrectly indicating the Reward Current Account costs £12.50 per month. The Ultimate Reward Current Account costs £12.50, and this account does not qualify for the £50 cashback via Moneysupermarket.com.
So to answer the question:
Yes, this is a good deal, because the account does not cost £12.50 per month.
Link to details on the offer:
http://www.halifax.co.uk/bankaccounts/rcamsm100601.asp?source=NETMONSUREWCAINCETIV