MSE News: Halifax fires salvo in current account war

Lily1

I did this last night and now seem to have an ordinary account even though I went through the Moneysupermarket link. Not sure where I went wrong. Any ideas what I can do, incidentally was doing it on my husbands behalf.

DrScotsman

Just to let everyone know Alliance & Leicester wouldn't give me ANY offers to stay with them. I'm a fairly unprofitable Premier 21 customer though, so your mileage may vary.

alexlyne

[pedantic]
Doesn't the term 'salvo' suggest multiple simultaneous firings towards a target? This is only one offer.. not multiple offers!
[/pedantic]

jambosans

Lily1 wrote: »

I did this last night and now seem to have an ordinary account even though I went through the Moneysupermarket link. Not sure where I went wrong. Any ideas what I can do, incidentally was doing it on my husbands behalf.

That seems to be normal, after 48 hours the account should revert to the Reward Current Account. Never had experience of this personally, but have a read at the below thread:-
https://forums.moneysavingexpert.com/discussion/2515001

Lily1

Thanks for reply jambosans account has now changed. Panic over.

MrsBartolozzi

Is it just me that thought this was about Halifax sacking a member of the Salvation Army?
..Oh well I'll get my coat then...:D

intalex

Anyone know if you have to use the 'quick switch' option towards the end of the application?

I'd prefer to keep my current account and continue paying my salary into it as well as keeping some of my direct debits there.

I'm happy to set up a standing order for £1000 per month into the Halifax account, and also move one or two direct debits there. Any idea if this will still work and still entitle me to the £50 joining bonus and £5 per month?

abunchofletters

Sorry for reviving a dead thread, but did anyone switch to this account and get the £50?

I did so over the summer and whilst it took ages to get everything transferred over, I've been very happy with the account and the £5 interest per month [and then switching my spare cash to a savings account for more interest].

However, I haven't got the £50 in my account nor can find any evidence I can use to track my claim, which worries me somewhat. It would be good to confirm with someone else who had done so and got paid or not, or ny ideas on how to chase it up...

System

Halifax state, in print, that they will offer a fee free overdraft to people switching in to the Reward Current Account "subject to status". They sell this specifically as a way of avoiding issues arising during switching.
Well, well. Despite a credit score of 999 (top whack) with Experian, they declined my modest overdraft application (without telling me). They then had the cheek to say that I could "earn" this overdraft facility by building up a history of payments into the account.
So - just how does this help me switch???

I consider this is misleading and dishonest. Please take note - and don't close your existing current account if you switch.

dr_adidas01

merebold wrote: »

Halifax state, in print, that they will offer a fee free overdraft to people switching in to the Reward Current Account "subject to status". They sell this specifically as a way of avoiding issues arising during switching.
Well, well. Despite a credit score of 999 (top whack) with Experian, they declined my modest overdraft application (without telling me). They then had the cheek to say that I could "earn" this overdraft facility by building up a history of payments into the account.
So - just how does this help me switch???

I consider this is misleading and dishonest. Please take note - and don't close your existing current account if you switch.

Why are you replying to a post thats 2 years old?

It doesn't matter that you have a credit score of 999.

You may not have enough credit history with any organisation to see how you would behave if you had an overdraft, hence why you have been declined the facility.

All lenders base there lending facilities on the last 3 years of activity on any credit accounts that you have.