Halifax Reward Account

clare3452

Hi

I am thinking about opening one of those Halifax Reward accounts but I am concerned about switching away from my current account with HSBC.

I have an interest free overdraft on my account with HSBC for one more year. Would switching to the Halifax reward account mean that I compromise my HSBC account and the interest free overdraft?

Thanks

rb10

Once HSBC see that you are not using your account, they could well reduce or even remove the overdraft.

However, remember that you could get a three month interest free switchers overdraft from Halifax.

Also, if you do go for the Halifax account, make sure you apply in branch or via Moneysupermarket.com, to make sure you get a £50 bonus.

opinions4u

rb10 wrote: »

However, remember that you could get a three month interest free switchers overdraft from Halifax.

<whispers> 120 days interest free is more like 4 months .

clare3452 wrote: »

I have an interest free overdraft on my account with HSBC for one more year. Would switching to the Halifax reward account mean that I compromise my HSBC account and the interest free overdraft?

If you have the £12.50 a month Ultimate Reward Current Account with Haifax it offers a charge free overdraft of upto £300, subject to approval. It also refunds the £5 if you credit with £1,000 a month.

If the other benefits of the account offer you value, and £300 is an adequate charge free limit, then the URCA maybe a better bet than the Reward account.

If they don't offer you value, stick with the Reward idea.