How do I "downgrade" my bank account ?

piratepixie

Morning all,

I am currently paying £12.50pm for the Halifax "Ultimate Rewards Account" and I was wondering how I go about downgrading it to the "Reward Current Account" ?
I have just checked the facts out about the Ultimate Account I currently have, and it doesnt seem to benefit me for the £12.50pm I pay, I still have to pay the £1 per day for my arranged overdraft and the other stuff thats included in the monthly charge I really dont need at all. Can anyone advise whats the best way to go about it ?

Its a small saving I know but hopefully a bigger step to more

simax

Just phone them and tell them. Simples

PARIS_5000

I agree just phone and tell them that you want to go on the normal reward account and do not want to pay to have a bank account anymore.

YorkshireBoy

If the fee is charged in arrears (is it?) don't forget to budget for another £12.50 debit next month.

Consumerist

I don't know how reliable Halifax are but I would put the request in writing. But then, I'm a former A&L customer.

shortchanged_2

Agree with the others. You could just go into your local branch and say that you no longer want that account and wish to change to the other type of account. It really should be no problem.

MyRubyRed

Would the same apply to LLoyds TSB? Both my husband and my mother are paying for their accounts but really don't need any of the "benefits".

teeni

How long have you had the account, is there an initial 12 month tie in?

Azrael_1701

There is not tie-in for an URCA, phone up telephone banking and they will downgrade it then, it takes effect overnight.

jonesMUFCforever

MyRubyRed wrote: »

Would the same apply to LLoyds TSB? Both my husband and my mother are paying for their accounts but really don't need any of the "benefits".

LTSB have forms in branch to downgrade.

piratepixie

Downgraded successfully over the phone