Upgrading Halifax Current Account / Transfers Between Banks

test45

I set up a Halifax Current account a few months ago (as I needed a more widely accepted debit card, the Visa Electron with my Halifax Card Cash account wasn't accepted everywhere). I'm now in a position to be able to transfer £1000 a month into the account so could do with moving to the Halifax Reward Current Account (which appears to be identical but gives you £5 every month you make the £1000 transfer).

Can this be done easily online (I get a upgrade link currently on Halifax Online but this is to upgrade to the Halifax Ultimate Reward Current Account which is the account above what I want and carries with it a £12.50 monthly fee)? If not is a branch visit / phone call needed to do the upgrade? Will they issue a new debit card or will I keep the existing one?

Is it likely in the future I will need to shift to another bank (to stay within the FSA limits for savings). If I have the Halifax Reward Current Account will I be able to transfer the £1000 to this account and then out to the other bank (it's not an issue if this takes a few days to occur, it's more a check to confirm there would be no fees or charges with transferring between current accounts at two banks).

daniel598

In order to change your account to a reward just simply give telephone banking a call and it will be actioned overnight.

You will keep the same card and account details

Transferring from HX to another bank will normally go by faster payment and is free of charge and takes around 2 hours max

jem16

test45 wrote: »

Can this be done easily online (I get a upgrade link currently on Halifax Online but this is to upgrade to the Halifax Ultimate Reward Current Account which is the account above what I want and carries with it a £12.50 monthly fee)? If not is a branch visit / phone call needed to do the upgrade? Will they issue a new debit card or will I keep the existing one?

You will need to phone to get it done - it can't be done online. You could probably visit a branch but not sure on this as I phoned up. Everything stays exactly the same, no need for a new card.

Is it likely in the future I will need to shift to another bank (to stay within the FSA limits for savings). If I have the Halifax Reward Current Account will I be able to transfer the £1000 to this account and then out to the other bank (it's not an issue if this takes a few days to occur, it's more a check to confirm there would be no fees or charges with transferring between current accounts at two banks).

If you did it as a simple transfer either by Faster Payments or BACS there will be no charge. It's only CHAPS payments that charge.