Halifax Overdraft fee's And switching Question

deamondiamond

Hi guys,

I just had a quick question, im looking to transfer from santander to this new halifax reward current account, the one that gives you £100 when you switch and £5 each month, i'm looking to get a £300 overdraft i was searching high and low in the terms and conditions and saw that it said daily fee of £1 on planned overdrafts, but is this fixed as in, is there a cap? as i know santander charge £5 a month for having a planned overdraft, Is it capped ?


I hope this makes sense!

Thank you

noh

No cap. It is £1 per day for amounts less than £2500.
Halifax Reward accounts aren't cost effective for small overdrafts.

deamondiamond

Ok thank you ! In that case not worth me switching ! Thank you

opinions4u

The Ultimate Reward Current Account doesn't apply the charge for overdrafts of £300 or less.

That costs £10 a month (after taking in to account your fiver reward) and gives you lots of insurances you may or may not benefit from (breakdown cover, mobile cover, holiday insurance etc).