Halifax EasyCash - Keep Insisting That I Upgrade

mimi__2-2

Hi,

I've had to call Halifax telephone banking a number of times in the last month, due to odd things happening in my basic bank account (a standing order always coming out 7 days before the specified date and direct debits being refered to payer despite plenty of available credit at the time). Everytime that I call, they ask me if I want to upgrade my account - I was even told that I have a child's bank account!

They are telling me that the account that everything will stay exactly the same just that I won't be charged for failed DD or SO payments - it all seems a bit too easy?? Call me cynical!

My credit rating is not that great: I have one unsettled CCJ from 2008 (which I'd like to pay off soon but is it worth it if it'll drop off in 2 years?), no late payments/defaults but only an O2 contract from October (I had a CPW contract for years but that's not showing on any of my credit reports) Experian rank me as good (891) but I know that doesn't necessarily mean anything.

Anyway, I've been with halifax for about 7 years so if I was going to change bank accounts would it not be better for me to maybe look elsewhere? But is my credit report strong enough to do so? I don't want to start raking up credit searches to be declined.

steflarne

If they are trying to get you to upgrade its likely other banks will also offer you similar full current accounts. You must be already approved for their current account, and as you are eligible they will try to sell you a current account just because it counts towards their bonus! Telling you you have a child's bank account is a slightly odd way to go about it mind...

It is true though you wouldn't be charged for returned DD or SO with a current account, but you do of course have the overdraft fees, £1 or £2 if a planned overdraft, £5 a day if unplanned.

mimi__2-2

Ah, thanks for that - they didn't mention anything about overdraft fees whenever I've called which I think is a bit naughty but then again they are a bank!

System

The overdraft fees obviously only apply should you apply for/use an overdraft or go into an unauthorised overdraft. Since they are comparing an Easycash - they will be working on the basis that you won't want/use an overdraft.

I would suggest you upgrade to the Current (or Reward account if you can payin £1000 per month) as you'll get full branch access along with a Visa Debit card whilst keeping the same bank details etc.

mimi_ wrote: »

Ah, thanks for that - they didn't mention anything about overdraft fees whenever I've called which I think is a bit naughty but then again they are a bank!

mimi__2-2

Quick update - am quite fond on my visa electron so rather than upgrade I ended up opening a new current account with a £100 overdraft

They did run a credit check but the account/overdraft limit appeared on my online banking this morning so the demon CCJ must not have scared them off. So, after 7 years I have a "grown up" bank account again

innovate

Have you worked through Martin's main article on bank accounts? Halifax might not be such a good idea if you ever go overdrawn.

You can have more than one current account, and you don't really have to make any changes to your existing account in order to get yourself going with another bank. Although some will try and may you believe that you need to move all your business, and/or they entice you with a switching bonus.