Lloyds Premier Account vs Halifax Ultimate Reward Current Account

wroenaldinho

Hi All,

I'm currently with Lloyds and have a premier account with them which is knocking me back £25 a month.

I use most of the benefits, but looking at the Halifax account it seems to offer the same apart from a £300 O/D instead of the £500 interest free O/D I currently have with Lloyds of which I don't use, as I have my Lloyds credit card to fall back on.

Does anyone who currently uses the Halifax account recommend a switch?


Thanks in advance.

rb10

The Lloyds premier account is unbelievably poor value - switching is certainly a good idea.

The Halifax URCA is a good account if you can pay in £750/month and have two direct debits (and so get it for £10pm).

Another good one to consider is Nationwide's FlexPlus. Has a similar set of benefits for £10 per month.

wroenaldinho

rb10 wrote: »

The Lloyds premier account is unbelievably poor value - switching is certainly a good idea.

The Halifax URCA is a good account if you can pay in £750/month and have two direct debits (and so get it for £10pm).

Another good one to consider is Nationwide's FlexPlus. Has a similar set of benefits for £10 per month.

Thanks for that advice. I will set it up with Halifax this week, much rather do it in branch.

Thanks again

CherlokHomes

£300 a year for a bank account is absolutely robbing you blind.

The best is nationwide and although it still costs £10 a month it's £180 you'd have for Xmas every year.

rb10

wroenaldinho wrote: »

Thanks for that advice. I will set it up with Halifax this week, much rather do it in branch.

Thanks again

Have you done a thorough comparison between the Halifax URCA and the Nationwide FlexPlus?

Whilst on the surface they appear similar, there are some important differences between them ... it is worth checking carefully that the Halifax account is indeed best for your needs.

wroenaldinho

rb10 wrote: »

Have you done a thorough comparison between the Halifax URCA and the Nationwide FlexPlus?

Whilst on the surface they appear similar, there are some important differences between them ... it is worth checking carefully that the Halifax account is indeed best for your needs.

Thanks for your response. I've had a look at the flex plus account and it does look good, however id prefer to have the £300 interest free overdraft from Halifax as well as the £100 for switching to them.

Will the switch affect the Lloyds credit card I have on my account or will that be separate.

Thanks again

opinions4u

wroenaldinho wrote: »

Thanks for your response. I've had a look at the flex plus account and it does look good, however id prefer to have the £300 interest free overdraft from Halifax as well as the £100 for switching to them.

Remember that using that overdraft will lose you the £5 reward payment for that month.

wroenaldinho

I wont use it much really if I keep my credit card, but id rather have it than not.

YorkshireBoy

opinions4u wrote: »

Remember that using that overdraft will lose you the £5 reward payment for that month.

Drat! (but thank you) I'd forgotten about that.

I was just about to stooz my £5K facility with Halifax as they'd offered to waive the O/D fees for 6 months as I'd switched during a promotional offer period.

£60 'profit' was OK...but I won't bother for £30.

opinions4u

wroenaldinho wrote: »

I wont use it much really if I keep my credit card, but id rather have it than not.

The £300 overdraft is subject to approval.

It's not an automatic feature of the account.

wroenaldinho

opinions4u wrote: »

The £300 overdraft is subject to approval.

It's not an automatic feature of the account.

Does it tell you about the O/D during sign up online or not. Do you find out if youre accepted same day.

Thanks