Bank move to Halifax £100

Scooby_doo_4

Hi
My first thread and what a fantastic forum this really is.
Has anybody moved banks to Halifax for this £100 cash back they do? Pros cons? Is Halifax a good bank I'm tempted to make the switch but I've been a natwest customer over 10 years.


Thanks

N9eav

Welcome.


It pays to switch. I was with Nat West and they give very little in the way of benefits.


Halifax is no better or worse than anyone else


Most of my family (adult children) moved their accounts to Halifax. Got their free £100 and were largely happy.


They did not have masses of DD or payments though.


The only problem they find is that the Halifax bank charges are very high. £5 per day for unplanned overdraft. But I do not know if that is worse than anywhere else.

wrighty1967

I've just moved to the Halifax ultimate reward account, the switch & £100 payment went seamlessly so I would definitely recommend it.
I also had numerous debits & standing orders that all transfered without a problem.

B_G_B

Maybe better to open a donor account and switch that. Leave your existing account open as 10 years shows a bit of stability, which is no bad thing. Also useful to have at least 2 current accounts (with different banking groups) just in case there is a temporary problem with one of them. IT meltdown as an example.

MARTYM8`

B_G_B wrote: »

Maybe better to open a donor account and switch that. Leave your existing account open as 10 years shows a bit of stability, which is no bad thing. Also useful to have at least 2 current accounts (with different banking groups) just in case there is a temporary problem with one of them. IT meltdown as an example.

Yes - I have a main current account I have used for years. And then you have accounts for interest earnings - and if interested switching bonuses. I would worry a switch of a main account could go wrong - and I would rather not have the hassle.

ricky_v

Scooby_doo wrote: »

Hi
My first thread and what a fantastic forum this really is.
Has anybody moved banks to Halifax for this £100 cash back they do? Pros cons? Is Halifax a good bank I'm tempted to make the switch but I've been a natwest customer over 10 years.


Thanks

The £100 is paid very quickly and the free fivers is certainly nothing to complain about, IF you keep the account in credit.

If you're switching your main account don't forget to tell anybody who pays money into your account such as an employer your new account details.

MARTYM8`

OP - check out the offers from the cashback sites when you are ready and if there are any going click via them to the Halifax to open your account.

System

By all means, keep the old account if you want the 'stability' of having an 10 year old account for apps.

I completely disagree with Martym8's view of problematic switching - the new scheme is pretty much idiot proofed as all the credits etc are redirected for 13 months.

MARTYM8` wrote: »

Yes - I have a main current account I have used for years. And then you have accounts for interest earnings - and if interested switching bonuses. I would worry a switch of a main account could go wrong - and I would rather not have the hassle.

Paul_1977

Halifax is owned by Lloyds.

wrighty1967

Paul_1977 wrote: »

Halifax is owned by Lloyds.

Your point being????

Paul_1977

wrighty1967 wrote: »

Your point being????

Some people are not aware of that, and those people might not want to deal with Lloyds due to events in the past.