Halifax to vanish?

King_Of_Fools

https://forums.moneysavingexpert.com/discussion/comment/82055065#Comment_82055065

We do not know when yet, and it will be different depending on accounts (they talk about the coming months).

The app change seems slightly more imminent (they talk about the coming weeks) so it may be that you will be moved to the Lloyds app but it will still show the Halifax logo for your account in the app until thet is changed later.

Eventually, your statements will have the Lloyds logo.

GTR_King

yep won’t take long to do that!

Will see what happens

jackjones01

https://forums.moneysavingexpert.com/discussion/comment/82055065#Comment_82055065

I dunno as this is / has also happened recently:

https://forums.moneysavingexpert.com/discussion/6663351/scottish-halifax-accounts-changing

Section62

https://forums.moneysavingexpert.com/discussion/comment/82055036#Comment_82055036

Why would they bother to retain Halifax products?

At a guess, to avoid the cost and hassle of forcing a conversion of customers from one account type to another.

A mass 'Reward' to 'Club Lloyds' conversion would be complicated because some customers will already have a Club Lloyds account. And whereas the Club Lloyds account is limited to one in sole names, customers can have 3 (perhaps more) Halifax Reward accounts. So there would be detriment to customers with multiple Reward accounts if they are only allowed one Club Lloyds. And as has been pointed out already, the fee for Club Lloyds is greater than the Reward fee, so there would be detriment to customers who are allowed the conversion.

It would probably make more sense to allow customers to keep existing Reward accounts, only rebrand them as Lloyds. Then just continue the process Halifax had been doing of making the rewards less rewarding so customers decide for themselves to make the switch to a different product.

King_Of_Fools

https://forums.moneysavingexpert.com/discussion/comment/82055151#Comment_82055151

Interesting, but that was specifically for Halifax accounts opened in a Scottish branch (that all either changed to BoS or closed). Now that they will already have moved all these Scottish accounts to BoS, then all remaining accounts will be those not opened in a Scottish branch.

As such, moving them to Lloyds would make most sense. As they are not changing the sort codes and account numbers, then it will mean that the sort codes will be associated with non-Scottish branches.

If you want an BoS account, it will need to have a Scottish sort code.

EarthBoy

https://forums.moneysavingexpert.com/discussion/comment/82054517#Comment_82054517

I think the most likely scenario is that Halifax Reward accounts will stay the same for existing customers, and it will just become a closed issue, and not available to anyone else.

redux

I'm just reflecting on the initial page when logging in to the apps

Part of the same family slogan, with 3 logos

Fratricide

retiredinfrance

Thanks to all for your posts. As you can see. We are in France and im a bit worried Lloyds might shut our savings account. With Brexit, we had trouble getting a UK current account and are with HSBC, but Halifax allowed our savings account to stay open , no new accounts. This has been marvelous as all our dividends and U k pensions are paid in . We couldn’t afford the big balance Lloyds international make you keep with them, nor do we like the idea of an offshore account .

friolento

https://forums.moneysavingexpert.com/discussion/comment/82055052#Comment_82055052

What has been the benefit of keeping a Reward account as a Reward since they stopped paying the monthly fiver? If you want to keep the account for some reason, why not “upgrade” it to a normal current account, and save the hassle of the monthly deposit?

Section62

https://forums.moneysavingexpert.com/discussion/comment/82055476#Comment_82055476

Because we didn't know whether Halifax(/Lloyds) might decide to make the Reward account more rewarding at some point in the future, but as they did before limit the product to one (new) account per customer.

The 'hassle' is just cycling £1500 through the Reward accounts, which if done along with the Club Lloyds and BoS Vantage accounts amounts to maybe a minute or so extra per month.