In this brief guide we are going to discuss: Halifax balance extra and how it can potentially help you save more money

What is the Halifax Balance extra?

Halifax Balance extra is an online banking feature which Halifax bank offers its customers. The Halifax balance extra feature essentially shows the customer how much money they have left before payday after taking into consideration their typical monthly spend. 

This means taking into account their direct debit,s standing orders, pending transactions and other typical spend.

By doing this Halifax provides customers with their actual cash flow which allows customers

To plan their spending efficiently over the next few days or weeks and avoid requiring them to go into their overdraft or take out payday loans.

To be able to benefit from the Halifax balance extra feature you will have to meet certain requirements in order to make sure the recommendations or data being given out by the feature is accurate. 

These requirements include:

Having a monthly salary which is paid directly into your account

Having a sole Halifax bank account

In this brief guide, we discussed the Halifax Balance extra. If you have any questions or comments please let us know below.

If you need financial advice and you live in the UK then you could contact the Money Advice service over the phone or via chat for impartial advice.

You can also contact the debt charity “Step Change” if you are in debt and need help.

John Bate

John has 22 years of experience in financial services. This spans across financial research, financial services (As a qualified mortgage broker and underwriter), financial trading and sales at global investment banks. While working as a publishing research analyst, he covered European bank credit and advised institutional clients on investment strategies at both JP Morgan and Societe Generale. John has passed all three levels of the CFA (Chartered Financial Analyst) programme.