In this brief guide, we discuss the Halifax current account, the different current accounts available and their various perks.

Halifax bank is one of the biggest banks in the UK and by default, the Halifax current accounts are in good demand. Some of the Halifax current accounts also reward you for being a Halifax current account holder.  

The Halifax current accounts have simple overdraft fees making it easy for you to know what your potential costs are when you take on overdraft borrowing.

If you currently bank with another provider and are considering the Halifax current account then you will be pleased to know that the Halifax current account has a very easy account switching process and a switching team who are there to make your transition as smooth as possible.

Halifax Current Accounts

There are various Halifax current accounts. 

The Halifax reward current account

There is the Halifax Reward Current Account which provides  you with an extra £5 for each month you pay in at least £750. You will also need to pay at least two monthly direct debits with your Halifax reward current account and not be in your overdraft.

Overdrafts

As with all Halifax current accounts overdraft fees are quite clear for all to see as they are daily fees rather than interest charges which could be very confusing for most account holders to understand.

The Halifax Ultimate reward current account

The Halifax ultimate reward current account and goes a step further by providing you with worldwide multi-trip insurance and family travel insurance. The Halifax ultimate reward current account  also provides you with AA Breakdown Cover and mobile phone insurance. 

You could also potentially get a £300 fee-free overdraft but this is subject to passing the affordability requirements set by Halifax.

The Halifax ultimate reward current account  will also give you £5 if you have two direct debits, don’t go into your overdraft and pay in at least £750 each month.

The Halifax ultimate reward current account costs £15 a month but it seems good value so far.

Halifaxz doesn’t stop there, it also provides a whole host of offers which are accessible through most of its current accounts through its ‘Halifax Rewards’ programme. 

The Halifax rewards programmes are truly designed for people who have their main current account as Halifax.

There are a variety of offers. Some provide you with better saving rates, mortgage rates and more for customers who pay in £750 or more each month or hold an Ultimate Reward Current Account.

Regardless of what Halifax current account you end up with you can be guaranteed that there will be some benefit to you. If you plan on switching your current account to Halifax then you will also sleep easy knowing that they have a team of people solely dedicated to this. This means they can transfer your direct debits and standing orders in the easiest fashion.

There are no daily fees for the 6 months on planned overdrafts This means more money in your pocket.

Types of Halifax current account

You can view an up to date range of Halifax current accounts here.

There are:

Reward Current Account

Ultimate Reward Current Account

Student Current Account

Expresscash (11-17 years old)

Basic account

Switching to a Halifax current account.

If you switch your current account to the Halifax current account then you will switch under the current account switch guarantee.

The current account switch guarantee states the below:

“  We have designed the Current Account Switch Service to let you switch your current account from one bank or building society to another in a simple, reliable and stress-free way. It will only take seven working days. As your new current-account provider we offer the following guarantee.

The service is free to use and you can choose and agree your switch date with us.

We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary).

If you have money in your old account, we will transfer it to your new account on your switch date.

We will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details.

If there are any issues in making the switch, we will contact you before your switch date.

If anything goes wrong with the switch, as soon as we are told, we will refund any interest (paid or lost) and charges made on either your old or new current accounts as a result of this failure. “

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

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 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.

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.