Reward Current Account

Isn't it time your bank thanked you properly for your custom?

We think so, too. The Reward Current Account replaces the usual interest payment with someting that's easy to understand - and potentially far more rewarding.

It works like this:

  • £5 each month you pay in £1,000, whether you're in credit or overdrawn
  • Simple-to-understand overdraft fees - you'll pay daily overdraft fees rather than monthly interest, making it easy to manage your money

Plus all the standard features you'd expect from a current account, including:

  • A Halifax Visa debit card
  • Use of cash machines to withdraw up to £300, get mini statements, check your balance and top up your mobile
  • Access to all of our branches, as well as our 24-hour telephone and online banking service

Opening a Reward Current Account online is really easy and only takes a few minutes.

Or sign in and apply here if you are an existing Halifax online banking customer


  • Apply online for a Reward Current Account and select the option to switch accounts
  • We'll contact you. We'll then change your bank account, contact your existing bank and switch your standing orders and direct debits

  • You will need to transfer any credits, such as your salary or pension, into your new account

We'll even arrange a fee-free overdraft for 120 days to help ensure the switch is as smooth as possible.

Do you know how much interest you pay if you go overdrawn? Not may people do, so we're keeping things simple. We'll use a fixed daily fee that's easy to track. Staying in control of your finances has never been simpler.

Our overdraft works like this:
If you... then we'll charge you...
use an arranged overdraft up to and including £2,500 £1 a day
use an arranged overdraft of over £2,500 £2 a day
use an unarranged overdraft £5 a day

With a Reward Current Account you won't have to pay any other fees if you go overdrawn, so you need never worry. It makes perfect sense. What's more, we won't charge you any fees, as long as you pay in enough money to bring your bank account back into credit by the end of the day. As we charge fees on this account instead of interest, the typical rate is 0% EAR.

Opening a Reward Current Account online is really easy and only takes a few minutes.

Or sign in and apply here if you are an existing Halifax online banking customer

An important note for the Reward Current Account:

The monthly £5 reward payment is ‘net’ of income tax. This means we pay it after taking off income tax at the rate set by law (currently 20%). If you are a higher-rate taxpayer, you may have to pay extra income tax on the reward payment. The gross amount is £6.25. This is the amount before we take off income tax. You may reclaim tax from HM Revenue & Customs if the amount of tax we have taken off is more than you have to pay. To find out more visit www.hmrc.gov.uk/incometax. The £5 monthly reward payment will be paid into your account before the 10th of each month. If we have a valid reason, we can choose not to charge a fee which you would otherwise have to pay. Halifax current accounts and services are offered subject to status and overdrafts are repayable on demand. EAR is the equivalent annual rate. This is the actual annual cost of an overdraft. This does not take into account any fees or charges. If you have an arranged or unarranged overdraft, your statements will show the amount of fees we will take from your account at the end of the month.

Terms and Conditions for the £50 switching payment:

  • To qualify for the £50 switching payment you are required to:
  • Open a new Halifax Reward Current Account online via the Moneysupermarket "£50 to switch to the Halifax Reward Current Account" promotional campaign
  • Complete the switching section in the Halifax Reward Current Account application form with your existing bank account details
  • Use the Halifax Switching Team to switch your Direct Debits, Standing Orders and other regular payments from your existing current account with another bank to your new Halifax Reward Current Account
  • Move your salary and/or any other regular credits from your existing current account with another bank to your new Halifax Reward Current Account
  • The payment of £50 will be paid directly into your Halifax Reward Current Account within one calendar month of your switch being completed
  • The payment will appear as a cash credit in the account
  • The offer excludes any applications made for a Halifax Ultimate Reward Current Account, Halifax Current Account and Halifax Student Current Account
  • The offer excludes customers switching between Halifax and/or Bank of Scotland current accounts
  • All Halifax Reward Current Accounts are offered subject to status
  • Accounts can only be opened by personal customers and only one account whether held in a sole name or joint names will qualify for the offer
  • Joint accounts opened under the offer will only be eligible for one payment
  • The offer does not apply to customer(s) who already hold an existing Halifax Reward Current Account in sole name or in joint names
  • The offer is subject to change and can be withdrawn without notice at any time
  • This offer is not available to employees of Lloyds Banking Group