Changes to this account due 6th April 2020
On the 6th April we will be making changes to our bank accounts. Changes include how we charge for arranged overdrafts and reducing fee free amounts on accounts that have them. For accounts that earn credit interest, we will change the way it is calculated. For a full explanation please read the guide to changes.
No monthly maintaining the account fee with this account.
Just stay in credit and you won't be charged any daily arranged overdraft fees.
Mobile alerts are also available if you'd like help to stay in credit.
Eligible account for Save the Change® - save your pennies when you spend.
Get £2 each month when throughout the previous calendar month you:
If in any month you miss out on the £2 reward, don’t worry you'll still get free everyday banking, so long as you stay in credit.
With a wide range of retailers, including clothes stores, DIY outlets and restaurants, your Cashback Extras are constantly updated so check back regularly.
To qualify for Cashback Extras you need to be over 18, have a Halifax Bank Account, a Halifax debit and/or credit card and be registered for Online Banking. Merchant offers and cashback amounts vary. Terms and Conditions apply.
An arranged overdraft can act as a short term safety net. You can use it to borrow money up to an agreed limit through your bank account.
- Setting up an arranged overdraft is free and you’ll only pay a daily arranged overdraft fee if you use it.
- If you use your arranged overdraft but pay it back before midnight the same day, then you won’t pay an arranged overdraft fee for that day.
If you don't have enough money in your account to make a payment, we may either let you borrow through an unarranged overdraft or refuse to make the payment. Missing payments and using an unarranged overdraft can damage your credit score, please get in touch with us as we may be able to help you.
All overdrafts are subject to application and repayable on demand. You must be 18 or over to apply.
Switch to us and get an arranged overdraft with no fees for six months. We may offer you an overdraft at the end of your application and if we do we’ll tell you the maximum amount you can borrow. If you choose to apply for it you won't pay fees when you use your overdraft for the first six months. After the six months are up, you'll pay a daily arranged overdraft fee to use your overdraft.
All overdrafts are repayable on demand, so make sure it's right for you before you apply for one.
You can earn £2 each month when throughout the previous calendar month you:
If in any month you miss out on the £2 reward, you can still get it in future months too (when you meet the qualifying requirements above).
When we pay you the £2 Reward we are required by legislation to pay tax of £0.50 to HMRC on your behalf, so the gross reward is £2.50. The tax paid is 20% (current basic rate of income tax) of the gross amount. If you are a higher rate or additional rate taxpayer it is your responsibility to pay any additional tax due.
If you’re opening an account and you switch your main current account to Halifax, we’ll give you an arranged overdraft with no daily arranged overdraft fees, subject to status, for the first six months. After this time, daily arranged overdraft fees will apply based on the account you’ve chosen.
If you change your account to another current account within six months, then the fee free arranged overdraft offer will end and daily arranged overdraft fees will apply based on the account you’ve chosen.
At the end of your current account application process, we may offer you an arranged overdraft. If we do, we’ll tell you the maximum amount you can have and you can add it right away. You can also apply for one later.
Arranged overdrafts are repayable in full, on demand, and subject to approval.
If you use your arranged overdraft, you’ll pay a daily arranged overdraft fee over your fee-free amount (if your account has one). The daily arranged overdraft fee is 1p for every full £6 you borrow up to £1,250, 1p for every further full £7 you borrow between £1,250 and £2,500, and then a further 1p for every full £8 you borrow over £2,500.
If you use an arranged overdraft of £1,200 on your Reward Current Account then we’ll charge you a daily arranged overdraft fee of £2.
We may offer you an arranged overdraft, which you can add right away.
Alternatively, if you already have a current account with us and would like an Arranged Overdraft, you can apply for one through Online Banking or Mobile Banking. You can also apply to increase your existing arranged overdraft too.
You'll be up and running in 3 simple steps.
Choose a current account and apply
You can still use your old account and use your new Halifax account.
Enjoy your Halifax account.
We'll start your switch.
We'll transfer payments from your old account to your new Halifax account.
Switch Complete. We close your old account and move any funds to your new Halifax account.
You can choose the date you want to switch.
If any payments go to your old account after the switch.
No need to worry, we will arrange for any payments made to your old account to be automatically redirected to your new Halifax account for up to 36 months.
If something goes wrong.
You're covered by the Current Account Switch Guarantee. 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.
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.
For more information and FAQs, please read the Account Switching Guide (PDF).