Current Account Switch Guarantee

More great reasons to switch to a Reward Current Account:

  • Earn £5 or a lifestyle benefit each calendar month – choose a Reward Extras offer and get rewarded when you meet a set of conditions each month
  • Earn as you spend – activate Cashback Extras offers online
  • Contactless – get a VISA debit contactless card
  • Save the Change® – round up your card payments to the nearest pound to save as you spend

Get all of the above with the Ultimate Reward Current Account plus:

  • AA breakdown cover, mobile phone insurance, travel insurance and more

You're eligible for the £125 offer if you do the following:

  • Open a new Reward Current Account (Free if you pay in more than £1,500 each month otherwise £3 monthly fee to maintain the account)

Or

  • Open a new Ultimate Reward Current Account (£17 monthly fee to maintain the account)

And

  • Switch and close your old account held elsewhere using the Current Account Switch Service by 14 December 2021

You wont qualify for the offer if:

  • You’re changing an existing Halifax account to a Reward or Ultimate Reward Current Account
  • You’ve received cashback for switching to us since April 2020
  • You are switching to a Halifax Current Account, Basic Account, Student Account or Youth Account
  • You are switching into any existing Halifax bank account

Frequently Asked Questions on Switching:

  • As an existing Halifax customer can I qualify for the £125 offer? Yes, as long as you haven’t received cashback from us since April 2020 and you open a new Reward or Ultimate Reward Current Account and use the Current Account Switch Service to switch a bank account held elsewhere
  • To qualify for the offer do I need to complete the switch at the time of opening my new bank account? No, as long as you start your switch by 14 December, you can complete your switch at a later date by visiting our website

Do you feel like you’re missing out on some attractive perks with your current account, or just want to have all your money under one roof?

It has never been easier to switch current accounts to a different bank. In fact, the bank you move to will take care of most of it for you.

The Current Account Switching Service is free to use and works with nearly every UK bank, to make the process easy for you.

When you apply for a new current account with your new bank, the whole process of switching takes just 7 working days. That’s every standing order, Direct Debit and wage payment all moved over. You can even keep using your existing current account while the change takes place.

Why switch current account?

There are many reasons why people might choose to switch bank accounts. It could be a new reward that you’ve taken a fancy to, or perhaps a new account has better features than the one you already have.

Here are some of the reasons people might switch:

  • You could earn £5 or a lifestyle benefit each calendar month – if you switch to a Reward Current account or Ultimate Reward Current Account. Some conditions apply. Please see our Reward Extras page for details
  • We’ll move all your payments – Any payments, Direct Debits, Standing orders and remaining balance will be transferred into your new current account
  • Choose your switch date – Switch in 7 working days or select a later date that suits you
  • Up to 15% Cashback – Earn as you shop with Cashback Extras. Activate offers through Online or Mobile Banking and shop with your debit card at selected retailers. Merchant offers and cashback amounts vary. T&Cs apply
  • 0% interest free overdraft for the first 6 months when you switch - You will need to apply for an arranged overdraft during your current account application

Your switch is safe

Payments - Any payments made to your old account will automatically be redirected to your new account. We'll also contact the sender with your new account details.

What if something goes wrong? - You're covered by the Current Account Switch Guarantee. We'll refund any interest (paid or lost) or charges made on either your old or new current account.

How to switch your current account

Switching is extra easy

Day 1

Day 1-6

Day 7

Day 1

New customers

Apply for a new current account and switch.

Existing customers

Complete our switching form.

Day 1-6

You can still use your old account and use your new Halifax account.

We'll transfer payments from your old account to your new Halifax account.

Day 7

Switch complete. We close your old account and move any funds to your Halifax account.

6 months 0% interest free overdraft when you switch

An arranged overdraft can act as a useful safety net. You can use it to borrow money up to an agreed limit through your bank account.

What happens after the 0% interest free period ends?

Once your six month interest-free period ends we will charge interest daily. The daily arranged overdraft interest rate will be based on how you manage any accounts with us and on the credit information we hold about you. We will let you know this rate in the pre contract credit information we give you if you apply for an arranged overdraft.

 

Representative example (based on using a Reward Current Account)

An arranged overdraft on a Reward Current Account has a variable interest rate of 39.9% EAR, and a variable representative rate of 39.9% APR, based on borrowing £1,200.

How does our overdraft compare?

You can use the representative APR to compare with other products or credit providers, this can help you make sure that you choose the right type of borrowing for you.

How much does my overdraft cost in pounds and pence?

As an example, the interest cost of borrowing £500 is: £3.22 for 7 days, £13.86 for 30 days and £28.09 for 60 days.

Arranged overdrafts are subject to application and approval and repayable on demand. You must be 18 or over to apply. Arranged overdraft limits and interest rates vary based on your individual circumstances.

Not got an account with Halifax?

Apply for a current account with us and we’ll take care of switching your old account to us within 7 working days.

  1. Choose and apply for an account.
  2. Complete our simple switching form during your application.
  3. We’ll switch your account in 7 working days

Ultimate Reward Current Account

£125 when you switch to this account

£17 monthly fee to maintain the account.

  • Worldwide travel insurance
  • Mobile phone insurance
  • AA breakdown cover
  • Home Emergency cover
  • Earn £5 or a lifestyle benefit each month you meet the Reward Extra conditions
Ultimate Reward Current Account

Reward Current Account

£125 when you switch to this account

£3 monthly fee to maintain the account. If you pay in £1,500 or more each month you won’t pay the fee.

  • Earn £5 or a lifestyle benefit each month you meet the Reward Extra conditions
  • Contactless VISA debit card
  • Earn up to 15% cashback, merchant offers and cashback amounts vary, T&Cs apply
  • Overdraft facility subject to approval
Reward Current Account

Current Account

Free everyday banking.

  • Contactless VISA debit card
  • Earn up to 15% cashback, merchant offers and cashback amounts vary, T&Cs apply
  • Mobile Banking app
Current Account

Already got a current account with Halifax?

You can switch a current account held elsewhere into an existing Halifax bank account.

  1. Complete our simple online switching form.
  2. Let us do the rest and your switch will be completed in 7 working days.

If you’re switching into an existing Halifax bank account opened before 3 November 2021 you will not qualify for the £125 switch offer.

Complete our switch form

The form should take around 5 minutes to complete and you'll need your old bank details to hand.

Switching your bank account and overdrafts

Can I get an overdraft if I switch bank accounts?

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 limit you can have, and you can add it right away. You can also apply for one later.

 

What happens if I am overdrawn and want to switch?

We will show you the maximum amount of arranged overdraft we can offer you, before you complete your switch request form.

If we are unable to give you the full amount, you will need to make arrangements with your bank to pay back the remaining balance.

If you've already got a current account with us, you can check to see if you can extend your arranged overdraft. Simply sign into Online or Mobile banking to find out.

  • Representative example (based on using a Reward Current Account)

    Representative example (based on using a Reward Account)

    A variable representative rate of

    A variable interest rate of 

    Based on borrowing

    A variable representative rate of

    39.9% APR

    A variable interest rate of 

    39.9% EAR*

    Based on borrowing

    £1,200

    How does our overdraft compare?

    You can use the representative APR to compare with other products or credit providers, this can help you make sure that you choose the right type of borrowing for you.

    How much does my overdraft cost in pounds and pence?

    As an example, the interest cost of borrowing £500 is:

    Interest on borrowing

    £3.22 for 7 days

    £13.86 for 30 days

    £28.09 for 60 days

    Useful tools

    You can use our calculator to work out how much your anticipated arranged overdraft borrowing would cost over different periods of time. Check your eligibility and calculate the cost of an arranged overdraft:

    Cost Calculator Eligibility Tool

     

    Arranged overdrafts are subject to application and approval and repayable on demand. You must be 18 or over to apply. Arranged overdraft limits and interest rates vary based on your individual circumstances.

    *EAR is the Equivalent Annual Rate. This is the annual interest rate of an overdraft. This means you are charged over the year based on how often and how much you are overdrawn by, and the effect of compounding it – charging interest on interest already charged. This interest rate does not include any other fees and charges.

  • To qualify for the £125 switching offer (“the offer”) you must open a new Reward Current Account or Ultimate Reward Current Account and use the ‘Current Account Switch Service’ to switch into it from a bank account held with another bank. The following conditions apply:

    • Apply for a new Reward Current Account (£3 monthly maintaining the account fee applies) or new Ultimate Reward Current Account (£17 monthly maintaining the account fee applies) (‘Qualifying Account’)
    • Use the ‘Current Account Switch Service’ to transfer all the active credits and debits from the bank account that you hold with another bank to the Qualifying Account which will close your old account with the other bank
    • Open your Qualifying Account between 03/11/21 and 14/12/21 and start the switch service by 14/12/21

    You are not eligible for the offer if:

    • You open and switch to any account other than a new Reward Current Account or new Ultimate Reward Current Account
    • You switch to any existing Halifax account
    • You change your existing Halifax Current Account to a Reward Current Account or Ultimate Reward Current Account and switch to that account
    • Since April 2020 you’ve received a switching offer for switching to a Reward Current Account or Ultimate Reward Current Account
    • You are switching to a joint account and one of the parties to the joint account has already received a switching incentive since April 2020
    • The bank you are switching from does not participate in the Current Account Switch Service. To find out more visit www.currentaccountswitch.co.uk
    1. The offer applies to applications received in branch, online or by phone between 03/11/21 and 14/12/21. The offer is subject to change and can be withdrawn without notice at any time
    2. The offer does not automatically guarantee an arranged overdraft and any application for an arranged overdraft facility will be subject to status. If your account has an arranged overdraft, you will not pay any daily arranged overdraft interest for 6 months provided you stay within your arranged overdraft limit and do not increase or otherwise alter the arranged overdraft limit agreed
    3. After 6 months, or if you change your account, you will be charged daily arranged overdraft interest applicable to the account you hold if you use your arranged overdraft. If you need any information about our overdrafts please visit www.halifax.co.uk/bankaccounts/overdrafts.html
    4. Only one offer is available per customer. Joint accounts will only be eligible for one payment
    5. The offer will be paid directly into your account within 3 working days of your switch completing and will appear as a cash credit. The offer is not available to employees of Lloyds Banking Group, or if the employee is named on any bank account held in joint names
  • The Current Account Switch Service makes switching from one bank or building society to another simple and hassle-free whether you’re a consumer, small charity or small business. You’ll find the main benefits of the service below:

    Switch on your terms.

    With the Current Account Switch Service you can choose a switch date to suit you. Just make sure you allow a minimum of seven working days.

    Simple and hassle-free.

    The new account provider transfers any existing balance and all existing payment arrangements for you – including those going out (for example Direct Debits and standing orders), those coming in (for example, your salary) and payees you already have set up.

    Wide ranging spread of UK banks and building societies are on board.

    This means over 99% of UK current accounts are covered by the Current Account Switch Guarantee.

    The switching process is the same everywhere.

    Every bank and building society offering the service follows exactly the same switch process.

    Payments are automatically redirected.

    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.

    Backed by a Guarantee.

    In the unlikely event that something goes wrong with your switch, the new provider will refund any interest or charges incurred on your old or new account as a result.

    A single point of contact.

    The whole process will be handled by the bank or building society you are switching to. If you have any questions or concerns, just ask your new provider.

  • 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.

    Current Account Switch 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.

    For more information and FAQs, please read the Account Switching Guide (PDF, 1,723KB).

    Crystal Mark 20785. Clarity approved by Plain English Campaign.

Switching your account: FAQs

  • It’s a free service that lets you take your current account to another bank. In just seven days, you can close your existing account and move everything to a new account, without the hassle. That’s Direct Debits, wages - the lot.

    If you don’t want to move everything over and would rather keep your existing account open as well, you can apply for a Partial Transfer.

    This will let you move some payments over but keep others in the same place. This might take more than a week, though.

    The service covers 99% of UK current accounts. But you can’t switch any of the following:

    • A joint account (without both parties’ permission)
    • Savings accounts
    • ISAs
    • Foreign currency accounts
  • The Current Account Switching Service will take care of all the admin for you. Best of all, it’s completely free to switch over, with no fees or charges for you to pay.

    Choose your own switch date and the service will do the rest. It’ll also forward on payments to your old account for three years after you switch.

    While the service is free, your new account might not be. You may be paying an agreed-on fee for an overdraft allowance, or other service charges. If you’re further into your overdraft than your new bank will agree to carry, you’ll also need to arrange to pay off the rest with your old bank before you can close that account.

  • You can switch current accounts as often as you like. But most banks won’t give you the same reward more than once if you switch again during a certain period.

  • Yes, the Current Account Switching Service is free of charge each time you choose to use it. But the bank you switch to may have their own monthly fees.

  • It depends on how often you make the switch. Frequent switching within the course of a year might tell lenders that you aren’t very reliable.

    This should only be a problem if you’re planning to take out a mortgage. Otherwise, changing banks every few years has little impact on your credit score.

  • No, you can choose to apply for a Partial Transfer. This only moves the outgoings and payments that you want it to. You can keep your old account open if, for example, you’d still benefit from their rates or ongoing offers.

  • There are more than 40 participating banks, covering 99% of the UK’s current accounts. Visit the Current Account Switch Service website to see which banks are included.

Halifax current accounts and services are offered subject to status. Whether you can have an arranged overdraft and the amount will depend upon your personal circumstances at the time you apply for one. Any overdraft we agree is repayable on demand.