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Current Account Switch Guarantee
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.
For more information and FAQs, please read the Account Switching Guide (PDF 1.7MB).
![Current Account Switch Guarantee]()
![Crystal Mark 20785. Clarity approved by Plain English Campaign.]()
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We will need to carry out identification and verification checks on you, as well as anyone else who will be authorised to operate your account.
In most cases you will only need to produce one of the following:
- A current UK photo driving license
- Passport from the United Kingdom
- Biometric Residence Permit card
If you are an existing customer, you can use your existing bank card with Chip & Pin to verify your identity.
The Biometric Residence Permit card may not be accepted in all our online journeys. You may need to provide additional documentation.
If you cannot provide one of the items above, you will need to bring two documents. You can find a full list of acceptable documents on our Proving your identity webpage.
If you do not have any of the items listed here we may be able to accept other items. Just ask a member of our branch staff or call 0800 056 0056.
Before continuing please read our important information on the optional arranged overdraft
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.
- You can apply to add an arranged overdraft to your account and you’ll only pay daily arranged overdraft interest if you use it.
- If you use your arranged overdraft but pay it back before the end of the day, then you won’t pay any arranged overdraft interest for that day.
Helpful tools - You can use our eligibility checker and cost calculator to check your eligibility and calculate the cost of an arranged overdraft.
Applying for an arranged overdraft - When you have applied for this account, at the end of the application you can apply for an arranged overdraft which you can add right away. You can also apply for one later.
Amending an arranged overdraft - You can reduce or remove your arranged overdraft at any time through Mobile Banking, Online Banking or Telephone Banking or by visiting your branch. But you must repay anything you owe if you want to remove an arranged overdraft or anything over the new reduced limit you want. You can also apply to increase it. Using an arranged overdraft increases your overall borrowing and may affect your credit score.
If you don't have enough money in your account or available arranged overdraft 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.
Applying for this product does not improve your eligibility for an arranged overdraft.
All overdrafts are subject to application and repayable on demand. You must be 18 or over to apply.
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Arranged overdraft details
- £50 interest free amount
- 39.9% EAR (variable) representative
- Your interest rate will be based on how you manage any accounts you have with us and on the credit information we hold about you
- No unarranged overdraft interest, fees or charges
Representative example
Arranged overdraft representative example
A variable representative rate of
A variable interest rate of
Based on borrowing
A variable representative rate of
61.7% APR
A variable interest rate of
39.9% EAR*
Based on borrowing
£1,200
The APR includes monthly maintaining the account fees of £17 and an interest free amount of £50
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:
£2.87 for 7 days
£12.42 for 30 days
£25.18 for 60 days
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For more information and terms and conditions for this account, read the Ultimate Reward Current Account Getting Started Guide (PDF 1.3MB).
For more information about the fees associated for Payment Services with this account please see the Ultimate Reward Current Account Fee Information Document (PDF 137KB).
For more information read the Reward Extras Terms and Conditions (PDF, 54KB)
For more information on lifestyle benefits, read the Lifestyle Benefits Terms and Conditions (PDF, 312KB)
Halifax current accounts and services are offered subject to status. Available only to personal customers aged 18 or over who are resident in the UK.
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.
The insurance cover and other services that come with the Ultimate Reward Current Account Benefits Package are renewed every month and will end if: (i) your Ultimate Reward Current Account is closed; (ii) you fail to pay the monthly maintaining the account fee for the account; (iii) your account is changed to another type of account with us; (iv) your residential address is no longer in the UK. Any other insurance policies that you yourself have taken out at a discount as part of the benefits package will not be affected.
