It’s easy to switch your bank account and overdraft

    Switch your bank account to Halifax and apply for an overdraft to give your finances a bit of breathing space.

    5 ways our overdraft could help you

    1. Easy to understand daily fee

    We’ll charge you a daily overdraft fee at the end of each day you use an overdraft (depending on the type of account you have and the amount you are overdrawn).

    You’ll pay a fee of 1p per day for every full £7 borrowed.  If you go overdrawn by less than £7 you won’t be charged anything.

    Use our Overdraft Calculator to see how much you might pay each day

    2. Help to reduce your overdraft

    Once you’ve switched your bank account and overdraft to us you’ll have a 6 month period where you won’t pay any daily fees on your new overdraft (subject to status) – a little extra help to get you back on track.

    Representative example: For Reward Current Account – if you use a planned overdraft of £500, then for the first 6 months we’ll charge you a daily overdraft fee of £0.00.  After the 6 month period we’ll charge you a daily overdraft fee of £0.71.

    If you change your account to another current account with us within six months, then the fee free overdraft offer will end and daily overdraft fees will apply based on the account you’ve chosen.


    What is an overdraft?

    An overdraft is a way of borrowing money through your bank account.

    To get an overdraft, you must pay your salary or other regular amount into your account.

    Overdraft offers are based on your personal circumstances at the time you apply and are repayable on demand, including any fees.

    They can give you more financial flexibility, especially handy when you get those unexpected bills, forgotten-about yearly direct debits, or you’re running a little short of money before payday.

    Overdrafts are a great way of managing your money in the short term and are not intended for long term or higher amount borrowing. For longer term and higher amount borrowing you may find a credit card or loan a more suitable and cheaper option.


    3. No hidden surprises

    If a payment takes you beyond your overdraft limit, or we return it unpaid, we won’t charge you any additional fee unlike some other banks.

    It’s important you stay on top of your bills though.  If a payment goes unpaid, the other company may charge you for missed payments.


    4. Stay aware with mobile alerts

    To help you stay on top of your balance, we can send you mobile alerts when:

    • You’ve started using your overdraft and are being charged
    • You’re nearing your limit
    • You don’t have enough to pay a standing order
    • You’ve reached your limit

    Find out more about mobile alerts

    5. Manage your overdraft on the move

    Quickly apply to increase, decrease or cancel your current overdraft limit, and securely control your money through online banking or our Mobile Banking App.

    You get an instant online decision and any new overdraft offered is available straightaway, with no set-up fees.


    Switch your bank account to us today

    If you switch your main current account to Halifax we'll give you £75 in 7 working days.

    Just use the Current Account Switch Service to transfer and close your old account held elsewhere. Available on new and existing Ultimate Reward (£17 monthly fee), Reward or existing Current Account. We're sorry but if you've had cashback for switching to us since January 2012, you won't get it again. Aged 18+.


    Switching your overdraft

    At the start of your application to switch your bank account we’ll ask you if you’d like to apply for an overdraft as well. If you say yes, subject to approval, we’ll tell you the maximum overdraft we can offer. Remember, it costs nothing to set one up.


    Switch to a Reward Current Account and apply for an overdraft

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    Chat to us online about switching overdrafts

    Web chat appears as a pop-up at the bottom of the page, when available.

    Monday to Friday 8am-8pm; Saturday to Sunday 10am-4pm

    If you’re an existing customer find out more about overdrafts and how to apply