This comparison simply includes all savings accounts.
Halifax Current Account
Why we like it: 2.00% interest for 12 months on balances up to £1,500 for the first year. You must pay in £1,000 or more each month to receive interest (excluding transfers from any Nationwide account held by you or anyone else). 12 month fee-free arranged overdraft available. No monthly fee. Access to Flexclusives - Select Credit Card and low personal loan rate. Must be aged 18 or older
Why we like it: Earn 0.60% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% CASHBACK on various household bills. Monthly fee of £5. Cashback capped at £5 for each cashback tier each month. Must pay in £500 pm.
Why we like it: Get set up in minutes. No paperwork, monthly fees or branch visits. Send money abroad: Fast and secure money transfers to bank accounts in 38 countries worldwide. No fees when you pay with your card abroad or withdraw money. Real Mastercard exchange rates and real-time notifications in both currencies. Get a spotlight on your spending: See what you’ve spent instantly with real-time payment notifications. Current account is completely free.: No charge for making electronic payments, domestic transfers or ATM withdrawals. Three-month interest holiday on the first £500 of an arranged overdraft. Earn Interest: current account pays 0.05% AER on balances up to £85,000.Card gone missing? Lock it in-app temporarily while you look for it or cancel it with a tap if you think it’s gone for good. Personal loan available that’s straightforward to use, competitively priced and tailored to you. Best British Bank and Best Current Account in 2018, 2019 and 2020 at the British Bank Awards. Awarded 5 stars by Defaqto too. Fully registered bank and a member of the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000
Why we like it: UK & Europe Breakdown Cover, Worldwide family travel and mobile phone insurance, and commission-free cash withdrawals and card payments abroad. Free mobile banking app, text alerts and secure online banking. Access to Flexclusives - Select Credit Card and low personal loan rate. £13 monthly account fee
Why we like it: Everyday current accout. No monthly account fee. Access to Flexclusives - Select Credit Card and low personal loan rate.
Compare Halifax Current Accounts
Halifax Current Accounts have some great features. They offer a £100 switching bonus (subject to conditions) paid into your account before your switch is complete. Most accounts with cash incentives will make you wait up to a few months before paying the money in to your account.
There is also the bonus of monthly rewards if you qualify for their Reward Current Account. You can also earn as you spend with their cashback extras once you have activated your offers in Online and Mobile Banking.
Halifax Provide, as standard:
- Easy access to your account with 24 hour Online, Mobile and Telephone Banking. And access to any of our branches.
- A VISA debit card with contactless payments.
- £10 overdraft buffer, so you won’t get any daily overdraft fees if you are in debit by £10 or less.
- Access to Control - For £10 a month, you can add this feature to help you by stopping your account from going into an unplanned overdraft.
If you are able to pay £750 or more in to your account, pay out at least two different Direct Debits and stay in credit each month, you could earn £5 each month with their Reward Current Account.
Also, if in any month you miss out on the £3 reward, you can still have it in future months too, when you are able to meet the qualifying requirements.
Combine this option with the Switch Reward and you could earn £136 in a year. This is one of the few accounts that pay both a switching bonus and an ongoing reward.
They also offer the Ultimate Reward Current Account at £15 a month which can be lowered to £10 if you meet certain requirements which include:
- Paying in £750 or more every month
- Having two Direct Debits going out of the account
- Not going overdrawn during the month
For this extra fee you gain access to several insurance benefits such as: worldwide travel insurance, mobile phone insurance, home emergency cover, and AA breakdown cover. A great way to save if you currently take out these policies.
Other Useful Information
- You won't be able to get the bonus if you have received any incentive for switching to Halifax since January 2012, or if you are switching from a Bank of Scotland account.
- Halifax shares its £75,000 UK savings safety guarantee with the rest of the HBOS group, so keep this in mind if you intend to hold more than £75,000 across the group
- To qualify for the £100 switching offer you must use the ‘Current Account Switch Service’ and meet the following conditions:
- Use the 'Current Account Switch Service' to switch into a new or existing, Reward Current Account, Ultimate Reward Current Account (£15 monthly fee) or Halifax Current 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 and close this account. You'll get the bonus within three working days once your switch has completed.
While the £10 overdraft buffer and Access to Control will help stop any unwanted bank charges, the fees for the Halifax Current Account can quickly add up.
The fees at the moment are:
- A planned overdraft up to and including £1,999.99 - £1 a day
- A planned overdraft of between £2,000 and £2,999.99 - £2 a day
- A planned overdraft of £3,000 and over - £3 a day
- An unplanned overdraft - £5 a day or £1 a day with Control