Amid the ongoing cost of living crisis that has left many grappling with financial strain, Halifax is offering a lucrative deal for new customers. Those who switch to two of the qualifying current
accounts can enjoy a £150 bonus. With the burden of escalating food and energy prices still impacting households, such incentives providing extra cash are undoubtedly appealing.
Halifax's offer has earned a spot among Money Saving Expert's top-pick bank accounts, alongside similar deals from NatWest, First Direct, and TSB, all of which offer cash rewards for switching.
Let's delve into the details of Halifax's offer and the time frame you have to seize this opportunity.
What Does the Halifax Switching Deal Entail? Halifax is extending a £150 reward to individuals who switch to one of their qualifying bank accounts and close their existing account with another bank. Moreover, customers have the chance to earn an additional £75 cashback each month if they spend £750 or more in the first three months after opening the account (terms and conditions apply).
How to Initiate the Switching Process Newcomers to Halifax can easily begin the process online by selecting one of the qualifying bank accounts: either the Ultimate Reward Current Account or the Reward Current Account. Alternatively, applications can be made at a Halifax branch or via phone.
To facilitate the switch, you'll need to opt for the switch-and-close-your-old-account option during the application. Having your old bank details on hand will be necessary.
Notably, the switching process is free. However, if your old account has an overdraft larger than that offered by the new account, settling the overdraft might be required before closing the old account. As long as you commence your switch before August 31, 2023, you can complete the process at a later date using Online Banking or the Mobile Banking app.
Don't Miss the Deadline The offer is only available to applicants who apply before August 31, so swift action is crucial if you wish to take advantage of this enticing offer.
Eligibility Criteria Anyone who is not an employee of Lloyds banking group can apply, including existing Halifax customers. However, you won't qualify for the reward if:
- You are switching to a Halifax bank account not listed as a qualifying account.
- You have received a switching offer for Lloyds or Halifax Bank accounts since April 2020.
- You initiate your switch after August 31, 2023.
Don't miss out on this opportunity to earn some extra money with Halifax's switching deal. Act promptly to secure your £150 reward and possibly earn additional cashback in the process. Photo by Mtaylor848, Wikimedia commons.