Halifax has upped its current account switching incentive to £125.
It was previously £75 although it was £100 before that.
To get the cash, new customers need to switch their current account to Halifax using the CASS (Current Account Switching Service) before 31 July 2017.
The £125 switcher bonus is paid into the account before switching completes, within seven working days – that’s pretty quick.
You can’t get the cash if you’ve received another switching incentive from Halifax since January 2012. The deals ends on 31 July 2017.
More free cash · Customers can earn a further £36 a year paid in 12 x £3 monthly payments if they pay in a minimum of £750 a month, pay two direct debits a month, and remain in credit.
· Online and mobile banking customers can also earn cashback with top retailers with Halifax Cashback Extras.
Alternatives This deal is only suitable if you’re keen on switching to Halifax in particular. It’s not a bad account – the minimum pay-in is relatively low and you can earn an extra £36 a year by setting up two direct debits and staying in credit.
There are some higher switching incentives but they all come with strings:
HSBC pays £150 plus £50 if you switch to its Advance account and stay for a year, but you need to pay in £1,750 a month. First Direct pays £100 but you need to pay in £1,000 a month to avoid a £10 fee. M&S pays up to £185 but it’s in the form of an M&S gift card, not cold hard cash.
In short, this is a decent deal if you’re keen on having a Halifax current account or don’t want to jump through too many hoops to get some extra cash.
Latest comments (149)
antivocal
16 Jul 17#149
Just applied for this switch but was turned down?? Only offered me the basic current account. I work full time earning the median wage and have lived in the UK all my life. Confused to say the least, and now I cant apply again for another 30 days.
xPabloz
10 Jul 17#148
I (tried) to open an account using the link but now need to physically go into one of the branches to show proof of identity and address. I've been with Barclays all my life and currently have 3 accounts with them but I only want to switch 1 account (made specifically for this reason). My question is at what point will I be asked which account I want to switch and how do I go on about with it? Thanks
Sorry if this is a stupid question but i've never done this before.
torroxcampo
7 Jul 17#147
Yes that's the one, good thanks for the reply
KB123456
7 Jul 17#146
I spoke to Halifax and there is no minimum period. Have been opening accounts and switching to different banks taking up the offer. Wasn't aware would affect credit rating though :disappointed:
coss9
6 Jul 17#145
I don't think there is a minimum period - not from what I've read. Note that it will affect your credit rating if you continually switch bank accounts
coss9
6 Jul 17#144
Do you mean to the Ultimate Reward account? I think yes, as it means more revenue for them.
coss9
6 Jul 17#143
Wrong I'm afraid. The Royal Bank of Scotland is a separate entity. Halifax is a division of the Bank of Scotland, and both are part of the Lloyds Banking group.
coss9
6 Jul 17#142
I think Bank of Scotland offers are different e.g. BoS offer the Vantage account, but check their website.
peanuted
6 Jul 17#141
has anyone had any luck here not having a Halifax account originally , but a Bank of Scotland one?
i.e I plan on switching TSB to my BOS .
or are BoS offers different to Halifax?
guest233248
6 Jul 17#140
I do not have a current account with a CASS bank as of yet - could I have my income directed to the Halifax account myself and still get the incentive?
EDIT: Answered reading T&C, account switching from needs to participate in CASS
pete_101
5 Jul 171#139
I'd say that they are part of the same group (HBOS) as when I started my switch from Yorkshire on Friday afternoon by Friday evening my new Halifax account was showing on the Bank Of Scotland mobile app when I logged in.
Btw the £125 has already shown up in the BOS mobile app for the account and I've not even received any details in the post from Halifax yet! :smile:
Dayana92
4 Jul 17#138
Hi, it might be a stupid question, but in the t&c says you don't get the money if you switch from Bank of Scotland. I was thinking of switching my RBS account. Does anyone know if RBS is part of Bank of Scotland or they are separate entities? Thank in advance.
torroxcampo
4 Jul 17#137
Can anyone tell me if I switched would I then be able to switch to an account that has a monthly fee for phone insurance and travel insurance too
KB123456
2 Jul 17#136
Where does it say the minimum period that you must stay with the bank before you are able to switch, keeping the £125 cashback?
llukejames
2 Jul 17#135
Took me a couple of days before I got my details the money was already in the account they must put it in straight away
privatemojo
30 Jun 17#134
How quickly does this process take? I go on holiday next week and my work needs to have payroll sorted by the 10th of the month, will I be able to provide them with my new details by then? I don't wanna be stranded on holiday and unable to sort it out.
50huz
29 Jun 17#133
Just received my £125
SalfordCityRed
25 Jun 17#132
Thanks for the reply!! I'll check it out...
coss9
25 Jun 17#131
Just the idle account selected for the switch.
SalfordCityRed
25 Jun 17#130
I've my main Lloyds current account, and an additional Lloyds current account I've not used for years which show up on my online banking. If I open a Halifax Account with the idle account, will it shut down all my Lloyds accounts meaning I no longer have any dealings with Lloyds, or just the idle account I use for the switch?
search4bargin
25 Jun 17#129
thanks,will do
vodkadavis
24 Jun 17#128
The fee only applies if you choose the Ultimate Reward current account which is an AVA. Regular Reward and Current accounts have no fees so voila simply choose one of those!
pixelated1
23 Jun 17#127
Did three days ago and no confirmation, got my online banking details through in the post and nothing in my account either...
slaha11
23 Jun 17#126
halifax does it real quick.
Seancousins
23 Jun 17#125
Any one else done this but not received a text or email to confirm? done it yesterday and received an email to confirm setting up my account but i haven't had anything about the switch?
vassy1
23 Jun 17#124
Got my net banking activated. Guess what £125 is already in account balance. This is the fastest switching incentive I have had.
Thanks again OP.
coss9
22 Jun 17#123
Why not just close the 2nd non-active one i.e. use that as the switch account? Up to you at the end of the day, but I think you will be credit checked, so it will affect your credit score/rating.
coss9
22 Jun 17#122
Correct.
mahow
22 Jun 17#121
I have two current accounts with Halifax (haven't used the second in years), would it be better to switch one to another bank then switch back or open a new one with someone else and switch to Halifax?
nobigdeal
22 Jun 17#120
What happens if you have more than one bank account at a particular bank and use the switching service to switch/close one of them? For example at the at the Nationwide you can hold a FlexAccount and a FlexDirect at the same time (are they both current accounts?) If you switch one away, nothing happens to the other does it?
smiler03
22 Jun 171#119
I would urge anybody interested in these switching account incentives to use Martin Lewis' Moneysavingexpert.com
website. It has great detail and properly researched advice. It is up-to-date and includes this new Halifax bonus.
I think you mis-understood the previous comment, they were referring to the deposit every month, not the receiving of £125. :confused:
Mr.No
21 Jun 171#117
It's only for the first 12 months. Drops to the standard rate after.
ecraigy
21 Jun 171#116
Has anyone applied and opened the account via an application on a mobile phone, or does the application need to be submitted via computer?
coss9
21 Jun 17#115
You can deposit and withdrawal the £750 on the same day.
coss9
21 Jun 17#114
It doesn't state that in the terms and conditions of this offer.
coss9
21 Jun 171#113
The 5% rate of interest is an introductory rate valid for one year from account opening.
coss9
21 Jun 17#112
I think this means if you switch another current account into an existing Halifax current account, the existing Halifax current account needs to be "opened" before the 3rd of December 2016.
coss9
21 Jun 17#111
I don't see why not.
coss9
21 Jun 17#110
I received the incentive last year, and I did not credit my salary to the account.
coss9
21 Jun 17#109
Nil balance is sufficient - the terms state "have not had a debit balance (planned or unplanned) on your Reward Current Account by the end of any day during the calendar month.
DFG88
21 Jun 17#108
is bonus paid if I switch from lloyds basic to halifax current account?
jwhitbread
21 Jun 17#107
To be 'in credit' do I need to have a balance I like 10p or something or does 0 suffice and satisfy their definition of in credit?
JamaalMoosa
21 Jun 171#106
" You will only receive the £125 switching offer if you switch into a new or existing Reward Current Account, Ultimate Reward Current Account (£15 monthly fee applies) or Halifax Current Account if opened before the 3rd of December 2016 "
Does this mean I need to have made the account before the 3rd Of Dec?
AndiTails
21 Jun 17#105
That'll do nicely.
I'm with Halifax for my savings accounts and the Clarity Mastercard, and have an old cahoot account I should close down really (not used it in years). Will use the CASS to do that for me and earn £125 for the fun of it. Not bad for 5 minute's work. The new account is already in my online portal! Super quick.
AndiTails
21 Jun 17#104
Nope.
meherenow
21 Jun 17#103
I would give you a warning that may apply.
My mum is with Bank of Scotland as they have a very nasty problem - if you spend on your debit card the money comes off your account at CLOSE of business so may leave you unexpectedly overdrawn. Also if you have used the overdraft facility, at £1 a day, then that cash ALSO is debited after close of business thus possibly incurring ANOTHER days charge LOL. I imagine that Halifax, pretty much being the same bank and with the same online infrastructure will be the same.
Unlike, say, my bank, which I check online every day - if I have went into the overdraft then I can just transfer money in to remain in credit as all debits come off at the start of the days business!
doricell
21 Jun 17#102
Are they cutting it down???Starting from when??
woodface7
21 Jun 17#101
I read several cases on a bank switching thread in 2012 where Halifax staff denied the incentive to people who have made all the required deposits, but the account they switched from wasn't receiving their salary. And if they didn't see a salary in the account the applicant was switching from, they didn't pay the incentive. Confirmed as policy by Halifax staff. Despite that requirement not being in the written terms. Google the MSE thread 'Halifax £100 lure was a complete & utter waste of time for me' up to post 67.
I'd be happy to hear from more recent applicants who've got the incentive without salary going in.
molimo
21 Jun 171#100
Very simple, just took a recent offered and moved with 7 days. My reward was paid after 28 days though.
Sami24
21 Jun 17#99
Can anyone help with my question please? Newbies here :disappointed:
tonyspoons
21 Jun 17#98
Switched my beer tokens account. Only a few hundred quid going in each month, no direct debits and no monthly deposit needs to be made.
Free £125. Thanks HUKD!
fj1
21 Jun 17#97
Banks are getting clever now and the terms and conditions of all state that if the account is closed within 3 months or 6 months then the bank shall be asking for the return of the switching bonus. Some, like HSBC, pay extra bonus if the account is still operative at the end of 12 months.
fj1
21 Jun 171#96
You can deposit cash, deposit your wages or deposit a cheque from another bank account (it could be your own or a friend's but make sure it is not a Halifax bank account which is considered as internal transfer). You can even withdraw cash from this account and then deposit cash or internet banking transfer into the account after couple of days of withdrawal. I have TSB, Nationwide and M&S bank accounts and I shuffle money between them through internet banking. Nationwide has come to an end, so no 5% interest is earned. Time to switch to Halifax. Good Luck
holeymoley18
21 Jun 171#95
Definitely, if your credit score is good enough. Also don't do it if you want a specific product in the next six months or so eg a mortgage or car finance. Be clear what the t&cs state about minimum funding and direct debits etc. so you don't fall foul of the rules. Other than that play the game. Set up a s/o for the value of the highest pay in requirement and circle it through all your accounts. Make sure it ends back in the a/c which earns the highest interest rate.
bignigglet
21 Jun 17#94
Any advice for a newbie like me with only having one account and all my bills, DD's etc going from it. I'm already with halifax can I create a new account somewhere without my halifax one being closed down?
cheers for any advice given guys :smiley:
holeymoley18
21 Jun 17#93
Yes, but you wouldn't shut the account. You'd wait and switch it somewhere else, claim again, repeat, repeat, repeat.
holeymoley18
21 Jun 17#92
Two? I have 8 and I'm sure they'll be lots of others on here with more than that!
quantum77
21 Jun 171#91
£1 Charity DD and a £1 pw lotto DD? Can get TCB on the lotto DD.
colin912
21 Jun 17#90
Makes them sound desperate for customers if they have to pay you to join!
Any deals around for people always in overdraft, where you don't have to pay interest charges? That would be better.
jwhitbread
21 Jun 171#89
So if I wanted to, I could make a new current account with my current bank (if I didn't want to technically switch any of my actual accounts...use this to switch to Halifax, get 125 quid, take that out and then shut this account? No brainier or are there more catches?
toxic690
21 Jun 17#88
tsb pay £130
gamer21
21 Jun 17#87
Thank you. I'm currently with Halifax so couldn't make use of this deal, but have applied for a TSB one.
ejmi
21 Jun 17#86
have the same problem
nobigdeal
21 Jun 17#85
Is anyone else having issues opening the account right now? I am getting a screen that says something along the lines 'oops, looks like something went wrong' - no other info on screen.
Sami24
21 Jun 17#84
I don't want to go through the hassle of switching my Natwest account who I've been with for years. So can I open a Barclays current account and then switch that over a week later??
Mathaeus
21 Jun 171#83
I'm already with Halifax.. do I get free money too? :/
Heated
Anon32
21 Jun 17#82
Change to tsb or hsbc then once halifax said you have to remain in credit otherwise you'll lose your £5 a month (back then it was) i was off! Now tsb has dropped from 5% to three then i'm off to hsbc! Sick and tired of new customers only while existing get shafted!
admirable
21 Jun 17#81
Surely she has a mobile phone on a DD?
djaydearz
21 Jun 17#80
I dont get what you mean. The easiest way?
you convert all your bills/payments of finances to direct debit..thats it, if she doesnt have any of those, then she needs to get something on finance....
Berniboy
21 Jun 17#79
This could be good for my 19 year old daughter who is at university. To get the extra £3 a month you need to deposit £750 and have 2 direct debits. My daughter does not have any DDs, can anyone advise on the easiest way to get 2 DD set up? Thanks
WillPS
21 Jun 171#78
If you received a switching bonus, then you wont receive another.
soap_box
21 Jun 171#77
Until Monday you're still getting £130 for switching to TSB, plus £10 a month if you do something like 20 transactions a month and have 2 direct debits.
djaydearz
21 Jun 17#76
cold
TSB account blows this out of the water, earning potentially £10 a month
...why is this hot?
WOW a whole £36 a year if i switch and pay £750 a month................
jackie_chan
21 Jun 17#75
Thanks
JMT896
21 Jun 17#74
I've switched to and from most UK banks, so I'm a fan hand at it. No; you have the option of closing the account - not compulsory.
frozencake
21 Jun 17#73
Very good, been with Halifax a few years have gone into my unplanned overdraft plenty of times, never bounces payments and never charge me overdraft fees.. awesome bank
themakerofhay
21 Jun 17#72
is there a minimum time period I then have to use this Halifax account as my main one?
Also, could I just open an account with a different bank and switch that? Don't really wanna close my current account - it's taken me years to remember all the details.
barnesy99
21 Jun 17#71
No, when you switch your old account will be closed.
squalliram
21 Jun 17#70
So would it work if I don't want to close my current account with the previous bank when making this switch? I don't mind having two current accounts.
dudwood_fudwood
21 Jun 17#69
Thanks
mjb1975
21 Jun 171#68
Open an extra bog standard current account elsewhere and use that as the 'donor' account to move around to collect these switching offers. This one is a complete no brainer as there's no direct debit requirements.
padamowicz93
21 Jun 17#67
I wouldn't get it two years ago because of my credit score. Hopefully more luck this time
steevieboy4u
21 Jun 17#66
There requirements state you can switch to an existing Halfax Reward account? Been with the halifax for 20+ years and have got both the reward and ultimate reward accounts, so if i just switch one of my other current account from another bank will i still get the £125 as long as the switching service is used?
50huz
21 Jun 17#65
Same, took out the credit card offer recently.
Does anybody have an answer?
far
21 Jun 17#64
It is £130. However, you can get an additional £5 every month for the first 12 months you have at least 2 direct debits active from at least 2 different institutions and another £5 each month, for the first 12 months, where you make 20 or more debit card transactions a month.
saraye
20 Jun 17#63
I thought TSB are giving £130 not £150? Could be wrong
Keelan1985
20 Jun 17#62
Awesome! That was so easy to do.... thank you OP!
jdpwest
20 Jun 17#61
Halifax online banking security isnt great so dont be suprised if you end up getting a call from their fraud dept asking if you made large payments from your account or taken out online loans with them.
qwerty93
20 Jun 17#60
I recently left Halifax for tsb...
can I still swift to Halifax but from another bank (I have Barclays and Lloyd's account)
waz96
20 Jun 17#59
who did you open the first account with may i ask?
bayakrefurhost
20 Jun 17#58
I think if they paid everyone £125 a month Halifax will be broke because everyone will switch, even the rich people
hybrid56k
20 Jun 17#57
Can I close the account as soon as I get the £125
vassy1
20 Jun 171#56
Nope I got all done in 5 mins. Unless your some dodgy guy where they would want to verify your identity
willyzippy89
20 Jun 17#55
I didnt have to
Stage 1 i was given/ created an account
Stage 2 filled in the switch form
Now just sitting back and waiting for my sweet sweet 125
ScampiLamp
20 Jun 17#54
I have a help2buy Isa and a joint instant saver account with Halifax. Can I get the bonus still? X
coss9
20 Jun 171#53
£3 a month "reward" if you pay in £750 each month, have 2 direct debits and haven't had a debit balance in the previous calendar month.
coss9
20 Jun 17#52
She may have bent the truth - a £125 switch incentive was also running this time last year.
Narco220
20 Jun 17#51
Looks like you have to apply for a halifax account first then take some id into one of their branches before you can start the switch, so its more hassle than you think!
mattclarkie
20 Jun 171#50
I'd really argue with this exaggerated claim because to do anything truly malicious is 2-Factor as you need to confirm the action via a phone (something you have). My girlfriend also managed to get herself locked out of her online banking for 2 weeks when she forgot her passphrase and had to wait on a letter through the post to get back in. So if somebody steals your money it's not going to be due to the poor security on their online banking.
macamask
20 Jun 17#49
Mine allowed a duplicate account using my credentials, which then merged our current accounts, using their email as security to reset my password, was all a protracted joke, and they literalky said, nothing we can do, just close ur account lol... and that was the end of my halifax experience... somomeone else on here slates the calculater access key things, but they are def the way forward, no one could have got on my account if halifax had used one. Dont know if mine was inside job or not, but they were definatly very laxed.
pshemek
20 Jun 171#48
I opened Halifax account in 2008 and their terms and conditions say you won't receive bonus if you got one since 2012. My bonus was paid in 2008 so I should be getting it again if I switched back cause I haven't received any since 2012.
search4bargin
20 Jun 17#47
Quote from site" Just use the Current Account Switch Service to transfer and close your old account held elsewhere. Available on new and existing Ultimate Reward (£15 monthly fee), Reward or existing Current Accounts only."
astarcg
20 Jun 17#46
Can I still do this if I have a credit card with them?, don't want it to be void as an existing customer
jackie_chan
20 Jun 17#45
is 125 a threshold to switch? halifax gives 0 interest. but my bank santander pay interest and also cashback on direct debits. i don't think it is worth.
quantum77
20 Jun 17#44
can you still get the bonus if you've been a previous account holder?
vodkadavis
20 Jun 17#43
Nope! I switched to this Current Account 2 years ago, absolutely no fees! I've been very happy with Halifax :smile:
jase.2
20 Jun 17#42
No interest on this account at all?
IndyS
20 Jun 17#41
Voted HOT :smile:
Can I switch a newly created bank account to receive the £125 or does it have to be my main account? This would be the 1st time I've ever switched!
search4bargin
20 Jun 17#40
Is there not a £12 monthly fee with this account ?
macamask
20 Jun 171#16
One thing i will say as a past, long term halifax user, their online security is very very poor, i wont go into it here, but be warned and hopefully ill save someone the hasstle i had. It is lacking vastly compared to most other banks imo.
KongDonkey to macamask
20 Jun 171#24
I don't have an issue with it myself. I am glad it doesn't have one of those key pads that some banks use.
I find their online banking site is quite slick. Better than First Direct,Nationwide and Barclays which I also use.
Kingsworth to macamask
20 Jun 171#25
Can you provide any information/proof to support your claim? I work in the industry and you're completely wrong.
I'm guessing your comment is the result of an anecdotal experience.
Spriggan to macamask
20 Jun 17#29
Did a new payment recipient get setup and money transferred to that account without your knowledge by any chance?
Ralph888 to macamask
20 Jun 17#39
My account got hacked via telephone and they changed my address and got cards sent there ( Thamesmead ) They said they wouldn't investigate, apparently the Police dont get involved either. They put me in Cifas mode and I closed down my account. I believe it was an inside job.
jakerushworth
20 Jun 17#38
Halifax are poop
pshemek
20 Jun 17#37
I actually loved Halifax. Recently switched to HSBC and can't wait to switch back already.
hayesw60
20 Jun 17#36
Did you create a new current account and then switch, what bank did you create the account with, is this allowed
I'm with first direct and would rather leave my current account with them for now
agodin
20 Jun 17#32
I am a current Halifax account owner but also have another account with Yorkshire Bank could I switch this one over to Halifax for the Cash incentive?
Thanks
Kingsworth to agodin
20 Jun 17#35
If you haven't received the cash incentive before, yes.
vassy1
20 Jun 171#34
Cheers OP. Created a new account and switched in 5 mins. Straight forward. Got my Halifax account details too..
HarryXD
20 Jun 17#33
I literally just switched yesterday. Will i get the new bonus as the switch isn't complete yet?
kick_u_in_the_nuts
20 Jun 171#31
done the halifax one 3 months ago and then closed the account and now ive done the tsb switch and getting £130
so 230 quid in 3 monts not bad
nemo0104
20 Jun 17#10
anyone know if switching to Halifax will close the one switching from?
sbr40 to nemo0104
20 Jun 171#12
Yes, when you use the CASS the old account is closed automatically.
Shaun2799 to nemo0104
20 Jun 171#30
Yes, in order to get the cash you have to switch using current account switching service which involves closing existing account.
heathead
20 Jun 171#28
A big thank you to the OP. I had an old Santander account that I hadn't used in years. :smile:
RoosterNo1
20 Jun 171#14
New to this, what exactly needs to be done please ? and do banks impose a minimum time limit that you must hold an account before you can swap?
djh1975 to RoosterNo1
20 Jun 171#27
12 months with Halifax then you can switch again. The lady in Halfax today said she switches accounts every 12 months to get free cash. The £125 is the best offer for years, she also said.
djh1975
20 Jun 17#26
I just left Natwest to join Halifax this morning, the £125 will be in my new account next week, thanks OP. :wink:
snowbrow
20 Jun 17#23
Will it work with joint accounts? Thx
m1chaels
20 Jun 171#22
How come the January 2012 date never changes :disappointed:
ice.blade
20 Jun 17#21
My mortgage is coming up in 2 months for renewal, should I switch or not??? any suggestions would be great...will it affect my credit history or my chances of getting good deal from current lender i.e. Halifax?
dudwood_fudwood
20 Jun 17#17
Can someone who has moved banks recently explain how easy this process is please? I haven't changed banks in many years and last time it was a massive chore. Apparently things have changed. Is this true and how easy is it? TIA.
sbr40 to dudwood_fudwood
20 Jun 172#20
It's very easy now, you just fill the standard form out to apply for the current account and as long as it's under the CASS then everything is taken care of for you. Usually the only thing you need to do is inform your employer of your new account number.
HammerTime10
20 Jun 17#3
So for just switching you get £125 without having to deposit every month?
I have a Santander 123 account which i deposit £500 a month and 2 DD's already.
dudwood_fudwood to HammerTime10
20 Jun 17#19
One off payment. Each month would have been very nice!
Mighty.-Mo
20 Jun 17#9
A quick question, I have in the last two weeks opened up another current account to take advantage of these offers because I don't want to switch my long term current account , does the account need to be opened for a specific amount of time before it can be closed for a switch? I understand the point about credit checks in a short period of time so no need to comment on that :smiley:
voodoo85 to Mighty.-Mo
20 Jun 171#18
I often open a new account to take advantage of these, many times the account has only been open a couple of weeks before i then switched away and closed the account.
mikefrom82
20 Jun 17#15
I've just opened an account at TSB about a month ago (not the switch).
Do you think I can do a switch to Halifax?
L0G1C
20 Jun 171#13
No, you get £125 for switching, not every month lol
I think if they paid everyone £125 a month Halifax will be broke because everyone will switch, even the rich people
tonyyeb
20 Jun 172#11
I wouldn't switch to the Halifax even if they... oh hang on...
Otto.uk
20 Jun 17#8
Thank you
hellblazer32
20 Jun 17#7
I switched from Natwest to Halifax and before they had moved my direct debits I already had the £100 incentive in my account!
paul106
20 Jun 17#6
Can't remember if I've had a Halifax account in the last 5 years or not? I've switched so many times now I've lost track! :smile:
Joy_A
20 Jun 171#5
When it says "deposit" is it referring to your salary coming in or a separate one you make?? Probably being a bit special..
Mr.No
20 Jun 171#4
Heat added.
I've got a couple of Nationwide FlexDirect accounts that are just about to lose the 5% interest. Perfect timing.
senor_eggnogs
20 Jun 172#2
TSB are also doing £150 if anyone is interested. Also from personal experience, Halifax are the hassle free when it comes to switching requirement and getting the promised amount for switching paid.
Voted hot.
iAmLegendFam
20 Jun 171#1
Hot hot hot, doesn't require direct debits.
Does the switch service need to be completed by the 31st July or just started before this date?
![Fresh Breakfast Meat Box (Using code) @ Campbells Meat [Haggis / Lorne Sausage / Bacon / Black Pudding & More]](/images/topics/208684_1.jpg)
![[Xbox One] Q. u. b. e: Director's Cut on Deals with Gold](/images/topics/208716_1.jpg)
Opening post
It was previously £75 although it was £100 before that.
To get the cash, new customers need to switch their current account to Halifax using the CASS (Current Account Switching Service) before 31 July 2017.
The £125 switcher bonus is paid into the account before switching completes, within seven working days – that’s pretty quick.
You can’t get the cash if you’ve received another switching incentive from Halifax since January 2012. The deals ends on 31 July 2017.
More free cash
· Customers can earn a further £36 a year paid in 12 x £3 monthly payments if they pay in a minimum of £750 a month, pay two direct debits a month, and remain in credit.
· Online and mobile banking customers can also earn cashback with top retailers with Halifax Cashback Extras.
Alternatives
This deal is only suitable if you’re keen on switching to Halifax in particular. It’s not a bad account – the minimum pay-in is relatively low and you can earn an extra £36 a year by setting up two direct debits and staying in credit.
There are some higher switching incentives but they all come with strings:
HSBC pays £150 plus £50 if you switch to its Advance account and stay for a year, but you need to pay in £1,750 a month.
First Direct pays £100 but you need to pay in £1,000 a month to avoid a £10 fee.
M&S pays up to £185 but it’s in the form of an M&S gift card, not cold hard cash.
In short, this is a decent deal if you’re keen on having a Halifax current account or don’t want to jump through too many hoops to get some extra cash.
Latest comments (149)
Sorry if this is a stupid question but i've never done this before.
i.e I plan on switching TSB to my BOS .
or are BoS offers different to Halifax?
EDIT: Answered reading T&C, account switching from needs to participate in CASS
Btw the £125 has already shown up in the BOS mobile app for the account and I've not even received any details in the post from Halifax yet! :smile:
Thanks again OP.
website. It has great detail and properly researched advice. It is up-to-date and includes this new Halifax bonus.
Specifically http://www.moneysavingexpert.com/banking/compare-best-bank-accounts?utm_source=MSE_Newsletter&utm_medium=email&utm_term=21-Jun-17-33565826&utm_campaign=nt-oneliners-one&utm_content=11#tsbplus
Does this mean I need to have made the account before the 3rd Of Dec?
I'm with Halifax for my savings accounts and the Clarity Mastercard, and have an old cahoot account I should close down really (not used it in years). Will use the CASS to do that for me and earn £125 for the fun of it. Not bad for 5 minute's work. The new account is already in my online portal! Super quick.
My mum is with Bank of Scotland as they have a very nasty problem - if you spend on your debit card the money comes off your account at CLOSE of business so may leave you unexpectedly overdrawn. Also if you have used the overdraft facility, at £1 a day, then that cash ALSO is debited after close of business thus possibly incurring ANOTHER days charge LOL. I imagine that Halifax, pretty much being the same bank and with the same online infrastructure will be the same.
Unlike, say, my bank, which I check online every day - if I have went into the overdraft then I can just transfer money in to remain in credit as all debits come off at the start of the days business!
I'd be happy to hear from more recent applicants who've got the incentive without salary going in.
Free £125. Thanks HUKD!
cheers for any advice given guys :smiley:
Any deals around for people always in overdraft, where you don't have to pay interest charges? That would be better.
Heated
you convert all your bills/payments of finances to direct debit..thats it, if she doesnt have any of those, then she needs to get something on finance....
TSB account blows this out of the water, earning potentially £10 a month
...why is this hot?
WOW a whole £36 a year if i switch and pay £750 a month................
Also, could I just open an account with a different bank and switch that? Don't really wanna close my current account - it's taken me years to remember all the details.
Does anybody have an answer?
can I still swift to Halifax but from another bank (I have Barclays and Lloyd's account)
Stage 1 i was given/ created an account
Stage 2 filled in the switch form
Now just sitting back and waiting for my sweet sweet 125
Can I switch a newly created bank account to receive the £125 or does it have to be my main account? This would be the 1st time I've ever switched!
I find their online banking site is quite slick. Better than First Direct,Nationwide and Barclays which I also use.
I'm guessing your comment is the result of an anecdotal experience.
I'm with first direct and would rather leave my current account with them for now
Thanks
so 230 quid in 3 monts not bad
I have a Santander 123 account which i deposit £500 a month and 2 DD's already.
Do you think I can do a switch to Halifax?
I think if they paid everyone £125 a month Halifax will be broke because everyone will switch, even the rich people
I've got a couple of Nationwide FlexDirect accounts that are just about to lose the 5% interest. Perfect timing.
Voted hot.
Does the switch service need to be completed by the 31st July or just started before this date?