Halifax offers £100 for switching accounts
Halifax is offering new customers £100 if they switch their current account to the bank.
The offer, which is available until 15 July, pays new customers £100 on the day that they start the switching process. This is in contrast to switching offers from other banks that don't pay until the switch is complete.
If you switch to the Halifax Reward Account, on top of the £100 bonus you'll also receive £5 every month that you credit £1,000 into the account.
Loyalty doesn't pay
Halifax current accounts are proving popular with customers as Britain finally wakes up to the notion of abandoning bank loyalty in favour of a better deal.
In the first three months of 2012 more than 80,000 people switched their current account to Halifax, double the number during the same period last year.
"This shows that customers are being savvier, more mobile, and are willing to change their accounts when it makes them better off," says Anthony Warrington, director of current accounts at Halifax.
An account opened with a clearing bank (few building societies offer current accounts) that provides the ability to draw cash (usually via a debit card) or cheques from the account. Some pay fairly minimal rates of interest if the account is in credit. Most current accounts insist your monthly income (salary or pension) is paid directly in each month and they offer a number of optional services – such as overdrafts and charge cards – which are negotiable but will incur fees.