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Thursday 11th of October 2007
June 19, 2007

Halifax Tempts Current Account Switchers

by Gill Montia

Story link: Halifax Tempts Current Account Switchers

Halifax is promoting its current account by offering a £100 bonus to new customers prepared to switch their main current account to any Halifax mainstream account. Such accounts include a high interest current account that pays an impressive 6% on credit balances, and the Halifax Moneyback current account, which charges interest of 6.9% on authorised overdrafts. Customers who apply for a Halifax One credit card within 30 days of switching their current account will receive an additional £25, providing they make a balance transfer of over £1,000 in the first 90 days.

Moneyfacts.co.uk, the price comparison website, has reported strong competition amongst High Street banks vying for new current account customers. This is partly because of the opportunity created to sell additional products and services. Cash incentives for current account switchers are being offered by First Direct and Alliance & Leicester, whilst Abbey and Barclays both offer enhanced credit or debit interest rates. In the case of HSBC, new current account customers will receive £10 for any mistakes made during the switching process. Such errors could include incorrect direct debit transfers and delays in providing bank cards.

 

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