Have you ever considered switching your bank account? Now could be the time for you to do just that.
First Direct are offering £100 for customers who switch while Halifax will stump up £50. Both banks have previously offered money for switching customers – but both have now lowered the monthly amount you have to pay into their account each month to qualify.
Switching Your Bank Account
First Direct
First Direct slashed its monthly minimum requirement from £1,500 to £1,000 for both existing and new customers. This applies to their First Account. Included in the account are offers like:
- £250 interest-free overdraft
- 24 hours customer service, seven days a week
- An ‘Easyswitch’ system to seamlessly transfer all your existing direct debits and payments to your new current account.
First Direct frequently come top of polls for best customer service, so switching should be a minimum of fuss.
Halifax
Halifax Reward Current Account holders (from the 1 May 2013) only have to pay in £750 per month (previously you had to pay in at least £1,000 a month).
In addition the account offers:
- Fee-free overdraft for 6 months
- 24 hours customer service, seven days a week
- £5 monthly reward for each month you deposit £1,000 or more. (This is on top of the £50 switching reward).
Don’t be put off switching accounts
Switching accounts is an easier process than ever before. Your new bank should arrange for direct debits and standing orders to be transferred to your new bank with a minimum of hassle. But before you switch, always make sure the account you’re switching to is right for you.
For example, do you need extras like overdrafts? How much does that extra £5 in your account mean to you? Does the bank offer adequate ATMs and good customer service?
But before you switch, always make sure the account you’re switching to is right for you
Keep an eye out on our website for the latest news on current account offers and remember these simple five steps to switch your account:
- Keep a priority checklist in mind before you decide which account to go for. If you sometimes go overdrawn, for example, then an account that offers a decent overdraft is your priority.
- Choose a switching date and inform both your current bank and the bank you wish to transfer to. Select a date that doesn’t clash with important payments.
- Make a list of your direct debit and standing order details. Your new bank will need them.
- Keep your employer informed about the change in the bank account status.
- Switch to a better account! Your new bank will let you know when the switch has been completed.
