I’ve been banking with Barclays Bank for more than 12 years now and during that time the only other account I had was a Liquid Gold Account with Leeds Building Society. About five or six years ago Leeds Building Society merged with Halifax ~ a merger that suited me nicely seeing that I was given Halifax Plc shares, a total value of around £2,000. All Leeds branches closed down and all existing account members were taken over by Halifax. My initial reaction was to close my account and sell my shares, after all I was more than happy with Barclays Bank and so there was really no need to look elsewhere to invest my money.
Despite the merger I decided to give Halifax a go, I didn’t cash in my shares and my existing Leeds account got converted into a Halifax Current account. ~ So after six years of banking with Halifax Plc I can gladly say that I am more than a satisfied customer. The merger has doubled if not trebled the number of their customers & more importantly they are now more than capable to compete with other high street banks ~ Since the launch of the merger Halifax Plc has developed into a major force in the financial industry, growing from strength to strength & improving all the time. As an existing current account holder, credit card holder, shares as well as previous loan applications with Halifax, I feel I know enough to give you the readers a better insight into Halifax Plc.
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/>• ~ Take a good LOOK at these facts ~ •
===============================• ~ More customers than any other bank in the U.K
• ~ Largest provider of housing finance
• ~ The only high street bank to offer 4% on current accounts
• ~ Has sold more ISAs than anyone else
• ~ Market leader
in UK household savings
Facts & statistics speaks volumes ~ The Halifax Current Account is proof of that, while other high-street banks give a miserly 0.1% on current account balances, Halifax will give you 40 times that amount & it doesn’t just end there ~ You can open a current account with 4% interest & a £100 overdraft absolutely free. Existing members like myself can still enjoy these amazing new terms by phoning Halifax Direct and they in return will do the rest.
If you belong to another bank & you want to open a current account with Halifax then it couldn’t be any simpler ~ My boyfriend banked with Abbey National & after three years of unsatisfactory customer service he decided to switch his current account to Halifax. Switching was easy ~ just hand over your existing bank details and they do the rest. They sort out all your direct debits, standing orders etc.. , It was handled in a professional manner without any problems. You can also benefit from 24-hour access to your money through Halifax’s telephone and online banking services ~ You also have a nationwide network of cash machines & a branch network that stretches across the UK ~ Halifax Plc must be doing something right because these facts make an impressive reading.
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• ~ Halifax Current Account Features ~ •
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• ~ 24 Hour Telephone Banking
• ~ Online Banking
• ~ Overdraft Facility
• ~ Free access to all Halifax & HSBC machines
• ~ Access to cash machines whilst abroad
• ~ Switch/cheque guarantee card
• ~ Cheque Book
• ~ Set up direct debits/standing orders
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• ~ Halifax 24/7 ~ •
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If the internet is more your style, you’ll find all Halifax products online ~ You can manage your money when it suits you, day or night. You’ll also find a wide range of online accounts & services including Web saver ~ a unique internet savings service that you can manage yourself. Easy to navigate and security is excellent. If you want to check the site out then log on to – www.halifax.co.uk
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• ~ Wider choice of credit cards ~ •
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Halifax has a wider choice of credit cards than any other provider ~ one to suit your life style.
• ~ Halifax Platinum & Gold Cards ~ These cards offer a very low balance transfer rates.
Platinum Card ~ 2.9% , the lowest rate on the high street.
Gold Card ~ 3.9%
Both cards come with an individually assigned limit of up to £25,000. There is no annual fee & you also get free purchase protection & travel cover ~ giving you that extra spending power when you need it.
• ~ Halifax Cash back cards ~ available in Platinum/Gold & Classic versions ~ these cards give you a full 1% cash back on all your purchases.
The new improve credit cards on offer are something many customers can benefit form ~ If you feel you have outgrown your existing credit card then you can always change to one that suits your circumstances.
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• ~ Share Dealing ~ •
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When Leeds Building society merged with Halifax I was given shares ~ Instead of cashing them in I decided to keep them. As a Halifax shareholder I own part of the business & this entitles me to a share of the profits Halifax Plc make over the year. In other words I am paid a dividend of the profits ~ dividends are distributed to all shareholders twice a year. Selling & buying shares with Halifax couldn’t be any simpler ~ a simple phone call quoting your policy number & they take care of the rest. You are kept up to date of the value of your shares by being sent two statements a year & if you are one of those people that like to check how your shares are doing on a daily basis then you have the option of calling the general shareholder enquiry line. This line will give you the value of shares as they fluctuate on a daily basis.
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• ~ Other Services ~ •
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Halifax Plc has everything you need to manage your money ~ An extensive range of products & services :
• ~ Personal Loans
• ~ Savings & Investments
• ~ Mortgages
• ~ Insurance
• ~ Share Dealing
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• ~ Customer Service ~ •
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Like most banks they only show their true colours when things are not so good, so long as you keep your account in good shape & pay what you have to pay then everything is hunky dorrey (Spelt wrong I know – someone please leave the right spelling in my GB, much appreciated). Its not until you experience a problem with your bank that you begin to understand how good & efficient their customer service really is ~ about three years ago my bag was stolen on the train, my cheque book, Switch Card, Halifax Visa card was taken.
It took a simple phone call to get things sorted out ~ A polite & positive response is what I got, a few questions is all it took & in just a few days I received my new credit/switch card, and a few days after that my cheque book arrived. I was very impressed at how quick and efficient & more importantly how understanding they were. Since then I have not seen any slack in customer service ~ on the contrary each year Halifax aim to deliver significant improvements in all areas one of them being customer service.
This is evident when walking into any of their high street branches ~ A professional outlook, a pleasing & friendly smile, experienced staff who give sound advice on how to save money on personal loans & credit cards ~ Basically, excellent customer service both on the phone & in person. Problems do not seem so much of a problem anymore as I know I am dealing with professional people who have proven to me in the past how excellent their customer service is.
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• ~ Bottom Line ~ •
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The bottom line is that had it not been for the merger I guess I would never of bothered with Halifax ~ Looking back on it now I’m glad I never cashed in my shares and decided to give them a go. I can seriously find no fault with this bank, it measures highly with my favourite (Barclays Bank) and trust me that is not a bad thing at all. Overall 10/10 – If you haven’t got a bank account the Halifax Plc is a good place to start – check them out because you will be surprised at the array of savings & investment accounts on offer.
Highly Recommend!!
Thanks for reading … © Versatile 2002
by (1%):
23.06.2005 16:25
Great Review, i have just started banking with them.
18.07.2004 16:47
Excellent Review - I just hope you don't still have your Liquid Gold account - it pays 0.5% gross! Also, you may not know that you can now use most cash machines in the UK free of charge now if you bank anywhere - so for example I bank with Abbey and can use a Barclays machine free of charge. Just be wary of Alliance & Leicester machines - some charge, some don't, and those in shops and pubs - they charge too! Well done.
15.08.2003 20:02
Wow good op. I tried going in Halifax today but they were too busy, and so I went elsewhere.