I am, in banking terms, a relatively new customer of Halifax bank having had a current account with them for two years now. I've heard the saying that people are more likely to get divorced than change their bank accounts and I do think there's a certain amount of truth in that, as most of ... Read review
Advantages: Market leading financial products, good online banking Disadvantages: Poor customer service in branch, over selling of products
...a relatively new customer of Halifax bank having had a current account with them for two years now. I've heard the saying that people are more likely to get divorced than change their bank accounts and I do think there's a certain amount of truth in that, as most of us are guilty of apathy when it comes to our personal finance. It just so happened that Halifax were offering a bribe, I mean 'new customer incentive', of £100 at the time I was looking ... ...High Interest current account with Halifax back in 2007. I opened the account online which seemed relatively straightforward at the time and then received all the relevant paperwork through the post within a matter of days. The £100 incentive that had attracted me to the account in the first place was dependent on a number of conditions being met within a set timescale.
One of the conditions was that I needed to use Halifax's own ... more
I am, in banking terms, a relatively new customer of Halifax bank having had a current account with them for two years now. I've heard the saying that people are more likely to get divorced than change their bank accounts and I do think there's a certain amount of truth in that, as most of us are guilty of apathy when it comes to our personal finance. It just so happened that Halifax were offering a bribe, I mean 'new customer incentive', of £100 at the time I was looking for a joint current account after getting married and a new fiscal relationship was born!
I actually opened what was then a High Interest current account with Halifax back in 2007. I opened the account online which seemed relatively straightforward at the time and then received all the relevant paperwork through the post within a matter of days. The £100 incentive that had attracted me to the account in the first place was dependent on a number of conditions being met within a set timescale.
One of the conditions was that I needed to use Halifax's own 'switching service' to transfer direct debits and standing orders from my previous current account. This took about a month to process altogether and wasn't a totally seamless transition by any means, as one of my direct debits somehow went astray and never actually made the trip over to my new Halifax account (and to this day is still debited from my old A&L account!) I also needed to credit the account with a minimum of £1000 each month to qualify for the incentive money. Provided all of this was complied with by the specified timescales, I was assured that £100 would be credited into the account after three months of funding the account with at least £1000 per month.
Well, three months came and went and...no money. I am lucky enough to have a local Halifax branch within easy reach so I asked in there and was assured that all the conditions had been met and that the money would be in my account shortly. A month or so later, still nothing and a further fruitless trip into the branch ensued. I actually made four seperate visits to the branch and each time I was assured that the missing incentive payment would be 'looked into' and would be paid 'shortly' and I was also promised telephone calls back that never materialised either.
It was actually well over six months after opening my Halifax account that I began to lose hope of ever receiving the £100 incentive money but I thought one last ditch attempt was in order. I eventually made a complaint in writing to the main Customer Relations Office in Leeds, having become totally frustrated with the customer service in branch over this issue. This was obviously a more effective strategy as I received written acknowledgement of the complaint, a follow up telephone call and, most importantly, the long-awaited cash within a couple of weeks of making the complaint. It's unfortunate that my issues needed to go that far in the first place but I certainly couldn't criticise the way (and speed) in which my complaint was resolved.
Despite a fairly inauspicious start to this banking relationship, I am generally pleased with the Halifax as a bank overall. I tend to keep visits in branch to a minimum and use it purely to deposit cash and cheques as Halifax are one of the worst culprits for trying to push additional products or services. Whenever I go to a cashier I will be told about the latest mortgage offer available or the current offer on credit cards or savings accounts. I appreciate that banks are a business and need to maximise profits but it is irritating being targeted in this fashion (particularly as the offers promoted are rarely market-leading and I could almost certainly find a better offer elsewhere.)
Thankfully, Halifax current accounts can be accessed online. The whole setting up and accessing of the online banking service is very straightforward and I have never had any issues or difficulties with the online service. I also use Alliance & Leicester online banking and, of the two, I much prefer Halifax. For one reason, my log-in details include letters and numbers and I find that much easier to remember rather than the totally random eight digit number provided by A&L.
As well as my own account, I have subsequently opened savings accounts for both my children through the Halifax. This was not through blind customer loyalty but because the children's savings account offered the highest interest rate at the time. I have opened both the 'Save4It' children's savings account, which can be opened with just £1 and includes a free money box as well as 'Regular savings' accounts for children. The Regular savings account is still available and (as at June 2009) still pays an impressive 6% fixed rate of interest. The catch is that you have to pay in between £10-£100 per month for a year. I've only got one minor criticism about my experience with the children's accounts and that is over tax. As non-tax payers, they are entitled to receive their interest tax free. I was assured, when opening the most recent account for my youngest son, that his tax status would be updated via their computer systems and that I no longer had to fill in a seperate form. I should know by now not to take such assurances for granted from Halifax branch staff as, lo and behold, he was taxed on his interest! I knew I should have just filled in the bloody form regardless of what they were telling me!
I've recently switched our supposedly High Interest current account, which had seen its interest rate plummet from 6% down to next to nothing, over to a Reward account. This is the account that has been very heavily promoted recently as it pays a pretty generous £5 (net of tax) per account, every month, providing at least £1000 is paid in every month. The catch - yes, there's always a catch - is that there is a set fee of £1 per day for every day that the account is overdrawn so, if you don't keep on top of your finances, the account could actually end up costing you a small fortune.
Switching over from one Halifax account to another should be a pretty straightforward process but it's actually taken several weeks to sort out the whole process. (I had to make an appointment in branch to 'discuss my needs' - ie: sit there while an advisor tried to sell me other Halifax products.) I also had to bring a form home for my husband to sign, as we have a joint account. I handed this back in to the branch a week later, only to later discover that the form had been mislaid and had to complete another. This time I was told by the advisor to hand the form back to him personally. How reassuring that he has such little faith in his colleagues! Nice to know that these people are looking after my money!
All in all, I do feel that the Halifax is a market leader in terms of a some of the financial products available but their customer service in branch still leaves a lot of room for improvement. Thankfully, their online banking fulfills most of my banking needs!
Advantages: Great service Disadvantages: hard sell!
...been a memeber of the Halifax since I was born and my parents opened a savings account for me, that's 22 years now! In this time I have had a number of different accounts with them. For the purpose of this opinion I will concentrate on my current account.
Well, my current account was first opened when I was about 17 and gave me that little bit more flexibility with a cashcard and cheque book (previously I'd had to use a pass book and queue at the ... ...have to do anything, the Halifax already had all my details and I had been satisfied with their service. The interest on my student account (yes, it was in credit!!) wasn't very high (around 2%) but the account was flexible and I could have a credit card to match my switch card and complete the set!! My grant cheque was always paid in as cash so I didn't have to wait for anything to clear which I thought was a nice gesture.
Now that I'm no longer ...
JoMerrington 02.09.2001
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Ciao members have rated this review on average: very helpful Review of Halifax Accounts
ISA is an Individual Savings Account. You could ask:” So every account is individual anyway, what is so special that people keep talking about it?” Well, it is tax-free, and if you’re resident in UK and your age is 18 or above you are allowed to have one. There are three different kinds of ISAs that you can pick and choose, equities, cash, or insurance. The advantage in have an ISA is that you get all the interest tax free, which ... ...there are three different kinds of ISAs, that’s correct, but they are divided in Maxi ISA or Mini ISA and in both cases the maximum amount permitted to invest is £7.000 pounds.
When you invest in Maxi the maximum amount that you can invest is £7.000 pounds, we are talking in investment so you could ask:” What sort of investment is the Maxi ISA?” Good question! They are shares, bonds. The limit to invest in shares is £7.000, but ...
1234 26.02.2001
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Ciao members have rated this review on average: very helpful Review of Halifax Accounts
Advantages: Online Account Opening Disadvantages: Still have to go to a branch to activate
My partner and I have had difficulty in the past with credit which thankfully behind us but as anyone in that situation knows, your credit history is damaged.
All too often banks, loan companies and other credit lenders are too quick to judge a person by their credit file.
My partner had been a member of a well known Building Society for nearly twenty years and never had a problem with getting an overdraft. Then unfortunately we hit some financial ... ...four years ago and we are both now very financially secure. We applied to our bank for an overdraft and was refused. We felt as though the past twenty years had counted for nothing and they were only interested in the information supplied by the Credit Reference Agency and did not take into account any mitigating circumstances.
This annoyed us both and we started to shop around for other High Street accounts that we could convert to.
After being ...
DavidWilcox 07.09.2002
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Ciao members have rated this review on average: very helpful Review of Halifax Accounts
Advantages: Courteous staff, hardly any queues, great advice and huge range of financial products Disadvantages: no late openings
I joined the Halifax after switching from Abbey, who I had switched from s**** Barclays. Barclays in Milton Keynes probably have the worst customer service in the world so I told the to get stuffed. I went to Abbey as they were offering a high rate of interest on current accounts however after 1 year they dropped this to 0.1%.
I thought, well if the new joiners are getting 8% and I get a slap in the face with a wet kipper, I'm off.
I went to the ... ...Saturday morning (convenient). They interviewed and listening to all my circumstances, how much I had to invest, what my lifestyle expenses were, etc. They recommeded a Ultimate Reward Current Account. This costs £10 pm BUT you get 6.17% interest on the first £2500, worldwide multi-trip travel insurance which I need, RAC breakdown cover so that saves me a few bob, mobile insurance (and that alone pays for the account!) plus vouchers, airport lounges, ...
jtamagnini 29.09.2007
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Ciao members have rated this review on average: very helpful Review of Halifax Accounts
Advantages: 1% Moneyback Disadvantages: Poor interest rate on credit balances
...found once upon a time:-The Halifax Moneyback Current Account.
The Halifax\Moneyback Current Account is basically a current account+ Debit card which gives you cash back for using it.
If you are a person like me, who is wary of the Credit card ( simply because you are spending what you do not have, and so keeping a limit to expenditure becomes increasingly difficult), then the next best thing to hard cash is a Current Account with a Debit Card.
... ...your current account to halifax before the 11th of August 2007, then halifax will put in £100 pounds just for joining.
( source-halifax website)
-- The 1% moneyback is ideal for customers who can pay in at least £1000 pounds per month.
Tip 1.- You can deposit and take the money back any time during the month. Also the £1000 need not be put in altogether, so even if you think you cant afford it, you really can!!
Point To Remember The Moneyback ...
liana3030 09.07.2007
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Ciao members have rated this review on average: very helpful Review of Halifax Accounts
Efficiency of service
Competitiveness of char...
Online - Content/organi...
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Ciao members have rated this review on average: somewhat helpful Review of Halifax
