Halifax High Interest Current Account

J

Joe Nonety

Registered User
Messages
418
Customers who open a Halifax Current Account and put €1,500 into their account each month will receive 10%* credit interest on their balance up to €2,000!
Other great product features include:
  • Fee free banking on everyday transactions
  • Free "switcher" overdraft for 3 months*
  • Competitive overdraft rate of 9.5% APR*
  • Easy switching process
  • Free online and telephone banking
* Applies to accounts which meet the minimum monthly funding amount of €1,500. Credit Interest of 10.47% EAR and authorised overdraft of 9.43% APR. If you choose not to fund your account with €1,500 per month the credit interest rate will be 0.1% EAR and the overdraft interest rate will be 13.5% APR. Switcher overdraft is subject to a maximum limit of €1,500. Credit interest is subject to DIRT. Terms and Conditions apply. Interest rates are variable and correct as at 18/04/2007.
Click to expand...

Most noteable aspect for me is how they haven't mentioned how long the 10% rate will last.
 
From their [broken link removed]:

Unlike other banks, the no-catch Halifax Current Account’s interest rate is not an introductory offer but will continue to reward customers as long as they fund the account with €1,500 each month (see comparison table below).

Also: The new Current Account product is a first for Halifax in Ireland and will be available to customers on 21st May.
 
This is very impressive...provided you fulfill the not particularly onerous conditions they'll pay you €200 per annum in interest.
Fair play to them
 
Hi,

Im new to the forum - am sick of paying enormous fees to my current bank & getting nothing back. Why is it that banks reward new customers and not the old customers who have been with them for years??

Heard the ad for the new Halifax current account - went to their website to check it out but is it all empty promises?
 
Just wondering if anyone has any experience with their online banking?

Going by their branch map at [broken link removed] they've only one branch in most counties. I wonder if they've a lot more branches planned as this offer will surely make them very popular.
 
happy_chick said:
Im new to the forum - am sick of paying enormous fees to my current bank
Click to expand...
Whatever about getting current account interest why on earth are you paying charges at all in this day and age?! Just check out [broken link removed] for details of many current accounts that are free of most or all transaction charges.
 
According to their website [broken link removed] online banking will be launched when their current account is

Theyre a new bank, are they? I've seen there ads all over the place
 
They are relatively new to the Irish market but are a long standing player in the UK. If you want transaction free current account banking with interest on certain balances (subject to terms & conditions) then you don't have to wait. For example [broken link removed] already offer this. There may be other similar offers available right now.
 
AIB also...11% for 3 months falling to 4% on balances of €1500. AER 5.81% I think! Free banking if you fulfill two pretty loose conditions (use a laser card once a quarter and pay a bill online once a quarter if I'm not mistaken?)
 
I think I get nabbed for using my laser card too much - was signed up for a graduate account with AIB but have been getting fees taken outta my account for the last year or so

Maybe I should ring them and tell them im going to switch to a Halifax current account and see what deal they'll give me!
 
Are you actually reading these posts? You don't have to depend on Halifax since there are lots of transaction free current account banking offers out there some of which also pay interest on certain balances to which you can switch without any major hassle!
 
If transaction fees are bothering you - and there is no reason to pay them these days - then ask your existing bank if they have a transaction fee free option that they can switch you to. I had to do this with PTSB because I had a current account that predated their fee free one and I got hit with the odd charge from time to time until they suggested that I switch. If your bank does not have such a product then go to one of the other banks for transaction fee free banking (and current account interest if applicable and desired).
 
I just hope that next to what they say on the webpage they will offer

  1. Visa/Mastercard Debit Card linked to the account (rather than an outdated Laser system) so that you can pay worldwide with it
  2. Online International Transfer (The clause about national transfer free might suggest that international might not be available online)
  3. Free withdraw on Halifax/Bank of Scotland Cash Machines in the UK, when you are forced to use £ (obviously the currency conversion charge still applies)
One can dream.
 
so thes best thing to do is suss out if they have a transaction fee free option and if they dont just switch to one that does?
 
to be honest its alot of money to be putting aside each month and alot of T&Cs to adhear to, i find prize bonds has a better overall return
 
funnygirl said:
to be honest its alot of money to be putting aside each month and alot of T&Cs to adhear to, i find prize bonds has a better overall return
Click to expand...

:confused:

You are not putting aside money every month - it's not a Regular Savings account. You are required to have a lodgement of > Eur 1500 per month. For the majority of people, they will have their salary paid into the account, thus fulfilling the requirement to receive the 10% interest. This money can then be transferred / spent as required during the month.
 
funnygirl said:
to be honest its alot of money to be putting aside each month and alot of T&Cs to adhear to
Click to expand...
I tend to agree and consider the new interest bearing current accounts grand as a bonus if you happen to meet the necessary terms & conditions but a bit of a gimmick otherwise. Good to see some new competition and product development in the market though.
i find prize bonds has a better overall return
Click to expand...
The "return" on Prize Bonds is purely down to luck. Many people will earn nothing on them and their money will be eroded with inflation. No harm in buying a few to be in the draw but I certainly would not consider them a key part of an overall well diversified portfolio never mind a place to put a chunk of cash other than for a short period maybe.
 
You must log in or register to reply here.
Back
Top