Voice Of Post

Could you earn £185 this year from your current account? Halifax offers new customers £125 and £5 monthly payments - but it's a limited offer!, New current account customers at Halifax will now be paid £125 after the provider upped its introductory sweetener from £100 for a limited time.

Until 5 April 2015, customers will receive the lump sum payment when they swap their main current account to Halifax using its dedicated switching service and close their old account.The £125 is paid within three working days of a successful transfer.

The Halifax deal is now the best cash sweetener on offer after First Direct dropped its introductory payment from £125 to £100.

But customers considering a move may also want to consider more than just the cash, as First Direct regularly comes out top in customer satisfaction surveys.

Those switching to the provider's three current accounts - Current, Reward and paid-for Ultimate Reward - will be eligible for the one-off payment.

But those signed up to the Reward account could earn even more money - it is a free current account which gives customers £5 for each month that they pay in £750, pay out two different direct debits, and stay in credit.
Overall, Reward Account customers can earn £185 during the first year - arguably now the most lucrative deal in the current account market for the first 12 months.

However, although the period of time you’ll get the £5 a month for is currently indefinite, Halifax reserves the right to change this at a later date if it chooses to.

Overdraft charges on the account are high – up to £3 a day on planned balances of £3,000 and above. Unplanned overdrafts cost £5 a day.

Halifax customers from all accounts can also earn cashback when they spend online or using their mobile via its rewards scheme,Cashback Extras.

Anthony Warrington, of Halifax, says: 'Since its introduction our £100 switching offer has remained extremely popular with customers. We are delighted that from today we are increasing this reward for customers to £125 for a limited period.”

'Halifax has proven to be the number one choice for one in every four switches across the industry, and with this new offer it means it has never been so easy and rewarding to make that move.'