Current Accounts

[ZeroG]

I've had my current account with Clydesdale bank for 17 years now. Initially opened it for my student loan to go into and I've kept it ever since and I've not really thought about it. I've been thinking of switching recently and just seen an advert for Halifax where you can get £125 for switching to them and their reward account you get £5 each month. You only have to pay in £750 each month, pay out 2 different direct debits and stay in credit.

My current account doesn't give me any benefits, the only good thing about it really is I have a Mastercard debit card with contactless payment option.

Anyone have any experience with Halifax or are there any other better alternatives out there?

 

[scorchisio]

halifax is better and has cheaper overdraft fees, take the free money and switch.

 

[djcj]

I've just switched to first direct 2 days ago as they are offering £125 too.

 

[Vanquish-Storm]

Halifax is a crap bank - treated me like crap and I would never trust them with my money again.

http://www.moneysavingexpert.com/banking/compare-best-bank-accounts

I went with the TSB account recently.

 

[scorchisio]

The credit check for first direct is quite strict. I was declined and I've never missed a payment on anything. Likely due to fact I'm regularly in an overdraft.

 

[cadmunkey]

First Direct or nothing imo

 

[.:MBK:.]

probably a really dumb question but with firstdirect do you qualify if you are an HSBC customer?

nothing jumped out in the fine print but i know all the credit card perks are linked amongst the group but wasnt sure if the banking was as well

 

[Woden]

I switched from HSBC to RBS just this week. Coincidentally, the switching service text me today to day it was finished.

Had enough of HSBC, their customer service is a shambles.

Went with their £16pm platinum account, the travel insurance (me, wife and kid) will be very handy, as well the mobile insurance.

 

[A2Z]

I've had my Natwest account for years and years but never switched as I still have my original £1600 overdraft I had when I went to uni. Don't go into it anymore but still a nice feeling to have it there.

 

[Tefal]

If you qualify the santandare 123 account is brilliant.

For direct debits just use a credit card set to pay off minimum/full or whatever you dont need to use it as it still counts as an active debit

 

[Freakbro]

Amended quote from another thread

Santander do 3% up to £20k
Nationwide do 5% up to £2.5k
Lloyds do 4% up to £5k
TSB do 5% up to £2k
Tesco do 3% up to £3k
Bank of Scotland 3% up to 5K
Halifax £5 / month

They are the best ones for interest on a current account, just check their requirements - they range from none (Tesco) to X amount paid in and X D/D's

And depending how much cash you have to spread between them, you can open them all and cycle the same money through each to trigger the reward

 

[ristac]

First Direct UK based support staff, excellent customer services, wouldn't consider moving away from them for £250 not alone £125

 

[Haggisman]

I switched to Halifax just under a year ago for that reward account.

Mostly went smoothly, completed within a week, except there was a bit of a glitch with the £125 incentive and I got paid £100 (temporarily) instead. This was because I completed the application just before they reduced the incentive amount, but my actual switch date was just afterwards.

Sorted it out in one phone call and got paid the extra (although the woman on the phone was a bit rude and condescending).

Their internet banking & app are pretty good; clear and easy to use, and you can get some cashback from selected retailers when using the card as well (although how useful this is for you depends on whether there are any relevant retailers, I've not really used it much except for a couple of offers on Just Eat & Hungry House ).

 

[McBain]

Switch to First Direct, you might not get the £5 a month but their top notch service makes up for that imo.

It's not as good as it was a couple of years ago mind. Back then calling them you'd be answered within literally the first ring. Nowadays you do queue, but only for a couple of minutes (depending on the time of day you ring obviously).

I would never switch to Halifax out of principle, purely because their adverts back in the day were absolutely horrendous

 

[tcfreer]

Not thought of the Co-Op?

 

[Shoza]

As said on here many times before - First Direct or nothing.

Customer service is consistently top ranked every year by a large margin.

 

[Freakbro]

How often do you guys contact your banks?

With internet banking I can't say I contact any of them more than a couple of times a year and they are all fine, just depends who you get (and I have 7 current accounts) so personally free money > customer service I don't use.

 

[the-evaluator]

First Direct or nothing imo

Agreed. An excellent bank.

 

[the-evaluator]

How often do you guys contact your banks?

With internet banking I can't say I contact any of them more than a couple of times a year and they are all fine, just depends who you get (and I have 7 current accounts) so personally free money > customer service I don't use.

Rarely but when I do contact First Direct I'm always happy with the service I get.

A few weeks ago I needed to make a large cash withdrawl so I called First Direct to arrange. They had to put me through to HSBC and there was a marked difference in the service between the 2 banks. Also a big difference in the quality of the phone line too. My other half is with HSBC and often has trouble hearing the person on the other end of the phone because the phone line is quite poor.

 

[the-evaluator]

probably a really dumb question but with firstdirect do you qualify if you are an HSBC customer?

nothing jumped out in the fine print but i know all the credit card perks are linked amongst the group but wasnt sure if the banking was as well

Not automatically, you still have to go through the same checks.