| Halifax to launch new current account |
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| 15 December 2008 | |
 Halifax is launching a new current account, the Halifax Reward Current Account, which from 9 February next year will replace the group's existing interest (credit/debit) and fee structure with a new approach based on simplicity and what it calls an even better deal for customers.For the new account, credit interest will be replaced by set net cash payments after tax of £5 per month, irrespective of balance, when accounts are funded with at least £1,000 a month.
Traditional arranged and unarranged overdraft fees and interest rates will be replaced with a daily fee. Customers using an arranged overdraft of up to £2,500 will be charged £1 per day for each day they use their overdraft. For those using an arranged overdraft of over £2,500 a charge of £2 per day will be applied for each day they use their overdraft.
Customers who use an unarranged overdraft will be charged £5 each day they are over limit. We will write to customers immediately to inform them that they have exceeded their arranged limit and again every seven days after they remain over limit.
"Our new Reward Current Account is simple and easy to understand. Customers are regularly rewarded with the potential to earn as much as £60 a year banking with the Halifax," said Mike Regnier, Halifax head of banking. Tag this article :     |
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