Halifax Extras Current Account Review

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1.8 stars
Average rating for this product is: 1.8 out of 5

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mattybboy100's Review of Halifax Extras Current Account

22nd Jun 2009

Overall Rating

2.5 stars
  • Customer Service
    2.5 stars
  • Ease of use
    1.5 stars
Good Points

Arranged Overdraft of £300 with no charge. Obviously gets you into more debt, something I wish to avoid.

£5 paid into account if you deposit £100 a month. Not sure if this has to be one deposit of £1000 or comulative amounts.


Bad Points

£12.50 a month fee, £7.50 if you take off the £5 payment for a deposit of £100.


General Comments

I applied to Halifax after 10 years of having their Visa Electron account. I have a bad credit history and everytime I have been in the bank (I do most of my banking online) I am always offered to upgrade my account but due to poor credit have never been successful. Last month there was an "upgrade this account" button on the website so I clicked it. It took all my details then about 4 days later there was a new account online. I got a letter from the Halifax stating that to upgrade, I had to send them proof of ID and proof of signature. I also have to deposit £100 in the account before they will send me a debit card.

It states if you deposit £1000 in the account per month you will receive £5. That sounds all well and good, but the account costs £12.50 a month.

There are so called benefits such as travel insurance etc, discount from a florist and the list goes on, many things which I probably wouldn't use and even if I did, I could probably get cheaper prices online i.e. without the bank receiving some kind of comission for being the middle man!

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LenderAccountDescriptionInterestAEROverdraft  
Overdraft RateOverdraft Limit
Alliance & LeicesterPremier Direct AccountEarn a great rate of 6% AER (fixed for one year) on balances up to £2,500.Monthly6.00%0.00%£2,000.00
Alliance & LeicesterPremier CurrentEnjoy Free annual multi-trip European travel insurance and earn 0.50% AER on balances up to £2,500.Monthly0.50%0.00%£2,000.00
NatwestNatwest Advantage Gold AccountEnjoy benefits worth up to £704 for just £12.95 a month. Including Mobile phone cover, Travel Insurance and even tailored rates on other Natwest products.Monthly0.25%18.49%n/a