BACS: Halifax is the most switched to bank on the high street since the introduction of the Current Account Switch Service (CASS)

LONDON, 25-Jul-2016 — /EuropaWire/ — According to official figures released today by BACS, Halifax is the most switched to bank on the high street. The data, published six months in arrears shows that over 460,000 customers have now switched to Halifax since the introduction of the Current Account Switch Service (CASS). The latest figures show Halifax has a net gain of over 31,000 new customers between October and December 2015, more than any other bank or building society.

Russell Galley, Managing Director, Halifax said:

“The Halifax Reward Current Account gifts eligible customers £5 per month, whilst some other banks charge a monthly fee. With so many customers choosing to switch to Halifax, it’s clear that the £5 monthly reward, along with £100 bonus paid as soon as the switch completes¹, is one of the most rewarding and straight-forward switches on offer.”

An extra rewarding switch

Customers who switch to the Halifax Reward Current Account can earn over £160 during the first year, making a switch to Halifax one of the most rewarding over the course of the first 12 months. This includes:

• £100 switching bonus, paid within three working days of the completion when customers use the CASS
• A further £60 per year through 12 x £5 monthly reward payments when customers pay in £750, pay out two direct debits, and stay in credit each month
• Online and mobile banking customers can also earn cashback with top retailers with Cashback Extras*

ENDS

Notes to editor:
1 The £100 switching offer will be paid directly into customer’s account within three working days once the switch has completed. However, the majority of customer will find they receive the reward on the first working day.

About the Reward Account:
The Halifax Reward Current Account 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. In addition, customers can earn cashback on offers when they spend using their debit card through Cashback Extras – an exclusive for Online Banking customers.

About Cashback Extras

• You must be a current account customer aged 18+.
• You must be registered for both Halifax Online Banking and Cashback Extras.
• You must have a Halifax debit and/or credit card.
• Credit Cards: Only the primary cardholder can earn cashback from spending on the credit card account as long as they hold a Halifax bank account. Transactions made by additional cardholders will count towards cashback and will also be used to generate new offers for the primary cardholder to activate.
• You’ll need to remain registered for Cashback Extras and keep your account open to get your cashback.
• The cashback payment will be credited to your oldest Halifax current account unless you tell use otherwise.
• Retailer offers can only be activated through Halifax Online Banking.
• The retailer offers and cashback amounts vary.
• If there are any errors in an offer, we may withdraw or correct it. This won’t affect any offers you’ve already activated.
• To earn cashback each offer must be activated online and applies to your next purchase.

MEDIA CONTACTS
Caroline Cody 07775644312 caroline.cody@lloydsbanking.com Saffron McFarlane 07900 244340 saffron.mcfarlane@lloydsbanking.com

SOURCE:  Halifax