Halifax — fees, features, catches and eligibility
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Quick answer
Thinking about a Halifax current account? Halifax is changing its brand to Lloyds, and new current accounts are being pointed to Lloyds unless you already use the Halifax app (Halifax, 3 October 2026).
Existing accounts carry on. The Reward Current Account costs £3 a month, waived if you pay in £1,500 or more, and has no Halifax debit card fees abroad.
Who it’s for — and who should avoid it
Who it’s for
- Existing Halifax customers checking what the Lloyds brand change means
- People who want branches, Post Office and Banking Hub cash access
- Anyone who pays in £1,500 a month and would use the Reward account
- Switchers who want a 0% overdraft for six months (subject to approval)
Who should avoid it
- Anyone hoping for a Halifax cash switch bonus — none was shown on 27 September 2026
- People who have had a switch offer from Lloyds, Halifax or Bank of Scotland since 1 Jan 2023 and want Lloyds’ offer
- Anyone who won’t pay in £1,500 a month on Reward (the £3 fee applies)
- Anyone wanting to open a new Halifax account outside the Halifax app — new applicants are pointed to Lloyds
Key features
- Current Account: no monthly fee, cashback offers and 24/7 app access
- Reward Current Account: £3 a month, waived with £1,500+ paid in each month; variable credit interest; no Halifax debit card fees abroad
- Ultimate Reward Current Account: £19 a month with travel, mobile, breakdown and home emergency cover
- Switch in seven working days with CASS; up to six months’ 0% arranged overdraft for switchers, subject to approval
- Cash access through branches, LINK ATMs, Post Offices and Banking Hubs
Eligibility
- Personal customers aged 18 or over and resident in the UK
- Accounts are subject to status
- New applicants are being directed to Lloyds unless applying in the Halifax app
- Switcher overdraft offer: must use the full CASS switch and not have used the offer in the last 12 months
Fees
| Item | Detail |
|---|---|
| Current Account | £0 a month |
| Reward Current Account | £3 a month, waived with £1,500+ paid in |
| Ultimate Reward Current Account | £19 a month |
| Arranged overdraft (Reward example) | 29.9% EAR variable; representative 29.9% APR on £1,200 |
| Switch bonus | None shown (27 Sep 2026) |
Where these facts come from: Halifax’s own bank accounts page (checked 3 October 2026); our switch bonus pages (27 September 2026).
The catch
The brand change is the main catch: new applicants are being steered to Lloyds, and Lloyds’ own switch offer excludes people switching from Halifax or Bank of Scotland. Halifax sits under Bank of Scotland plc, so the £120,000 FSCS limit is shared with that firm’s other brands. After the six-month switcher overdraft, interest applies (Reward representative 29.9% EAR variable).
FAQs
Is Halifax becoming Lloyds?
Halifax says its brand is changing to Lloyds. On 3 October 2026 its site pointed new current account applicants to Lloyds, unless they already use the Halifax app.
Does Halifax pay you to switch?
No Halifax cash switch offer was shown when we checked on 27 September 2026. Lloyds’ £200 offer excludes people switching from Halifax.
How much is the Halifax Reward account?
£3 a month, waived in any month you pay in £1,500 or more (Halifax, 3 October 2026).
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