- The latest figures from Halifax indicate it is on track to see a further 300,000 customers switch to one of its current accounts in 2013.
- Lloyds Banking Group
With a new customer switching to Halifax every two minutes on average, the most recent figures also indicate the number of customers making a full switch has increased month on month since April this year as Halifax builds towards the launch of seven day switching.
The imminent launch of the industry’s seven day Current Account Switch Service will require all customers who use the service to make a full switch and close their existing bank account. Halifax has led the way in this area, with its current offer of £100 and a fee free overdraft for six months, available to new customers who make a full switch.
In addition to this, Halifax recently launched a new cashback programme which rewards customers with another way to make their money go further. Available to new and existing customers, Cashback Extras offers current account holders cashback of between 5%-15% on purchases with leading retailers when they use a Halifax debit or credit card.
Anthony Warrington, director of Halifax current accounts, says: “With seven day switching just around the corner, more people are going to be looking at their current accounts to see if they measure up. Providers therefore need to make sure their accounts stand up to scrutiny.
“2013 was always going to be a competitive year for current account switching, but at Halifax our aim is always to offer a high level of service together with current accounts that provide genuine long-term value. Consumers have recognised this, and so far we’re on track to see a record number of current account customers make a full switch to us this year.”