Martin Lewis issues warning as Halifax overhauls account – days until important deadline

Martin Lewis issues warning as Halifax overhauls account – days until important deadline

Changes to the Halifax Reward account will take place in the near future – something which Martin Lewis has warned customers about this week. He issued the reminder in his latest weekly Money Tips email.

Addressing Halifax Reward customers, he warned that it’s “making your mind up time”.

While the changes itself will take place from June 1, 2020, there’s an upcoming deadline to note.

“Halifax is to overhaul its popular Rewards current account from June, increasing the cash you can earn each month but adding a £3/month fee for some and much stricter terms,” the Money Saving Expert warned.

“Customers must decide by Friday if the new account is right, or risk missing out on any rewards.”

READ MORE: Martin Lewis highlights top easy access savings accounts as Santander cuts interest rates

Currently, the Halifax Reward current account offers customers a £2 monthly reward.

The £2 can be received each month when throughout the previous calendar month the customer:

  • Paid in £750 or more and;
  • Paid out a minimum of two different direct debits and;
  • Stayed in credit.


It may be that customers can also earn up to 15 percent cashback when they shop with the account.

From July 1, 2020, Halifax is changing the Reward Current Account.

From this date, there will be a £3 monthly maintaining the account fee.

This is with no fee if the person pays in at least £1,500 in the previous month.

Should they not hear from the customer, the bank says it will change them to a Current Account.

The Current Account has no monthly maintaining the account fee, but customers with this account don’t get access to Reward Extras.

Read more via the Money Saving Expert’s latest Money Tips email.

Published at Wed, 13 May 2020 14:26:00 +0000