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Halifax launches £100 switching offer
Derin Clark

Derin Clark

Online Reporter
Published: 07/04/2021

From today, consumers can earn £100 in cashback simply by switching to a Halifax Reward Account or Ultimate Reward Current Account using the Current Account Switching Service.

In addition to the £100 cashback, eligible customers that switch to the Halifax account can also choose from one additional reward from the following:

  • Stream two movies a month throughout the year, worth up to £120
  • One free cinema ticket a month at Vue cinemas
  • A choice of three digital magazines from a host of well-known titles
  • Or a £5 monthly reward.

The Halifax Reward Current Account allows customers to earn up to 15% cashback from selected retailers when using their card. To qualify for the rewards, customers must pay £1,500 into the account each month, stay in credit and either spend £500 on their debit card or maintain a balance of £5,000 each month – if this criteria is not met, the account charges a monthly fee of £3.

The Ultimate Reward Current Account also enables customers to earn 15% cashback from selected retailers, as well as a range of additional benefits including worldwide travel insurance and mobile phone insurance. This account charges a monthly fee of £17.

Commenting on the launch of the switching offer, Martin Turner, head of personal current accounts at Halifax, said: “Our Reward and Ultimate Reward accounts are already a popular choice for switchers, and now new applicants will receive £100 when they switch to us using the industry switching service. Both continue to reward customers with a choice of fantastic lifestyle benefits, from monthly movie streams to magazine downloads.”

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Virgin Money launches high interest bank account

Virgin Money has launched a high interest bank account that could be an attractive option for savers struggling to find a competitive rate in the savings charts. Here we look at whether the account is worth opening and the alternative high interest bank accounts currently available.

The new Virgin Money account, Club M Account, allows customers to earn 2.00% gross on deposits of up to £1,000, which if the maximum amount was deposited would result in £20 earned in interest over a one-year period. This account also comes with a host of incentives including gadget and accessory insurance, mobile phone insurance, vehicle breakdown cover, worldwide travel insurance, and automatically opens a linked Virgin Money Club M Saver Account, which currently offers a chart-topping rate of 0.50% gross. When weighing up the benefits of this account, however, consumers should keep in mind that it charges a monthly fee of £14.50, so it may only be worthwhile for those who would be able to make full use of the incentives offered.

Consumers who would not make full use of the incentives may want to consider Virgin Money’s M Plus Account. This account also offers 2.00% gross on deposits of up to £1,000 but does not charge a monthly fee. The account does not have the incentives offered by the Club M Account, but it does have a switching incentive that enables customers to receive a 12-bottle case of wine from Virgin Wines and donate £50 to charity when they switch to the account using the Current Account Switching Service (CASS).

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Barclays Bank highly commended as student account provider of the year 2021

Barclays Bank has been highly commended for the student account provider of the year 2021 at the Moneyfacts Consumer Awards last month. Analysts at Moneyfacts reviewed the students account available from financial providers to create a shortlist. These then went forward to a public vote to decide the winners, highly commended and commended brands.


Pip Landers-Letts, Barclays’ Head of Youth, Student & Graduate Propositions, Barclays says: “ It is great to see the Barclays Student Additions Account recognised for the way it can support students as they embark on their studies. The start of university is such an exciting time, but often there is lots to do to make sure you are fully equipped for student life - being able to set up our Student Additions Account from the Barclays app is a quick and easy task, which frees up more time to focus on the start of your studies and settle into university.”

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Simple steps to reducing debts

Today marks the start of Debt Awareness Week, which coincides with the one year anniversary of the first lockdown in England and Wales, the financial fallout of which has seen many consumers falling into debt.

In fact, StepChange, the debt advice charity behind Debt Awareness Week, has acknowledged the impact the pandemic has had on people’s finances and the fact that many are worried about the debts incurred over the last 12 months by encouraging consumers to use this week to take the first steps towards getting debt help and talking about their financial problems.

“This Debt Awareness Week, we’re focusing on breaking down the stigma that surrounds debt, opening up the conversation and encouraging people to take #TheFirstStep towards resolving their money worries,” explained Richard Lane, director of External Affairs at StepChange.

“With the week also marking a year since lockdown began in England and Wales, and 2.5 million people facing a financial crisis due to the impacts of Coronavirus, it’s more important than ever that households across the country know where to get help. You are not alone.”

Those struggling with debt should consider seeking help and advice from a free debt charity, such as StepChange, or from Citizens Advice.

For those who have incurred extra debts over the last year, but who are able to manage their debts, here we’ve put together some steps consumers can take to reduce and clear their debts.

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Top current accounts that pay you to switch

Few people would turn down the opportunity to earn money for doing very little, which is why bank switching incentives have remained popular over the years. Although the last 12 months have seen many deals being removed, consumers looking to receive cashback or an incentive for switching bank accounts still have a few options available.

Currently, three providers offer consumers an incentive for switching bank accounts, these deals are:

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Recent News

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Can I be confident switching my bank account in 2021?

11th March 2021

More banks at the start of 2021 are now offering customers incentives to switch bank accounts. The incentives to switch now include cash, wine and other offers. We examine the offers and how switching works.

More banks at the start of 2021 are now offering customers incentives to switch bank accounts. The incentives to switch now include cash, wine and other offers. We examine the offers and how switching works.

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TSB launches new cashback bank account

24th February 2021

TSB has launched a new bank account that allows customers to earn £5 cashback per month – here we take a look at whether it is worth opening and other cashback offers currently available on current accounts

TSB has launched a new bank account that allows customers to earn £5 cashback per month – here we take a look at whether it is worth opening and other cashback offers currently available on current accounts

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Three switching offers launched within last two weeks

22nd February 2021

Competition between banks for new customers has reignited this month, as three new switching offers have been launched within the space of two weeks

Competition between banks for new customers has reignited this month, as three new switching offers have been launched within the space of two weeks

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New £125 switching offer and 15% cashback scheme announced

10th February 2021

HSBC has launched a new switching offer that will see consumers earn £125 simply by switching their bank account to a HSBC Advance Account or Premier Bank Account

HSBC has launched a new switching offer that will see consumers earn £125 simply by switching their bank account to a HSBC Advance Account or Premier Bank Account

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Most Popular Banking News

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Virgin Money launches high interest bank account

30th March 2021

Virgin Money has launched a high interest bank account that could be an attractive option for savers struggling to find a competitive rate in the savings charts

Virgin Money has launched a high interest bank account that could be an attractive option for savers struggling to find a competitive rate in the savings charts

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Halifax launches £100 switching offer

7th April 2021

From today, consumers can earn £100 in cashback simply by switching to a Halifax Reward Account or Ultimate Reward Current Account using the Current Account Switching Service

From today, consumers can earn £100 in cashback simply by switching to a Halifax Reward Account or Ultimate Reward Current Account using the Current Account Switching Service

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Reviewed: HSBC bank and its range of bank accounts

19th October 2020

HSBC has more than 40 million customers across the world. It is one of the big four banks in the UK. Consumers that switch their bank account to HSBC can currently earn £125 cash bonus on specific HSBC accounts (subject to eligibility). We review its range of bank accounts and the HSBC mobile banking app.

HSBC offers £125 cash bonus to switch to specific HSBC accounts (subject to eligibility). We review its range of bank accounts.

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Top current accounts that pay you to switch

17th March 2021

Few people would turn down the opportunity to earn money for doing very little, which is why bank switching incentives have remained popular over the years

Few people would turn down the opportunity to earn money for doing very little, which is why bank switching incentives have remained popular over the years

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