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Derin Clark

Derin Clark

Online Reporter
Published: 03/11/2021

Consumers looking to boost their income in the run-up to Christmas can earn £125 simply by switching to a Halifax bank account.

The switching offer, which was launched today, will end on 14 December 2021, and the £125 will be deposited into customers’ bank accounts within three days of the switch being completed.

In order to receive the money, consumers will need to switch to a Halifax Reward Account or Ultimate Reward Current Account using the Current Account Switch Service (CASS) and transfer all active credits and debits from the old bank account to the new Halifax account (other terms and conditions may apply).

In addition to offering the £125 cashback for switching, both the Halifax Reward Account and Ultimate Reward Current Account allow customers to choose one reward from the following:

  • Stream two movies a month throughout the year, worth up to £120
  • One free cinema ticket a month (sent as vouchers to use when cinemas reopen) to catch the latest blockbusters at Vue cinemas across the UK.
  • A choice of three digital magazines from a host of well-known titles, including
  • Cosmopolitan
  • Men’s Health
  • Red
  • Good Housekeeping
  • Or customers can select a £5 monthly reward

The accounts also offer customers the opportunity to earn 15% cashback with selected retailers. In addition to this, the Ultimate Reward Current Account offers extra benefits including worldwide travel insurance and mobile phone insurance.

To receive these benefits, the Halifax Reward Account requires customers to deposit £1,500 into the account each month or pay a £3 monthly fee. The Ultimate Reward Current Account charges a £17 monthly fee.

Alternative switching offers

Along with the new switching offer from Halifax, a number of banks and building societies are offering customers cashback for switching. Below we’ve highlighted all the switching offers currently available.


Bank and account name Switching offer and requirements*  
First Direct – 1st Account £130 cashback – customers must switch using the CASS and credit at least £1,000 into the account each month for the first three months. Find out more
Nationwide Building Society – FlexDirect, FlexAccount, FlexPlus £125 for existing members and £100 for new customers. Must switch two active direct debits using the CASS Find out more
NatWest – Select, Reward £150 cashback - customers must switch using CASS, as well as pay £1,500 into the account and log into online or mobile banking through the NatWest mobile app before 13 January 2022 Find out more
Santander - Santander 1|2|3, 1|2|3 Lite, Everyday, Select, Private Current Account £130 cashback. Customers must switch using CASS, complete their switch within 60 days of starting the process, set up two active direct debits, deposit £1,000 minimum in the first 60 days from opening and log into their online or mobile banking app Find out more


*Additional terms and conditions may apply.


Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

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