Halifax in vanguard with current account incentives

18 June 2007
Current account customers stand to gain as banks tussle to provide the best incentives, a finance advice site has claimed.

Britain's biggest banks have rushed to entice new customers over the last six months, Michelle Slade, personal finance analyst at Moneyfacts.co.uk, explained.

Halifax last week announced the return of its £100 switching incentive for incoming current account customers on an account which, according to Moneyfacts.co.uk, is also "one of the best paying credit interest accounts on the market".

Only First Direct matches the Halifax by offering a £100 cash incentive for switching customers, although competitors Alliance & Leicester also offer a £40 'friend incentive' to existing customers and new joiners.

Nevertheless, customers should look at the whole range of features on a given account, not just the cash-in-hand on offer when they sign up, Michelle Slade stressed.

Choosing the best deal for you will depend on your financial habits, including how much you expect to borrow or save.

Find out more about current accounts


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