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More current account switchers choose Halifax

16th October 2014 Print

Over 130,000 customers switched to Halifax in the first six months following the introduction of the Current Account Switching Service (CASS) in September 2013, according to official figures. Published six months in arrears, the data highlights that Halifax was the most switched to bank on the high street over this period.

Additionally, the Payments Council has revealed that across the industry 1.2 million customers have switched their accounts in the first year of the new service. With around a quarter of a million choosing Halifax, the bank has remained the number 1 choice for almost one in every four customers using CASS with the switch guarantee over the past 12 months.

As one of the UK's leading current account providers, Halifax has embraced the seven day initiative, and has continued to offer one of the most rewarding current accounts in the market. Customers switching to the Halifax Reward Current Account can earn over £250 in rewards during the first year after they have switched to this account, including:

£100 switching bonus, when customers use the CASS

12 x £5 monthly reward payments when customers pay in £750; pay out two direct debits, and stay in credit each month

around £100 in Cashback Extras over a year

Anthony Warrington, Director of Halifax Current Accounts, says: “Since its launch the CASS has given people greater confidence in their ability to quickly and easily switch their current account, and in this period Halifax has demonstrated it’s the bank that's most rewarding for customers. It is great to see that so many clearly agree by voting with their feet.

“There is a real sense of increased competition in the current account market since seven day switching was introduced, meaning consumers have an even wider choice of accounts and a number of competitive deals available to them. Whilst we are proud that Halifax has performed strongly, we remain focused on challenging the current account market by providing great value products together with a consistently high level of service.”