New Rewards Account The new Reward Current Account from Halifax Thinking of changing your bank account? If you are, you're one of a very select group of people. According to a BBC report in July 2008 just 6% of people change their current account in a typical year. Members of our parents' generation often knew their bank manager personally and stayed with the same bank for their whole lives - but these days switching bank accounts is actually easier than you think - so why do so few people bother? One reason could be that they don't think one current account is much different from another. With Bank of England base rates at an all time low, there's little financial incentive in changing your bank. A new kind of current account But there's a new kind of current account available from Halifax which does away with interest calculations. Switch to a new Reward Current Account and you'll get a £5 fixed reward each month - if you pay in at least £1,000. These days every extra pound helps. If you get your salary paid into your Reward Account each month you could be well on the way to earning your £5 reward without even trying. It could all add up to £60 a year - a tidy bit of extra cash to put towards the monthly utility bills or reward yourself with something nice. Simplifying overdrafts Every now and then you may need to dip into an overdraft facility, so the Reward Current Account offers an easy-to-understand overdraft facility too. It could take time to calculate how much you will need to pay with your overdraft interest rate but in the same way that you get rewarded a fixed fee for paying money into the Reward Current Account, you're charged a fixed daily fee for going overdrawn too, making it easy to manage your money. You pay £1 a day for arranged overdrafts up to £2,500 and £2 a day for arranged overdrafts over £2,500. For unarranged overdrafts, you will be charged £5 a day. So it's really easy to understand what overdraft fees you've incurred if you use your overdraft facility on the Halifax Reward Current Account. It's not hard to switch Switching bank accounts is not as complicated as you might think. Your new bank will sort out the paperwork for you - for example transferring direct debits and standing orders. So, if you're not happy with your existing current account maybe it's time to consider changing. The new Reward Current Account from Halifax is straight-forward, easy to understand and it rewards you every month too. Halifax offers a complete range of bank accounts and personal investment products. Whatever you're looking for: from savings accounts to personal loans, a mortgage or a credit card, at Halifax we aim to give you a little extra help. We even offer help with your home insurance and travel insurance too. Pay in £1,000 monthly to receive £5 (net)/£6.25 (gross) monthly. Reward paid net of income tax (at the rate specified by law, currently 20%). Higher rate tax payers may need to pay additional tax on the reward. Accounts available only to personal customers who are 18+ and UK residents. Halifax current accounts and services are offered subject to status. Overdrafts are repayable on demand.