Formerly known as Halifax Building Society, Halifax is a British bank. It is named after the town in West Yorkshire where it was founded in 1853 as a building society. The bank is a trading division of Bank of Scotland. The first London office was opened in 1924.

Reviews Rating
40%
Review Score
This figure is an average of the reviews score, taken from customer reviews and the overall rating of the bank.
54%
BankRank® Score
This figure is the average of the bank’s total sentiment score and the review scores.
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Overview

First Glance

Formerly known as Halifax Building Society, Halifax is a British bank. It is named after the town in West Yorkshire where it was founded in 1853 as a building society. The bank is a trading division of Bank of Scotland. The first London office was opened in 1924.

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About Halifax

Formerly known as Halifax Building Society, Halifax is a British bank. It is named after the town in West Yorkshire where it was founded in 1853 as a building society. The bank is a trading division of Bank of Scotland. The first London office was opened in 1924.

By 1913 Halifax was the UK’s largest building society and continued this success until it was demutualised in 1997. At this stage, it became Halifax PLC. Halifax then merged with Bank of Scotland in 2001, forming HBOS. When the group was reorganised just five years later, Halifax became a division of Bank of Scotland. HBOS was taken over by Lloyds TSB in 2009 and both Bank of Scotland and Halifax became part of Lloyds Banking Group.

Halifax Bank Products and Services

Halifax offers a range of current accounts designed to cover every type of customer.

  • Reward current account: earns £2 per month provided £750 is paid in and the account stays in credit
  • Ultimate Reward account – includes various insurance products, costs £15-17 per month
  • Youth accounts tailored for people aged 11-17
  • Student accounts
  • Basic account – for customers who don’t qualify for other account options

Halifax also has a selection of personal credit cards for purchases and transfers.

As well as standard instant access and fixed rate savings accounts, Halifax has a savings account specifically designed to teach children to save, plus a tax-free cash ISA option.

Customers who are keen to invest can choose from an investment account or investment ISA or join the Halifax Trade Centre to deal in shares.

Lending options for personal customers include loans and mortgages; Halifax accepts both new mortgages and remortgages and offers various rewards for these customers.

Halifax offers home, life, car and business insurance policies.

One notable absence from the Halifax banking portfolio is a business banking service; these products are not offered. Business customers can choose to bank with either Lloyds or Bank of Scotland, both of whom offer business banking services.

Halifax Security

Halifax customers using online banking are opted into Halifax Secure, which intervenes as an extra security step in transactions where it feels needed. Secure asks extra security questions to ensure customers are not being defrauded. Customers can read additional information about keeping their account safe on the Halifax website.

Halifax is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority.

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Is Halifax Bank a nationalised(Government) one or Private one? How to open a new savings Bank account? — Isaac Robert

Halifax Reviews

Adnan Ali
June 8, 2022

“Good! Very good”

Good! Very good

Ann Green
April 21, 2022

“Halifax freezes your account when you earn a bit of”

Halifax freezes your account when you earn a bit of money and then accuse you of fraud, they then close your account and your money which you earned legitimately suddenly disappears from your account

Jakob Sharpe
April 19, 2022

“This bank starts freezing your account and cards when you start earning good money and decide to spend it”

This bank starts freezing your account and cards when you start earning good money and decide to spend it. They blocked my accounts and card on bank holiday!! Unreliable and horrible bank. For the last 3 months I've earned an above average salary, then the blocking games begin each month!

One person found this helpful
Cheryl Campbell
April 3, 2022

“I am disgusted with my bank. I toad them a week in advance I needed a large sum for a purchase”

I am disgusted with my bank. I toad them a week in advance I needed a large sum for a purchase. When I went there at lunchtime, the door was locked. A single nice looking man was in there near the cash entry machine. Why was the door locked?!
I did the transaction, but they said it didn't go through, although the money was in the account. They then said it may be a scam, and to protect me they were keeping my money, and called the police!! I am a 70 year old pensioner with a heart condition. Looking back I suspect they also locked me in, which would be falsely imprisonment. I am now afraid to go to the bank and worried I won't get my money back. It feels very intimidating. I am now also worried about catching covid from the incident, as nobody wore masks and covid is serious at my age. I cannot believe they are allowed to behave like that.

One person found this helpful

Halifax Accounts

Current Account
Current Account
Current
Free
Monthly Fee
Interest Rate
Yes
Overdraft
You’ll only pay daily arranged overdraft interest if you borrow over your interest-free amount (if your account has one). Your daily arranged overdraft interest rate is based on how you manage any accounts you have with us and on the credit information we hold about you.
Overdraft Rate
Reward Current Account
Reward Current Account
Current
No fee or £3
Monthly Fee
Interest Rate
Yes
Overdraft
You’ll only pay daily arranged overdraft interest if you borrow over your interest-free amount (if your account has one). Your daily arranged overdraft interest rate is based on how you manage any accounts you have with us and on the credit information we hold about you.
Overdraft Rate
Ultimate Reward Current Account
Ultimate Reward Current Account
Current
£17
Monthly Fee
Interest Rate
Yes
Overdraft
You’ll only pay daily arranged overdraft interest if you borrow over your interest-free amount (if your account has one). Your daily arranged overdraft interest rate is based on how you manage any accounts you have with us and on the credit information we hold about you.
Overdraft Rate
Student Current Account
Student Current Account
Current
Free
Monthly Fee
Interest Rate
Yes
Overdraft
Up to £1,500 interest-free arranged overdraft
Overdraft Rate
Expresscash (11-17 years old)
Expresscash (11-17 years old)
Current
Free
Monthly Fee
Interest Rate
No
Overdraft
Overdraft Rate
Basic Account
Basic Account
Current
Free
Monthly Fee
Interest Rate
No
Overdraft
Overdraft Rate
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