Halifax | Ultimate Reward Account

255 reviews

Monthly fee: £15.00

AER: 1.5%

Representative example: For Ultimate Reward Current Accounts - if you use a Planned Overdraft of £1,200, then you'll be charged a daily overdraft fee of £1.28. For Ultimate Reward Current Accounts, there is no daily overdraft fee on the first £300.

Halifax | Ultimate Reward Account customer reviews.

255 reviews

2.2 out of 5 stars

Fantastic Account
20:46 13-07-2017
ImageChoose Wisely

Brilliant account. Call centre easy to get through with helpful staff. Claimed 3 times for phone insurance (myself and my wife) and all times was dealt with well. AA comes in handy as does the travel cover. Also have an accojnt with HSBC who are truly awful so well done Halifax.

Adam Neeves

Great perks
20:38 02-09-2018
ImageSmart Money People

One of the best advantage accounts going. The price is a little higher than most but if you travel a lot the worldwide (including usa) travel insurance is great.


Not the phone insurance you might expect
21:26 16-06-2017
ImageChoose Wisely

I have only made use of the phone insurance. Surprised at how lacklustre it is compared to my experience when I was with Natwest. With Natwest, I paid the excess, and within 24 hours, a courier took my phone, and exchanged it for another, Job done. I have damaged my iPhone, using it in a heavy downpour. Having contacted Hallfax, I was expected to print out a pdf, package it myself, and do all the snail mail stuff myself. Hilariously, their main means of communication of the progress is by mobile, so I had to give my wife's mobile number. Three days after posting the phone, they called my wife to confirm receipt, and would spend three days inspecting the phone (I already told you I broke it!). I have now been over a week without a phone. It was way simpler with Natwest.

Steven Chippendale

Excellent service from Halifax
14:21 23-07-2018
ImageSmart Money People

I have been with the Halifax for 6 years. I have never had a problem.They have always helped me out when I needed them.Excellent.


Best all rounder account
10:28 03-02-2017
ImageChoose Wisely

Having had this account for around 3 years I think this is one of the wise decisions I have made in opening a bank account. Mobile Phone Insurance- I have claimed 4 times since having this account the claims handling was smooth, fast and efficient servicing. AA Break down cover- This is a life saver as I have used this quiet a few times for myself and my friends. Home Insurance - Claimed this once and yeah 5 start service. Apart from this there are a few additional benefits that comes with this account like over draft up to £300 and World wide travel insurance all this for just £12 and if I would have taken them seperately I am sure it would have cost me more than this.


always there for me, even if fraud attempted
13:50 23-07-2018
ImageSmart Money People

Had a recent attempt at an online fraud on my account, and halifax dealt with it brilliantly. I was contacted through a trusted source that already existed on my phone to highlight an attempted payment that they had stopped before it went through. I then contacted the fraud team who stopped the transaction showing on my account. I'd say they are always there for their customers. Thanks Halifax, you saved me losing hundreds of punds, as this transaction was probably only the start!


Great rewards
10:14 19-04-2018
ImageSmart Money People

Great value for rewards, travel insurance & AA membership.


Great product
15:34 11-02-2018
ImageSmart Money People

Great services at a price I'm willing to pay

James Foster

No fuss banking
11:45 11-02-2018
ImageSmart Money People

Great account, £3 reward received every month the account is in credit. Overdraft optional and online banking is accessible and easy to use

E. Gee

It really is ultimate
18:37 03-02-2018
ImageSmart Money People

You can't go wrong with having breakdown cover, has saved me a few times. Holiday insurance is brill; if only I could afford to go. Mobile insurance I used that last year Loads of others. And not bad price, it would cost more to do get all these benefits separately.

Rebecca Walton

Our review of Halifax | Ultimate Reward Account

The Ultimate Reward Current Account from Halifax does come with a variety of benefits. Breakdown cover is provided by the AA, and you are covered as both a driver or passenger in any eligible vehicle if you breakdown both at home or on the road. The worldwide family insurance also provides cover for winter sports and golf trips, pre-booked UK accommodation for two nights or more and personal money up to £750. The monthly fee for the account is quite steep at £15 per month, but it does decrease if you stay within credit, pay at least £750 into your account monthly and have at least two Direct Debits set up from the account.

Accessing the Halifax Ultimate Reward Current Account is simple and can be done by either logging in online or using the dedicated mobile app. If you have an iPhone you can link the app with your phone security and access it simply with your thumb or finger print, rather than having to log in with passwords and memorable information. You can also use both of these methods to set up payments, transfer money to friends or other accounts, check your balance and transactions and even request a higher overdraft.

Halifax have received a disappointing rating of ‘bad’ on TrustPilot. This isn’t just for their Ultimate Reward Current Account as there are no specific reviews online, but instead is for the bank’s total product and service offering. Although there are often two sides to every story, negative reviews mention poor organisation, disheartening overdraft charges and cards being blocked seemingly for no reason.

Overall verdict: Despite poor online reviews Halifax are one of the most well-known banks and their Ultimate Reward Current Account although pricey, does offer some benefits that customers may find appealing. It’s worth considering using this as your main account if you do decide to go with Halifax, as then you can make sure you meet the criteria for a lower monthly fee.

Written by: Alex


  • £75 when you switch to Halifax
  • Family travel insurance
  • Mobile phone insurance
  • AA Breakdown cover
  • Home emergency cover
  • Earn cashback
  • Manage the account with online, mobile and telephone banking

Minimum criteria

  • You must be aged 18 or over
  • You need to be a UK resident


  • Maximum APR %
  • Arrangement fee: £0
  • Early repayment fee: £0
  • Late payment fee: £0

About Halifax | Ultimate Reward Account

The Halifax Ultimate Reward Account has a monthly fee of £15, however, if you have paid in at least £750 and paid out two Direct Debits from the account and haven’t dipped into your overdraft in the previous calendar month, then this will decrease to £12. By paying this monthly fee, customers can benefit from worldwide family travel insurance, mobile phone insurance, AA breakdown cover and home emergency cover. Note that the Ultimate Reward Account monthly fee is due to increase from £15 to £17 as of 1st July 2018. Customers will also receive £75 when switching to the Halifax Ultimate Reward Account which will be deposited into the account before the end of the seven days that it takes to switch.

Customers may be granted an overdraft when opening their Halifax Ultimate Reward Account, although this exact balance will depend on your personal circumstances and financial history, so it isn’t standard practice for all customers. You can apply for more once you have used the account and proven that you can stay within your means or are earning enough to pay it back. There is an overdraft buffer, and the first £300 doesn’t incur a fee, but if you go further into your planned overdraft then you can pay 1p for every £7 borrowed each day depending on your overdraft balance – for unplanned overdrafts there is a daily charge of £5.

Customers can access their account to set up standing orders, view their balance, make payments or apply for overdrafts using the Halifax mobile app or by logging in via the website.

Company information

Registration number: SC327000



Lloyds Banking Group, 7th floor, 155 Bishopsgate, London, EC2M 3UB

FCA registration

Reference No: 169628

Trading names: Bank of Scotland PLC, AA, Halifax, Hitachi, Lloyds Bank

Place of business: The Mound, Edinburgh EH1 1YZ

Data protection registration

Registration No: Z7828948

Data controller: Bank Of Scotland PLC

Address: The Mound, Edinburgh EH1 1YZ

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