Halifax | Ultimate Reward Account

781 reviews

Monthly fee: £17.00

AER: 0%

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.

781 reviews

1.7 out of 5 stars

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.

Andrew Freelander
Written by
Andrew Freelander
Brand & Content Manager at Choose Wisely

Andrew joined Choose Wisely 5 years ago, originally working in a design capacity to make sure the website was simple to use. Most notably he worked with the Consumer Finance Association to design the comparison table of choice for High-Cost Short Term Finance products.


  • £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


  • Overdraft Rate: 0%
  • Credit Rate: 0%
  • APR: 0%
  • Monthly Fee: £17
  • Interest Rate: 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



The Mound, Edinburgh EH1 1YZ

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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