Newest Review: ... all money out. CLARITY CREDIT CARD - I don't like owing money at all and really only took this credit card out as we wanted to have a ... more
Halifax is no.1 for Teens!
Member Name: Andrew LG
Advantages: Friendly staff, online banking and visa electron
Disadvantages: Interest rates
Simple question with a simple answer. It was because of the range of features the 'Expresscash' account offered. Such as online banking and a debit card! These features attracted me the most, except the interest is the worst for teenagers accounts...
But that doesn't matter as i save with Nationwide, but Halifax do offer a 'Save4It' and 'regular kids saver' account which offers higher interest. You can also sign up to a 'web saver' account to go alongside your 'Expresscash' account with Online Banking.
::::Opening the account::::
You can register for an Expresscash account online, at your local branch or by telephone (i think).
I choose to register online, it was simple and very easy to do.
Within a couple of days i got a letter from Halifax telling my to pay a minimum of £1 into my new account to open it and get my debit card sent to me.
I then got some forms asking for my signature which i sent of and a R85 tax form, which i talked about in the branch when paying the £1 in and they said there was no need to send the form of now as its already done automatically on the computer.
::::How friendly are the staff?::::
When i went in asking questions there was a very nice lady who was talkative (in a good way) and always smiled.
They treat you like a human, not just another customer, which made me feel happy as other banks ive been with just seem to be after custom with them (since im young most banks want kiddies and teens to get a bank with them, because most banks know that when you open your first bank account, you stay with it for life!).
The online banking features for the halifax expresscash account are much better than the my Nationwide one. I can transfer money to other accounts (like my Nationwide one!).
It lets you view statements from the last 2 years, i haven't been with them that long so i haven't got much to look at!).
You can even manage direct debits, get holiday money and view the latest information on your account.
There is also some special online savings accounts to go with the Expresscash account. Like 'web saver' which pays a special rate of interest each year and can be opened from just £1 (for under 21's). Web saver can be opened by anyone who has online banking (from 11 years old!).
You can choose to get a cash card with the web saver account, but that lowers the special rate of interest and if you want to spend it you can easily transfer it to the Expresscash account for use with the Expresscash Visa Electron card...
Instead of a cashcard like most banks/building soceitys give to teens/kids, Halifax give you a Visa Electron.
You can use the Visa Electron with most popular online retailers, like Amazon.co.uk and Play.com
Using it in the High street can be a problem as not many high street stores accept it (although more are starting to). But you can just go to a ATM (aslo known as "the hole in the wall") to withdraw up to £300!
Not bad for a teen/kiddie account.
I love Halifax, there always friendly and offer great features with accounts. But there Visa Electron replaced the Solo Card, which was a bad move as solo is more widely accepted in the UK, although Visa is more accepted worldwide... Also, there's there very low interest rate (which is paid monthly, i think its around 1.51%), but i use this account for spending, not saving.
Thanks for reading my review on halifax,
Summary: see review
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