Major bank to axe key account perk for thousands of customers within days
15 June 2025, 19:04
A major bank has revealed it will discontinue a key account benefit for thousands of customers as soon as 17 June.
Listen to this article
Loading audio...
Halifax, part of Lloyds Banking Group, is set to discontinue its 'Extras' for Rewards current account holders.
The initiative sees customers charged £3 a month to run this bank account, which then gives them freebies in return for hitting certain targets.
For example, customers can get £5 paid into their bank account or a free cinema ticket if they either spend £500 on their debit card each month or hold a balance of more than £5,000.
Halfiax plans to close down this service come September, meaning customers who meet these targets will no longer get a reward.
To prepare for this, Halifax has told customers that from 17 June they will no longer be able to add Reward Extras to their account or renew an existing Reward Extras offer.
Read more: Higher petrol prices could hit in weeks amid soaring global oil prices
Read more: Housing market recovering but ‘long way from buoyant’, warns housebuilder
However, the bank is making way for a raft of new features that could see major benefits for Halifax customers, including a fee-free debit card for spending abroad and a £100 interest free arranged overdraft to existing and new eligible Reward account customers.
At present, Rewards customers are charged a 2.99% fee for using their debit card abroad, meaning an extra £2.99 for using their debit card to pay £100 abroad.
These changes will come into effect on 1 August.
Customers who meet the requirements will also be allowed to enter into a £100 overdraft and not face any interest.
