Start the New Year afresh – consider switching bank account

Advertorial: Halifax makes the case for considering your banking options

28 Jan 2013, 00:05

This advertorial was sponsored by Halifax

With some New Year resolutions easier to keep than others - say tough ones like losing weight or avoiding chocolate - why not start with something straightforward you might have promised yourself for ages, like switching bank accounts.

People can stay for life with the first bank they ever use just out of convenience. Young people often open a bank account attracted by a cool incentive, get used to using the services and then take the bank with them right through their adult working life - even into retirement.

The reason that people are sometimes reluctant to change providers and go elsewhere is that they think the decision to switch bank accounts is going to involve a whole lot of time and hassle. It's the same kind of misunderstanding that puts people off getting round to switching their electricity and gas supplier - even though they might get better service and value if they shopped around.

Making the change is quick and easy

When it comes to banking, the reality nowadays, is different. Banks have come a long way from the days of 'one size fits all' and also now make it easier than ever to make the change.

In fact, all you need to do is first compare bank accounts, complete a simple online application and many banks will handle all the changes to standing orders and other regular payments for you. It means you can start looking around for a bank account that does exactly what you need it to do - rather using the one you've had ‘forever' simply because it's there.

Maybe you're looking for mobile phone and travel insurance? Or easy online banking right round the clock? Every customer knows which services matter to them most - and those they can do without.

Organise the year ahead with a planned overdraft

One of the least welcome surprises for many come New Year is discovering just how much all that festive fun has really cost. An extra round of drinks for workmates here and a last-minute present there can quickly play havoc with the budget. So a bank account with a planned overdraft could really help to manage that little bit of overspend. And some banks, like Halifax, might even give you a fee-free overdraft for three months if you switch to them.

Whatever bank account you choose, it's really important to understand the detail of any planned overdraft fees and borrowing limits. Knowing what it will cost should you accidentally go beyond the agreed maximum is also an absolute must. Remember, overdrafts are subject to status and repayable on demand.

Put switching your bank account to the top of the list for your New Year planning and start to enjoy banking that's designed around you.

This advertorial was sponsored by Halifax

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