Something else...
"£100 for switchers
A new initiative for switchers launches on 5 February. New customers switching their Direct Debits and standing orders to a qualifying Halifax or Bank of Scotland current account will be rewarded with
£100.
To qualify, customers will need to use the switching service and pay £1,000 or more into their account every month. The deal runs until 23 March."
Mystic Northwind predicts: The rate will drop off after a year at most. This is HBOS's second stab at this sort of account but it totally failed last time, nobody wanted it. You have to pay in at least £1000 every month, if you don't meet that then you lose the benefits... You only get the high interest on a balance of up to £2500 too.
The AATS switching process isn't quite as simple as they tell you, because it can take ages- you don't have to do much but it takes time to do, so for that time you don't know where your direct debits are going to come out of. Hassle, that. But they used to give you an automatic £1000 overdraft for the first 3 months to help cover that. It doesn't always work either, because it's down to the companies that collect the direct debits to make the change, not the bank.
I bet you need a pretty strong credit score to get it though...
Looks alright though. I've changed my staff account to be one, dead easy
