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Basically, that's distinguishing Halifax from Lloyds and setting out to offer something different and innovative in the marketplace.
It also pays up to 3 per cent tiered cashback on household bills, however its monthly 2 charge is rising to 5 in January.
Advance Account, which promises to pay discount hugo boss wallets an extra 120 on top of interest earned."As a result, the chances of savers winning a prize, particularly the top prize, are very slim.".The bank has recently scrapped its 5 monthly fee, which applied to customers paying in less than 750 per month.This prize draw needs to be seen in this context Mr Hagger said."In these countries, we have seen that it has worked and given a real lift to the savings culture said Simon Kenyon, the director of savings at Halifax.
The account requires a 1,750 monthly minimum deposit.
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But regardless of what Halifax is trying to achieve, some experts have real concerns over the prize-draw idea.
What's more, as Ms Slade points out, as the Halifax is the biggest savings-account provider in the UK, there are likely to be an awful lot of people signing up to the prize draw.
Andrew Hagger, 31dover com discount code of price-comparison service Moneynet, said: "I'd say to the Halifax that, instead of offering this prize draw, why don't you just use the money to give savers a higher rate of interest?".But you will have to pay in at least 1,500 or pay a 5 monthly fee.But customers need to be aware that whereas Halifax savings rates are quite good, they can usually be beaten elsewhere.If savers don't choose to enter the draw, they will not have a chance of winning a potentially life-changing amount.The bank pays 4 per cent on amounts between 4,000 and 5,000, 2 per cent interest on between 2,000 and 3,999.99 and 1 per cent on amounts of 1 to 1,999.99. .