July 2021’s bank account news & round-up

The latest news to help you get the most from your bank account.

Here’s my monthly update sharing changes for leading UK current accounts, as well as some of the relevant articles you might have missed on the blog.

July’s bank account update video

July current account news

£100 Halifax switch bonus

If you open a new Halifax Ultimate Rewards current account and switch from a different bank before 3 August 2021 you can a £100 switching bonus.

This account does come with a £17 monthly fee but you should be able to avoid this if you downgrade your account as soon as you get the cash bonus (which should reach your account within three days of switching).

It’s open to existing Halifax customers too, and there’s even a trick if you already have the Ultimate Rewards account. More details on this, how to avoid the monthly fee and eligibility here.

Virgin Money bank switch change

There’s been another change to the freebie you get from Virgin Money if you open a new M Plus current account and switch to it from another bank.

This time you get a £150 Virgin Experience Days voucher to spend on things like driving a car on a race track or weekend breaks. It’s the first time Virgin Wine hasn’t been part of the promotion.

I’ve had a look at whether it’s any good in my Virgin Money M Plus current account review.

Halifax and Lloyds to close 44 branches

There’s been another bank branch closure announcement, this time Lloyds Banking Group shutting almost 50 later this year. Find out which ones are going here.