Halifax Savers Prize Draw shakes up high street savings

September 23, 2011 (PRLEAP.COM) Business News
Designed to acknowledge the importance of saving and to reward positive saving habits, Halifax launches the new Halifax Savers Prize Draw. Offering a range of cash prizes from £100,000 through to sums of £100, this innovative scheme will see Halifax savers, with balances of £5,000 or more, gain the opportunity to win a prize in a series of monthly draws.

A first for UK banking, prizes will be paid in addition to the interest already being paid on the individual's savings account. Savers can hold funds in accounts from across the savings range1 and will still continue to benefit from the interest rate on their account. Launching on October 3rd 2011, the inaugural Halifax Savers Prize Draw will take place in December this year.

Simon Kenyon, Director of Savings said, "The Halifax Savers Prize Draw is designed to shake up the savings market and reignite a savings culture. We know that our customers work hard to achieve their savings goals so this is a great way of rewarding that commitment. Savers can be sure they can continue to earn interest on their funds in addition to the opportunity to win a cash prize in the monthly draw."

Halifax Savers Prize Draw details:

  • Prizes each month: three x £100,000, 100 x £1,000 and 1,000 x £100
  • The first monthly prize draw will be held in December 2011
  • Monthly draws take place in the first three working days of each month
  • All prizes awarded are in addition to any interest paid

  • Entry Criteria

  • Customers must hold an aggregate balance of £5,000 in one or more qualifying savings accounts1
  • Customers must register to be entered into the draw
  • Customers must be 18 or over and be resident in England, Scotland or Wales
  • One entry per customer

  • Registration is quick and easy. The Halifax Savers Prize Draw launches on 3rd October 2011. However, customers can register prior to this date by filling in a form at www.halifax.co.uk/saversprizedraw or calling the dedicated phone line on 0844 571 50 76.

    A new era for Halifax
    This is the latest step in delivering on the commitment2 made by António Horta-Osório, CEO, Lloyds Banking Group, to make Halifax the leading UK challenger for retail banking. Last week saw the launch of a revitalised Halifax brand featuring the Halifax Community Choir.

    As the UK's number one savings provider, Halifax continues to find ways to lead the savings agenda having also unveiled a new savings range. Responding to what savers want, the new range offers simple, straightforward accounts with easily identifiable names.

    Halifax has a proud history of going further for its customers and these new savings initiatives are in addition to the challenger offerings already provided by the bank; the Halifax ISA Promise, the Halifax Clarity credit card and the Halifax Reward current account. Halifax is also the only UK bank to open all of its branches on a Saturday. This offers customers the assurance that no matter where they are in the UK, they can access a local branch.

    Note to editors;
    1Halifax savings accounts not eligible for the draw include accounts held for, or on behalf of children, including child-specific accounts such as Save4it, Children's Regular Saver and Young Saver, the Halifax Christmas Saver and any accounts held for non-personal reasons such as a club, charity or business account. Bank of Scotland savings accounts are also eligible.
    2In June 2011, António Horta-Osório, CEO, Lloyds Banking Group, outlined as part of the strategic review, that Halifax would be revitalised as a leading challenger in UK retail banking.

    The Halifax Savings Prize Draw

  • The Halifax Savers Prize Draw is open to both new and existing customers
  • The scheme will run for a minimum of 12 monthly draws
  • Customers must maintain the £5,000 minimum balance for the full calendar month prior to the draw
  • Customers must be 18 or over at the end of the month prior to the draw
  • Residents of Northern Ireland are not eligible to participate in the draw
  • Winners will be individually notified
  • Winners are not required to pay income tax on their prize amount
  • Externally adjudicated by KPMG LLP</li>