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December 10, 2013updated 04 Apr 2017 1:00pm

Current account switching to increase Halifax customer base to 300,000 a year: Reports

UK-based Halifax is, reportedly, set to increase its current account customer base to 300,000 in a year.

UK-based Halifax is, reportedly, set to increase its current account customer base to 300,000 in a year.

Around 200,000 customers are likely to switch from other lenders such as Co-operative Bank and Royal Bank of Scotland (RBS) to Halifax. Halifax is a division of Bank of Scotland and a wholly owned subsidiary of Lloyds Banking Group.

Halifax, however, claims that the rate of new account openings reduced since May, when it was aiming to rope in around 400,000 new current accounts in 2013.

Speaking at the opening of its new branch in Aberdeen, Halifax group director, David Nicholson, said it was the most switched-to banking brand.

"We are now reintroducing Halifax as a stand-alone brand so we can really be a challenger on the high street in Scotland," Nicholson added.

In order to further position itself as a challenger bank, Halifax is planning to open new branches in Edinburgh and Glasgow in mid-2014, with focus on offering digital banking and mobile phone banking services.

A new branch of Halifax has already been opened in Aberdeen and will offer products such as the Reward Current Account, First Time Buyer mortgages and Children’s Savings products, reported heraldscotland.com.

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