How millions of Halifax customers can get free £200 before bank disappears forever

The brand is set to disappear after 173 years

It has been announced today that Lloyds Banking Group is axing the Halifax brand, meaning the near two-century-old former building society's name will no longer appear on the UK high street.

With the disappearance of Halifax, accounts under the bank will begin shifting over to Lloyds branding in the coming days.

Halifax signs from around 190 branches will be removed from early 2027, although no branches will be closed due to the change.

Lloyds Banking Group has been operated under three brands since 2009 , Lloyds, Halifax and Bank of Scotland.

This merger came following the 2008 financial crisis.

The decision will leave Lloyds as the only representative of the group in England, Wales and Northern Ireland from next year.

Of course, Bank of Scotland will remain in Scotland.

The group assured customers that sort codes and account numbers will not be affected.

How Halifax customers can get £200

While this deal isn't specific to Halifax customers, it might be slightly more relevant with those not wanting to be shifted over to Lloyds, while the timing is ideal.

Usually, Money Saving Expert Martin Lewis shares the best offers with his dedicated money-saving followers and this one certainly offers a great deal.

Many banks offer switching rewards, and the best of the bunch is First Direct, offering £200 (£175 with a £25 boost on top) for switching to their current account with no monthly fee, if you click here.

You have to be a brand new customer to First Direct to be eligible.

The Halifax legacy

The decision has proven controversial among many, with the decision leading to the removal of one of the most famous high-street brands.

Halifax was set up in 1853 as a building society in the wake of housing shortages and overcrowding prompted the founding of the Halifax Permanent Benefit Building Society.

It allowed members to earn interest on deposits, and borrow funds to buy or build their own home.