The “free” AA breakdown cover which comes as a perk of holding a Halifax Ultimate Rewards account has survived the cut which has seen other benefits removed for customers.
As of September, purchase protection cover and travel accident cover will no longer be a free benefit of holding the Ultimate Rewards current account. The discount card scheme and price promise will also be axed at the same time.
Not only are these rewards being removed, the fee for holding the account is being increased from the current £12.50 to £15 a month. That means that customers will be paying an extra £30 a year for fewer benefits.
Halifax says, however, that the products they are removing were not the most popular attractions of the account anyway.
A spokesperson for Halifax said: “We found that there was very low awareness about these other benefits and minimal claims were made. This is the first time we have raised the prices on this account for three years, and have taken the opportunity to simplify it so it reflects the benefits that people want and use.”
The AA breakdown cover will actually be supplemented to offer home start assistance in addition to the regular car rescue cover.
Other benefits of the Halifax Ultimate Rewards account include mobile phone cover, home emergency cover and worldwide family travel cover. A fee-free overdraft of £300 is also standard on the account.
In addition, if you pay £1,000 or more into the Ultimate Rewards each month then a £5 bonus is added to your account. The spokesperson for Halifax pointed out that this could make the net cost of holding the account just £10 a month.
Are you looking for cheap rescue cover or annual breakdown provision? If so then use our comparison tables to the latest and best deals. Head there with a simple click to our Breakdown Cover Comparison page.