Thank you for responding to my enquiry.

In answer to your question. My pension of £650 a month is paid into my account and then after I have paid mortgage and direct debits I am usually left with about £200.

I do feel that I am penalised with regards to earning interest because I do not have the capacity to pay in or have paid in the £1000 that these current account providers require.

However, it does seem from what you are saying that I am better to hold on to this account. My ISA is a good rate so I will continue to move any excess at the end of the month into that account.

dink12:

NO NO NO.

Any interest earned (peanuts) is dwarfed by the possibility of massive charges if you run too close to zero.

I take it you are saying you pay in £650/month and have outgoings of £650/month. ie you start and end with a £200 balance?

Some accounts, usually those with benefits of debatable value, do impose a minimum funding requirementt but not all.

Move if you are not happy with the Halifax service, otherwise stay.

Separately make sure your ISA is getting a reasonable rate.

I have had a current account with the Halifax for years. I am now medically retired and my small pension of £650.00 a month is paid into it. After normal outgoings the balance in my account is usually about £200. I earn virtually no interest and do not have any outstanding debt or overdraft. I do have an ISA with Alliance & Leicester.

Should I move the balance monthly into my ISA or should I change my current account to a new provider or will I not even be accepted by another bank unless I am paying in at least £1000.00 per month?