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Halifax to relaunch regular saver @10%+
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why are people talking about the 13th payment?
assuming 12 payments are all you can pay in to this account as per the T&C''s, and bearing in mind the account balance gets transferred to the "nominated account", why would anyone want to keep depositing after the account matures?
having paid in my 1st payment in mid June, i am assuming 11 more payments, the last being 1st May 2009?
what have i missed?0 -
why are people talking about the 13th payment?
assuming 12 payments are all you can pay in to this account as per the T&C''s, and bearing in mind the account balance gets transferred to the "nominated account", why would anyone want to keep depositing after the account matures?
having paid in my 1st payment in mid June, i am assuming 11 more payments, the last being 1st May 2009?
what have i missed?
I asked the same question and I got this reply:
http://forums.moneysavingexpert.com/showpost.html?p=11799207&postcount=528I'm hoping to get 13 payments in within 12 months:- Open account at end of June (25th ish) with a deposit of £500
- Setup SO to pay £500 on 1st of each month starting 1st July.
- 13th payment made on 1st June 09 and stays at promo rate until 'anniversary' on 25th June 09.
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why are people talking about the 13th payment?
assuming 12 payments are all you can pay in to this account as per the T&C''s, and bearing in mind the account balance gets transferred to the "nominated account", why would anyone want to keep depositing after the account matures?
having paid in my 1st payment in mid June, i am assuming 11 more payments, the last being 1st May 2009?
what have i missed?
I hadn't read it this way so I'm starting to wish I had saved the T&C's to my desktop now as I can't seem to find them in an easily accessible form on the website. I'm glad my Lloyds TSB monthly saver wasn't this complicated!0 -
At the end of the term (when it matures) your RS account will remain OPEN for another year, but the interest rate will be the prevailing rate at the time.why are people talking about the 13th payment?
assuming 12 payments are all you can pay in to this account as per the T&C''s, and bearing in mind the account balance gets transferred to the "nominated account", why would anyone want to keep depositing after the account matures?
having paid in my 1st payment in mid June, i am assuming 11 more payments, the last being 1st May 2009?
what have i missed?
Assume you have opened the 10% a/c on 9 June and have put £500 in in June, then you add £500 on 1 July and each month thereafter. Your last payment in THIS term would be 1 May 2009, but your a/c won't mature until, say, 9 June. If you make a payment on 1 June 2009, you will get it returned to you a week later, with very little benefit in interest.
Furthermore, if you let your RS continue, you won't be able to put anything else in in June 09 because you've already deposited that month - so your 2009/10 account will only have 11 months in it. Therefore, although it IS possible to fit in 13 payments, it will adversely affect your account next year.
Yes, but it will only stay at the promo rate for a maximum of 3 weeks, then will be returned to youBallandChain wrote:I'm hoping to get 13 payments in within 12 months:- Open account at end of June (25th ish) with a deposit of £500
- Setup SO to pay £500 on 1st of each month starting 1st July.
- 13th payment made on 1st June 09 and stays at promo rate until 'anniversary' on 25th June 09.
You've never seen me, but I've been here all along - watching and learning...:cool:0 -
Thanks Mike - I thought I was going mad! I can't be certain if that was only available for external SOs, but I feel sure you had the option to choose end date or number of payments - this is definitely a backward step. Think I'll write to them and see if the change is intentional (assuming there's an option to send them an email :rolleyes:)And ... I seem to remember thinking ... 'where's the end date' .. as I was left with something that merely specified 'monthly'. No end date and no 'number of payments' ..... both of which I'm sure I remember from the past?
.. so it appears the 'number' has disappeared. But I'm certain mine didn't give me an end date option either. Will investigate in more detail when I set the proper SOs up next week.You've never seen me, but I've been here all along - watching and learning...:cool:0 -
Good morning,
Sorry for pestering you guys with my questions. I will fly back to the Continent for a couple of days tomorrow and won´t be able to do anything about the RS account whilst I am there.
So, if there´s anyone on this thread who could help me with my questions asked in post #631 that´d be greatly appreciated! I would then be able to arrange the money transfers etc in the course of today.
Thank you very much!
DUS0 -
.. so it appears the 'number' has disappeared. But I'm certain mine didn't give me an end date option either. Will investigate in more detail when I set the proper SOs up next week.
I opened a RS yesterday and set up the S/O from my main Current Account afterwards (for some reason my main Current Account didn't appear in the list of accounts to set up the S/O from as I was opening the RS).
The options for an end date or to enter the number of payments was there yesterday
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On the left of the screen, click 'my preferences', then 'add account'. Next select 'savings account' from the drop down box and click 'go' - on the next screen you will enter your account number/roll number.Hi,
I read all the 32 pages of this thread and, yes, this was highly interesting but also very tiresome at times since I am not a native speaker. So whilst I managed to get through all the posts, I would need to ask some questions just to make sure I´ve understood everything.
So, here´s what I´ve done so far:
1/ Earlier this week I applied for the RS account via the HX website.
2/ Today, I received 2 letters from them. Letter 1 confirmed my application and provided me with my account details for both the RS and the nominated account, whuich turned out to be the Web Saver. Letter #2 is about me confirming my name and address details (for reasons of money laundering regulations).
This is the status as of tonight. The questions resulting from this are:
1/ What do I have to do to see these accounts online? Just register these 2 accounts via the HX website for online banking? How quickly will they send me my access details (user Id & PIN)?
(edit - ah, sorry - just read you don't yet have portal access - yes, just register for online access, but I can't remember if the access is live straight away or not - sorry. I would suggest you try it)
So long as you have your account number, you should be able to transfer the money today.2/ Can I transfer the first GBP 500 to the RS account tonight or do I have to wait for something else from HX? How can I check that the money has been cleared in the RS account as long as I do not have access to online banking?
Correct - the interest is too low to be worthwhile3/ It is my understanding that my nominated account, the Web Saver, is irrelevant for getting the 12%. Right?
Not sure about this - I don't know if you can change your Nominated Account afterwards - you would need to phone Halifax to ask.Now, in order to get the extra 2%, I want to go for the Guaranteed Saver (aiming for the 6.25%). Can I apply for this GS account online (tonight) and transfer the 5k into this account once it has been opened? Once set up will HX automatically notice that I am entitled to the extra 2% or do I have to let them know about my GS account (by phone or by going to one of their branches)?You've never seen me, but I've been here all along - watching and learning...:cool:0 -
LongTermLurker wrote: »Oh god - they haven't started using ICICI's patented "reliable application technology" have they? :rolleyes:
You're worrying me now! Just checked the S/O and it says first payment is for 23/6/08 and last is for 23/5/09 Am intending to change the date (and hopefully the amount!) after the first payment's gone.
Completely off topic... why am I still a newbie after over 2 years here? Is it because I don't say much?
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