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Halifax blunder: opened a 1 year ISA instead of 4 year fix!
jazzyb88
Posts: 36 Forumite
Hi,
A family member recently told me about their Halifax ISA which they thought was on 2012/2013's 4 year fix at 4.35% turned out to be at a 1 year fix of 3% and has now dropped to 0.25%.
They told me that they opened the account in branch and they specifically called out the 4 year fix to the representative. Everything seemed to be fine and they went away thinking it was all done.
However, they did not come to know the mistake until the anniversary statement came through the post. Between opening the account and the statement in April, they said they received no other paperwork!
Given the circumstances, I would think it is worth complaining to Halifax on this but not sure what evidence there is to back up our claim? Could Halifax just argue that they sent out the paperwork and if it was not received, someone should have followed up?
Any advice would be appreciated!
A family member recently told me about their Halifax ISA which they thought was on 2012/2013's 4 year fix at 4.35% turned out to be at a 1 year fix of 3% and has now dropped to 0.25%.
They told me that they opened the account in branch and they specifically called out the 4 year fix to the representative. Everything seemed to be fine and they went away thinking it was all done.
However, they did not come to know the mistake until the anniversary statement came through the post. Between opening the account and the statement in April, they said they received no other paperwork!
Given the circumstances, I would think it is worth complaining to Halifax on this but not sure what evidence there is to back up our claim? Could Halifax just argue that they sent out the paperwork and if it was not received, someone should have followed up?
Any advice would be appreciated!
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Comments
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Given the circumstances, I would think it is worth complaining to Halifax on this but not sure what evidence there is to back up our claim?
This should be very straightforward. Halifax will have a copy of the original application and copies of the letters sent out verifying the terms. Documentation is King on a complaint like this.Could Halifax just argue that they sent out the paperwork and if it was not received, someone should have followed up?
If the paperwork shows 1 year was chosen then its game over. If it shows 4 year then it would be upheld. It is really as simple as that.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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