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Halifax ISA Maturity Instructions
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# 1
anotherginger
Old 16-06-2012, 7:08 PM
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Default Halifax ISA Maturity Instructions

Does anyone know how the Maturity Instructions work?

http://www.halifax.co.uk/savings/maturity-instructions/

I filled in the first form expecting to be able to choose which account I wanted to use after the maturity of my ISA.

Will they contact me to find out which account I want my next ISA to be? Or will they just put it in the equivalent of the ISA I already have?
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# 2
innovate
Old 16-06-2012, 7:42 PM
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You do not have to stick with Hailfax with your ISA

Check out the best available cash ISAs thread. I doubt Halifax will figure amongst your best options.

You may do a lot better transferring your ISA. Check the main site article for more.
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# 3
anotherginger
Old 16-06-2012, 7:45 PM
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I currently have an offer accepted on a property so I might need access to the money in the near future, probably around the time that my ISA direct reward matures. I don't want the money to be missing in the ether for a few days, and then have to go through getting online banking set up etc...

I diary date the maturity of my ISA each year, and usually try to find the highest interest, but this is the first occasion where I'll need it, and I don't want it to revert to their ISA Saver Direct which is at 0.5%.

Anyone have any idea if Halifax contact you to ask what specific account you want?

Last edited by anotherginger; 16-06-2012 at 7:45 PM. Reason: spelling
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# 4
innovate
Old 16-06-2012, 8:12 PM
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Quote:
Originally Posted by anotherginger View Post
Anyone have any idea if Halifax contact you to ask what specific account you want?
Other than by accident, any bank is unlikely to tell you what the best available alternative is. All they have to tell you, according to their T&Cs, is the interest rate of the account they migrate you to. You will have to check what Halifax suggested, by it is rarely the best Halifax rate, and most certainly not the best industry rate, since Halifax don't appear to ever to top the league.

If you are likely to have very near term needs for your funds, interest rates of Halifax or any other bank are most likely completely irrelevant.You'd get a few pennies from anywhere, at max - no point in moving your funds for better interest rates.

If you don't need your ISA funds in the near or medium term, opening a new ISA and asking the new ISA provider for a transfer might be a good idea. See the previous link for the best available rates.
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# 5
anotherginger
Old 16-06-2012, 8:41 PM
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Thanks for your replies, but I sense you don't get what I'm asking.

My question is specifically in relation to what Halifax do when this form is completed - http://www.halifax.co.uk/savings/maturity-instructions/

I already know what my ISA will become on maturity of the account, and I already know which account I would prefer my ISA to become. I don't expect the bank to tell me what the best alternative is, I've found it.

I have had a variety of ISA's over the past decade and have never had a problem in choosing the best account for me, whether it be short, medium or long term.

Again, in relation to my original question, when the online form is filled out, what action do Halifax take?
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# 6
bryanb
Old 16-06-2012, 8:44 PM
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Halifax look good for fixed ISAs today. Can't really better it in a high street bank.
This is an open forum, anyone can post and I just did !
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# 7
bryanb
Old 16-06-2012, 8:46 PM
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When you fill in maturity instruction form they will do as you've asked on the form
This is an open forum, anyone can post and I just did !
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# 8
innovate
Old 16-06-2012, 8:46 PM
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Quote:
Originally Posted by anotherginger View Post
Thanks for your replies, but I sense you don't get what I'm asking.

What is your question?


If you want to know what action Halifax will take [based on whatever your request is], you will have to ask them.
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# 9
innovate
Old 16-06-2012, 8:47 PM
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Halifax look good for fixed ISAs today. Can't really better it in a high street bank.

Are you sure????????
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# 10
bryanb
Old 16-06-2012, 8:49 PM
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Originally Posted by innovate View Post
Are you sure????????

They are offering 4-4.5 % based on how long you fix for. Equalled by Santander but I'm prejudiced against them.
This is an open forum, anyone can post and I just did !
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# 11
innovate
Old 16-06-2012, 8:51 PM
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Quote:
Originally Posted by bryanb View Post
Halifax look good for fixed ISAs today. Can't really better it in a high street bank.

Sorry, meant to do a John MCenroy - ARE YOU SEROIUS???


http://forums.moneysavingexpert.com/...d.php?t=401374
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# 12
bankhater 1965
Old 16-06-2012, 8:53 PM
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the cheshire building society is very good rate !
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# 13
bryanb
Old 16-06-2012, 8:56 PM
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Quote:
Originally Posted by innovate View Post
Sorry, meant to do a John MCenroy - ARE YOU SEROIUS???


http://forums.moneysavingexpert.com/...d.php?t=401374
Not following what you're saying, Halifax tops the table in Kazza's thread.

Edit. Just realised you must be a tennis fan!
This is an open forum, anyone can post and I just did !

Last edited by bryanb; 16-06-2012 at 9:05 PM.
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# 14
bryanb
Old 16-06-2012, 8:56 PM
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the cheshire building society is very good rate !
Yes but hardly a high st bank.
This is an open forum, anyone can post and I just did !
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# 15
bankhater 1965
Old 16-06-2012, 8:59 PM
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Quote:
Originally Posted by bryanb View Post
Yes but hardly a high st bank.
whats the differance !! i have 2 isa with them 3.05% 1 years fixed but up to £10,000 , that was in april this year
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# 16
bryanb
Old 16-06-2012, 9:04 PM
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Originally Posted by bankhater 1965 View Post
whats the differance !! i have 2 isa with them 3.05% 1 years fixed but up to £10,000 , that was in april this year
None really, what are they offering for 3yr fixed?
This is an open forum, anyone can post and I just did !
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# 17
bankhater 1965
Old 16-06-2012, 9:09 PM
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None really, what are they offering for 3yr fixed?
im not sure i dont like doing it any more than 12 months at a time as the rates and deals change so much every year ,i no they do something with legal and general aswell but you will have to google it i reckon
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# 18
anotherginger
Old 16-06-2012, 9:11 PM
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Quote:
Originally Posted by innovate View Post
What is your question?


If you want to know what action Halifax will take [based on whatever your request is], you will have to ask them.
"when the online form is filled out, what action do Halifax take?" (in reference to the maturity instruction form)

It's not an impossible question. I imagine someone has filled in the form before, otherwise the Halifax wouldn't refer to it in their letters and wouldn't actually have it on the website!

If you don't know the answer, then don't get snotty with me. I have linked to the online form for reference. This form, when completed, doesn't seem to actually do anything when it is filled out.

If anyone out there, who has used the form, knows what happens as a result of filling it out then let me know. Your help is appreciated.

Bryanb - The form does not ask the question about what account you want. You can choose a term length, frequency of interest payments, and what account the interest paid to. this would not determine a single named account.

Jeepers, the attitudes on here aren't really necessary.
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# 19
innovate
Old 16-06-2012, 9:17 PM
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Quote:
Originally Posted by anotherginger View Post
If you don't know the answer, then don't get snotty with me. I have linked to the online form for reference. This form, when completed, doesn't seem to actually do anything when it is filled out.
I am not getting snotty with you.

Halifax are not giving you the best available ISA interest rates.

So the answers to their forms are irrelevant
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# 20
ScarletBea
Old 16-06-2012, 9:40 PM
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Quote:
Originally Posted by anotherginger View Post
Does anyone know how the Maturity Instructions work?

http://www.halifax.co.uk/savings/maturity-instructions/

I filled in the first form expecting to be able to choose which account I wanted to use after the maturity of my ISA.

Will they contact me to find out which account I want my next ISA to be? Or will they just put it in the equivalent of the ISA I already have?
I've done the matury reinvestment instructions 2 weeks ago and there was a field there where you select the number of years (I did it for the 3 years at 4%), didn't you see that?
Then on the maturity day, I went to my online banking and the account had moved (it was previously 3%, now it shows 4%).

And ignore her... even on this site Halifax is top for 3-5 years.
You know, there are more considerations than just pure rate: I for one always choose a bank where either I already have an account or where it's got a branch in my town, to avoid sending stupid ID docs over the post.
Being brave is going after your dreams head on

Last edited by ScarletBea; 16-06-2012 at 9:47 PM.
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