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  • FIRST POST
    • anotherginger
    • By anotherginger 16th Jun 12, 7:08 PM
    • 391Posts
    • 310Thanks
    anotherginger
    Halifax ISA Maturity Instructions
    • #1
    • 16th Jun 12, 7:08 PM
    Halifax ISA Maturity Instructions 16th Jun 12 at 7:08 PM
    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?
Page 1
  • innovate
    • #2
    • 16th Jun 12, 7:42 PM
    • #2
    • 16th Jun 12, 7:42 PM
    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.
    • anotherginger
    • By anotherginger 16th Jun 12, 7:45 PM
    • 391 Posts
    • 310 Thanks
    anotherginger
    • #3
    • 16th Jun 12, 7:45 PM
    • #3
    • 16th Jun 12, 7:45 PM
    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
  • innovate
    • #4
    • 16th Jun 12, 8:12 PM
    • #4
    • 16th Jun 12, 8:12 PM
    Anyone have any idea if Halifax contact you to ask what specific account you want?
    Originally posted by anotherginger
    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.
    • anotherginger
    • By anotherginger 16th Jun 12, 8:41 PM
    • 391 Posts
    • 310 Thanks
    anotherginger
    • #5
    • 16th Jun 12, 8:41 PM
    • #5
    • 16th Jun 12, 8:41 PM
    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?
    • bryanb
    • By bryanb 16th Jun 12, 8:44 PM
    • 4,764 Posts
    • 3,470 Thanks
    bryanb
    • #6
    • 16th Jun 12, 8:44 PM
    • #6
    • 16th Jun 12, 8:44 PM
    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 !
    • bryanb
    • By bryanb 16th Jun 12, 8:46 PM
    • 4,764 Posts
    • 3,470 Thanks
    bryanb
    • #7
    • 16th Jun 12, 8:46 PM
    • #7
    • 16th Jun 12, 8:46 PM
    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 !
  • innovate
    • #8
    • 16th Jun 12, 8:46 PM
    • #8
    • 16th Jun 12, 8:46 PM
    Thanks for your replies, but I sense you don't get what I'm asking.
    Originally posted by anotherginger

    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.
  • innovate
    • #9
    • 16th Jun 12, 8:47 PM
    • #9
    • 16th Jun 12, 8:47 PM
    Halifax look good for fixed ISAs today. Can't really better it in a high street bank.
    Originally posted by bryanb

    Are you sure????????
    • bryanb
    • By bryanb 16th Jun 12, 8:49 PM
    • 4,764 Posts
    • 3,470 Thanks
    bryanb
    Are you sure????????
    Originally posted by innovate

    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 !
  • innovate
    Halifax look good for fixed ISAs today. Can't really better it in a high street bank.
    Originally posted by bryanb

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


    http://forums.moneysavingexpert.com/showthread.php?t=401374
  • bankhater 1965
    the cheshire building society is very good rate !
    • bryanb
    • By bryanb 16th Jun 12, 8:56 PM
    • 4,764 Posts
    • 3,470 Thanks
    bryanb
    Sorry, meant to do a John MCenroy - ARE YOU SEROIUS???


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

    Edit. Just realised you must be a tennis fan!
    Last edited by bryanb; 16-06-2012 at 9:05 PM.
    This is an open forum, anyone can post and I just did !
    • bryanb
    • By bryanb 16th Jun 12, 8:56 PM
    • 4,764 Posts
    • 3,470 Thanks
    bryanb
    the cheshire building society is very good rate !
    Originally posted by bankhater 1965
    Yes but hardly a high st bank.
    This is an open forum, anyone can post and I just did !
  • bankhater 1965
    Yes but hardly a high st bank.
    Originally posted by bryanb
    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
    • bryanb
    • By bryanb 16th Jun 12, 9:04 PM
    • 4,764 Posts
    • 3,470 Thanks
    bryanb
    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
    Originally posted by bankhater 1965
    None really, what are they offering for 3yr fixed?
    This is an open forum, anyone can post and I just did !
  • bankhater 1965
    None really, what are they offering for 3yr fixed?
    Originally posted by bryanb
    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
    • anotherginger
    • By anotherginger 16th Jun 12, 9:11 PM
    • 391 Posts
    • 310 Thanks
    anotherginger
    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.
    Originally posted by innovate
    "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.
  • innovate
    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.
    Originally posted by anotherginger
    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
    • ScarletBea
    • By ScarletBea 16th Jun 12, 9:40 PM
    • 2,717 Posts
    • 3,895 Thanks
    ScarletBea
    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?
    Originally posted by anotherginger
    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.
    Last edited by ScarletBea; 16-06-2012 at 9:47 PM.
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