Halifax Websavers - change NOW for better interest!

cloudpegs

Mikeyorks wrote: »

Yes!

It won't allow you to do it as an interactive transaction. But if you do it as a SO ..... it just ignores the zero balance until you rectify it!

I've had 2 feeder accounts for the 7% RS for several years .... and they go to £zero for several weeks as the last payment goes out. And then don't return to a positive balance until the RS matures into them. Has had no effect.

But if you attempt an internal transfer that creates £0 ..... it won't let you. Obviously 2 different programmers!!

It works with the cash machine as well.

If you have the websaver with card option, you can go online to your accounts and create a new transfer and it will allow you to transfer money to and from your websaver using the Halifax cash machine.
I tried it once and it allows you to transfer the whole websaver balance to another account using the cash machine.

There doesn't appear to be any penalties -- yet.

Mikeyorks

FairyElephant wrote: »

You can change the account which your standing order goes from online, but this does not change the 'nomintaed account' which it will pay into at the end of the term - so I have been told by Halifax CA.

For a change they appear to be giving realistic and consistent advice ..... as that is the only way to change the nominated account. It's not a 'user' facility.

But if anyone has £5k+ in the nominated account - in order to get the extra 2% (10% >>>12%) - I would be a bit cautious about switching the nominated account mid-stream? At least not before clarifying that doesn't breach the terms of the 2nd bullet point :-

At least £5,000 needs to be in your account:

• within 14 days of making your Regular Saver opening payment
• for 12 months from the date of your opening payment, and
• keep to the conditions of both your nominated account and the Regular Saver account

Kavanne

Haha Halifax just sent me an email about this, heh

superstar_2

Just closed one of my old web savers and was told that they need up to 8 working days to transfer the fund+interest.
Their reason - it takes 8 days to calculate the interest.

Mikeyorks

Don't understand that. If you close online it does give a message to the effect that it will take up to 4 days to close the account. But if you're transferring the funds internally within Halifax ..... the capital + interest has been there, the following day, in 3 Websavers I closed just last week.

Having said that I'm not sure the overnight Batch they run on a Sat would achieve the same .... but it works overnight Mon-Fri. But unsure how long it actually takes to close the account after the proceeds are removed - as I just tend to remove them off my Portfolio at that point.

superstar_2

Mikeyorks wrote: »

Don't understand that. If you close online it does give a message to the effect that it will take up to 4 days to close the account. But if you're transferring the funds internally within Halifax ..... the capital + interest has been there, the following day, in 3 Websavers I closed just last week.

Having said that I'm not sure the overnight Batch they run on a Sat would achieve the same .... but it works overnight Mon-Fri. But unsure how long it actually takes to close the account after the proceeds are removed - as I just tend to remove them off my Portfolio at that point.

I had some problems online so had o ring them up to close my account.

superstar_2

superstar wrote: »

Just closed one of my old web savers and was told that they need up to 8 working days to transfer the fund+interest.
Their reason - it takes 8 days to calculate the interest.

Its been one calendar week, and it's still NOT in yet! Bloody annoying!