Halifax customer = Bank of Scotland customer???

oliver_m_2

Hi there,

I'm having a current account with Halifax and also doing
online banking with Halifax. I'm *not* a Bank of Scotland customer.

But I'm interested in "Bank of Scotland Instant Access Savings Account Reward"
paying 6.50% AER guaranteed for 12 months on balances from £1+. See here
http://www.bankofscotlandhalifax.co.uk/savings/BOSinstantaccesssavingsaccountreward.asp?source=NETGOOGLSAVEWS910001

So I'm wondering whether I can open that Bank of Scotland account
straight away online when I sign in into Halifax account?

Also I'm keen to know whether there is also money transfered from Bank
of Scotland into Halifax (and vice versa) in seconds (as they are both
belonging to the HBOS group)?

Thank-you!

thumshie

IIRC You can't open it online after signing into halifax, though once the account is open you can 'add' it to your accounts once you have the roll number / sort + account#.

Transfers are instant - already were before the roll out of FP....

oliver_m_2

Transfers are instant - already were before the roll out of FP....

Thanks for your answer!
What does FP mean? Sorry, I'm not a native speaker.

Also what does the whole sentence mean:
"already were before the roll out of FP...." ?

jem16

oliver_m wrote: »

Thanks for your answer!
What does FP mean? Sorry, I'm not a native speaker.

FP = Faster Payments

Also what does the whole sentence mean:
"already were before the roll out of FP...." ?

The Faster Payments scheme has been introduced in the UK from 27th May but not all banks are participating yet and some can receive but not send Faster Payments.

As Halifax and Bank of Scotland accounts are all under the one login transfers are instantaneous.

To open the IASA you must apply through the Bank of Scotland website even though you already have a current account with the Halifax - it's not one that can be opened from within online banking unfortunately.

jennifernil

I have just opened one of these accounts on-line. As an existing HBOS customer it only took a few minutes, but you do have to go to the BOS website.
You are only allowed 4 withdrawals per year, but it serves my purposes as it is easy to transfer to Halifax where we have several other accounts.

oliver_m_2

Well, as a Halifax customer I have just applied for one of these accounts.
After the application process the following window is poping up

Thank you. Your application has now been submitted. We will contact you within the next 14 days to confirm that your
application has been successful and to inform you of your next steps. You can now close this window.

According to the offer

For a limited time only earn a huge 6.50% AER. Open from just £1 and make 4 withdrawals in the 12 month reward period. Open and fund your account before 10 August 2008.

I have to fund the account before 10 August 2008. During the application I have asked to fund
the new account from my Halifax current account. Mm, the question is if Bank of Scotland
needs up to 14 (working?) days to confirm my application will the offer be expired by then?

oliver_m_2

jennifernil wrote: »

You are only allowed 4 withdrawals per year, but it serves my purposes as it is easy to transfer to Halifax where we have several other accounts.

Hence my plan is to split my savings and open two accounts. Then I would have 8 withdrawals per year. After all this money is to fund my Halifax Regular Saver paying 10%.
Is it possible to open two accounts? I mean while my first application is still in progress can I apply for a second one?

jennifernil

I would think so, I have 2 of their IASAs. Do the T&Cs say only one account? If not then you are ok.

My e mail was a little different,it said "we will open your account and send you confirmation of this and any next steps within the next 14 days"