Halifax Guaranteed Saver Reward

Sinc19

Hi

I've put my Guaranteed Saver as the nominated account for when my 10% Regular Savings account matures. I want the extra 1% with the Guaranteed Saver Reward, so was wondering does anyone know whether I would lose the extra 2% bonus on my Regular Savings account if I were to transfer the balance on the old Guaranteed Saver to a new one?

Hope that makes sense.

Thanks.

Mikeyorks

I'm assuming you have at least £5k in the Guaranteed Saver - in order to attract the extra 2% on the Reg Saver? Provided you don't make above 1 withdrawal (and you funded the GS within 20 days of opening the RS) from the GS ..... then it should attract the 'Reward' status.

As the Guaranteed saver and the Guaranteed Saver Reward are essentially the same account. You just get the 'Reward' bit (special offer - expires 10/8??) if you adhere to minimum funding / don't make more than 1 withdrawal. You can't open a GS 'Reward' account specifically - the application is just for a GS and that's all you see on your Portfolio. But it starts out at 6.25% ..... and I presume that rate would drop only if you make > 1 withdrawal?

Sinc19

Mikeyorks wrote: »

I'm assuming you have at least £5k in the Guaranteed Saver - in order to attract the extra 2% on the Reg Saver? Provided you don't make above 1 withdrawal (and you funded the GS within 20 days of opening the RS) from the GS ..... then it should attract the 'Reward' status.

As the Guaranteed saver and the Guaranteed Saver Reward are essentially the same account. You just get the 'Reward' bit (special offer - expires 10/8??) if you adhere to minimum funding / don't make more than 1 withdrawal. You can't open a GS 'Reward' account specifically - the application is just for a GS and that's all you see on your Portfolio. But it starts out at 6.25% ..... and I presume that rate would drop only if you make > 1 withdrawal?

Hi thanks for replying.

Potential problem is I've got the old GS (attracting a pathetic 5.25%) with the necessary balance for the bonus 2%.

I was wondering if I could switch from the old GS to the new GSR and switch the nominated a/c for the RS to the new GSR at the same time, without losing the bonus 2% on the RS account. I'm thinking "no", but will probably pop into a branch and ask to make sure. It's an extra £40 on basic rate tax (£5,000 x (6.25%-5.25%) x 80%), so worth the bother in my opinion. Tried to see someone yesterday lunchtime at a branch but they were all booked out.:mad:

Thanks

opinions4u

Mikeyorks wrote: »

As Jem says - I would leave it if it's now showing the correct 6.25%. It should show on your Portfolio as a Guaranteed Saver? If it does that - and at 6.25% - then leave well alone.

But I can't clarify where the 2.8% came from. If you're under 21 then the system thought you had the 'Saver' account at some point .... can't understand why it would then change with no apparent reason.

The 2.8% is paid on any Savings account for an under 21 that doesn't qualify for a higher rate. During the first couple of days of cheque clearance my guess is that your balance is below £2,500 (excluding the cheque) so the account pays you 2.8% until the cheque also qualifies for interest at which point you jump to the 6.25%.

AHSPT

kieran2oo5 wrote: »

i applied online for it, by clicking on one of the banner ads on their site.
when i go into my internet banking accont it has the account as Halifax Guaranteed Saver, I phoned halifax and they said that yes it is the saver reward but just comes up without the reward part. i didnt say anything about the 2.8% because it didnt say any interest rate in my online account at that point!

btw thanks i will have to phone them again tomorrow!

oh what about if i opened it with a check could that be the reason, it wont clear untill 13th but the guy on the phone said it doesnt matter i will still get the 6.25%

Check the type of account that you have. There is a world of difference in the interest rate between a Halifax Guaranteed Saver/ Reward and a Halifax Saver Reward.