Halifax Guaranteed Saver Reward

lipidicman

Just switched my current account from High Interest to the new Reward account (the £5 a month). Looking at the Guaranteed Saver Reward terms this isn't mentioned (as it did not exist at the time?) as a qualifying account. I was told in branch it was fine, but often they make mistakes. Has anyone had this confirmed, or have I made a terrible mistake

edit: The phoneline say the same thing, and the operator spoke to another department for the definitive answer before calling me back, so all seems well.

It would be silly if you had to keep a defunct account to qualify

info_addict

I kept the High Interest one in parallel with the Reward Account and just shuffle the £1,000 between them, to get the £5 and to comply with the Guaranteed Reward saver conditions.

As you say the Reward account isn't listed as a qualifying account and I wasn't prepared to take the chance

lipidicman

Clever solution, but the minimalist in me wanted just the one account. I hear they will convert the High Interest account anyway.

Sometimes you do have to believe what you are told, otherwise all trust in the banking industry would collapse..........hee hee.

melpomene

What do you mean by 'Convert' the High Interest account? That's what I have as my base account.

lipidicman

Covered here: redesignation is the term
http://forums.moneysavingexpert.com/showpost.html?p=18764835&postcount=9

I read that all the High Interest accounts will be migrated to Reward, however this could be wrong

melpomene

Thanks. I already had the HI current account & the Saver Reward, then I noticed one of the leaflets in branch one day & was advised to change my SR to Guaranteed Saver Reward to get a higher interest rate.

So has something new happened? I don't get it.

lipidicman

New? I'm not sure. My GSR was the 6% one last year. The Reward current account did not exist then so in the terms it was not listed as a qualifying account for the GSR. Appears it has been added to the list of qualifying accounts. That is what the branch and the phoneline say anyway

melpomene

Gotcha! I was getting confused by the new current account having the *Reward* tag. Maybe I should switch to it from my HI current account.