Halifax Guaranteed Saver Reward

oshoshitzu

lipidicman wrote: »

Glad to see everything went OK. I was worried today was going to be the withdrawal day.

Thanks.
One of the Halifax staff told me that if the present rate were to be pulled early, then she did not think this would happen for another week as her branch usually receives the posters with the new rate a number of days before the existing rate is pulled.

Essex123

I'm already set-up for the Halifax online service, but do not have a current account with them.

Does anyone know if its possible for me to open both a current account and Reward Saver account online now, and then fund the Savings account in branch on Monday?

Thanks!

Mikeyorks

oshoshitzu wrote: »

One of the Halifax staff told me that if the present rate were to be pulled early, then she did not think this would happen for another week as her branch usually receives the posters with the new rate a number of days before the existing rate is pulled.

As post #49 correctly infers .... this is a fixed rate product (subject to T&Cs). So it is the product which could be pulled before the published 1st December closing date .... the rate won't be affected.

apt

When Halifax was paying well above the market rate with the 10% Regular Saver in July they kept the promotion going until the original cut-off date. That might also be the case with this offer because the bank still needs all the capital it can get and the product is being heavily advertised in the branches. It's also a way of tying customers into a Halifax current account at a time when there could be a substantial cut in the 5.12% paid by the High Interest Current Account. But it would still be a risk waiting until the end of November to put in the £2,500 initial deposit.

opinions4u

Essex123 wrote: »

I'm already set-up for the Halifax online service, but do not have a current account with them.

Does anyone know if its possible for me to open both a current account and Reward Saver account online now, and then fund the Savings account in branch on Monday?

Thanks!

Both are dead easy to set up online (a few years since I did the current account, the other day for the Gtd Saver Reward).

If you hold the funds in a Halifax account at the moment, you should be able to fund internally and online and not have to set foot in one of those busy branchy things on a Monday morning!

Essex123

OK, my two accounts were indeed really easy to set-up on line, although I couldn't fund as the only available dosh I have with Halifax is £10 in the Websaver which was set-up at the same time as my 10% Regular Saver.

My plan is to head to the Yorkshire BS tomorrow and pull the £14k I've been building up with them in the Reg Saver over the last 2 years. Rate on that is 5.85% currently, but bound to fall substantially in line with recent BOE reduction.

Then all I need to worry about is finding another £1000 before the end of the month to dump into the Current Account!

Fingers crossed the product is not withdrawn in the morning!

rb10

Mikeyorks wrote: »

As post #49 correctly infers .... this is a fixed rate product (subject to T&Cs). So it is the product which could be pulled before the published 1st December closing date .... the rate won't be affected.

I think you misunderstand oshoshitzu - IF the product was to be pulled within the next few days, then the branches would now need to have posters for something else to replace the Guaranteed Saver Reward ones which are currently plastering the insides of branches. As they don't yet have these posters, chances are the account will continue for the short term future at least.

LongTermLurker

rb10 wrote: »

I think you misunderstand oshoshitzu - IF the product was to be pulled within the next few days, then the branches would now need to have posters for something else to replace the Guaranteed Saver Reward ones which are currently plastering the insides of branches. As they don't yet have these posters, chances are the account will continue for the short term future at least.

Not if there's nothing to replace them with...

No-one knows, so a wise man would not "bank" on it staying available and would get in while they can to avoid potential disappointment.

Mikeyorks

rb10 wrote: »

I think you misunderstand oshoshitzu -.

.... must admit I didn't take the internal decor of the Branches into account!

But, no, I don't think I misunderstood. There were several prior posts (#49 was responding to one of them .... also see #39) mentioning the perceived risk of the rate reducing.

For what it's worth - whilst Halifax are utterly crap at telling customers of rate reductions. Where they announce a specifically dated offer .... I've never known them pull it early. And they don't play the 'open until fully subscribed' game either ..... so you generally know where you are with them.

YorkshireBoy

Mikeyorks wrote: »

Where they announce a specifically dated offer .... I've never known them pull it early.

I seem to remember they pulled the £100 current account switching offer a week early 18 months ago. Despite the offer running for a considerable time, there were still some grumbles from those who 'missed out'. :rolleyes: