Halifax FRISA confirmed rate drop Monday 17th

jennifernil

No idea on that, but if you want to open it why not phone them?

Milarky

TCA wrote: »

Given that this product looks like it's being pulled on Monday, can I just ask those in possession of application forms if they know whether the fixed rate guarantee will apply to those who have requested forms by this date or whether it means they need to have them returned on Monday?

Halifax opens an account for you with nil balance during the phone call. They then fix the rate (for the period you asked for) when the funds arrive by transfer. But they will also note that the rate applicable will be the higher of the rate when you apply (by phone) and the rate at the date of arrival of funds provided the transfer completes in 60 days. This is confirmed to you in the course of the telephone conversation - which is in any case supposed to be recorded by them.

fullstop

Echo what Milarky said,

If you do not have a Halifax account they open a variable rate ISA first then send you the paperwork to transfer to it's fixed rate ISA, so I should get two transfer forms to fill in one from NS&I and another one transfering between Halifax accounts, seems a long winded way to go about things. As has already been mentioned if you apply before Monday they will honour the fixed rate.

yinnie

I'm in same position as many others still waiting for Icesave ISA second email. I just called up Halifax and the chap said that the rate is not guaranteed until the funds come in. Told him that many people had received information to the contrary and he was firm that the info they'd been given was wrong. Is it worth calling again later to see if I get a different response from someone else? I mean he was not even aware of what happened with Icesave until he checked with a colleague - maybe he's just going by what the website says?

twr25

The current 5.25% isnt a bad rate, bit gutted I didnt go ahead with it at the weekend but didnt realise you could only deposit once.

jd84

I opened one of these at the weekend and was given the sort code and account number.

Do you think I can transfer my Icesave ISA money in by BACS before the paper certificate turns up from the FSCS?

I imagine they would probably try and send it back until they can confirm it is genuine ISA funds.

Baldur

contactjd wrote: »

I imagine they would probably try and send it back until they can confirm it is genuine ISA funds.

Have you tried asking them?

jd84

no not yet!

jennifernil

I rang again yesterday just to check AGAIN about the interest rate. Yet again I have been reassured that we will get the 5.45% rate. The explanation I got is as follows.................

You can only make one deposit so they have to first open a variable rate ISA if you are transferring in as otherwise the fixed account would not let you make the deposit later. Sounds like a case of dodgy software!!

Anyway, that's how it is. To deposit your Icesave money you need the certificate, the money and a transfer form (from branch or on line). You then take this all into a branch or send it to them. Once it is processed the fixed account is opened.

What I forgot to ask is when the 1 year starts.

fullstop

jennifernil wrote: »

I rang again yesterday just to check AGAIN about the interest rate. Yet again I have been reassured that we will get the 5.45% rate. The explanation I got is as follows.................

You can only make one deposit so they have to first open a variable rate ISA if you are transferring in as otherwise the fixed account would not let you make the deposit later. Sounds like a case of dodgy software!!

Anyway, that's how it is. To deposit your Icesave money you need the certificate, the money and a transfer form (from branch or on line). You then take this all into a branch or send it to them. Once it is processed the fixed account is opened.


What I forgot to ask is when the 1 year starts.

I was told in a branch today, that the term starts on the date when the account is credited.