Halifax Cutting Rates from 1/12/08

masonic

alared wrote: »

If some people`s rate is showing as 5% and others N/A,then something is clearly wrong.

My rate started off as N/A and then changed to 5% 24 hours after I funded the account with £50.

YorkshireBoy

alared wrote: »

I like to see the rate or at least get a letter confirming it.

I don't have it with me at the moment, but I'm sure I received a one-page 'welcome to your new account' letter last July for the (then) 5.8% WebSaver account which showed the rate?

Hopefully in the absence of a rate actually showing online, the letter will put your (and my) mind at ease.

paranoid-taxpayer

wilksy007 wrote: »

I opened this account just in time, looks like the offer has closed.

I'm planning to buy a house when things settle down a bit, and was just wondering if I use this account to hold the majority of my savings, would i get penalised if i withdrew a large ammount? I have had a look and it seems as long as I leave £50 in there I should be fine?

1. Can you withdraw from this account to a current account outside of Halifax?
2. What is the maximum you can withdraw in one transaction. Most internet transactions are limited to 10K.
3.Does the withdrawal out to a non halifax current account go by fast payment?

Any info greatly appreciated.

jem16

paranoid-taxpayer wrote: »

1. Can you withdraw from this account to a current account outside of Halifax?

Yes.

2. What is the maximum you can withdraw in one transaction. Most internet transactions are limited to 10K.

£10k

3.Does the withdrawal out to a non halifax current account go by fast payment?

Halifax faster payments are not working very well at the moment, if at all!

Trollop

Thanks for the responses people.

The confusion grows, I spoke to customer services and after being put on hold and talking to various people who didn't know anything, they said that I wouldn't be entitled for the Web Saver Reward account at the end of year if I had selected the cash card option. I tried to argue the case, about how confusing the whole application process was and why the option even there, if you were opening the Web Saver Reward, but they told me that I should have read the terms and conditions before hand (which is true), but even a simple line next to this option in the application process stating that if you choose this option you won't be entitled to the Reward Saver account would have helped but anyway.

After fighting a losing argument with the manager, I asked them to check whether I had actually selected this option, and they came back and told me I hadn't? Apparently there is no mention of me requesting a cash card on the details they were looking at. I could have sworn that I chose this option, as i remember stating the withdrawal limit. Anyway I was pleasantly surprised. I'm gonna still ring back tomorrow (24hrs after account has been opened) to ensure my account says 5% under the interest rate field just be sure.

Have to say though, the whole application process for the Web Saver Reward account is a right old mess.

amcluesent

Opened my 'reward' account on 29th Nov, initially funded by £51 from by existing web saver, no cash card. Just checked and it's STILL showing current rate as 'N/A'

Halifax? EPIC FAIL!

I hope the twerp who dreamed this up gets the sack. Oh wait, they've all been nationalised now. No wonder customer service is down the bog.

gelato_cat

When I opened mine yesterday, before I got to the application form it said very clearly "this is very important - make sure you do NOT choose the option with the cash card" as this would not give me the reward rate.

Suze

Trollop wrote: »

Another confused person here

I opened and funded what I believe is the Web Saver Reward account today, however during the online application process, it made mention of whether you wish to receive a cash card, which I naively assumed would not cause any drama and selected yes to this option, however reading through the terms and conditions it mentions:

For Halifax Web Saver Rewards opened during the limited period from 5 November 2008 to 1 December 2008, the fixed reward interest rate applies for a year following receipt of the opening deposit into your variable rate without card option

Now as I selected the cash card option during the application, will this mean I won't be entitled to the reward bonus (5% fixed) after 12 months even if I meet all the other restrictions? (make less than 4 withdrawals in the year and ensure the account has at least £50 deposited)

Any info would appreciated.

10_66

10_66 wrote: »

Despite Halifax telling me that I could open this Web Saver Reward (the one I opened in July is shown as a variable Web Saver when I see it online), the rate's still showing as N/A, so I gues it hasn't permitted it. If they're going to have these stipulations attached to these accounts, I wish to God they'd show the proper name as Web Saver Reward on the existing account details, instead of Web Saver variable. It's not much good them calling it one thing, yet showing the name on everything as something different. Also, if they're not going to permit it, their system shouldn't allow the opening process to take place.

I wish Halifax staff knew what they were talking about, after all that, I've just checked today, and find that the rate is now showing 5%, but this means that I have two Web Saver Rewards open (as I know many others have now as well), which we, apparently, shouldn't have.

10_66

cottager wrote: »

Luckily I opted for REWARD as my own name for the new account, and it can be picked out fairly easily in the list of accounts.

Snap! After now understanding that all Web Savers seem to be called the same name, I too have named mine Reward.

YorkshireBoy

YorkshireBoy wrote: »

However, if my account shows 5% tomorrow then as far as I'm concerned that's the rate at which my interest will accrue, regardless of the "can't have two Reward accounts" statement.

And indeed it does show this morning as...

"5.00% Gross p.a."

Looks like the BOE + 0.8% WebSaver is not really a true Reward account after all?