Halifax Cutting Rates from 1/12/08

rb10

According to the T&Cs,

the rate which applies to your fixed rate account will be fixed on the
day we receive your investment.

(http://www.halifax.co.uk/HelpCentre/pdf/1_336202-9.pdf page 14)

So as they receive your investment on the day you hand over the cheque, the rate on that date would be the rate you receive.

masonic

caveman38 wrote: »

Does anyone know if the halifax only accept cleared funds. I now find that I have not enough money to transfer internally for an ISA before Monday. My only way is togo to the branch on 1st. (monday) and open account with HSBC cheque. But if their like my bank (HSBC) the account and rate will not become active till the cheque clears unlike Barclays who guarantee rate when you hand over cheque.
Anyone know, please?

I don't know how cheques are treated, but if you're opening the Websaver Reward, could you not withdraw £50 in cash and use that as your opening deposit, sending the rest of the money later?

amcluesent

How the **** do you open a Web Saver Reward? I started off the process which says "You can apply for a guaranteed rate Halifax Web Saver Reward between 5 November and 1 December" and all I ended up with was another Web Saver Variable account. !!!!!!, where is the option to specify it's the Reward account.

caveman38

the rate which applies to your fixed rate account will be fixed on the
day we receive your investment.

That may mean cleared funds I'm afraid.

rb10

amcluesent wrote: »

How the **** do you open a Web Saver Reward? I started off the process which says "You can apply for a guaranteed rate Halifax Web Saver Reward between 5 November and 1 December" and all I ended up with was another Web Saver Variable account. !!!!!!, where is the option to specify it's the Reward account.

All websaver variables are automatically opened as websaver rewards at the moment - it will lose it's reward status once the first of these occurs:
(i) the 5th withdrawal takes place; or
(ii) once the balance falls below £50 or
(iii) one year after opening the account.

If you look on the interest rate bit of your account from the day after you credit it, you'll see it says 5%, the reward rate.

Mikeyorks

caveman38 wrote: »

That may mean cleared funds I'm afraid.

No - you will be OK with a cheque in Branch before the deadline. It doesn't have to clear before the deadline.

cottager

Like opinions4u and others, I've just opened a Reward account to have another possible option when a fixed rate matures in April (luckily still just about had £50 in the base Websaver to fund it!). But although it showed up in my list of accounts immediately and no problem there, the interest basis is showing up as 'Variable' in brackets after the name, not 'Fixed'.
?????

rb10

cottager wrote: »

Like opinions4u and others, I've just opened a Reward account to have another possible option when a fixed rate matures in April (luckily still just about had £50 in the base Websaver to fund it!). But although it showed up in my list of accounts immediately and no problem there, the interest basis is showing up as 'Variable' in brackets after the name, not 'Fixed'.
?????

Yes, that's just how it shows. Bit odd, I know, but that is correct. Whilst you meet parts (i), (ii), and (iii) in my post (#26), you'll get the fixed rate of 5% even though it does say variable!

cottager

rb10 wrote: »

Yes, that's just how it shows. Bit odd, I know, but that is correct. Whilst you meet parts (i), (ii), and (iii) in my post (#26), you'll get the fixed rate of 5% even though it does say variable!

Thanks rb10. Wish they'd say what they meant :rolleyes:
Oh, sorry, that would be too simple...

SGE1

rb10 wrote: »

Yes, that's just how it shows. Bit odd, I know, but that is correct. Whilst you meet parts (i), (ii), and (iii) in my post (#26), you'll get the fixed rate of 5% even though it does say variable!

Pfff... As a new customer, today I tried to open a fixed saver and a reward saver, and I'll end up with two variable savers... why so complicated??