Halifax Cutting Rates from 1/12/08

jem16

YorkshireBoy wrote: »

Hopefully your rate is showing as 5% in your online area? Mine's showing as N/A, but hopefully this will update overnight tonight?

Yes it updated overnight last night and is showing 5%.

Halifax do make things difficult at times.

YorkshireBoy

jem16 wrote: »

My excuse is that I didn't know the other two I have were supposed to be Web Saver Rewards.

A very good excuse (and one which I'll use myself) because, in all the info I have from July, nowhere does it mention being a "Reward" account.

jem16

YorkshireBoy wrote: »

A very good excuse (and one which I'll use myself) because, in all the info I have from July, nowhere does it mention being a "Reward" account.

Nor do I have any info about being Reward. As far as I knew it was simply a websaver I opened up.

alared

Halifax Web Saver Reward

For a limited time only we're offering Halifax Web Saver Reward (without cashcard). Earn a great rate of 5.80% AER if you open and fund an account before 5 August 2008.
Halifax Web Saver Reward (without cashcard)

• Minimum opening balance - £1
• No maximum balance
• Unlimited withdrawals and deposits
• Manage your savings - online only. Transfer money, view recent transactions and check your balance online 24/7
• Variable interest - paid annually on anniversary of account opening. The Halifax Web Saver Reward interest rate will be at least 0.80% above the Bank of England base rate for the 12 month reward period
• Apply online now - limited offer until 5 August 2008

Variable Interest Rate (AER)
(without cashcard)
5.80%
Term12 monthsIf you would like additional access to your savings, then Halifax Web Saver is also available with a cashcard - currently offering 5.35% gross/4.16% AER, including a gross bonus until 18 July 2008.

derrick

I have just opened this account, but when it got to the last processing it just hung, so I called Halifax, (using the call back system), and it turns out that the system is busy! So the lady confirmed that the account had been opened and transferred £50 from my Halifax high interest current account and told me to check within 2 hours and that it should be showing as opened and credited.

Well 20 minutes later the account is showing, but without credit and the following details; -

Halifax Web Saver - (variable)

Available balance £0.00

Balance £0.00

Current rate N/A


So will check again after 2 hours to see what change there is.

However I was told after I mentioned the reward/variable rate account, that it will show as variable until the T&Cs have been adhered to for 12 months, then at that time the 5% interest rate will be applied, she also said that there would be paperwork confirming the 5% rate

derrick

Have just checked my account, the £50. opening deposit is now showing, and is still showing Current rate as N/A.

Have also found this in Account conditions; -

Account conditions (opens as PDF) Pages 14/15

HalifaxWebSaverReward

For Halifax Web Saver Rewards opened during the limited period from 9 July 2008 to 12 August 2008, the variable reward interest rate applies for a year following receipt of the opening deposit into your variable rate without card option, provided you keep between £1 and £9 million in your option, otherwise the relevant standard Web Saver interest rates will apply. The reward interest rate will be at least 0.80%
above the Bank of England base rate.

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; provided you keep between £50 and £500,000 in your option and make no more than 4 withdrawals during the 12 month reward period. If more than four withdrawals are made during the 12 month reward period, the variable rate Halifax Web Saver (without card) interest rate and account conditions apply to your account from the date of the fifth withdrawal.


Not sure if the £9 million mentioned in the first paragraph is a mistake!



.

udydudy

A bit confused here. Just opened an account using halifax online banking, firstly the link to open the "Halifax Web Saver Reward" seems to be same as the "Halifax Web Saver (Variable)". Though in the print it says the form is the same for both.

Both the account(mine and OH) have got set up as "Halifax Web Saver (Variable)" at no point did it give an option to choose the "Halifax Web Saver Reward" Though i transferred £50 to each from our joint current account.

I wonder what happens now. Did i open the Reward one paying 5% or is this just plain variable account.

Anybody any idea?

jem16

udydudy wrote: »

I wonder what happens now. Did i open the Reward one paying 5% or is this just plain variable account.

Anybody any idea?

It's the same process. You will get the Reward rate until you break the conditions by withdrawing more than 4 times or having a balance less than £50.

derrick

udydudy wrote: »

A bit confused here. Just opened an account using halifax online banking, firstly the link to open the "Halifax Web Saver Reward" seems to be same as the "Halifax Web Saver (Variable)". Though in the print it says the form is the same for both.

Both the account(mine and OH) have got set up as "Halifax Web Saver (Variable)" at no point did it give an option to choose the "Halifax Web Saver Reward" Though i transferred £50 to each from our joint current account.

I wonder what happens now. Did i open the Reward one paying 5% or is this just plain variable account.

Anybody any idea?

From my post above; -

"the fixed reward interest rate applies for a year following receipt of the opening deposit into your variable rate without card option"

There is also a link to the account T&Cs in same post.

suki43

Hello

We've just opened a joint Halifax Web Saver Reward at the 5% and my OH has registered for online banking and we've to now wait for a temp. password etc. I am already registered for online banking and under My Accounts, this new saver account has a link by it saying "awaiting authorisation". Will this disappear once my OH has completed his online registration?

Also, I have about £650 in a Halifax ISA at 2.52% interest rate. Would it be best for me to transfer this into the new 5% account ie even with tax deducted will it still earn more interest for me than my ISA?

Many thanks

Suki