Halifax Cutting Rates from 1/12/08

alared

Earlier today mine was showing the £100 deposit but "awaiting authorisation"

After a phone to CS,it`s now showing as opened but for the current rate NA.
It was explained to me that the account would show as "variable" until the year was up and if the conditions are met then the rate would be 5%.
I have the July reward account but it doesn`t invalidate this 5% one.

Total confusion or what:mad:

Trollop

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.

beecher

Trollop, I don't think you'll get it - they don't make it easy do they?

I have £1000 in the process of being sent to my newly opened account, but as it hasn't arrived yet my account wasn't funded today so I don't get the Reward bonus either. Tried to put £50 cash in today but the branch wouldn't let me, as they only allow your first deposit to be added in branch, and the £1000 counted for this

SGE1

Trollop wrote: »

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.

I'm afraid it looks like it. Their system is a bit of a faff. I went on their website yesterday with the intent of opening one fixed rate saver and one reward saver, and ended up with two variable savers, which are actually the same as reward savers if you don't pick the cashcard option, and fulfill the other 'reward' obligations.

Not exactly straightforward.

[Deleted User]

beecher wrote: »

Trollop, I don't think you'll get it - they don't make it easy do they?

I have £1000 in the process of being sent to my newly opened account, but as it hasn't arrived yet my account wasn't funded today so I don't get the Reward bonus either. Tried to put £50 cash in today but the branch wouldn't let me, as they only allow your first deposit to be added in branch, and the £1000 counted for this

If it hasn't arrived yet how is it the first deposit? Sounds like the Branch staff fobbed you off.

cottager

Trollop, this is (I think, from my recollection of the application process) different from my experience. I was lulled into the same trap for a moment, thinking if the option was there I may as well take advantage of it, but it wasn't allowed -- the next screen registered an error, so I had to go back, refuse it, and then all was well.

Again, unnecessarily confusing! -- if a condition of the higher rate is no cash card, the option shouldn't be there.

beecher

Deleted_User wrote: »

If it hasn't arrived yet how is it the first deposit? Sounds like the Branch staff fobbed you off.

I'm sure they did Phoned the online help desk and they said I should've been able to do it, but I wasn't, so am just going to give up with the whole thing and transfer the money elsewhere I think. Halifax must lose a lot of customers by making things so complicated.

wilksy007

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?

alared

If some people`s rate is showing as 5% and others N/A,then something is clearly wrong.
The trouble with calling CS and asking for an explaination is that you`re likely to get different stories depending who you speak to.
I like to see the rate or at least get a letter confirming it.
I would hate to have money tied up there for a year,only to find I wasn`t getting the 5%.

Mikeyorks

wilksy007 wrote: »

would i get penalised if i withdrew a large ammount?

No .... your evaluation is correct. As long as you leave the minimum sum in and don't exceed 4 withdrawals in the year to anniversary of the account.