Halifax Fixed Rate Web Saver

SGE1

Has anyone got one of these?

I tried to open one this morning (3 months @ 6.25%) - but as I'm not a customer, I need to open a variable rate web saver first, which I've done.

However, though I now have account numbers and sort codes for the variable rate, I need to put money in that account, in order to then open a fixed web saver, into which I can transfer the money from the variable saver. My money will take at least 3 days to reach the variable account, and even then, I will need to wait for my online password to be sent to me in order to open the fixed rate saver online, and transfer the money through to that.

I can probably get this done by Friday of next week, if everything goes to plan, and the BACS transfer happens smoothly, and I receive my password in time, but does anyone know what is happening to Halifax fixed rates? When I rang up this afternoon, I was told that fixed rates probably wouldn't drop until the week after next, but that there's no guarantee of this.

Basically, I don't want to faff around and transfer loads of money into the variable saver, only for the fixed rate to drop before I have time to open a faxed rate web saver. Especially since, in the meantime, I need to go in branch with documents to prove my identity, only after which would I be able to withdraw my money from the variable saver (which has a rubbish interest rate) and put it back where it is at the moment.

Any advice?? Has anyone heard anything about Halifax's fixed rates? Is it worth all the effort?

I should have got round to this sooner, but my FSCS compensation has only just hit my account this morning...

xerox

I opened one yesterday by transferring money from Barclays on their fast track service. Money was transferred in approx 2 hours with no charge for the transfer.

SGE1

Is the fast track service something that Barclays offer, or Halifax?

masonic

Looks like the rates have dropped somewhat, although both the 3 and 9 month accounts are still looking quite tempting at 5.8% and 5.75% respectively.

beecher

I'm going through the same drama - it seems to be taking forever, and the rates have gone down a little as masonic says, while I've been waiting for the money to clear. Since you've gone this far you may as well continue I suppose. I'm going to go for the 9 month fix to save having to go through it all again in March.

Kavanne

Arg tried to withdraw from my guaranteed ssaver but says will take 48 hrs to action!! What if the 5.75% rate is gone by then!?

masonic

Kavanne wrote: »

Arg tried to withdraw from my guaranteed ssaver but says will take 48 hrs to action!! What if the 5.75% rate is gone by then!?

It's very unlikely to be changed twice in the same week.

beecher

Kavanne wrote: »

Arg tried to withdraw from my guaranteed ssaver but says will take 48 hrs to action!! What if the 5.75% rate is gone by then!?

Halifax only just changed the rate to 5.75% so hopefully it won't have. I'd have thought they'd wait to see where BoE rates go on Thursday before changing them again.

Kavanne

beecher wrote: »

Halifax only just changed the rate to 5.75% so hopefully it won't have. I'd have thought they'd wait to see where BoE rates go on Thursday before changing them again.

Phew... I won't be!!

Also had to transfer my savings out of RBS as they have slashed rates and no decent fixed rate products!!

beecher

Kavanne wrote: »

Phew... I won't be!!

Also had to transfer my savings out of RBS as they have slashed rates and no decent fixed rate products!!

Same with Lloyds TSB where my current account gives more interest than my savings account now!

cheekykid

beecher wrote: »

Same with Lloyds TSB where my current account gives more interest than my savings account now!

Tomorrow ill be removing 250k from Lloyds Tsb internet saver and stick it all with Halifax 9month deal. 5.75% is decent give the times we are in. Had they not wasted my time I would have got the 7% deal a while ago:mad: