Fixed Rate Halifax Web Saver (3 month term)

Gemmzie

5.8% AER for deposits of £500+

Is this a good deal? Seems fairly high for such a short tie in.

matthew74

3 month deals no longer exist - I tried yesterday, all I could get was 5% over 6 months or longer.

Good Luck

Lokolo

I got halifax 3 months websaver..... 7%

opinions4u

matthew74 wrote: »

3 month deals no longer exist - I tried yesterday, all I could get was 5% over 6 months or longer.

Good Luck

Still existis.

6.05% for £120k!!

That 5.75% for 9 months might be worth a dabble.

http://www.halifax.co.uk/savings/fixedwebsaver.asp

cottager

The 3-month deal for £500+ at 5.80% still exists... or at least, that's what the webpage shows right now:
http://www.halifax.co.uk/savings/fixedwebsaver.asp
But unlike matthew74 yesterday, I haven't tried opening one.

Lokolo

trenchwars wrote: »

Personally I think the 1 year at 5% is a better deal, unless you can open more than one.

Depends if you need the money in 3 months or not surely?

Fs you gay you deleted the post :P

beecher

cottager wrote: »

The 3-month deal for £500+ at 5.80% still exists... or at least, that's what the webpage shows right now:
http://www.halifax.co.uk/savings/fixedwebsaver.asp
But unlike matthew74 yesterday, I haven't tried opening one.

I opened a 9 month one at 5.75% today, and the 3 month option was there.

Be aware that you have to open a WebSaver first of all, and leave the money in there for 24 hours before transferring it to a fixed web saver. And remember to transfer an extra £1 into your websaver in order to keep it open.

cottager

beecher wrote: »

Be aware that you have to open a WebSaver first of all, and leave the money in there for 24 hours before transferring it to a fixed web saver. And remember to transfer an extra £1 into your websaver in order to keep it open.

You're right, I should have added that.
I was lucky to get a 6-month at 6.88% hours before it came down in October. I've been putting as much as possible into fixed rates to try and soften the effect of lower rates for a while, but you have to keep some liquidity! -- not sure if I should really tie up any more, or how much.

It also means moving money in from an external source (my variable Web Saver's all but cleaned out), so that's a bind as you never know if the rate will be gone by the time it gets there. Faster Payments between every bank, building society and type of account really can not come quick enough
Factoring in the delay was just a fact of life we accepted previously, but for those of us who enjoy FP with certain accounts since it began in May, it's frustrating it's still so patchy and taking so long to be phased in/adopted everywhere.

If I opened a 9-month fixed now and chose to fund it from an external source (instead of a transfer from the base variable), would Halifax hold the rate? Have never done it this way, but wondering if it would be better rather than waiting to open it till a BACS payment arrives in the variable?

What actually happens next if you choose to fund from an external source? Does it open with a zero balance, then I can take a cheque into the local branch next day and pay it in with the Fixed Rate account details without any other paperwork?

Mikeyorks

cottager wrote: »

What actually happens next if you choose to fund from an external source? Does it open with a zero balance, then I can take a cheque into the local branch next day and pay it in with the Fixed Rate account details without any other paperwork?

Never tried it as I usually have enough liquidity within Halifax. But your proposal seems sound ... as they give you the option to open unfunded. Therefore funding it later (but quickly ... with BofE around saver's necks again tomorrow!) must be acceptable .... but can't say I've ever seen a 'window of opportunity' stated. But your one day doesn't sound excessive!

I've also successfully tied up most savings at around 7% .... but putting the 'easy access' in a place both 'interest'ingly meaningful and within striking distance of my Halifax current account .... is a bit of a chore. As you say ... a fully working FP would at least resolve some of the problem.

cottager

Mikeyorks wrote: »

but can't say I've ever seen a 'window of opportunity' stated. But your one day doesn't sound excessive!

It would be possible to walk into a Halifax branch tomorrow with a chq if I decided to go for the 9-month fixed, as funds would come from a Nationwide eSavings -- just have to TF the amount into the linked FlexAccount and write the cheque.

But what I didn't know is if I could, armed only with the new Halifax account number, as I've never done it that way.

It turns out I can't! You were right, there's no 'window of opportunity'.

Just phoned them, and apparently you cannot open a Fixed Rate unfunded. The reason for me thinking I could was because I'd just done it with a new ISA, didn't have enough in my variable, so chose to fund from an external source. I was told just now yes, that option is available with an ISA application, but not with the fixed rate accounts -- they must be funded at the time of the application, and thus by implication from the variable.

So the only choice is the 'long way round' -- arrange a BACS into the variable, leave it in the account for 24 hrs, then open the fixed rate.

Since in banking terms this is now Thursday, it means the earliest the variable could be funded is Monday from Nationwide...
And Tuesday before I could open the fixed rate...
By which time the rate's probably dropped and it will all have been a wasted exercise!
And I'm stuck with the amount sitting in the variable earning less interest than it would in Nationwide, and it would take another 3 days to get it back again. About a week 'travelling' in limbo with no interest... great. Unless I accepted whatever fixed rates Halifax had available by then instead.

Mikeyorks wrote: »

'interest'ingly meaningful

:rotfl: :rotfl:

beecher

I transferred my money over on Thursday night and it was in my account my Tuesday morning. Opened the fixed rate on Wednesday. So your calculations about how long it'll take are probably correct.

Could you open a new variable web saver and put cash in at a branch? You can do your first transaction via the branch. Then at least you'd be able to transfer to a fixed rate on Friday.

I don't think the rates will go down that quickly - they only came down last week. Good luck. Halifax certainly don't make it easy