Fixed Rate Halifax Web Saver (3 month term)

tightarsey

Thanks YorkshireBoy for the reply - yes regarding the website for checking APACS faster payments thats what I used. And both 11-18-11 (Halifax) and Alliance and Leceister current account - initial payment of £1 transferred instantly, subsequent payments didn't transfer instantly but were 'stalled' - probably will be classed as for 'security' reasons. Halifax seems to be exploiting all the 'grey areas' they can! (Though in fairness it could be stalled by A&L)

YorkshireBoy

tightarsey wrote: »

Thanks YorkshireBoy for the reply - yes regarding the website for checking APACS faster payments thats what I used. And both 11-18-11 (Halifax) and Alliance and Leceister current account - initial payment of £1 transferred instantly, subsequent payments didn't transfer instantly but were 'stalled' - probably will be classed as for 'security' reasons. Halifax seems to be exploiting all the 'grey areas' they can! (Though in fairness it could be stalled by A&L)

I don't think you've a hope of getting anywhere with your complaint to be honest with you, but good luck all the same.

Indeed, your Friday payment, if the request was made 'on the spot', might not even arrive until this coming Wednesday, and that's a long time after the rates were dropped. You can't expect them to backdate a deposit for over a week surely?

tightarsey

Halifax advertising headline rates that in no way were acheivable last Sunday 30/11/08 is a con. Its deceiving and dishonest and needs to be stopped by the FSA. The fact that the headline rate of 6.25% is now 3.75% says it all (as though they didn't know what they are doing!) As most Icesave customers were paid out last weekend - if you in the same position, don't fall for there scam - take it back out and put it elsewhere! There are better rates elsewhere - look for 'Rate on application', rather than headline rates that can drop tomorrow. The fact that the hbos shareholders vote for the merger hasn't yet taken place means its probably better off moving it out anyway. Regarding faster payments, A&L is one of the founding members (girobank originally) and has faster payments for both send and receive.

theAA Fixed Saver accounts (no longer available but which are run by HBOS), rates are valid for 4 months from application according to their emails they send out, as it can take several weeks to validate account holders ie. sending documentation to prove identity etc.

opinions4u

tightarsey wrote: »

Halifax advertising headline rates that in no way were acheivable last Sunday 30/11/08 is a con.
They were achievable to existing Halifax online customers. Should they have refused to offer those rates to their existing customers? Seem to think a 'new customers only' mentality frustrates people more.

Its deceiving and dishonest and needs to be stopped by the FSA. The fact that the headline rate of 6.3% is now 3.75% says it all (as though they didn't know what they are doing!)
It says that their existing tranche of fixed rate money ran out in a rapidly falling interest rate environment. Hardly surprising in a base rate change week. Their rates over the past month or so have been refreshing compared to the rest of the market.

As most Icesave customers were paid out last weekend - if you in the same position, don't fall for there scam - take it back out and put it elsewhere! There are better rates elsewhere - look for 'Rate on application', rather than headline rates that can drop tomorrow.
I think Halifax will be fully aware of the competitive position in the market. They've led it for the last month or so.

The fact that the hbos shareholders vote for the merger hasn't yet taken place means its probably better off moving it out anyway.
Are you trying to scare people unnecessarily?

Sometimes banks can't do right for doing wrong.

tightarsey

Halifax Web Saver / Fixed Rate Saver Con!
On Sat 29/11/08/Sun 30/11/08 I doubt in practical terms it was even acheivable for existing savers as the rate dropped first thing 01/12/08.

Headline Rate Grabbing 'False' Advertising at its worse.
and pretty sure Halifax knew what they were doing....

They could have quite easily worded the offer to existing customers but they didn't or indicated that a rate drop was due Monday 01/12/08 but they choose not to.

It was widely reported in the press that a 1% rate cut was likely, so to then drop the rate again by 2%-2.5% on Friday 05/12/08 (once most of the cash would be in web saver accounts ready to open Fixed rate savers) shows exactly the plan. Bet the gimmick/'con' has made Halifax a fair amount of cash.

If your a Saver in this position don't fall for it- Move your cash back out and close your web saver account in protest!

I've every right to comment on the financial position of Halifax regarding the shareholders vote next week. It a vote, its not a forgone conclusion!

Lokolo

Yes it was possible. Have you not heard of FPS?

and omg shut up!

noh

tightarsey wrote: »

.........Regarding faster payments, A&L is one of the founding members (girobank originally) and has faster payments for both send and receive.

A&L being one of the founding members is irrelevant. I think you will find that their current FP outgoing transaction limit is much less than the £10k you tried to transfer hence the transfer was made by BACS.
Your £1 test payment of course went by FP because it was below that limit.

You have no hope of a complaint getting anywhere. You simply left it too late to open the accounts

Nigel

Lokolo

Yeh I got my 3 months 7% fixed so woop for me! :T

jem16

tightarsey wrote: »

Halifax Web Saver / Fixed Rate Saver Con!
On Sat 29/11/08/Sun 30/11/08 I doubt in practical terms it was even acheivable for existing savers as the rate dropped first thing 01/12/08.

As an existing HBOS saver I had no problem in opening one - took less than 5 minutes.

YorkshireBoy

jem16 wrote: »

As an existing HBOS saver I had no problem in opening one - took less than 5 minutes.

Likewise with my 5%, max 4 withdrawal, WebSaver Reward...opened and funded by internal transfer at the very last minute on Sunday.

tightarsey, it's obvious you're smarting a [STRIKE]bit[/STRIKE] lot, but seriously, put it behind you and move on...you'll feel much better much sooner. If you don't want to save with Halifax in future then great for you.

Move your cash back out and close your web saver account in protest!

...but if you do, and they bring out a decent account in future, be aware that ID verification delays could mean you miss out!