Halifax Fixed Rate Web Saver - *now* I'm "ineligible"!?

yee_har

Am I cursed!? Is the following sharp practice ahead of the BoE rate announcement?

I got my Icesave cash late in the process
I've been forced to drip feed money from linked a/c to Halifax variable rate web saver.
On 02/12 I opened a 3-month fixed rate web saver - good.
Yesterday evening I showed Mrs. yee_har the process for opening a second fixed rate web saver but cancelled out as all necessary funds weren't across yet. The point is I was well into the process.
At 0010 today I transferred the final chunk of money from ex-Icesave linked a/c to Halifax and now I can't open a second fixed rate web saver...

"Fixed rate Web Saver application ineligible

Unfortunately you cannot continue with this fixed Web Saver application for one or more of the following reasons:

• You do not meet our age requirements
• You already hold the maximum number of variable or fixed rate Web Saver accounts we allow
• You do not currently hold a variable Web Saver account (This is a requirement, as on maturity one of the options is to roll over funds into your variable rate WebSaver)
• You have insufficient funds in your account to fund the new Fixed Web Saver (Min £500)

For more information about savings accounts we offer please visit our savings pages"

Interestingly I could open a(nother) variable rate web saver if I wanted to....

My recollection is that you should be able to open up to five web saver accounts and I know I could've opened a second fixed rate one yesterday.

Sorry - it's late and I'm feeling like every time I get close to re-sorting my savings another block gets put up.

Any constructive/supportive comments appreciated!

quietishone

Other people have had a similar problem. You have tried to use money paid into the account that day when the Halifax system uses the balance of the funding account at midnight, in other words, the money has to be in the funding account for over 24 hours before you can use it to open the new account despite their terms and conditions saying that it should be available for withdrawal on the day of receipt.

evergreen

I had similar problems with Halifax on line, but when I rang Halifax they did it over the phone, no problems.

Helvetica

quietishone wrote: »

Other people have had a similar problem. You have tried to use money paid into the account that day when the Halifax system uses the balance of the funding account at midnight, in other words, the money has to be in the funding account for over 24 hours before you can use it to open the new account despite their terms and conditions saying that it should be available for withdrawal on the day of receipt.

Not true, just opened a fixed rate web saver, funded from an already existing variable rate saver into which I'd made a deposit a few minutes previously by fast payment.

If you have to open a variable rate saver in order to fund a fixed saver you then have to wait a day.

beecher

Helvetica wrote: »

Not true, just opened a fixed rate web saver, funded from an already existing variable rate saver into which I'd made a deposit a few minutes previously by fast payment.

If you have to open a variable rate saver in order to fund a fixed saver you then have to wait a day.

I had to wait a day even though I already had the variable rate saver open. The error message I got when I tried to move my money across early was 'we are having problems, try again later' so I did. Next day I had two empty fixed rate accounts which I've had to phone to have closed, and was advised that it was because I had to wait 24 hours. Did so and opened it no problem.

yee_har

Update
PHEW! Just managed to get a 9-month at 0715 this morning.

To clarify, I:

• already had a variable rate web saver; and
• was getting that error message before Halifax's system even knew what amount I wanted to save.

so I guess the problem earlier this morning must've been "just one of those things".....and trust me - I tried the correct process many times.

Now for an ISA!

johnmoney05

yee_har wrote: »

Update
PHEW! Just managed to get a 9-month at 0715 this morning.

To clarify, I:

• already had a variable rate web saver; and
• was getting that error message before Halifax's system even knew what amount I wanted to save.

so I guess the problem earlier this morning must've been "just one of those things".....and trust me - I tried the correct process many times.

Now for an ISA!

You didn't get much sleep?! Great you sorted that out at the end.

yee_har

Cheers!

Managed to bag an ISA at 5% as well - transfer cash only; 60 days to fund and produce FSCS cert..

Interestingly the nice Halifax lady advised against moving my repaid Icesave ISA cash from the linked a/c (Barclays....not had a cheque book for ages) to another a/c (A&L with cheque book) as she thought the money might lose it's ISA status in the process. I'm not sure that's right - I assume the cert. is enough "proof" - but appreciated the thought anyway.

Time for a long weekend in Dublin I think!

Baldur

yee_har wrote: »

Interestingly the nice Halifax lady advised against moving my repaid Icesave ISA cash from the linked a/c (Barclays....not had a cheque book for ages) to another a/c (A&L with cheque book) as she thought the money might lose it's ISA status in the process. I'm not sure that's right - I assume the cert. is enough "proof"

The nice Halifax lady was wrong - see http://www.fscs.org.uk/files/documents/pdfs/hwcpsfdyckkfdzm.pdf

36. I have now received my ISA payout from the FSCS, but am unsure as to whether or not I can move it from my linked account it was transferred to, to an interest paying savings account for a short period until I receive the certificate confirming the ISA status. I do not want to lose the ISA status by moving it twice.

If you wish, you can transfer your ISA payout to an alternative account whilst you wait to receive your ISA certificate. This will not affect the tax free status of your ISA.

cottager

yee_har wrote: »

so I guess the problem earlier this morning must've been "just one of those things".....

Not sure. I had that earlier in the year with opening variable web savers, and once more recently, then I realised it had always been if I'd tried in the wee small hours after midnight. In the day it's been fine, even relatively early in the morning too (like you this morning), and also through the evening.

I came to the conclusion it could be when they're updating the system with the previous day's transactions, but could be wrong about that... though why they throw up that nonsensical message instead of just saying so is beyond me. :rolleyes:

soulsaver

I have to say I found the set up of the guaranteed saver reward and a relevant current ac ...simple.
Other than the usual tatties re proof of identity, which I didn't begrudge as I don't bank with them:
Good job I had brought current Council Tax bill with me... and a Scottish Power bill.... and my passport... and some cash for the current ac opening....

I found it strange that they wouldn't accept my recent
Halifax credit card statement as proof of address- I kid you not...