Halifax ISA interest

auntyi

Hi

My Halifax ISA is paying 3.85% (according to my account details) yet on this site it says it is paying 5%.

Do the rates change after a number of years?

Does anyone know if halifax charge a transfer fee?

Thanks,
Aunty I

SCREAMIN_BABIES

it depends where you opened your account the 3.85%is if you opened it in store . you only got 5%if you opened the account and only use and contact them via phone or internet .
me and my partner went in to open one yesterday but alliance and leister were giving a 5.20% rate so went there .
hope this helps

alared

auntyi

Go into your local Halifax branch with proof of current ISA and ask them to transfer it to their Direct Saver Cash ISA, paying 5%

grumbler

... or just make a phone call: Using a current ISA to fund another ISA

Milarky

Is it just me, or is it not balmy when the same banks start offering strikingly different ISA rates to their customers based on the notion that: 'Branch-costs-more.. internet-is-cheaper'?

And the latest twist is that they start offering 'better deals' to new customers and just push the old (loyal) customers to the bottom of the heap?

In my opinion [cash] ISAs should be

- safe

- portable

- carry reasonable terms

- pay a rate to match (so that's higher rates for notice etc)

Yet the market in ISAs seems disorderly - just the opposite of how it should look for what are for most people their long-term savings

And it it not helped by the rules relating to transfers (a cheque clearing cycle seems to be prescribed) in a era of push button money movement.

At this rate the sooner GB becomes the PM the better - we'll get a normal guy in there as our finance minister rather than a robot!

regularsaver1

No the Halifax do two types of mini cash isa's

One called Isa Saver Direct (online and telephone, but can be opened in branch) paying 5% for £1 plus

and the other mini cash isa is the book version - this is the older version

you can redesignate the book mini to the direct one in branch

regularsaver1

oops the book one pays different interest depending on the balance

baldbloke_2

Two years ago I was so unhappy at the Halifax for setting up both ISA & Regular Savers accounts that were much better returns than the ones I was already paying into with them that in a fit of pique I closed both and marched off to invest elsewhere. Needless to say that was the most stupid financial decision I have made in recent years. Nowadays I would transfer the ISA but then it seemed more difficult and I didn't wait around to think properly.
Banks are their own worst enemies sometimes with the crass way they go about attracting new customers and ignoring those who already invest with them.

auntyi

Thanks all. I will go into Halifax and demand that they see sense!

Strikes me as silly I have to change an account like this, and no doubt I cannot transfer without a lot of needless form filling, even though it's the same bank. Maybe I'll transfer to A&L too.

Auntyi

Paul_Varjak

auntyi wrote:

Thanks all. I will go into Halifax and demand that they see sense!

Strikes me as silly I have to change an account like this, and no doubt I cannot transfer without a lot of needless form filling, even though it's the same bank. Maybe I'll transfer to A&L too.

Auntyi

You can transfer easily from a passbook-based ISA to the Halifax Direct ISA. You can do this at your local branch, or even at a local agency. I did this as soon as the Halifax Direct ISA became available.

I think the Halifax Direct ISA is still the highest interest rate cash ISA available that has no-strings attached.

kenshaz

Just telephoned Halifax after reading this thread and wow ,yes I would have been on 3.85%,they are going to move me onto a telephone based ISA at 5.1%,THey are so cunning just think of all the little old ladies like my mum,not aware and they do not bother to help unless you ask,once again this site has saved me money,power to the people