Halifax variable web saver: the mysterious 'reward' version

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That was another thing... for one of the security questions, they asked me what I had 'named' my account??? Of course I had totally forgotten even doing that. You have to be Einstein to do this 'managing your money' thing. It's all new to me.

Thanks for the comment RB10, hopefully I won't get penalised for one withdrawal.

I set the account up for internet banking so the rate I've mentioned is the internet banking rate.

Mikeyorks

diagonal_lines wrote: »

hopefully I won't get penalised for one withdrawal.

You won't ..... on this account. And that's confirmed absolutely ... as it's still showing 5%.

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Thanks Mike

callow

I have one of these "special" Web Saver accounts, although mine is currently at 2.3%. I can withdraw as much as I like. When I was changing over my current account, I got the staff member to check and she said it was right. The rate has been going down but not as much as the normal Web Saver.

I saw this account on MSE so I am thankful for those who pointed it out.

YorkshireBoy

callow wrote: »

I have one of these "special" Web Saver accounts, although mine is currently at 2.3%. I can withdraw as much as I like.

That sounds like the BOE + 0.8% offering, so will very quickly become 1.8%...I would think?

opinions4u

YorkshireBoy wrote: »

That sounds like the BOE + 0.8% offering, so will very quickly become 1.8%...I would think?

Makes sense from 1st March.

Also, from memory, let you balance go below £1 and you lose 'reward' status.

carpy

opinions4u wrote: »

Also, from memory, let you balance go below £1 and you lose 'reward' status.

what does that mean exactly....lose it for good or just while the balance is below £1? if you lose the 'reward' status what does it revert to?

can anyone find anything online or halifax website (such as T&C's or interest rates etc.) because i've looked but can't....

rb10

carpy wrote: »

what does that mean exactly....lose it for good or just while the balance is below £1? if you lose the 'reward' status what does it revert to?

can anyone find anything online or halifax website (such as T&C's or interest rates etc.) because i've looked but can't....

T&Cs are here, page 17 is the relevant bit for the Rewards.

For the Reward account that Opinions4U was referring to (the one opened in Summer 2008), if the balance drops below £1, then the account will revert to a standard variable rate web saver.

Reward accounts opened at different times have different minimum balances - see the T&Cs.

You can see the rate your account is currently getting by logging into internet banking.