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Halifax Regular Saver

Hi,

I have a Halifax Regular Saver account which I opened in July 08. I can deposit a maximum of £500 a month into it for a year and the rate is 12%.
I've now seen something called the Halifax International Regular Saver where a maximum of £2k is allowed per month for a rate of 5%.

My question is: Can I open one of these accounts even though it states that only one Regular Saver account is allowed per customer?
Does it make any difference that it has International in the title or is it the same as I already have but at a lower rate but more per month?

Thanks.

Comments

  • Milarky
    Milarky Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    Yes, Halifax International is a subsiduary of HBOS (now part of Lloyds Banking Group) - effectively it is a different 'brand' so you can have one of their regular savers running alongside the 'Halifax' one.
    .....under construction.... COVID is a [discontinued] scam
  • cocktail
    cocktail Posts: 377 Forumite
    spikeboy wrote: »
    Hi,

    I have a Halifax Regular Saver account which I opened in July 08. I can deposit a maximum of £500 a month into it for a year and the rate is 12%.
    I've now seen something called the Halifax International Regular Saver where a maximum of £2k is allowed per month for a rate of 5%.

    My question is: Can I open one of these accounts even though it states that only one Regular Saver account is allowed per customer?
    Does it make any difference that it has International in the title or is it the same as I already have but at a lower rate but more per month?

    Thanks.
    i do not think this is covered by the £50,000 FSA guarantee though! Anyone in the know?
  • nrsql
    nrsql Posts: 1,919 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Nope. IOM so IOM depositors compensation scheme
    All accounts are held at the Isle of Man Branch of Bank of Scotland International Limited and deposits are covered by the Depositors' Compensation Scheme contained with the Compensation of Depositors Regulations 2008 (as amended).
    The scheme compensates people who have money in bank accounts in the Isle of Man with up to a maximum of £50,000 of deposits per individual depositor per deposit taker. This means that a maximum of £50,000 compensation is payable per individual. Further information in relation to the compensation scheme can be found at http://www.gov.im/fsc/investor/dep_comp.xml
    Under the current scheme, maximum level of compensation per individual depositor will reduce from £50,000 to £20,000 with effect from 23 October 2009 for ALL depositors.

    You can also get a 2% euro account with min 1000 euros.
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