Monthly savers

Castleman

Hi all,

I have a couple of monthly savers about to mature after the 1 year they were opened for. The question is this...which date can I expect the monies to be paid into my designated account? the end of the month, the anniversary of the first payment?

On one account the first payment was made around the 20th, on the other it was around the 5th - will this have an impact on the maturity date?

Halifax international is the bank.

Do the bank automatically cancel my direct debit, or does it keep going into the same account but at a different interest rate?

thanks!

Trying_to_be_good

I only know about 'high street' Halifax, who can keep the standing order (they don't collect to regular savers through direct debits) going and start a new one-year term at the new (prevailing) rates.

I think Halifax is one you can get 13 payments into (i.e. first payment in 20 March, final and 13th payment on 1 March). From memory it's paid to the 'connected' web saver account on the anniversary.

YorkshireBoy

You'll find the answers to all your questions on the Halifax International website:

http://www.halifax-international.com/download/terms-and-conditions.pdf

http://www.halifax-international.com/Savings/regular-saver-faqs.asp

But in short, and in order:

1. The anniversary of the first payment being received.
2. Yes.
3. You don't have a DD; you have a SO. Because the RS will be closed, you should cancel it.