When Halifax Regular Savings matures, remove from web saver account ASAP

mr_fishbulb

The last payment into my Halifix regular savings account (the 10% one) goes in next month.

When it matures, it will dump all the money into the web saver account I opened at the same time as starting the regular saver (can't remember if this was manditory, but it was certantly an option).

The web saver account is only paying 0.10% gross so I will be taking the money out from there as soon as possible. Just a heads up for anyone in a similar situation.

opinions4u

mr_fishbulb wrote: »

The last payment into my Halifix regular savings account (the 10% one) goes in next month.

Time flies!

When it matures, it will dump all the money into the web saver account I opened at the same time as starting the regular saver (can't remember if this was manditory, but it was certantly an option).

Well, it has to go somewhere.

The web saver account is only paying 0.10% gross so I will be taking the money out from there as soon as possible.

Makes sense. Quite like their ISA Direct Reward at 3% as an option at the moment, and the 9 month Web Saver fixed at 3.35% for 9 months looks like a good home for the money at this point in time.

Doubtless they will offer some decent rates around the maturity period to ensure that they don't see all that money flow away.

pjala

Also keep paying into the 10% regular saver, cause if you don't you will lose the 10%. Opening up a new one is 4% for adults and 6% for kids.

Dopple

I maybe slightly different for people who decided to open a Guarenteed Saver account instead of the Websaver account to get the Regular Saver. My GS account was fixed at 6.25%, RS account was 12%.
Both mature in July. Not sure what happens then.

opinions4u

Dopple wrote: »

I maybe slightly different for people who decided to open a Guarenteed Saver account instead of the Websaver account to get the Regular Saver. My GS account was fixed at 6.25%, RS account was 12%.
Both mature in July. Not sure what happens then.

The Guaranteed Saver will revert to being a BofE tracker and start paying 0.5%.

The Regular Saver funds and interest will be transferred in to the Guaranteed Saver.

If you don't cancel the standing order, the Regular Saver will continue, but the rate (based on current rates) will be 4%.

Don't forget, you can still add to that Guaranteed Saver and earn 6.25% for the next few weeks.

rb10

mr_fishbulb wrote: »

The last payment into my Halifix regular savings account (the 10% one) goes in next month.

Oh no! That means my last one is soon too Will be a shame to lose the 10%!

pjala wrote: »

Also keep paying into the 10% regular saver, cause if you don't you will lose the 10%. Opening up a new one is 4% for adults and 6% for kids.

No, your 10% rate (and mine!) is only fixed for the year, at the end of the year you'll be given whatever rate the RS is at then - so if you carry it on, you'll get 4% for next year (assuming the rate doesn't change).

opinions4u wrote: »

Doubtless they will offer some decent rates around the maturity period to ensure that they don't see all that money flow away.

I expect so, as there's not only the Regular Saver money, but also all the money that's in the 6.25% Guaranteed Saver. I'm hoping they will, anyway!

apt

Mr Fishbulb unless you opened your 10% regular saver right at the start of June you could also squeeze out more interest by making a 13th payment on 1 June.

Mikeyorks

rb10 wrote: »

I expect so, as there's not only the Regular Saver money, but also all the money that's in the 6.25% Guaranteed Saver. I'm hoping they will, anyway!

Yes ... same position. But I thought all you sensible and Halifax orientated people opened the 'fixed' rate Web back in Nov that pays 5% for 12 months???
As that's where mine will be going. You just need to watch it's a maximum of 4 withdrawals .... to retain the 5%.

rb10

Mikeyorks wrote: »

Yes ... same position. But I thought all you sensible and Halifax orientated people opened the 'fixed' rate Web back in Nov that pays 5% for 12 months???

Oh I do!! I'm just well aware that I'll only be able to use that for just over 5 months ... hoping for something longer term, preferably with a small opening balance like the web saver

opinions4u

Mikeyorks wrote: »

Yes ... same position. But I thought all you sensible and Halifax orientated people opened the 'fixed' rate Web back in Nov that pays 5% for 12 months???
As that's where mine will be going. You just need to watch it's a maximum of 4 withdrawals .... to retain the 5%.

5%? Pah!

Got the 6.5% IASA Reward to get the 12% Regular Saver rate and that will be transferred in to the Guaranteed Saver Reward opened in November at 6%. Unless I bang it over to Egg for their 6.3% :T. Then in to ISA Direct Reward at a less spectacular 3% after that (unless rates are on the way back up).

hoping for something longer term, preferably with a small opening balance like the web saver

I would think the average Regular Saver balance would be around £3,000 on maturity. So I'd expect something to kick in at around £2,000 minimum balance.

rb10

opinions4u wrote: »

5%? Pah!

Got the 6.5% IASA Reward to get the 12% Regular Saver rate and that will be transferred in to the Guaranteed Saver Reward opened in November at 6%. Unless I bang it over to Egg for their 6.3% :T.

Oh dear, he's got it way too good!

opinions4u wrote: »

Then in to ISA Direct Reward at a less spectacular 3% after that (unless rates are on the way back up).

Good thinking, thanks. I will try to remember to open one of them at the end of May, to give myself the most time with it!