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

oldfella

there have also been earlier discussions on the benefit or not of making the 13th payment. The 13th payment will get swept up at the end of the year so 10% is only worth around £2 for the extra 20 days.

I wont be renewing at 4%. Interest rates are hardly going to reduce over the year, and you cant withdraw money in a Halifax RS untl year-end. I can get over 3% and instant access with other accounts.

fusela

My Regular saver is also due to mature next month after paying in £500 a month. I understand that this will be moved over to another halifax account and the Regular Saver starts again. What is the interest rate on the new regular saver account?

Cheers.

10_66

According to Halifax's website, it's 4% at present.

rb10

10_66 wrote: »

According to Halifax's website, it's 4% at present.

But check on the anniversary of opening your account ... it wouldn't surprise me if they raised the rate, to try to keep some of the many Regular Savers opened last summer open.

opinions4u

10_66 wrote: »

"Set up a monthly standing order from your bank account - you can make additional deposits by standing order too, as long as the total each month doesn't exceed £500."

This does work!

Additionally, if you fund within the calendar month, but after the 28th they will pay the full rate too. Don't try it in February though!

MissScarlett_3

When it is transferred to the web saver account on the anniversary date, how do I access the money? I would want to withdraw it and place it elsewhere. I've not had a web account before.

rb10

MissScarlett wrote: »

When it is transferred to the web saver account on the anniversary date, how do I access the money? I would want to withdraw it and place it elsewhere. I've not had a web account before.

By electronic transfer ... log into Halifax, select the account and choose Transfers ... from the left hand menu. Then create a new payment, put in either the roll number, or the sort code and account number of where you want to transfer the money to.

10_66

You would normally transfer the money to your other selected account by Faster Payments, if it's working and if the organisation you transfer to receives Faster Payments, or by BACS. If you did transfer by Faster Payments you'd have to transfer out £1,000 or less at a time (Halifax's current limit on a Faster Payment) ie., if you had £3,000 in the account you'd have to split it into 3 x £1,000 transfers. Either way, you'd need to know the bank account number and sort code of the receiving bank/bs.

Edit: Sorry, in the time it took me to answer, rb10 already answered you.

MissScarlett_3

There isn't an option to transfer on the left hand side, assume it will be there when the money is transferred from the reg saver account to the web saver.
To clarify, I can transfer to my current account with a different provider?
Thanks both.

rb10

MissScarlett wrote: »

There isn't an option to transfer on the left hand side, assume it will be there when the money is transferred from the reg saver account to the web saver.

Really?

Maybe you are on the wrong screen.

When you log in, it takes you to My Accounts ... you will see in the middle it says:

2/12345678-9
Halifax Web Saver (Variable).......[Balance]........ [Drop down box saying 'Take me to >>'] Go
YOUR NAME

Click on the drop-down box, choose 'Transfers, bills, standing orders, DDs' and click Go.

That then should take you to a page that has a bit that says 'Transfers and bill payments - Create New'. Click this, and you can set it up.

That's how it works on mine - if you aren't seeing this, then it's possible that you didn't return a form, or missed something out at some stage. In that case, either phone them or go to a branch to find out what else they need from you.