Halifax regular save 10% from last June

rb10

Christa1 wrote: »

The statement looks like this:
Opened 2 July with a pymentthen:
30 July SO for that month
29 August
1 October
31 October
3 Dec
31 Dec
2 Feb
4 March
1 April
1 May
So as you can see I need a payment in June and July to make the full 12. As I can't double payments for June what should I do?

You have totally broken the Terms and Conditions - you are lucky that they seem to have generously let you off for some months and not closed the account.

However, I'd have thought that they are totally within their rights to not pay you 10%, as you missed payments in September, November and January.

Paul_Herring

You have totally broken the Terms and Conditions

While I agree, it's just occurred to me that those dates might be the dates in the source account - and allowing for (say) 2 working days, they would reach the RS account in the intended months:

Opened 2 July with a pymentthen: - July's
30 July SO for that month - (Wed, to land 1st)August
29 August - (Friday) September
1 October - October
31 October - November
3 Dec - December
31 Dec - January
2 Feb - February
4 March - March
1 April - April
1 May - May

rb10

Paul_Herring wrote: »

While I agree, it's just occurred to me that those dates might be the dates in the source account - and allowing for (say) 2 working days, they would reach the RS account in the intended months:

That could be right, although why do the dates the standing orders leave change so much? They should all leave on the same date, plus up to two days for weekends.

Good thinking, but I still reckon that for this reason it's the dates that they arrive in the RS that have been posted.

Christa1

Don't mean to add to the confusion but I opened the account on 2 July with a small payment it must have been to get the higher rate of interest. My pay day at that time was 27 monthly, so the 30 July payt was for July, August payment for August, 1 October payt for September, 31 October payt for October. In Novemeber my pay date changed to 29th of the month so changed SO to 29th monthly, it must have been leaving my account on time but not reaching Halifax until early the following month, so as you can see I have still only made 10 payments? I called the Halifax a short while ago and she lady I spoke to said to make another payment to come out at the end of June in time for it to reach Halifax by 1 July and note it that this was June payment- does this sound feasable?

apt

The only way you can have kept to the terms and conditions is if the initial payment was for at least £25 and the payments you made at the end of July, August, October and December only reached the 10% Regular Saver the following month. In that case you will have made 11 payments, one each month, and need to make one further payment in June. Either this is the case or Halifax has been very lax in not closing the account and returning your money with very little interest.

EarthBoy

sloughflint wrote: »

.... I think you should let your next SO go through on 29th May ( to hit RS on 2nd July) .....

Crikey, that would a slow payment, -one that takes over a month to reach the account!

Paul_Herring

Tsk. Editing your posts to correct brainos like that isn't allowed. Especially when the pre-edit text is quoted directly after it

Paul_Herring

<shrug> Even the smiley at the end didn't help?

moneysavingnewbie_4

Can someone help me decide if I ought to put a payment in at the start of June? As I opened and credited my account with the first payment on 23rd June 2008, and including the May 2009 payement I have made 12 monthly maximum payments of £500. Online banking is showing anniversary date of 23rd June 2009.

Accoutn Details look like:
20 May 2009 Bank Credit - 475.00.............................6,000.00
07 May 2009 Bank Credit - 25.00...............................5,525.00
06 Apr 2009 Bank Credit - 500.00............................. 5,500.00
05 Mar 2009 Bank Credit - 500.00.............................5,000.00
05 Feb 2009 Bank Credit - 500.00..............................4,500.00
07 Jan 2009 Bank Credit - 500.00...............................4,000.00
04 Dec 2008 Bank Credit - 25.00 ...............................3,500.00
03 Dec 2008 Bank Credit - 475.00 .............................3,475.00
06 Nov 2008 Bank Credit - 25.00 ..............................3,000.00
05 Nov 2008 Bank Credit - 475.00 ............................2,975.00
15 Oct 2008 Bank Credit - 475.00 .............................2,500.00
06 Oct 2008 Bank Credit - 25.00 ...............................2,025.00
04 Sep 2008 Bank Credit - 25.00 ...............................2,000.00
04 Sep 2008 Bank Credit - 475.00 .............................1,975.00
06 Aug 2008 Bank Credit - 25.00 ...............................1,500.00
06 Aug 2008 Bank Credit - 475.00 .............................1,475.00
04 Jul 2008 Bank Credit - 500.00 ...............................1,000.00
27 Jun 2008 Bank Credit - 25.00 ...................................500.00
24 Jun 2008 Bank Credit - 449.99 .................................475.00
23 Jun 2008 Bank Credit - 25.01 .....................................25.01

opinions4u

Can someone help me decide if I ought to put a payment in at the start of June? As I opened and credited my account with the first payment on 23rd June 2008, and including the May 2009 payement I have made 12 monthly maximum payments of £500. Online banking is showing anniversary date of 23rd June 2009.

Might as well do. 23 days of 10% interest on £500 is £3.15 gross.