Halifax regular saver error

Wanno

Well I have been looking forward to getting my regular saving balance from the 10% Halifax regular saver. I get a letter through the post today saying that they did not receive the last payment and so interest will be calculated at the websaver amount.
eh?

I checked with my bank and they have said that the regular saver standing order set up by Halifax had an end date of 24 May. What would you do to rectify?

I am anticipating that the interest would be minimal now that I haven't fulfilled the terms of the regular saver, but it is their error. Will be so mad if they don't pay out the full interest. I will hit the roof!:mad::mad::mad::mad:
What would you do?

opinions4u

Can you list precisely what payments you have made on what date.

If you have funded the account in June 2008 and every month since there shouldn't be a problem.

If you haven't, there is a problem.

Did your bank pay in May?

Wanno

Last payment was on 24 April. Presumably the last one should have been 24 May. (i did actually think it was going to be June but now I realise it would have been May.

But they were the ones who set up the standing order. You would have throught they would have put it for the full 12 months and not miss the last pay month!

LucyTheDwarf

Have you spoke to Halifax? I've had a few problems with Halifax in the past, and have always had things sorted out easily with a polite but insistent phone call - perhaps I'm just lucky, but I've spoken to people who were pretty useful! If it truly is their mistake, I can't imagine they won't honour the 10% interest rate. Or am I overly optimistic and naive?

opinions4u

Wanno wrote: »

Last payment was on 24 April. Presumably the last one should have been 24 May. (i did actually think it was going to be June but now I realise it would have been May.

But they were the ones who set up the standing order. You would have throught they would have put it for the full 12 months and not miss the last pay month!

You need to ask your bank for a copy of the standing order mandate.

This will establish where the error is.

- have they acted on an instruction you signed?
- have they misread it and missed a month off?

Were the funds available in your bank account for the May payment?

But they were the ones who set up the standing order. You would have throught they would have put it for the full 12 months and not miss the last pay month!

Ultimately you signed the form. So the error lies with you or the bank paying the standing order.

rb10

Halifax don't set up the standing order - that's the responsibility of you, or the bank where the standing order came from. In my case, they gave me a blank form to fill in myself with the account details and dates I wanted the payment to be made.

Sooler

I think the 'month' starts from the account opeing date, and there is no requirement for the money to be paid in on the same date each month, anytime within the month is ok.

What was the opening date of the account?

Are the payments on the 24th at the start of the month for the account? If so you may have from May 24th to June 23rd to make the last deposit.

apt

For the Halifax regular saver you have to pay in each calander month.

Wanno

I went into Halifax today and the customer service lady was very helpful and said they would sort it out. And actually it was Halifax who set up the standing order and put an end date after 11 months, not 12 months. It has been them who have cancelled the monthly deposits. The cash was always available and I was under the impression that it was still coming out. I had also been in to check on the interest rate at the beginning of May and actual closing date and it wasn't picked up that it had aready been closed down.

Oh well hopefully they will rectify the mistake. I presume they will require the final £500. I had a statement through today which showed the interest on the whole balance calculated at the interest for the websaver now. Baring in mind I put in £500 per month for 11 months the grand total was...
£39.33!

They had better rectify it. I would hate the think that because of an error in calculaing how many months in the year that I would loose my 12%!

opinions4u

I went into Halifax today and the customer service lady was very helpful and said they would sort it out.

This sounds vague to me. Who will take ownership of your complaint? What will they do? How will they do it? When will they do it by? How will they keep you informed? From reading the words typed I am concerned you may have been fobbed off a little.

And actually it was Halifax who set up the standing order and put an end date after 11 months, not 12 months

The Halifax staff member may have completed the form, but your signature confirming the instruction is very relevant in this. By signing the form you have personally authorised the mistake.

Have you asked your bank for a copy of the mandate? I can't see the complaint being resolved in your favour without it. Halifax won't be able to recover the mandate without a written authority from you authorising your bank to do this (unless they were actually diligent enough to keep a photocopy with the new account form).

Oh well hopefully they will rectify the mistake. I presume they will require the final £500.

Without the final payment they won't be able to resolve it in your favour.

Have they actually admitted an error?

Good luck!