'Old' £250 Halifax Regular Saver

sarah998

I took out one of the very original Halifax Regular Savers about 4 or 5 years ago and it's just carried on taking the (maximum) £250 standing order each month without any problems.

Now, I'm in a position to be able to deposit £500 a month, which I believe you can do on the 'new' regular saver. The question is then, is the current (new) regular saver classed as being seperate from the original (old) regular saver?

If I just up the standing order, will that be OK, or do I have to go through all the rigmorale of closing the old account only to then open a new one?

It's a full time occupation just keeping up with the rules on these savings accounts! :wall:

oldfella

you should be OK - you technically open a new account each year at the T&Cs of that time

opinions4u

Just increase your standing order to £500 and that will look after everything.

You can do this on existing accounts not reaching the end of their term too.

Lady_K

This might be a silly question but I also have an old reg saver with halifax for about 4 years. Every year I have just started funding it again to start the process all over again till the next annual payment

What I wondered is as my annual payment is due in Sept if I continue funding the £250 will it still get the 7% its supposed to be on now or will it go down this time?

Also if I started funding it with £500 to make it the new reg saver (if this is possible) would it be the 5% interest?

Lady_K

I was told by the online banking that the interest on my present reg saver is 7% because it was opened and funded before the interest rates went down (apparently they went down around oct 2008) so I hope they arent going to give me 5% now. I did think it a bit strange that before I used to be able to see exactly what the interest rate was when I looked at my reg saver online as it was up at the top with my account number etc but then it dissapeared when interest rates started falling although I can see the interest rates on my other accounts

noh

The money you deposited between Sept. 2008 and Sept. this year will earn 7%.
Any money you deposit from this Sept untill Sept 2010 will earn 5%.