Halifax Reward has just matured - wrong interest!?

alared

Opinions4u
Thanks for that.
I was doing a bit of editing in post 31 when there was a forum technical hitch so I hope it`s come out OK.

dllive

Hi,
opinions4u: In answer to your questions:
1) it was openend 18 november 08
2) opening balance £60
3) no withdrawels, I only creditect the account
4) Ive worked out the interest and its definately .20%

Was there a ceiling to how much you could put into the account? I dont have 'loads' in there so doubt if I could have exceeded any ceiling amount they have on there.

noh

dllive wrote: »

Hi,
.....................
Was there a ceiling to how much you could put into the account? I dont have 'loads' in there so doubt if I could have exceeded any ceiling amount they have on there.

"Rate guaranteed for 12 months if balance kept at minimum of £50 and maximum of £500,000"

http://www.halifax.co.uk/savings/websaverrewardrates.asp

noh

Have you called them yet?
They are available today 08457 26 36 46

Rollinghome

opinions4u wrote: »

I agree that this is a far better account. My main reason for bothering with a Web Saver Extra is simply one of personal convenience and "on the off chance" that it may hold out at 2.8% as other easy access deals drop back in price.

Ah, I was worried that you (or I) had been victim of their confusion marketing.

Halifax/BoS currently have 31 different savings accounts, most with wildly complicated rules, plus almost a dozen more current accounts, and that's without counting their wagon-load of BMid\AA\Saga offerings.

I was rather assuming that savings rates had about bottomed out but just in case that's wrong I'll be sending those nice people at AA Savings my quid to open an account.

opinions4u

dllive wrote: »

Hi,
opinions4u: In answer to your questions:
1) it was openend 18 november 08
2) opening balance £60
3) no withdrawels, I only creditect the account
4) Ive worked out the interest and its definately .20%

Was there a ceiling to how much you could put into the account? I dont have 'loads' in there so doubt if I could have exceeded any ceiling amount they have on there.

The only other concern I would have is if it's a Web Saver with a cash card. If so, it didn't qualify for the Reward rate.

You don't really indicate what your average balance may have been, but 5% of £60 would be £2.40 interest after tax.

dllive

noh: OK, so I definately did NOT go over the maximum then! I tried phoning them this morning, but the message said they would be over 10 minutes before anyone could speak to me. Ill try later.

opinions4u: It didnt have a cash card. Im almost 'OCD' when it comes to looking at an account's T&Cs because I know the banks do like to lob the odd curve-ball! I wont specify how much I had in the account, but it was between £60 and £500,000! In other words, it complied with their terms.

lolly1963

Hi,
My Halifax [EMAIL="'fixed'@5%"]'fixed'@5%[/EMAIL] matures tonight! I have just noticed in my accounts online that it is saying 5% but says 'variable'. I definitely opened under the 5%fixed term and opened with internal transfer with £50 and have been adding to the balance ever since with no withdrawals.
Roll on tomorrow!! I have already had trouble with my Barclays regular saver which matured on friday with the wrong interest and raised a complaint on 30th October (2nd one as already raised a query for the same on 8th January 09!!!) tut tut...even worse when i went in the branch on Friday to to a fast payment from my Barclays saver to my external current account (with my id) to be told they CANNOT DO IT!! Had to come away with a Bankers Draft...needless to say complaint no 3 was lodged Friday afternoon, a complete shambles...i had been funding the account from my external account via standing order for the last 12 months!! Wont touch Barclays again with a bargepole.....
Roll on tomorrow.....!

dllive

lolly1963: Yes, my account said '5% variable' on the web screen too. I phoned Halifax regularly about this and each time was told not to worry about it. They said it will say 'variable' until it reaches the maturity date, and if you havent breached their terms, you will get the same as if it were fixed at 5%. I dont know why they cant assume you wont breach their terms and have '5% fixed' on the web screen instead - it does lead to confusion! Let me know how you get on. Ill be phoning them early tomorrow. It looks like the banks are up to their old tricks and need their greedy fingers prised open to get at our promised interest!!!

opinions4u

dllive wrote: »

lolly1963: Yes, my account said '5% variable' on the web screen too. I phoned Halifax regularly about this and each time was told not to worry about it. They said it will say 'variable' until it reaches the maturity date, and if you havent breached their terms, you will get the same as if it were fixed at 5%.

The Web Saver is a variable rate account. The Reward itself is fixed though. Mine said exactly the same and paid the correct rate.

It looks like the banks are up to their old tricks and need their greedy fingers prised open to get at our promised interest!!!

It won't be a trick. Something has gone wrong somewhere. It simply needs resolving.

If you wish to PM me the dates of deposits and the total interest paid I am more than willing to double check things for you in complete confidence.

Alternatively why not ring the online helpline on 0845 602 0000 and speak to somebody now?