Halifax Reward has just matured - wrong interest!?

opinions4u

johnieutah wrote: »

Have you got a link for this? Can't find it...

Cheers.

It was pulled last week. 3% on Guaranteed Reserve the best 1 year rate or 4.2% on Fixed Web Saver for 2 years.

Mikeyorks

rb10 wrote: »

Interest on fixed rate ISAs is (I believe) always paid on maturity (although it is still compounded annually).

Your belief is spot on. Halifax never add interest visually, in the interim years, for multiple year fixed ISAs - only on maturity. But they do occasionally send Statements for the interim years! All our cash ISAs are 4/5 years with Halifax (average 5.6% - so at least I got that right) ..... but there are nearly as many statements missing as are received.

MagicBurd29

Halifax / HBOS performance on statements and tax certs is increasingly woeful.

Trying to get a closing paper statement on a websaver is like drawing teeth. They *are* supposed to send these automatically but most callcentre staff - and most supervisors - deny this.

Worse still, in recent months I've had two statements on the same account which contradict each other. This suggests a worrying disconnect in back-office systems, not unlike I experienced at ICICI - which convinced me to withdraw my money from ICICI for safety. Many bank errors I can tolerate (provided corrected reasonably efficiently) but not their systems simply not adding up.

Mikeyorks

Halifax are fine on Statements / Tax Certificates - normally. But the one glowing exception - as you rightly point out - is for fixed rate Web Savers which mature in year.

I rarely get them for my own accounts and, last year, had 3 attempts at getting four for a Probate. Eventually had to concede defeat at the 50% received mark. Fortunately I had enough detail to calculate the figures I was missing.

That said - I've never been asked for the proof by HMRC and I've made repayment claims in each of the last 5 years in respect of a Community Investment Tax Relief account. So I simply keep a running spreadsheet with all my interest bearing accounts in - and then note the interest on maturity. Then cut / paste those to the bottom of the sheet in tax year headings. It works better than the Halifax!

D1zzy

noh wrote: »

Same here.
Mine matured on Sunday.
Managed £1500 by FP from each of my five accounts (2 different payees £1000 to one £500 to the second).
Won't even allow £1 by FP on any of my accounts today.

Mine matured today - online transfer to one of my reward accounts.
Called into the branch and asked for 2 cheques (FOC as I don't have a cheque book); trotted down to the Brittannia & opend 2 x 3yr @5% { 2 so I can close one early if needed and still leave the other @ 5%}.

All done in within an hour and no days with money lost in limbo :j

Also managed £1500 (£1000 + £500) - FP from each of my 3 reward accounts

alared

http://www.mmbs.co.uk/index.cfm?param=savings/details.cfm&id=137&navid=54

Gone for this one at 4%,fixed for about 13 months (4-1-11)

D1zzy

alared wrote: »

http://www.mmbs.co.uk/index.cfm?param=savings/details.cfm&id=137&navid=54

Gone for this one at 4%,fixed for about 13 months (4-1-11)

Too late stuck the last bit in HAX 2yr 4.2% before I saw it - need it to hang around for my Poppy Bond - but that's not very likely