Withdrawing from my Halifax ISA Direct Reward

Masomnia

I want to take a few hundred quid out of my ISA to an account with another bank to cover me for a month or so, but can't figure out how to actually withdraw the money...

The help/terms and conditions booklet isn't very helpful and I can't work out how to do it online. Do I have to phone them up? Will that be a nightmare?

opinions4u

I'd phone them and I think it will be quick. 08457 26 36 46.

A couple of alternatives:

If you have a current account with them, transfer the funds in to that and make a withdrawal from there. £1,000 or less will usually go via Faster Payments.

If you have a Web Saver variable account you could transfer the funds in to there and then send them on to their destination using the bill payment facility. It will go via BACS.

You could open a Web Saver variable and it will usually be operative within 60 seconds if you're already an active online user.

Loads of alternatives!

D1zzy

Masomnia wrote: »

I want to take a few hundred quid out of my ISA to an account with another bank to cover me for a month or so, but can't figure out how to actually withdraw the money...

The help/terms and conditions booklet isn't very helpful and I can't work out how to do it online. Do I have to phone them up? Will that be a nightmare?

Just in case - you do know that if you withdraw from your ISA you cannot put it back "in a month or so"?

Masomnia

opinions4u wrote: »

I'd phone them and I think it will be quick. 08456 26 36 46.

A couple of alternatives:

If you have a current account with them, transfer the funds in to that and make a withdrawal from there. £1,000 or less will usually go via Faster Payments.

If you have a Web Saver variable account you could transfer the funds in to there and then send them on to their destination using the bill payment facility. It will go via BACS.

You could open a Web Saver variable and it will usually be operative within 60 seconds if you're already an active online user.

Loads of alternatives!

Thanks. Yeah that's the problem I don't have other accounts with them. Seemed odd to me that there's no way of just sending the money to another account, so was looking for a hassle-less alternative. Suppose I shall just have to phone them tomorrow morning. Need the money by 1st Jan you see!

Masomnia

D1zzy wrote: »

Just in case - you do know that if you withdraw from your ISA you cannot put it back "in a month or so"?

I did consider that it would be using up my subscription, but it's very unlikely I'll be able to save £5,100 next year so it's not a problem.

Jems1985

I have an ISA with Halifax, I wanted to withdraw money too, thought it would be easy and hassle free as it is an online only account so thought I could manage it as such. No such luck, it completely refused to let me. You should be able to log in and click the tab to set up a new transfer/direct debit but apparently somebody set up my account wrong so I had to phone them and speak to 5 different people to get the money so good luck.

Masomnia

As an update I decided to increase my overdraft instead, which I didn't want to do, but it was easy enough.

There's something wrong when it's easier to borrow more than it is to access savings!

sly_dog_jonah

Looks like Halifax still haven't fixed this. I've got the ISA Direct Reward Saver, and it will not allow me to set up a transfer out to another bank (I don't have any other Halifax accounts). It perplexed the staff in the branch today, who had to phone up to arrange a small withdrawal, after which I should have been able to make a withdrawal by clicking on the saved details. No such luck.

:mad:

Masomnia

sly_dog_jonah wrote: »

Looks like Halifax still haven't fixed this. I've got the ISA Direct Reward Saver, and it will not allow me to set up a transfer out to another bank (I don't have any other Halifax accounts). It perplexed the staff in the branch today, who had to phone up to arrange a small withdrawal, after which I should have been able to make a withdrawal by clicking on the saved details. No such luck.

:mad:

Yup, same predicament. When I've phoned them up to make transfers out they've saved the details of external accounts there though. The staff on the phone have been helpful to be fair to them, but I do resent having to pay to do it.

I don't see why they're so far behind on this one when every other bank I've had dealings with have allowed me to organize all my withdrawals online.

opinions4u

I refer you to the answer I gave a year ago:

If you have a Web Saver variable account you could transfer the funds in to there and then send them on to their destination using the bill payment facility. It will go via BACS.

You could open a Web Saver variable and it will usually be operative within 60 seconds if you're already an active online user.

It will, in some circumstances, actually get package up and sent as an overnight FP, so may even reach the destination account the next day.

rb10

Masomnia wrote: »

I don't see why they're so far behind on this one when every other bank I've had dealings with have allowed me to organize all my withdrawals online.

There are several high street banks (e.g. Barclays) that don't even allow you to view all savings accounts online, let alone perform transactions on them.

Halifax are way ahead of them.