Halifax offering extra interest on 14 accounts

Mikeyorks

Apologies for posting this again. It's been listed twice on the thread relating to their online problems .... but appears to have submerged in the problems.

As it strongly looks to be these changes that have caused the problems today - worth a separate look? It's not world beating ... but Halifax are offering an extra 0.2% (fixed) for the next 12 months on 14 of their existing variable rate accounts - provided you have a qualifying current account / transfer a current account to them.

Full details and list of the accounts affected here :-

http://www.halifax.co.uk/savings/rewards.asp?!!!!!hpc_pos2_savings


But watch (look at 'Have an Account?' tab) ... that existing customers don't get this automatically. You, rather quaintly, have to print out the download on that tab and post it to them.

D1zzy

Mikeyorks wrote: »

Apologies for posting this again. It's been listed twice on the thread relating to their online problems .... but appears to have submerged in the problems.

As it strongly looks to be these changes that have caused the problems today - worth a separate look? It's not world beating ... but Halifax are offering an extra 0.2% (fixed) for the next 12 months on 14 of their existing variable rate accounts - provided you have a qualifying current account / transfer a current account to them.

Full details and list of the accounts affected here :-

http://www.halifax.co.uk/savings/rewards.asp?!!!!!hpc_pos2_savings


But watch (look at 'Have an Account?' tab) ... that existing customers don't get this automatically. You, rather quaintly, have to print out the download on that tab and post it to them.

Are any of these worth having even with +.2% - had a quick look and as far as I could see they paid "nothing" anyway - or did I miss something :rolleyes:

adambro

D1zzy wrote: »

Are any of these worth having even with +.2% - had a quick look and as far as I could see they paid "nothing" anyway - or did I miss something :rolleyes:

Web Saver Extra looks potentially interesting. 2.8% +.2 would make it 3% which is pretty decent.

firsttimestudent

adambro wrote: »

Web Saver Extra looks potentially interesting. 2.8% +.2 would make it 3% which is pretty decent.

Yes - but do remember you are only allowed one withdrawal for the whole year. Anymore than that and you suffer from loss of interest.

opinions4u

firsttimestudent wrote: »

Yes - but do remember you are only allowed one withdrawal for the whole year. Anymore than that and you suffer from loss of interest.

Although you could always close it each time you require a withdrawal and then open a new one a couple of days later !

Joe_Bloggs

The loss of interest on a second and subsequent withdrawals from the Web Saver Extra is 30 days loss of interest on the amount withdrawn. When the rate was 2.8% this was an instantaneous penalty of 0.23% of the amount withdrawn. At the new rate it is 0.24%
J_B.

Mikeyorks

D1zzy wrote: »

or did I miss something

It depends. If for some reason you have one of these accounts .... then it's an extra 0.2% for no effort. But it's certainly not an offer I would expect to have people falling over to open new accounts .... the list comprises of a lot of the worst yielding accounts.

But - for example - the Reward current account is my main account. Under the new Reward structure I run it with minimum balance (as opposed to the £2500 I had in it when it's predecessor paid 6%). Most of my non-tied cash is in an easy access account with a good (3.2%) rate - but it doesn't support FP. So in order to service well spread DDs I need to keep some funds adjacent .... otherwise they'd spend half the month in transit. The best Halifax offer for this support is a meagre 0.25% ..... this offer pushes it to a marginally less meagre 0.45%.

For the average £1k I keep locally alongside my Reward account .... it's a marginal improvement in the structure I can only improve by moving my current account. Which I don't wish to do.

D1zzy

Mikeyorks wrote: »

It depends. If for some reason you have one of these accounts .... then it's an extra 0.2% for no effort. But it's certainly not an offer I would expect to have people falling over to open new accounts .... the list comprises of a lot of the worst yielding accounts.

But - for example - the Reward current account is my main account. Under the new Reward structure I run it with minimum balance (as opposed to the £2500 I had in it when it's predecessor paid 6%). Most of my non-tied cash is in an easy access account with a good (3.2%) rate - but it doesn't support FP. So in order to service well spread DDs I need to keep some funds adjacent .... otherwise they'd spend half the month in transit. The best Halifax offer for this support is a meagre 0.25% ..... this offer pushes it to a marginally less meagre 0.45%.

For the average £1k I keep locally alongside my Reward account .... it's a marginal improvement in the structure I can only improve by moving my current account. Which I don't wish to do.

I Understand, but I don't think anyone should have money in any of these accounts!
Why not keep yr "adjacent" funds in a Vantage account (3% on £3000 if you don't want too much there) - their FP is good now{more reliable than HBOS} -£10K per day but only £1K per transaction.
{think I might be trying to teach granny to suck eggs }

Mikeyorks

D1zzy wrote: »

I Understand but I don't think anyone should have any of these accounts!

Halifax do ...... that's why they've ruined their online today in order to tempt you all! :rolleyes: By whisking up some poor accounts to make them look a little more frothy and tempting:p

Why not keep yr "adjacent" funds in a Vantage account

....... mainly because I've got considerably more than the upper limit of £7k in easy access cash at the moment. So the 3.2% is overall beneficial.

think I might be trying to teach granny to suck eggs

I was going to smile at that and just be non-committal. But .... you've made me think .... so thank you for that. I've got a very expensive cruise to pay for next week (reason for most of the cash) ... so the Vantage suddenly becomes more practical.
On the other hand ...... I've been forced into Funds (as term deposits have matured) over the last 12 months ..... and they've done - as Mr Kipling's cakes (whilst I'm into cooking analogies) exceedingly well. So well that they're making me nervous and I'm looking at an exit strategy on the ones that aren't in ISAs ..... which will likely inflate the cash again!

So I will muse on it all and see what comes out .. thanks. All that from a 0.2% increase ..... you can tell I'm normally happy with the little things in life.

D1zzy

Mikeyorks wrote: »

....... mainly because I've got considerably more than the upper limit of £7k in easy access cash at the moment. So the 3.2% is overall beneficial.

I did only mean it as an alt to yr websaver bit - not yr megabucks
Enjoy yr cruise - I'll be stuck in a eurostar tunnel on my way to snowy mountains - if only i'd know before booking that I'd be spending last week digging my way out through a foot of the stuff :rolleyes:

Mikeyorks

D1zzy wrote: »

I did only mean it as an alt to yr websaver bit - not yr megabucks

Realised that ... I was just developing it.

I'll be stuck in a eurostar tunnel on my way to snowy mountains

Is that to get (on) piste .... or something really interesting like the Glacier Express? If the latter - let me know how it goes ...... trying to talk the OH into a couple of weeks on the Swiss railways but she travels heavy (if that's the suitcase opposite of light?) and doesn't fancy (me) lugging luggage more than once. The cruise is to the Arctic ..... so we're just getting nicely acclimatised at the moment.