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Halifax current account Transfer limit

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Hi all

Anyone happen to know what the limit (if any) is on transfering money from current account to an building society account.
i had to close an account with bank today and have 20k i need to transfer over to a building society`s 6 month bond that only accepts 1 transfer in.
thx

Comments

  • McKneff
    McKneff Posts: 38,857 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I am not aware that there is a limit that you can transfer

    There is a Halifax Saver account at 2.8% plus another .2% if you are a current account customer. Is this a worse or better rate than you would get with the building society

    My OH is a non tax payer so he has this account. as he gets 3%, putting savings into a 2.6% ISA seemed a bit silly when he is getting a good savings rate.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • andy0073
    andy0073 Posts: 61 Forumite
    hi i was going for 6 month e bond for 3.05% for 6 months giving me 2.42% net after 6 months. as money not needed i thought was quite good.
    i see the halifax saver @ 2.8 but not the extra.2
    thx
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    edited 12 April 2010 at 9:50PM
    Web Saver Extra 2.8% Linky.

    The rate is variable and allows one withdrawal. Additional deposits are allowed.

    Linky to the extra 0.2%.

    Alternatively check out www.theaa.com/savings at 2.80% with more flexibility.

    £20k at 3.05% for 6 months = £244 net (fixed).
    £20k at 3.00% for 6 months = £240 net (variable).
    £20k at 2.80% for 6 months = £224 net (variable).
  • andy0073
    andy0073 Posts: 61 Forumite
    whilst your around does the 3.05 % e bond look good for 6 months? i think it would give me £484 (2.42 % net) on £20000 after 6 months then look around then for another rate?
  • Mikeyorks
    Mikeyorks Posts: 10,377 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    andy0073 wrote: »
    Anyone happen to know what the limit (if any) is on transfering money from current account to an building society account.
    i had to close an account with bank today and have 20k i need to transfer over to a building society`s 6 month bond that only accepts 1 transfer in.
    thx

    It's £15k via BACS .... but you can do more than one on the same day (but have to set up separate 'bill payments') If the BS won't consolidate the 2 x payments they will then get from you on the same day .... you will have to do it via cheque or CHAPS?

    i think it would give me £484 (2.42 % net) on £20000 after 6 months then look around then for another rate?

    ......... it's £244 net for 6 months (you've worked it for a full year?)
    If you want to test the depth of the water .........don't use both feet !
  • D1zzy
    D1zzy Posts: 1,500 Forumite
    andy0073 wrote: »
    Hi all

    Anyone happen to know what the limit (if any) is on transfering money from current account to an building society account.
    i had to close an account with bank today and have 20k i need to transfer over to a building society`s 6 month bond that only accepts 1 transfer in.
    thx
    The folowing from halifax in Nov 09 -
    In response to your query, I can confirm that an unlimited amount of funds can be transferred out of a Web Saver account through our Online Service. This is regardless of which organisation the destination account is held with.

    All other Bank and Savings accounts held on our Online Service are limited as to the amount of funds that can be sent per transaction.

    If a funds transfer is sent to another account with ourselves then each transaction can contain a maximum of £20 000, however more than one payment can be made to the same internal account per day.

    The majority of internal payments are sent and received immediately, and once the funds have been received in the destination account then another payment of up to £20 000 then be made.

    If a funds transfer is being made to an account with another organisation then up to £15 000 can be made per individual payment, however please be aware that only one payment can be made to an external mandate per day.
    The Faster Payments System will currently not accept transfers higher than £1000, if you are looking to send a higher amount than this please be aware it will go through the normal BACS route which will take 3-4 working days.
    On accounts with withdrawal limitations, Internal transfers will count as a withdrawal. If money leaves the account, regardless of its destination, then this is a withdrawal.


  • McKneff
    McKneff Posts: 38,857 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    andy0073 wrote: »
    hi i was going for 6 month e bond for 3.05% for 6 months giving me 2.42% net after 6 months. as money not needed i thought was quite good.
    i see the halifax saver @ 2.8 but not the extra.2
    thx

    We had no idea about the othe .2% until we went in for a make over on
    Saturday which is when they told us about it.

    We also got told that we bot had ISA open from 2000 (old ones)
    one with £68 in it and another with £16. in it. We had no idea about these, just completely forgot about them, and she couldnt tell us why we had not been sent annual statements.
    Halifax are brilliant but just now and again the shoot them selves in the foot.
    Our local branch ladies and gents are great on a custome service level.
    the on line c/s is left wanting.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    McKneff wrote: »
    We also got told that we bot had ISA open from 2000 (old ones) one with £68 in it and another with £16. in it. We had no idea about these, just completely forgot about them, and she couldnt tell us why we had not been sent annual statements.
    At a guess they are passbook accounts with the balance stated in the passbook. So why the need to send a statement?

    Alternatively, it may simply be that there's a policy not to send statements to low balance accounts on cost grounds. After all, at around £1 per statement it's a pretty significant cost on a £16 balance.
    Our local branch ladies and gents are great on a custome service level. the on line c/s is left wanting.
    I find the online service to be pretty good. What's your concern?
  • McKneff
    McKneff Posts: 38,857 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Now I think about it youre probably right about it being a passbook account.

    Thanks for that.

    re the online, last year i sent email after email and no one got back to me for about 10 days.

    Went into the branch, my problem was sorted in minutes.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
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