Halifax Hacks WebSaver Extra Rate to 2.6%

2010

From today,the account that M.Lewis recommended in this week`s email has already been hacked from 2.8% to 2.6%. :mad:

Martin did say to keep an eye on the account because it was a variable rate, but for Halifax to chop so soon after is reprehensive.
Yet again Halifax have chopped saving rates.


Interest rates (AER) effective from 0.00am on 30th April 2010

£100,000+2.60%

£1+2.60%

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

rb10

Although MSE has only just picked up on it, it has been paying 2.8 & 3% for many months.

Note that if you have a current account you'll now be getting 2.8% on this account.

opinions4u

2010 wrote: »

From today,the account that M.Lewis recommended in this week`s email has already been hacked from 2.8% to 2.6%.

A little adjustment down in line with the market, or a hack? A hack would be significantly more than 0.2% imho.

Martin did say to keep an eye on the account because it was a variable rate, but for Halifax to chop so soon after is reprehensive.

Why should they build their pricing around communications by Martin Lewis / MSE? That's a really odd thing to say.

Yet again Halifax have chopped saving rates.

Although the account still pays well above BofE rate. Show me a provider who hasn't reduced a rate in the last year.

It's still a decent paying account. You may be able to find marginally higher out there with instant access. Try https://www.theaa.com/savings.

Reaper

opinions4u wrote: »

You may be able to find marginally higher out there with instant access. Try www.theaa.com/savings.

The only problem with that one is 2.3% of the interest is in the form of a bonus that expires after a year, so you will need to move it after that.

2010

The Halifax has constantly and consistently chopped rates for the past 9 months more so than other providers.

I used to have about six accounts with them until recently and because of their hacking of rates,I`m down to just a current reward account.

We all know that the BoE .5% is an artificial rate anyway.

Vote with your feet and move your dough.

arjar

I've closed all my Halifax accounts - partly because of poor rates, but also as a protest to them removing information about the rate being payed from the account summary for online accounts. Vote with your feet!

Simon11

I'm with you Arjar!

Once my fixed year isa comes up in a month, I'm moving my money to another place!

They're offering such low rates, and not knowing the interest rate really annoys me!

rb10

arjar wrote: »

I've closed all my Halifax accounts - partly because of poor rates, but also as a protest to them removing information about the rate being payed from the account summary for online accounts. Vote with your feet!

Whilst I don't like the fact that they've removed the interest rate information from internet banking, I am intrigued to know which bank you've found that does offer this? Very few do.

And as for low rates - this thread is about an account that pays up to 2.8%, with instant access. I don't know of any other equivalent account that's higher than this! So your argument seems to fall down quite spectacularly here.

mroller

Reaper wrote: »

The only problem with that one is 2.3% of the interest is in the form of a bonus that expires after a year, so you will need to move it after that.

Really?
I have gone through the details of the account and I see no mention of the bonus!

Sparky47

mroller wrote: »

Really?
I have gone through the details of the account and I see no mention of the bonus!

I think Reaper is referring to the AA account that Opions4u mentioned.
That pays 2.8% of which 2.3% is a 12month bonus.

2010

More crap cuts from the hali:

Halifax


FIXED RATE ISA SAVER reduced by 0.25% w.e.f. 30.4.10.
1 Year: 2.25%.
2 Year: 3.25%.
3 Year: 3.50%.
4 Year: 4.00%.
All other terms and conditions remain unchanged.