New Halifax ISA 2.8%-3.0%

opinions4u

gsmilimited wrote: »

If I move to another bank before the 12 months period. Will I receive the 0,2%? or I will lost it?

Only if the account remains open. If it's closed, you won't get the extra interest.

demonblade

For those wanting clarification on the extra 0.20%, heres what i found on their website:


To qualify for your additional 0.20% AER interest on your qualifying savings account, you must pay £1,000 or more into your current account with us each month or have an Ultimate Reward Current Account. For any month you don’t pay in at least £1,000 in to your current account with us (or if you don’t have an Ultimate Reward Current Account), then the interest on your savings account will be paid at the standard variable rate applicable to that account for that month.

Your higher interest rate will apply to your existing variable rate savings account(s) for 12 months from the date we receive your registration. For any qualifying variable rate savings accounts opened after 4 January 2010, the higher rate of interest will apply for 12 months from the date of your account opening. Your additional interest will be calculated and paid separately after the end of the 12 month period in respect of each qualifying variable rate savings account held with us.

koenig

I have all my ISA funds with First Direct, I've just received a letter from them stating they will give me a 2.7% fixed rate for the next 12 months (no restrictions on withdrawals). I was going to transfer to Halifax but there's is a 3% variable rate (I have a current account with enough going in each month).

What's the chances of the Halifax rate dropping?
Also, is the 0.3% enough of a difference to make up for the lost of interest in the transfer?

Thanks

opinions4u

koenig wrote: »

What's the chances of the Halifax rate dropping?

While it's possible, they have a good track record in the last year or two of maintaining the rate on their various 'Reward' offerings. Specifically Guaranteed Saver Reward and ISA Direct Reward at 2.6%.

Also, is the 0.3% enough of a difference to make up for the lost of interest in the transfer?

You won't lose any interest in transfer. The Halifax ISA Promise says "When you switch your cash ISA to us we will not wait for your current provider, we pay interest from day one of receiving your completed transfer application."

So for a short period, you'll be earning interest with both providers.

glider3560

koenig wrote: »

Also, is the 0.3% enough of a difference to make up for the lost of interest in the transfer?

Halifax now pay interest from the date they receive your transfer form. So you effectively receive interest twice for a short period.

gt94sss2

My brother opened one of these ISA accounts last week.

If he were to now open a Reward Current Account, would he get the extra 0.2% added on automatically - assuming he met the funding requirement - or did it have to be opened first?

Regards
Sunil

opinions4u

gt94sss2 wrote: »

My brother opened one of these ISA accounts last week.

If he were to now open a Reward Current Account, would he get the extra 0.2% added on automatically - assuming he met the funding requirement - or did it have to be opened first?

Regards
Sunil

My guess, and it is a guess, is that the year would start from the point in time that the current account opened.

But it could be a year from the first £1,000 going in.

I would suggest ringing them 3 times and seeing how many different answers you can get. It could be fun!

rb10

gt94sss2 wrote: »

My brother opened one of these ISA accounts last week.

If he were to now open a Reward Current Account, would he get the extra 0.2% added on automatically - assuming he met the funding requirement - or did it have to be opened first?

Regards
Sunil

Open the Reward Current Account.

Then ask for them to apply the extra 0.2% interest.

They'll then apply the 0.2% from the date of his request, for a year from then.

subotei

I tried to open the 2.8% cash ISA yesterday on line - thought the website was down at first but finally got a message back that the ISA issue is now closed

opinions4u

subotei wrote: »

I tried to open the 2.8% cash ISA yesterday on line - thought the website was down at first but finally got a message back that the ISA issue is now closed

It's still available.

www.halifax.co.uk/savings

Ring them if you're having problems. 08457 26 36 46.