New Halifax ISA 2.8%-3.0%

miller

miller wrote: »

I also got the standard ISA declaration to sign and return today before I can use the account (about a week after applying by phone). No sign of the transfer form yet (I can always download it).

And now I have been sent the transfer forms and an application form. I guess the application form is just for their records (i.e. I hope they don't open another account when I return it, in addition to the one I opened by phone)

Hollys_mum_2

I saw the Halifax on the site last week as a best buy, & tried to open an ISA on line, but had a standard a/c only open for limited time and now closed message. When I saw the same a/c again this week as a best buy, I have tried again today but it still not open to new money. This is the first time that I've tried any best bests from Martin's site. Do they really go that quickly? I'm a bit disappointed. I havent tried the Santander as I'm moving my ac from as as there service has been absolutely incredicably bad!

rb10

jennifernil wrote: »

They keep referring to the 12 month "Reward period"......12 months from when?

When I opened it (i.e. yesterday), when it is funded by my transfer in (depends how long that takes them), when they get my transfer request, or some arbitrary date linked to when the ISA first became available?

From the T&Cs:

The reward interest rate is variable. It applies for 12 months from the date we receive your opening deposit as long as you meet the terms of our reward offer.

jennifernil wrote: »

If the rate drops within this period, and I want to move to another provider, do I still get the Reward rate (whatever it is) up to the date of transfer? (I think YES, but only 90% sure)

It states in the T&Cs that:

Other than during this 60 day opening period, if you do not have at least £1 in your account the Halifax ISA Saver Direct variable interest
rate and account conditions will apply from the date your account balance goes below £1.

So I would take that to mean that the ISA Direct Reward rate applies up to the day before your balance falls below £1 (or is closed, as closure counts as a withdrawal).

However, the 0.2% bonus is definitely dependent on the account remaining open for a year. But there is nothing to stop you from doing a transfer elsewhere for the full amount less £1, and then transferring that once the year is up.

jennifernil wrote: »

After the Reward period ends it then pays a rubbish rate of about 0.5% ?

It becomes a normal ISA Saver Direct, which currently pays 0.5%.

jennifernil wrote: »

If I don't go ahead with the transfer in, the account will just close after 60 days?

Probably not - it will just become an ISA Saver Direct rather than Reward.

rb10

Hollys_mum wrote: »

I saw the Halifax on the site last week as a best buy, & tried to open an ISA on line, but had a standard a/c only open for limited time and now closed message. When I saw the same a/c again this week as a best buy, I have tried again today but it still not open to new money. This is the first time that I've tried any best bests from Martin's site. Do they really go that quickly? I'm a bit disappointed. I havent tried the Santander as I'm moving my ac from as as there service has been absolutely incredicably bad!

Definitely still available ... http://www.halifax.co.uk/savings/accounts/cash-isas/isa-direct-reward/ ... maybe worth phoning up or going into a branch if you are having difficulties using the internet.

blueberrypie

opinions4u wrote: »

The person on a reception desk is unlikely to know the full sales process because they're not authorised to sell. Merely to point you in the right direction (to someone paid to sell!).

I have to say, the guy in the branch I went to was excellent. He was at the reception desk, and I've seen him there a few times since, so I'm guessing he wasn't just filling in for someone. He knew instantly what I was talking about when I produced the forms I'd printed out, he asked if I had a Reward account and when I said I did, he said "oh good, then you'll get the extra 0.2%", he read through the forms, checked the computer to make sure they already had ID recorded, made appropriately sympathetic noises when I mentioned I was transferring from Santander, told me he'd take the forms straight in to the person who'd deal with them and said it should all be done that afternoon. A couple of weeks later when I was in the branch again, he was again on the reception desk and I went over to ask if he could check on the progress of the transfer-in, and he recognised me, remembered my last name, confirmed the process that the transfer goes through, and gave me the relevant information for the Halifax ISA so that I could add it to my on-line banking and see immediately when the transfer was credited.

He dealt with my other query (about opening an account for a child) in a similar helpful and efficient way.

And as if that wasn't enough, when I was walking past the branch a few days later, he looked up from the reception desk and noticed me and waved and called hi...

I'm quick to complain if there's reason for it, so I'll give praise where it's due too - and it was definitely due with this particular encounter :-)

jennifernil

Right.....I have now handed in our first transfer forms to the branch, they say they should be with the transfer team in a couple of days.

Will we receive any confirmation of this from them?

If not, can i ring them to check they have been received? (which number?)

I have assumed that we can also transfer in our 2 other ISAs each that are presently in 1 year fixes when the term ends, Am I correct on that? That will not be till late March and April 5th.

Baldur

jennifernil wrote: »

Will we receive any confirmation of this from them?

You'll receive an ISA confirmation of investment certificate.

I have assumed that we can also transfer in our 2 other ISAs each that are presently in 1 year fixes when the term ends, Am I correct on that? That will not be till late March and April 5th.

There is nothing to prevent you from applying to transfer your maturing FRISAs into the Halifax account but, obviously, there may be better rates available elsewhere by the time that you are ready to make those transfers.

jennifernil

Baldur wrote: »

You'll receive an ISA confirmation of investment certificate.

I was more thinking of whether they would let us know they had received the transfer forms and were acting on them. Just so we know that things ARE happening and the forms have not been lost somewhere.

Baldur

jennifernil wrote: »

I was more thinking of whether they would let us know they had received the transfer forms and were acting on them. Just so we know that things ARE happening and the forms have not been lost somewhere.

For most, if not all, of the many ISA transfers that I have made, both the 'losing' and new providers tend to contact by letter but, as Halifax have never had a competitive product available when I have wanted to transfer in the past, afraid I can't help.

opinions4u

jennifernil wrote: »

I was more thinking of whether they would let us know they had received the transfer forms and were acting on them. Just so we know that things ARE happening and the forms have not been lost somewhere.

Well they say they will in their ISA Promise.

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