New Halifax ISA 2.8%-3.0%

ray123

Thank you for the info OP, that is an excellent rate.

I want to transfer ISA from nationwide to halifax, but have a question regarding this:
Will Halifax backdate the interest to the date the transfer is initiated, as I am unwilling to lose 1 month of interest?
For example, if the money leaves nationwide on 1 Oct and my account is opened with halifax on 1 Nov, will halifax backdate the a/c opening date to 1 Oct?

Hope the question makes sense.

rb10

ray123 wrote: »

Thank you for the info OP, that is an excellent rate.

I want to transfer ISA from nationwide to halifax, but have a question regarding this:
Will Halifax backdate the interest to the date the transfer is initiated, as I am unwilling to lose 1 month of interest?
For example, if the money leaves nationwide on 1 Oct and my account is opened with halifax on 1 Nov, will halifax backdate the a/c opening date to 1 Oct?

Hope the question makes sense.

There are two ways in which ISA transfers can be sent - by BACS or by cheque.

If Nationwide send it by BACS, then you'll only lose 3 days interest anyway, so not really worth worrying about too much.

If they send it by cheque, then Halifax will backdate the interest to the day after the date on the cheque.

Mee

Just phoned Hal. have transferred my ISA Direct Saver Reward 2 (2.60%) to the ISA Direct Reward (3.00% with Reward c/a as long as £1k/month is credited to account).
I should have checked this, but does anyone know if there is an upper limit on the transfers-in?

opinions4u

Mee wrote: »

I should have checked this, but does anyone know if there is an upper limit on the transfers-in?

There's no limit.

<cue for a song>

OnlyMe_08

Halifax offered 3% fixed for 2009-10 and 2.6% for 2010-11, but I cannot recall whether the 2.6% was fixed or variable?

glider3560

OnlyMe_08 wrote: »

Halifax offered 3% fixed for 2009-10 and 2.6% for 2010-11, but I cannot recall whether the 2.6% was fixed or variable?

09/10 3% was fixed for 12 months. Unsure about the 10/11 account.

rb10

The 2.6% account that was available from Feb(?) until last week was a variable rate. It hasn't changed yet though.

choc_mouse

Just an update. Halifax opened my ISA account on Friday as it is showing in my online banking. Still waiting to receive any paper work but expecting to get the transfer forms soon then will see how quickly it goes from Nationwide to Halifax.

ray123

choc_mouse wrote: »

Just an update. Halifax opened my ISA account on Friday as it is showing in my online banking. Still waiting to receive any paper work but expecting to get the transfer forms soon then will see how quickly it goes from Nationwide to Halifax.

Will you not lose the interest due on Nationwide account, since it is only payable on 31 August each year?
Or will nationwide pay the accrued interest when closing the a/c?

'Interest is paid annually into your e-ISA on 31 August.'

glider3560

ray123 wrote: »

Will you not lose the interest due on Nationwide account, since it is only payable on 31 August each year?
Or will nationwide pay the accrued interest when closing the a/c?

'Interest is paid annually into your e-ISA on 31 August.'

Although interest is paid annually, it is calculated daily. So if you close the account today, you will receive any interest due up to today's date.