New Halifax ISA 2.8%-3.0%

Mee

butterfly72 wrote: »

Also changed mine from Reward 2 to 3. I did it over the phone and it only took a few mins. Very easy.

Its still on the web site tho, I've just checked.

Hi Butterfly, Does your ISA say ...Reward 3 now? Mine was a Direct Reward 2 (2.65%) several days after 'phoning to be moved to ISA Saver Direct Reward. I 'phoned yesterday to check when it would change and they said they had a backlog. However, I've just checked and it just says ISA Saver - which is worrying....:(

rb10

Mee wrote: »

Hi Butterfly, Does your ISA say ...Reward 3 now? Mine was a Direct Reward 2 (2.65%) several days after 'phoning to be moved to ISA Saver Direct Reward. I 'phoned yesterday to check when it would change and they said they had a backlog. However, I've just checked and it just says ISA Saver - which is worrying....:(

There are lots of these accounts being opened/redesignated at the moment.

If they've changed it to an ISA Saver, then they've clearly received and actioned your request, and it will change to an ISA Direct Reward 3 in the next few days.

It doesn't matter how long it takes them though, as the 2.8% or 3% rate is backdated to the date that you submitted the request.

adindas

I have ISA with Santander which pay 2.75% and I am considering moving it.

The new Halifax ISA, Is this for a new ISA tax year or we could transfer the old ISA from previous year ?.

I am aware that the difference is not significant as for £10,000 with 0.25% pa the difference is just about 25 per annum. In the meanwhile, moving ISA from one to another bank might take a month so we will be llosing 1 month Interest. Am I right to think so, or you have another opinion.


Thank you for your time

ADINDAS

opinions4u

adindas wrote: »

I have ISA with Santander which pay 2.75% and I am considering moving it.

The new Halifax ISA, Is this for a new ISA tax year or we could transfer the old ISA from previous year ?.

This link says "If you already have an ISA with another provider and would like our ISA Direct Reward, you can transfer your ISA today free of charge"

I am aware that the difference is not significant as for £10,000 with 0.25% pa the difference is just about 25 per annum. In the meanwhile, moving ISA from one to another bank might take a month so we will be llosing 1 month Interest. Am I right to think so, or you have another opinion.

This link 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 better rate and a period where you will get paid interest by both providers.

Mee

rb10 wrote: »

There are lots of these accounts being opened/redesignated at the moment.

If they've changed it to an ISA Saver, then they've clearly received and actioned your request, and it will change to an ISA Direct Reward 3 in the next few days.

It doesn't matter how long it takes them though, as the 2.8% or 3% rate is backdated to the date that you submitted the request.

Thanks rb10. I hope they action it soon as I've set in motion a large transfer-in....

ses6jwg

They transferred mine from the 2.6 to the 2,8 percent account it does indeed sit in an ISA saver for a couple of days whilst transferring.

How they determine eligibility for the 3.0%?

I have a Reward Account but only do the £1000 when I can be bothered.

Lokolo

Unfortunately you cannot continue with the ISA Direct Reward application for one or more of the following reasons:

• you do not meet our age requirements
• you have already funded a cash ISA this year

!!!!!!. Guess I need to ring them.

rb10

ses6jwg wrote: »

They transferred mine from the 2.6 to the 2,8 percent account it does indeed sit in an ISA saver for a couple of days whilst transferring.

No ... appears to sit in an ISA Saver for a couple of days. It doesn't really, and you get the higher (2.8% or 3%) rate from the day you ask for it in reality.

ses6jwg wrote: »

How they determine eligibility for the 3.0%?

I have a Reward Account but only do the £1000 when I can be bothered.

Details are here: http://www.halifax.co.uk/savings/rewards/

For new savings accounts, the additional 0.20% AER will apply for 12 months from the date of account opening. For existing qualifying savings accounts, the higher rate will apply for 12 months from the date you sign up for this offer. The additional interest will be calculated and paid together with your standard interest on your next interest payment date following the 12 month reward period.
For any month you don’t pay in at least £1,000 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.

Note that if the account was opened before the start of this year, you will need to specifically ask for the extra 0.2% (either by phone, in branch, or by post).

adindas

Thank you for your time.
Is Halifax under the same umbrella with Llloyds -TSB for FSCS £50,000 guarantee limits

ADINDAS

opinions4u wrote: »

This link says "If you already have an ISA with another provider and would like our ISA Direct Reward, you can transfer your ISA today free of charge"

This link 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 better rate and a period where you will get paid interest by both providers.

blueberrypie

opinions4u wrote: »

This link says "If you already have an ISA with another provider and would like our ISA Direct Reward, you can transfer your ISA today free of charge"

Do you or anyone else know if Halifax will allow me to transfer in my 10/11 contribution-so-far and then let me top it up? I know this is permissible under HMRC rules, but I also know some ISA providers are difficult about it.


ETA that I'm wanting to transfer from a non-Halifax ISA