HALIFAX Web Saver Extra

adindas

Dear All
How is the interest rate for Halifax Websaver Extra calculated ?
When is the interest rate paid into our a/c ?

I have seen from their T&C the following:

"We work out the interest daily and pay it into your account on the last day of each interest period. Before we pay it in, we will take off any interest you owe us from your account being overdrawn. The interest periods are set out in the special conditions"

I do not understand the wording of the last day of each interest period, do not know when either.

Do you have any idea. I am asking because I open a/c, and
On 03 August and keep adding it and in 11 August It has accumulated to £25,000.00

On 12 September I make withdrawal (thorough FP) on the amount of £15,000.00. Halifax allow 1 wihtdrawal a year without loosing the interest.

I just checked my saving a/c a few minutes ago, no interest have been added ?,

Do you have any opinion to help me understand the way the interest is calcauted and when it will be added.

THank you
ADINDAS

rb10

Interest is paid annually on the anniversary of opening the account. So the next interest payment date will be 3rd August 2011.

YorkshireBoy

adindas wrote: »

Do you have any opinion to help me understand the way the interest is calcauted and when it will be added.

The information you require is right there on the Halifax website...

Interest paid - annually on anniversary of account opening

http://www.halifax.co.uk/savings/ImportantInfo/ImpInfo_WebSaverExtra.asp

Mikeyorks

adindas wrote: »

On 12 September I make withdrawal (thorough FP) on the amount of £15,000.00. Halifax allow 1 wihtdrawal a year without loosing the interest.

They do ...... but bear in mind that closing the account is considered a withdrawal. So if you now decide to close the account prior the anniversary - you will give up 30 days interest on the closing balance.

adindas

Hi Guys
Thank you very much. It is very helpful. I understand now that it wil be paid on anniversary of account opening.

ADINDAS