Halifax Guaranteed Saver Reward transfer taking 48hrs

dougz_2

I opened this supposedly instant access savings account to go alongside my Halifax current account, thus to be able to get interest 2.2% while still having the funds instantly available for purchases by transferring between my Halifax accounts using online banking, just like I have always done with their similar instant savings accounts.

So I was dismayed to find out today that when I tried to do that it said it will take 48hrs. There was no mention of this significant handicap where it was advertised as "dip into your savings whenever you want" http://www.halifax.co.uk/savings/accounts/easy-access/guaranteed-saver-reward/

Another thing, when I requested the transfer it said the account has restrictions on withdrawals, and I notice there is even a withdrawal count, again this is nonsense because it was supposed to be unlimited withdrawals.

Does anyone else have a Guaranteed Saver Reward, of the current incarnation, and if so have you experienced the same issues? Or is there something wrong with my particular account?

PS: and they haven't sent me the cash card either, or do you have to ask for one manually?

Mikeyorks

I've got the slightly earlier incarnation (opened Aug). Similarly all transfers take (at least) 48hrs and I could never find a mention of that anywhere.

It was meant to be an adjacent and instant buffer to my Reward current account - which I run at close to £zero - and has proven useless for that, owing to the time delay. So I still wholly rely on FP transfers from Lloyds TSB Vantage.

All my cash accounts are in the OH name, for tax purposes .... so I'm just waiting on her to get round to ringing Halifax to close this one - as it's not really fit for any purpose.

I had taken it the withdrawal counter was a hang over from previous versions - where the number of withdrawals was restricted? Can't answer on the cash card as I inhibited it.

opinions4u

I can confirm what Mike says. Branch and telephone withdrawals are same day. There is a fix planned for online transfers. Not sure when, but I would guess august.

lucky77

I had been using my Websaver acct to make transfers to my Reward current accts and the transfers were instant. I closed it and opened the Guaranteed Saver for better interest and likewise find it useless for transfers. I requested a transfer from the Saver account to current acct on the 7th December and it wasn't done until the 11th! I haven't had a cashcard either but would not have requested one.

Regarding withdrawals - the website still states these are unlimited.

Nath4n

I'm having exactly the same issues - opened it as an unlimited withdrawal 2.2% savings accompaniment to my Reward Current Account.
Also very dismayed to find the large delay on transfers between the Guaranteed Saver accoiunt and my current account. Yet transfers IN are instant!?

Anymore news/details on this?
Also did any of you get your ATM card - it's been almost a week now and no sign of it, but have had a letter confirming the account opening?

opinions4u

Nath4n wrote: »

I'm having exactly the same issues - opened it as an unlimited withdrawal 2.2% savings accompaniment to my Reward Current Account.
Also very dismayed to find the large delay on transfers between the Guaranteed Saver accoiunt and my current account. Yet transfers IN are instant!?

Anymore news/details on this?

I refer you to post #3. A solution should be in place by August.

It was originally built as a branch product, so some of the online functionality isn't perfect. Same day transfers do work in branch and by phone.

Also did any of you get your ATM card - it's been almost a week now and no sign of it, but have had a letter confirming the account opening?

Typically 10 days after opening the account.

Nath4n

opinions4u wrote: »

I refer you to post #3. A solution should be in place by August.

It was originally built as a branch product, so some of the online functionality isn't perfect. Same day transfers do work in branch and by phone.

Typically 10 days after opening the account.

Thanks for the info, that makes sense seeing as transfers into current account show as CSH instead of TFR. Where did you get the August fix estimate from, are you a Halifax employee?

As silly as it is, like mikeyorks mentioned I'm tempted to open a LLoyds Vantage account to use for savings - then if and when I need the money LLoyds FP should easily beat the internal transfer delay for this account.

Special_Saver2

I had the same problem with a telephone request. I requested a transfer on the telephone at lunch time on a Monday. I was told it would take 2 working days but the transfer did not go through until the next Monday morning (i.e. it took 1 week).

SS2

opinions4u

Nath4n wrote: »

Thanks for the info, that makes sense seeing as transfers into current account show as CSH instead of TFR. Where did you get the August fix estimate from, are you a Halifax employee?

I was. Then I wasn't. Now I sub-contract to LBG. They've had a fair chunk of my life with a further 7-8 months of it to come.

Special_Saver2 wrote: »

I had the same problem with a telephone request. I requested a transfer on the telephone at lunch time on a Monday. I was told it would take 2 working days but the transfer did not go through until the next Monday morning (i.e. it took 1 week).
SS2

That's just pathetic. Should still be same day.

[Deleted User]

Sorry to dig up a 4-month old post, but I've just opened one of these, and found the online transferring process to be well and truly awful.

Sold it on the basis of instant access, but having to wait for the transfer to be done manually is just shoite.

opinions4u

billbennett wrote: »

Sorry to dig up a 4-month old post, but I've just opened one of these, and found the online transferring process to be well and truly awful.

Sold it on the basis of instant access, but having to wait for the transfer to be done manually is just shoite.

Web Saver Reward 2.8% + possible 0.2% might be the solution you really need.