Halifax Childrens save 4 it (anyone from The Halifax, help?)

shopaholic2

Hi, my son has an account with the Halifax, and this sort of account doesn't allow any withdrawls...
He wants to buy an elecric drum kit which we have agreed to help fund, but he would need some of his savings, which basically means closing the account, BUT he only paid a £50 cheque in last wednesday, which won't have cleared yet...
Question is, can he close the account whilst there is still an outstanding cheque? Or can he change to a different account, withdraw what he needs and leave the rest??
Or will they let him make a withdrawel????

Thanks in advance

daniel598

The branch should let him make a withdrawal on the funds that are cleared in the account. Do you have a passbook for the account?

The save4it account allows unlimited withdrawals

http://www.halifax.co.uk/savings/accounts/childrens-savings/save4it/

shopaholic2

Thanks, I thought he had an account that didn't allow any withdrawls, and yes he has a passbook..
I was sure that the account was the one that doesn't allow withdrawls, and if you withdraw you have to close the account..

IF that was the case, what would they do about the uncleared cheque?
(there is enough money in the account to leave that amount in, and have enought for what he wants, btw)

opinions4u

I was sure that the account was the one that doesn't allow withdrawls, and if you withdraw you have to close the account..

That sounds like the Children's Regular Saver. That's an account that doesn't have a passbook and doesn't allow ad-hoc deposits. If he wanted to close that sort of account he would have to wait until the cheque has cleared and wouldn't be able to access the rest of the funds in it.

IF that was the case, what would they do about the uncleared cheque?

Assuming it's a Save4it account, he can withdraw up to the amount of the cleared funds from the account. It would remain open with the uncleared cheque in it. Once the cheque has cleared it would remain open until he chooses to close it.