Withdraw from Halifax Save4It account

Bloke

I want to withdraw £1200 from my sons Save4It account to put into my Lloyds account so that I can open a Halifax childrens regular saver and pay in the maximum £100 per month into it for him as a standing order.

I'm the trustee on the account. My question is can I withdraw the money any way other than in cash from a branch? Don't fancy walking to Lloyds with £1200 in my pocket!

I guess there is no way of transferring it electronically from the branch or writing some form of cheque payable only to me?

Wish you could operate these accounts online!

Thanks in advance.

opinions4u

Ask Halifax to provide you with a bankers draft payable to you.

No charge. More secure.

Bloke

opinions4u wrote: »

Ask Halifax to provide you with a bankers draft payable to you.

No charge. More secure.

Thanks, I did think of a bankers draft but didn't know you could specify a payee - also thought you got charged for these.

PudseyDB

I have three children's regular savers account with the Halifax and still have the save4it accounts as the money from the regular savers gets paid back into the save4it accounts at the end of the year with interest. (Hope that makes sense?)

When necessary I go the bank till to transfer some of the money from the save4it accounts into my Halifax account - which I set up purely to pay the monthly direct debits into their regular savers.

Basically you need to keep the save4it account - but it may be simpler to open a Halifax account just for the payments instead of transferring it to Lloyds. Unless your Lloyds account pays a reasonable interest, I find it better to leave some money in the save4it account until I can pay it into their monthly saver so that at least theyre getting some interest in the meantime.

blueberrypie

PudseyDB wrote: »

When necessary I go the bank till to transfer some of the money from the save4it accounts into my Halifax account - which I set up purely to pay the monthly direct debits into their regular savers.

Basically you need to keep the save4it account - but it may be simpler to open a Halifax account just for the payments instead of transferring it to Lloyds.

My children's Regular Savers matured this month, and the Standing Orders I'd had set up expired. Thinking it would be easier to fund the accounts from a Halifax account, I tried to set up SOs from one of my Halifax current accounts to the Regular Savers, but the system wouldn't let me. I had to set them up from a non-Halifax account.

I know, because I still have on Child's Regular Saver being funded from a Halifax current account, that it used to be possible - but I wonder if they are now preventing this.

opinions4u

blueberrypie wrote: »

I know, because I still have on Child's Regular Saver being funded from a Halifax current account, that it used to be possible - but I wonder if they are now preventing this.

Not that I know of.

Some of the terminology online has changed. What was an internal standing order to another Halifax account now appears to need to be a standing order full stop.

It may be worth a phone call or dropping in to the branch to clarify where things are going wrong.

0845 602 0000 is the online helpdesk.