Halifax ISA 3.00% AER now available.

Stompa

There's no guarantee that they won't change the rate.

rb10

Hugbubble wrote: »

Hi

Mine is also reading with 3% interest, but as I have a Halifax reward current account, when might I expect it to read 3.2%.?Do I have to do something else?

No, as it says on the letter confirming that you are eligible for the extra 0.2%, this extra amount won't show up on your online statement, as it's not calculated until the end of the year, once they have checked that you have complied with the extra conditions attached to this (i.e. hold Ultimate Reward account or fund other current account with £1k+).

welshmoneylover wrote: »

This seems to be a variable rate ISA. Does this mean if I open one and transfer in at 3% can they change the interest rate say, in 6 months time so I'll lose out?

Or will it stay at 3% for the duration of the ISA?

It's instant access. So if a better account comes along, or the rate on this one drops, just transfer out.

opinions4u

welshmoneylover wrote: »

This seems to be a variable rate ISA. Does this mean if I open one and transfer in at 3% can they change the interest rate say, in 6 months time so I'll lose out?

Or will it stay at 3% for the duration of the ISA?

No guarantee. But their record on "Reward" ISAs is good.

1. Was fixed.
2. Never reduced.
3. Never reduced.
4. New, so you wouldn't expect it to have reduced.

As rb10 points out, there are no penalties for transferring out. The Halifax ISA Promise also allows you to move to a better ISA with Halifax should one come along. So there's no "new customers only" on it.

The other point is that it allows transfers in. So many "top" ISAs have an annoying restriction banning transfers in.

ThelmaLouise

Just to say that I rang 1st March and on 10th March after no action I rang to chase and was told they had no record of me ringing - they agreed to backdate to 1 March and I am still waiting. I have a history of Halifax messing up my requests - and this year looks as though it is going the same way as I have now received a letter saying that they cannot action my request as my ISA is a 2 year fixed one that cannot be transferred.:mad: I have 2 ISA s with Halifax and asked to move the 2.6% one NOT the 3.5% fixed one - here we go again!

bruirn

Have just opened this Halifax ISA after starting an A&L one last year. After transferring the matured A&L amount (£8,984) into the Halifax ISA I noticed today that online it is saying my 'Remaining allowance: £3,884'. Is this money I can put into the ISA now? I presume I will be able to put more money in after April 5th - £5,340 I think. Hope I've made myself clear Cheers!

jennifernil

When you transfer in, they do not necessarily know what contributions you have already made elsewhere in the current year.

If you contributed to your A&L ISA this tax year you can add £(5100-previous contributions) now you have transferred it.

This assumes you do not also have a current ISA elsewhere.

On April 6th you can start making contributions for your 2011/12 allowance.

bruirn

jennifernil wrote: »

When you transfer in, they do not necessarily know what contributions you have already made elsewhere in the current year.

If you contributed to your A&L ISA this tax year you can add £(5100-previous contributions) now you have transferred it.

This assumes you do not also have a current ISA elsewhere.

On April 6th you can start making contributions for your 2011/12 allowance.

Thanks for your reply. I opened the A&L ISA in March 2010 with £3,600 and then put in £5,100 in April 2010.

glider3560

bruirn wrote: »

Thanks for your reply. I opened the A&L ISA in March 2010 with £3,600 and then put in £5,100 in April 2010.

If that £5100 was on or after 6th April 2010, then you can't pay any money into any Cash ISA this tax year. After 6th April, you can put in £5340.

bruirn

glider3560 wrote: »

If that £5100 was on or after 6th April 2010, then you can't pay any money into any Cash ISA this tax year. After 6th April, you can put in £5340.

Yep, the £5,100 went in after April 6th. Cheers!

Svenena

If the extra 0.2% is only paid after a year, does that mean you have to keep the ISA for a whole year in order to get it? Or if, for example, a much better ISA became available elsewhere after six months, and I switched, would the extra (0.2%) interest be paid up to the date of switching?