Halifax ISA 3.00% AER now available.

Stompa

Optimist wrote: »

I am betting if you wish to make a withdrawal you are going to have to phone up.

Well here:

http://www.halifax.co.uk/savings/forms/generic_sav_app/forms/pdfs/1_336202-9.pdf

they state:

Withdrawal arrangements: Unlimited number of withdrawals by transfer to another account online or by telephone

so it should be possible. Or perhaps by 'another account online' they mean another Halifax account?

opinions4u

Stompa wrote: »

I seem to have just been switched over to the new layout. My ISA Direct Reward 4 account is showing up, but there doesn't seem to be any mechanism allowing you to make a withdrawal - am I missing something?

(I don't actually want to make a withdrawal right now, but would like to ensure that the facility is available just in case)

Online you should be able to transfer to other Halifax accounts (e.g. a current account or a Web Saver which you could then use to fire the funds out to the big wide world beyond Halifax).

By phone you can instruct them to send funds to an account elsewhere.

ffotogirl

glider3560 wrote: »

You don't need a current account to transfer money. Halifax can transfer money to another account elsewhere (over the phone) if you provide account details.

Deposits can be made in branch (if you prefer). You won't get a passbook, but they will provide a receipt for each deposit. You simply need the account number and sort code to make a deposit.

Online isn't mandatory either - although I'd personally not be able to live without it!

If you don't get any luck in a branch, give Halifax a call or open the account online. You'll probably be asked to take ID into a branch anyway if you choose one of the latter options.

Thank you glider3560! So helpful

One more question which is probably really bleeding obvious but having never done this before I just want to make sure I have everything clear in my head (seeing as the staff at my local Halifax obviously can't be trusted to give 100% accurate information!)...

I'm confused about when exactly the rate of interest drops to a rubbish deal. If I transfer my current ISA to the new Halifax ISA will the 3% interest be good for a year from the date my account opens? Or do I need to wait until the start of the new tax year to transfer? I hope that makes sense.

glider3560

ffotogirl wrote: »

I'm confused about when exactly the rate of interest drops to a rubbish deal. If I transfer my current ISA to the new Halifax ISA will the 3% interest be good for a year from the date my account opens? Or do I need to wait until the start of the new tax year to transfer? I hope that makes sense.

Halifax say the rate is for 1 year, but then go on to say it is variable. It could change at any time, but given Halifax's track record with this account, I would say it is unlikely (although not impossible). The year starts from the date of first deposit or receipt of transfer from old provider.

As the account is instant access, you can always transfer away should they drop the rate (or if another account starts paying more interest).

Stompa

opinions4u wrote: »

Online you should be able to transfer to other Halifax accounts (e.g. a current account or a Web Saver which you could then use to fire the funds out to the big wide world beyond Halifax).

Yes, but I don't particularly want to have to open such an account solely for this purpose. Should you be able to transfer out directly to non-Halifax accounts?

glider3560

Stompa wrote: »

Yes, but I don't particularly want to have to open such an account solely for this purpose. Should you be able to transfer out directly to non-Halifax accounts?

You can transfer to non-Halifax accounts, but only by telephone.

The only way of transferring online is with another account. A websaver is the easiest one to open and only needs £1.

Stompa

glider3560 wrote: »

You can transfer to non-Halifax accounts, but only by telephone.

The only way of transferring online is with another account. A websaver is the easiest one to open and only needs £1.

Ah OK, thanks for that.

christinejp

Mine stillll hasn't changed to issue 4. Been over two and a half weeks now. I've tried ringing the branch where I redesignated, and someone was supposed to ring me back. That was 2 days ago.

Anyone else still waiting for theirs to change?

By the way, my online screen is now showing in the new format at last, so I can at least check the interest rate and tax status. That's one step forward I suppose.

amictus

I am planning to add my 2010 allowance to my existing ISA account, transferring from my Halifax Current account. Should I use the online personal payment system to my ISA account? Or is there a more direct system for online transfers between connected Halifax accounts?

Thanks!

glider3560

christinejp wrote: »

Mine stillll hasn't changed to issue 4. Been over two and a half weeks now. I've tried ringing the branch where I redesignated, and someone was supposed to ring me back. That was 2 days ago.

Anyone else still waiting for theirs to change?

By the way, my online screen is now showing in the new format at last, so I can at least check the interest rate and tax status. That's one step forward I suppose.

I phoned on 28th February and it still hasn't changed. I'm still on the old online banking.