Halifax ISA 3.00% AER now available.

aliasojo

Aaaargh, I've just found the transfer form I printed off during my online application on the 1st March! I thought I'd posted it!

Do they need to get the form within 28 days or for the actual transfer to be done within 28 days? This is the 21st so if it's the transfer then I'm pretty stuffed I think, I read it can take up to 15 days.

10_66

aliasojo wrote: »

...Do they need to get the form within 28 days or for the actual transfer to be done within 28 days? ...

It's the funds that should be received within 28 days, not the form. You could always try ringing them to see if they'll still honour it for you, though.

If that doesn't work, I wonder if you could open another one with them (or whether you're restricted to opening one with them). Because as long as you don't fund the one you've just opened, you could always ask them to close it, to open another one to start another 28 days (not sure if that makes any sense)?

aliasojo

10_66 wrote: »

It's the funds that should be received within 28 days, not the form. You could always try ringing them to see if they'll still honour it for you, though.

I just ran into town to hand the form into a branch. Girl took me into an office there and then to log the form info onto something or other on her computer.

She didn't seem to know anything about the 28 day thing and said it was no problem, all was as it should be. She did agree that it could take up to 15 days for the money to be received into the account though.

Best of it is, the ISA info pages on the website state 60 days for transfer!

10_66

aliasojo wrote: »

...Best of it is, the ISA info pages on the website state 60 days for transfer!

The 60 days is usually for the fixed rate ISAs, if you have a look HERE, under the "summary box" it states about the 28 days.

aliasojo

Ah, looks like I'm stuffed then.

Edit: Wondering now if I could have/should have just closed my A&L ISA and withdrawn the funds then gone into Halifax to deposit them. Would that have been quicker? I assume the A&L ISA could just have been closed immediately like a normal account?

rb10

aliasojo wrote: »

Ah, looks like I'm stuffed then.

Edit: Wondering now if I could have/should have just closed my A&L ISA and withdrawn the funds then gone into Halifax to deposit them. Would that have been quicker? I assume the A&L ISA could just have been closed immediately like a normal account?

No, I expect you'll be ok.

Wait for the transfer to go through, and then after the money has been credited check that you are on the ISA Direct Reward 4. If the transfer takes too long, and you default back to an ISA Saver Direct, then you can always phone up and redesignate back to an ISA Direct Reward 4 (assuming it's still available - but I'd expect it to be available at this rate or higher until the 3rd/4th week of May).

ISA transfers do seem to go through quicker than they used to. My experience this year is:

12th March - transfer form handed in to Halifax
17th March - Santander closed ISA and sent funds electronically to Halifax
21st March - funds received in Halifax ISA.

Total time elapsed: 5 working days. Not bad.

10_66

Has anyone else opened a Direct Reward 4 for a transfer in from elsewhere, where the funds have been received, but the date showing has still not been corrected to the date the transfer form was received, rather than the date the funds were received? I've made them aware of this and assume the delay's because of a back log.

The actual transfer was really speedy, Barclays closed account on 11th, and funds were in Halifax on the 14th, which considering there was a weekend inbetween, surprised me.

opinions4u

10_66 wrote: »

Has anyone else opened a Direct Reward 4 for a transfer in from elsewhere, where the funds have been received, but the date showing has still not been corrected to the date the transfer form was received, rather than the date the funds were received? I've made them aware of this and assume the delay's because of a back log.

Probably. They don't usually backdate. Expect to see an "interest adjustment" paying you the additional interest due in the next few days.

The actual transfer was really speedy, Barclays closed account on 11th, and funds were in Halifax on the 14th, which considering there was a weekend inbetween, surprised me.

That is pretty sensational stuff from both Halifax and Barclays!

Your Reward year should start from the 14th March.

jennifernil

When we transferred our ISAs from Northern Rock to Halifax in December, the NR ISAs ended 15/12 and the Halifax ones started 16/12, We were amazed!

Our transfer forms were handed in 27/11, and we received 20 days "Promise" interest added to the transferred amount on the 16th, though it did take until after New Year for that to show up.

opinions4u

jennifernil wrote: »

When we transferred our ISAs from Northern Rock to Halifax in December, the NR ISAs ended 15/12 and the Halifax ones started 16/12, We were amazed!

Our transfer forms were handed in 27/11, and we received 20 days "Promise" interest added to the transferred amount on the 16th, though it did take until after New Year for that to show up.

The have since adjusted your Promise interest to take in to account fixed rate interest paid elsewhere ... you got in just in time!