Halifax ISA 3.00% AER now available.

stanmoor

Hey, I transferred my ISA yesterday from Direct Saver 3 to direct saver 4. Any idea on how long it takes? When I log in now it still says Direct Saver 3 under account details.

lisyloo

I called on Sunday 13th.
Mine was updated today (9 days) and for one day went to "ISA saver".

christinejp

I did mine on the 28th Feb in a branch and nothing has yet happened. I have rung them and mine is supposedly still in the queue, because there is a backlog. Madness, and no logic to it!

jennifernil

opinions4u wrote: »

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

Yes, I noticed that, shame!

At least one can still be sure of not actually losing any interest, last time we transferred we lost out on 5 weeks. Fortunately it was only 1 year of contributions.

jennifernil

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.

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.

You really do not want them to backdate it, according to what we were told, your year runs from when the funds are received, so backdating would mean the good rate ended earlier.

As said, you will get "Promise" interest from when your form was received, as long as the funds were available to transfer immediately. Otherwise you will get it from when any notice or fixed rate period ended.

junglejungle

I hope someone can help me.

I am considering the Halifax ISA Direct Reward for myself and a number of family members.

We have all used our full ISA allowance for 2010/1 and want to transfer this and previous years ISAs to a single account (each). We may or may not wish to fund the isa in 2011/2. None of us hold, or wish to hold any other accounts with Halifax. My family are not keen on having to visit a branch, and would prefer to keep phone communications to a minimum.

My questions are:

1) Can we deposit funds in 2011/2 by online transfer from our current accounts (held with other banks)?
2) If we want to withdraw funds to our current accounts (held with other banks) can we do this online or by letter?
3) If, at a later date after the end of the 12 month reward period, we want to transfer all funds to another provider via the usual transfer process, will the money still be tax free?

I ask questions 1 and 2, because the information on the website seems to be a bit vague about accounts with other banks and procedures for deposits and withdrawals.

Question 3 is as a result of wording in the terms and conditions which states "You can, however, transfer your ISA to a different ISA provider at any time. This will count as a withdrawal." See page 26, sorry I can't post link.

Final question - what kind of ID docs are needed for new customers?

Sorry for so many questions & thanks in advance.

ISA_Man

I have transferred from Santander to Halifax. I posted my transfer application off on the 13/03/11, received a letter from the Halifax transfer team dated the 16th on the 17th saying that my funds would receive interest from the 16th. The funds now appear online dated the 22nd (ISA Direct Reward 4 Enquiry Only Service). I assume this gets amended to the 16th at some point?

One thing that does seem odd is that the funds are recorded as a 'Bank Credit' and there is an amount left to invest equal to the additional funds over £5,100 in the account. Is this normal?

drlabman

ISA_Man wrote: »

I have transferred from Santander to Halifax. I posted my transfer application off on the 13/03/11, received a letter from the Halifax transfer team dated the 16th on the 17th saying that my funds would receive interest from the 16th. The funds now appear online dated the 22nd (ISA Direct Reward 4 Enquiry Only Service). I assume this gets amended to the 16th at some point?

One thing that does seem odd is that the funds are recorded as a 'Bank Credit' and there is an amount left to invest equal to the additional funds over £5,100 in the account. Is this normal?

Give it a few days and it will sort itself out automagically.

10_66

ISA_Man wrote: »

I have transferred from Santander to Halifax. I posted my transfer application off on the 13/03/11, received a letter from the Halifax transfer team dated the 16th on the 17th saying that my funds would receive interest from the 16th. The funds now appear online dated the 22nd (ISA Direct Reward 4 Enquiry Only Service). I assume this gets amended to the 16th at some point?

One thing that does seem odd is that the funds are recorded as a 'Bank Credit' and there is an amount left to invest equal to the additional funds over £5,100 in the account. Is this normal?

Have a look at the posts below, that were in answer to a similar query that I made earlier in this thread.

opinions4u wrote: »

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

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.

Svenena

I note that part of the ISA promise is that they will keep you informed while switching your ISA to them. What form does this usually take? I handed in my transfer form at a branch a week ago (15th March) and haven't heard anything yet, although I appreciate it hasn't been long. Should I expect a confirmation letter or something at some point or do you only get that if you post the form? I'm not sure a 'thanks' when I handed it in constitutes a confirmation, and presumably if they send a letter, it provides more information?