Halifax ISA 3.00% AER now available.

jennifernil

NOOOOO! Change it ASAP, you get that little extra interest sooner. After April 5th you can add next years allowance to the same account.

jen245

Yes you can, you just won't be able to add any more money to it until the new tax year

apple30

when the account is redesignated, the interest accrued on the previous reward term will not be paid on redesignation. It will all be paid on April 5th.

jennifernil

That sounds more likely. I think the fellow we got was pretty confused!

emeraldbugle

Also have changed mine from Reward 3 to Reward 4.

The chap said the rate was 12 months from the first time it is credited, which must be within 28 days of account opening. Lets hope they get the transfers done quickly.

Anyone any experience of how quick transfers are done? They have closed my previous ISA on 25th Feb, can't wait for it to show up in the new ISA!

blueberrypie

emeraldbugle wrote: »

Also have changed mine from Reward 3 to Reward 4.

The chap said the rate was 12 months from the first time it is credited, which must be within 28 days of account opening. Lets hope they get the transfers done quickly.

That would be correct if it was a transfer, but it's not - you're just redesignating the account. The account number and sort-code stay the same, it's just classified as Reward 4 rather than Reward 3.

So the "rate from first credit" doesn't apply, because the account has already been credited. As I understand it, the new rate will apply for 12 months from the date the account was redesignated - i.e. today (if you did it today).

SallyG

http://www.halifax.co.uk/savings/accounts/cash-isas/isa-direct-reward/?pagetabs=3

"Halifax promises;
1. When you switch your cash ISA to us we will not wait for your current provider, we pay interest from day one of receiving your completed transfer application."
I'm a Halifax savings online customer wanting to switch an ISA from First Direct where I'm a current account holder to the Halifax because First Direct won't allow me to switch my old mean First Direct ISA to a current better ISA deal with First Direct.
It looks as though I have to post an ISA transfer form to the Halifax?
- ie a Halifax savings customer but without a current account wishing to transfer in a non-Halifax ISA must transfer it by post/in a branch - it can't be done online?
Is it because it requires a signature or just to make it harder for non-current account holders - some of whom will struggle to do a not-online transfer?

nrishiraj

I think I have messed something up...

I had a ISA saver saver for a few years, so I opened the new ISA direct reward 3 last week with £1. Yesterday I funded the account with the max of £5100 from the ISA saver. It appears I have two ISA accounts with Halifax online (ISA Saver & ISA direct reward).

Shouldn't of I done that? It's currently showing as 2.8% online, even though I have an ultimate reward a/c.

reliable65

Just done mine , wife will have to go through it all now lol

Bloody hell whats with reading out all the terms etc what a waste of time

Anyhow changed from Direct Reward 3 to Direct Reward 4

They said it will show up as 3% on online banking and that the .2% wont show up but it will be applied in April

BurntOut

nrishiraj wrote: »

I think I have messed something up...

I had a ISA saver saver for a few years, so I opened the new ISA direct reward 3 last week with £1. Yesterday I funded the account with the max of £5100 from the ISA saver. It appears I have two ISA accounts with Halifax online (ISA Saver & ISA direct reward).

Shouldn't of I done that? It's currently showing as 2.8% online, even though I have an ultimate reward a/c.

No you shouldnt have done that, you should of re-designated your Isa Saver to the direct Reward 3 and then added further funds to it, because you have funded the Reward 3 yourself by transfer you've lost out on the ISA funds youd have built up, in that Isa Saver.
The account will only show as 2.8, the extra is only added at the end of the 12months.

Get onto HF today and redes to an Isa Direct Reward 4. Cos you have the Ultimate Reward you'll get 3.2%