Halifax ISA Direct Reward - limited "online" access

mhw_2

Just thought I'd post a warning for others about what "online" access to the Halifax ISA Direct Reward account actually consists of. Here's what it appears you can do online:

• Open your account
• Look at the balance and recent transactions

That's it. The ISA is listed in the online banking system as 'ENQUIRY ONLY SERVICE'. If you have other accounts with Halifax that you can access through online banking, you will not be able to transfer money from them into the ISA through online banking. I also suspect that you will not be able to transfer money out of the ISA online as well - I can't be sure as I haven't yet managed to put any money into my ISA!

I have money sitting in a Halifax account that I want to use to fund my ISA, and it looks like I either need to move the money out of the Halifax and back again, or go to a branch or phone them.

I think it's a bit misleading for MSE to describe this as an 'Online' account. It would be more helpful if the MSE product summaries could distinguish between a more complete online servicing offering and something like this which is more restricted.

-Mark.

glider3560

You can transfer money in online using the Transfer, Direct Debits and Standing Orders option from the left (on the old online banking). Just set up a new payee with the ISA account details.

emeraldbugle

Interesting as page 8 of this says Access: by telephone or online (transfer money between your accounts)

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

So how do I have access to my money? Phone?

Deleriad

I find this surprising. I set up a Direct Reward 3 in January and have transferred money into it, online, from my reward current account. This was using the new online system so it's possible that:

Reward 4 is not yet fully live online;
you have some specific issue about your online banking set up;
I got lucky.

I still have my ISA Direct Reward 3 showing online (went into branch to redesignate it yesterday) and that is still showing a big blue transfer button.

mhw_2

You can transfer money in online using the Transfer, Direct Debits and Standing Orders option from the left (on the old online banking). Just set up a new payee with the ISA account details.

I've tried that; it's set the payment details up correctly, converting the roll number into the correct sort code and account number, but it rejects the transfer saying:

We are sorry, we are unable to complete your request. This could be because:

• You are trying to transfer the whole balance from a savings account. You must leave a balance in the account.
• The receiving account is closed or not set up to receive credits online.
• The receiving account details are invalid.

Please check the amount of transfer and the details of the receiving account.

I get this with any transfer amount, ruling out the first option; the account details were filled in by the system, ruling out the last one. Seems my ISA (opened online on Monday) isn't set up to receive payments. Is anyone else able to transfer money into a recently opened ISA Direct Reward 4 through online banking?

-Mark.

jen245

Ive just re-designated mine from Reward 3 to Reward 4 (now showing as Reward 4), and have been able to transfer some money from my Reward current account into my ISA no problem. You might want to give them a call to see whats going on

BurntOut

mhw wrote: »

Just thought I'd post a warning for others about what "online" access to the Halifax ISA Direct Reward account actually consists of. Here's what it appears you can do online:

• Open your account
• Look at the balance and recent transactions

That's it. The ISA is listed in the online banking system as 'ENQUIRY ONLY SERVICE'. If you have other accounts with Halifax that you can access through online banking, you will not be able to transfer money from them into the ISA through online banking. I also suspect that you will not be able to transfer money out of the ISA online as well - I can't be sure as I haven't yet managed to put any money into my ISA!

I have money sitting in a Halifax account that I want to use to fund my ISA, and it looks like I either need to move the money out of the Halifax and back again, or go to a branch or phone them.

I think it's a bit misleading for MSE to describe this as an 'Online' account. It would be more helpful if the MSE product summaries could distinguish between a more complete online servicing offering and something like this which is more restricted.

-Mark.

Mark, if yousr is saying ENQUIRY ONLY SERVICE, it means you still have to do something, eg, show ID in Branch or return a signed app form, the ISA is FULL easy access online and you can tfx from it to your other accs.

jennifernil

Yes, you are being too impatient. It does take a little while till the account is up and running.

Mine has full on-line access. Took about 8 days I seem to remember.

emeraldbugle

BurntOut wrote: »

Mark, if yousr is saying ENQUIRY ONLY SERVICE, it means you still have to do something, eg, show ID in Branch or return a signed app form, the ISA is FULL easy access online and you can tfx from it to your other accs.

Do you think it could be because I haven't credited any 'new' money? All I have done is a transfer from Santander, which has credited the account.

I've not been asked for ID, or have an application to sign, yet I do have a current account with Halifax. Only time will tell........

StephenM_2

As Jennifernil said, it just takes a while for it to get fully up an running. Mine took a week or so after the funds I'd transferred from my previous ISA appeared in my Halifax ISA. During that time it said ENQUIRY ONLY SERVICE, but its fine now.

opinions4u

emeraldbugle wrote: »

Do you think it could be because I haven't credited any 'new' money? All I have done is a transfer from Santander, which has credited the account.

I've not been asked for ID, or have an application to sign, yet I do have a current account with Halifax. Only time will tell........

Although a phone call would almost certainly reduce the amount of time for you to find out what's happening.