Halifax help // solved after much palaver with them and Lloyds

pawlala

Trying to transfer a sum of money from Reward Current account to Fixed Rate ISA online. However there is no "Make a Transfer" button to allow a transfer from one account to another. Only "Make a Payment", but its not a bill or standing order. Is this possible?

noh

If you have a sort code and account number of the fixed rate ISA you can make a bill payment using those details.

pawlala

Is that by Faster Payments? I ask because my ISA won't accept deposits in this way.

noh

If they are both Halifax accounts then it should be an instant internal transfer.

jennifernil

Payments (to other banks) are only sent as FPs if the receiving account can accept FPs, otherwise they go by BACS.

Between Halifax accounts, you should use the "quick transfer" button at the top of your accounts list page.

noh

jennifernil wrote: »

Payments (to other banks) are only sent as FPs if the receiving account can accept FPs, otherwise they go by BACS.

Between Halifax accounts, you should use the "quick transfer" button at the top of your accounts list page.

There is no quick transfer function available as stated by the OP.
This is because the OP is opening a fixed rate ISA which only accepts a single opening deposit.
The OP needs to make a bill payment from their Reward current account to the ISA account using the sort code and account number provided.
Because they are both Halifax accounts the transfer should be instant (it may not show up online until the next day)

sjb2016

I had a similar issue when trying to fund my Halifax ISA. When I set the account up online, I was offered the opportunity to transfer money directly from my current account (Bank of Scotland/Halifax), but I didn't have the money in my current account at the time. No problem, I'll just transfer it later I thought. Um, no. I could see the ISA in my online banking, but couldn't transfer any money, tried setting up a DD and SO just to try. Nothing worked.

In the meantime, my First Direct account opened, so I transferred £1 into that then transferred that to the ISA (obviously using the ISA sort code and account number). This worked as the ISA opening letter said I could transfer money in over the counter, via a cheque or from another bank. Once I did the £1 transfer to activate the acount, the instant transfer options became available and I transferred the money directly from my BoS current account to the ISA Hope that helps.

pinkdalek

If you have already opened the fixed rate ISA with a lump sum then you are not able to make additional payments or top-ups to that ISA due to it being a fixed rate bond.

If it is the opening credit, you might need to telephone them on 0845 602 0000 (online help) or call in a branch.

Mikeyorks

sjb2016 wrote: »

Hope that helps.

Not really. Because if you transfer £1 to a Halifax Fixed Rate ISA (which only accepts a single deposit) then you've just blown the rest of your ISA allowance for the year. As you can't pay in the rest nor can you put it into another ISA.

As post #6 ....... you do it via 'bill payment' or, more sensibly, you fund it via the opening application. And Halifax will take the funds from the account you nominate.

Don't know if it's still an issue - as I never open new cash ISAs these days - but time was when you could have endless problems getting funds into a Halifax ISA from one of their joint accounts. Which is why the maturity dates on my own and OHs maturing ISAs with Halifax tend to be several days apart. Despite they were opened and - allegedly - funded from our joint account within minutes of each other.

pawlala

After much palaver I've managed to transfer 5k100 to my Halifax ISA from Halifax current acct. Tried and failed using the Billing method twice using my online banking, only for my account to be suspended pending an enquiry. After a couple of phone calls to transfer the money using telephone banking instead and then getting my online account reinstated, all is good. So *eventually*, thanks Halifax.

No thanks to Lloyds TSB, who after 4 days of messing about "lost" my authorised payment of 5k100 to my Halifax ISA which I had originally transacted over the phone on Sunday. Today Thursday it still hadn't left Lloyds so I told them to cancel whatever it was they were doing, as it would be "much quicker for me to drive the 30 miles to my nearest Halifax branch and write them out a cheque."

Never thought it would be so difficult to move money into an ISA!!

thanks for the advice and response, folks