Halifax/Bank of Scotland ISA Saver Direct

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
2 replies 2.5K views
Carolyn12Carolyn12 Forumite
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edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
Hi there,
I transferred to a Halifax/Bank of Scotland ISA Saver Direct (online/phone access- 4 withdrawals allowed) in April 2010. It promised a fixed rate of 2.6% for one year...so still should be 2.6% now, (am I right?).
Now tonight when I log in and check, it now states I have an interest rate of 0.5%, this does not impress me.
I have a nice nest-egg in there, and was hoping for a better interest return after the pitiful one I got in Apr 2010. :(

Does anyone else hold this account? Is there something I missed? I am heading into a branch tomorrow morning to speak to someone.

Many, many thanks in advance.

Replies

  • KonkyWonkyKonkyWonky Forumite
    646 Posts
    Part of the Furniture 500 Posts Combo Breaker
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    Something similair happened to me last year.

    Halifax claimed as I hadn't deposited the funds within 28 days of the account opening they opened a Liquid Gold savings account in lieu of the ISA as stated they will do in the T&C's. This pays a lot lower rate of interest of course.

    As far as I was concerned it was Halifax' responsibility to broker the transfer from a previous years ISA. In time it was sorted out with a little compensation paid but not worth the hassle TBH.
  • rb10rb10 Forumite
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    It sounds as though your anniversary date has already passed ... are you sure it wasn't opened in March 2010?

    Best thing to do would be phone up, find out when it changed to 0.5%, and get them to change it to 3% (or 3.2% if you have a current account) for you.
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