Halifax Web Saver Reward 2.8%-3.0%

System

LooieENG wrote: »

I have a 2.2% Guaranteed Saver account at the moment, and I try to put about 500-1000 in there each month when I get paid, then when I get paid the month after I move it all to my ISA (so if I do need some money I don't have to take it out of my ISA)

By doing this, will I even make any money?

If so, do I just close it and open a Variable Saver account, or leave it open with £1 in it?

Anyone know about this? I don't think I worded it very well...

basically, I will probably be able to put the full 5,340 into my ISA this year (3.2% with Halifax) but no more than that in savings

Should I just have my current account and pay everything into the ISA, or a savings account as well and keep like 1,000 in it at all times? I have £3800 in my ISA from last year which I could withdraw at any time I suppose

jennifernil

Any money you withdraw from your ISA cannot be replaced. If you take out some of last years money you can still deposit up to the £5340 this year, but you cannot relace the money you withdrew.

I think it is a good idea to have an easily accessible "emergency fund" of say £1000 - £2000 for unexpected things, I have opened a Websaver Reward 2.8% for this as it is instant access. If I have more spare money I will start paying it into my ISA.

As 2.8% is more than 2.2%, it seems to me that your emergency funds would be better in that account. If you need to use some of these funds, top them up to your desired level as soon as possible, and only then put any surplus into your ISA.

Have you transferred your £3800 from last year into your Isa Reward? There is no need to keep each year separate.

As the ISA Reward is instant access, should a BIG emergency arise, you can of course withdraw from it.

Consumerist

Post #110 may also have some bearing on your decision

opinions4u wrote: »

I would. Leave the Guaranteed Saver open with £1 in if you qualify for the 0.2% loyalty bonus. That way you also keep the option of ATM card and branch access if needed.

deutsch

i've just opened a web saver reward. during the application, it stated that i had to choose no towards a cashcard (which i did) to get the account. now opened, how do i verify i am getting the 2.8% and not the "variable rate web saver" which is a very small 0.25%. no where does it state the account type within the online banking.

td_007

deutsch wrote: »

i've just opened a web saver reward. during the application, it stated that i had to choose no towards a cashcard (which i did) to get the account. now opened, how do i verify i am getting the 2.8% and not the "variable rate web saver" which is a very small 0.25%. no where does it state the account type within the online banking.

On your online accounts page under the account name you have the option to "view interest rate and account details" which will should say 2.8%...

bowlesbargain

I opened a Reward Account in October. At the same time i opened a Webb saver and understood i was getting 2.8%. I put a large amount of money in. This week I decided I wanted to transfer some money into National saving. I then saw i was getting 0.20%. I am sure I selected the correct account in October.
I have now opened another Webb saver that is showing 2.8%. I appear to have lost a lot of money if I only got 0.20% from October.

glider3560

bowlesbargain wrote: »

I opened a Reward Account in October. At the same time i opened a Webb saver and understood i was getting 2.8%. I put a large amount of money in. This week I decided I wanted to transfer some money into National saving. I then saw i was getting 0.20%. I am sure I selected the correct account in October.
I have now opened another Webb saver that is showing 2.8%. I appear to have lost a lot of money if I only got 0.20% from October.

If you think you did everything correctly, put in a complaint (in writing) to Halifax.

opinions4u

deutsch wrote: »

i've just opened a web saver reward. during the application, it stated that i had to choose no towards a cashcard (which i did) to get the account. now opened, how do i verify i am getting the 2.8% and not the "variable rate web saver" which is a very small 0.25%. no where does it state the account type within the online banking.

In 3 or 4 days you will be able to see the rate online. It won't show immediately.

bowlesbargain wrote: »

I opened a Reward Account in October. At the same time i opened a Webb saver and understood i was getting 2.8%. I put a large amount of money in. This week I decided I wanted to transfer some money into National saving. I then saw i was getting 0.20%. I am sure I selected the correct account in October.

In October, they had Web Saver Extra (rate somewhere around the 2.7% mark, now down to 2.5%) which allows only one penalty free withdrawal a year and Web Saver with card alongside Web Saver without card. The latter two accounts pay modest interest rates.

I have now opened another Webb saver that is showing 2.8%. I appear to have lost a lot of money if I only got 0.20% from October.

If you've opened the October account online, there is a responsibility on you to select the correct account. While you could complain, Halifax aren't at fault. If this latest withdrawal is the first one, then you might get them to agree to backdate your account to a Web Saver Extra which would recalculate a higher rate of interest for you. But I don't think there's any obligation on them to do this.

deutsch

also can i transfer the £1000 in and out from the web saver reward into the reward current account so i can get the £5 per month or will this have to be an external account?

opinions4u

deutsch wrote: »

also can i transfer the £1000 in and out from the web saver reward into the reward current account so i can get the £5 per month or will this have to be an external account?

A marvellous way to bank a fiver - yes you can.

Less than a minute should sort it!