Halifax Web Saver Reward 2.8%-3.0%

bloss0m

Dont see why not I do that with Halifax ISA into reward account and then back again same day so get 3.02% plus £5 per month

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?

glider3560

bloss0m wrote: »

Dont see why not I do that with Halifax ISA into reward account and then back again same day so get 3.02% plus £5 per month

Because you'll have used your ISA allowance after 5 months...

bloss0m

why I am only putting money in I took out do they count old money? In any way I dont have much new money to add but like clarification do they count old money you already had in

glider3560 wrote: »

Because you'll have used your ISA allowance after 5 months...

EDIT oh I see didnt know you cant

Q. What if I want to take my money out?

A. You can take your money out at any time, without losing any tax benefits you have already built up. However, some ISAs may run for a fixed period or require notice of withdrawal and you may lose some interest or a bonus if you withdraw early. In some cases, there may also be a penalty if you surrender an ISA life insurance policy early. With stocks and shares or life insurance, you may not get back all the money you put in, particularly if you withdraw during the early years of an investment.
If you take money out, any that you put back later will count against your ISA annual subscription limit in the year that you re-invest your money.

http://www.hmrc.gov.uk/isa/faqs.htm#17

bowlesbargain

opinions4u wrote: »

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

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.

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.

I am sure I selected the correct account. I remember that I could only make 4 withdraws per year and even with the money taken out last week I had only made two withdraws. I accept I have responsibilities. But I feel Halifax changed the account after I opened it.
The whole reason for my post was to alert other people to check the rate they are being paid.

Thanks all the same

rb10

bowlesbargain wrote: »

But I feel Halifax changed the account after I opened it.

No chance. The application process for all web saver accounts is fully automated - no human being other than yourself is involved at any stage of the account opening process.

This is why it's so important to check, double-check and triple-check any financial product that you are applying for.

A lesson learnt, but at least you realised now and are getting 3% on it now (although it only shows 2.8% online, the additional 0.2% is calculated at the end of the year if you meet the conditions). It could have been a lot worse.

opinions4u

bowlesbargain wrote: »

I am sure I selected the correct account. I remember that I could only make 4 withdraws per year and even with the money taken out last week I had only made two withdraws. I accept I have responsibilities. But I feel Halifax changed the account after I opened it.

I'm not aware of any Halifax account with that restriction being on sale in October 2010.

Bank of Scotland had an IASA Reward account around then which can be viewed online with Halifax accounts.

The last Web Saver Reward accounts with 4 withdrawals came off sale in 2009.

597money

Does anyone know if you are an existing customer whether you have to go through the whole sending off / taking ID to the branch when you open a new account online using the Existing Customer link?

Although I have been a Halifax customer for years the last account I opened requested ID and locked me out of all my Savings and Share Dealing account until the ID was processed.

jem16

597money wrote: »

Does anyone know if you are an existing customer whether you have to go through the whole sending off / taking ID to the branch when you open a new account online using the Existing Customer link?

Although I have been a Halifax customer for years the last account I opened requested ID and locked me out of all my Savings and Share Dealing account until the ID was processed.

Mine didn't.

I was able to open it and transfer money right away.

Consumerist

I didn't have any problems either. I suspect much will depend on whether your ID can be established electronically (e.g. from the electoral roll). Unless your circumstances have recently changed (e.g. moved) then I would guess that no further ID would be required.

If your previous application was the first since the introduction of the new money-laundering regulations, that may have been the reason for the additional ID requirement at that time.

rb10

597money wrote: »

Does anyone know if you are an existing customer whether you have to go through the whole sending off / taking ID to the branch when you open a new account online using the Existing Customer link?

Although I have been a Halifax customer for years the last account I opened requested ID and locked me out of all my Savings and Share Dealing account until the ID was processed.

The chances of you having to provide ID are very slim if you are an existing customer.

Provided that your ID from previous accounts that you have opened is held on the system (which it will be if the account was opened relatively recently) then you shouldn't need to provide anything extra.