Halifax Web Saver Reward 2.8%-3.0%

deutsch

help!!! i transfered money from one external account into the reward current account, then from the reward current account into the reward saver. i did this all on the same day as opening both accounts (sunday)

external bank - says transfer went through (and it did on that day!)
reward current - says i'm beyond my overdraft limit!
reward savings - says i'm in credit the same amount i'm in debit on my reward current

will i be charged substantially for going at least 16x my agreed overdraft limit?
i don't think i should, if payment is waiting to be clear. the online banking system should have never allowed me to internally transfer money that was there (from reward current to savings)
and last thing where has my money disappeared to!?
what happened to faster payments?

Baldur

deutsch wrote: »

help!!! i transfered money from one external account into the reward current account, then from the reward current account into the reward saver. i did this all on the same day as opening both accounts (sunday)

This type of problem occurs when you make transactions like this before a minimum of £100 has been deposited in the new Reward account for 24 hours (or at least overnight).

I deposited £1,000 and transferred it straight back out just after opening my first Reward account, the FPs went in & out successfully but subsequently showed as a -£1000 balance in the Reward account.

A phone call to internet banking sorted it out after a few hours.

deutsch

Baldur wrote: »

This type of problem occurs when you make transactions like this before a minimum of £100 has been deposited in the new Reward account for 24 hours (or at least overnight).

I deposited £1,000 and transferred it straight back out just after opening my first Reward account, the FPs went in & out successfully but subsequently showed as a -£1000 balance in the Reward account.

A phone call to internet banking sorted it out after a few hours.

i phoned halifax. my funds have disappeared and they couldn't help, advising me to contact my bank and trace it!

savemoney

I opened an account web saver reward and instantly deposited £10 from an existing reward account the one where you get £5 per month if you deposit 1k. Account shows up online with other accounts I have. I will use this account later to fund my reward account and back in to get 3% interest at end of the year I joined

Consumerist

savemoney wrote: »

I opened an account web saver reward and instantly deposited £10 from an existing reward account the one where you get £5 per month if you deposit 1k. Account shows up online with other accounts I have. I will use this account later to fund my reward account and back in to get 3% interest at end of the year I joined

Having both savings and current account with the same provider does help you keep down the average balance on the current account; by feeding it from the savings account as needed. I've been doing this since having the Web Saver Reward account. It is convenient but only saves a few pounds over the year.

rb10

deutsch wrote: »

i phoned halifax. my funds have disappeared and they couldn't help, advising me to contact my bank and trace it!

Just wait a couple of days and it'll sort itself out automatically.

deutsch

rb10 wrote: »

Just wait a couple of days and it'll sort itself out automatically.

how long is a couple of days?

- account opened 21/05
- money transfered via fast payments from external bank 22/05 to reward current
- money transfered to web saver reward from reward current
- money disappeared since 23/05
- reward current overdraft by same amount as the web saver which credit
- phoned halifax to be told to transfer the in credit savings back to reward and credit £1 so it leaves a balance of £0.
- today is 28/05 and the money is still not there!

tippytipps

Hi, If I already have Reward Current account (getting the £5 every month by funding £1000 pm) and have recently opened a Web Saver Reward, can I get the 0.2% bonus? Or do I need to fund my Current account with £1000 pm, or do I not qualify at all?

opinions4u

tippytipps wrote: »

Hi, If I already have Reward Current account (getting the £5 every month by funding £1000 pm) and have recently opened a Web Saver Reward, can I get the 0.2% bonus? Or do I need to fund my Current account with £1000 pm, or do I not qualify at all?

You'll get 2.80% plus 1/12th of 0.2% for each month that you fund the current account with a grand.

Consumerist

opinions4u wrote: »

You'll get 2.80% plus 1/12th of 0.2% for each month that you fund the current account with a fiver.

Shouldn't that be for each month that you fund the current account with £1,000 (to get the fiver reward).