Halifax Web Saver Reward 2.8%-3.0%

talexuser

yes, that's normal, isas have another sort code too

opinions4u

Nath4n wrote: »

Thanks for this - just opened one.
The sort code is different from all my other Halifax accounts (which are the same). Is this normal?

I'd expect it to be 11-18-11 or 11-18-12 for a Web Saver account.

Nath4n

talexuser wrote: »

yes, that's normal, isas have another sort code too

My ISA is actually the same sort code as the rest
Cheers opinions4u, it's the former. This will nicely replace the annoying 48hour transfer requests of the Guaranteed saver reward!

atypical

opinions4u wrote: »

Otherwise you'd lose the 0.2%.

You lose the 0.2% loyalty bonus if you close the account early?

opinions4u

atypical wrote: »

You lose the 0.2% loyalty bonus if you close the account early?

Correct. If the account doesn't remain open for a full year they don't pay the loyalty bonus.

Linky

Offer conditions.
Additional 0.20% AER/gross pa fixed for 12 months, calculated and paid separately after the end of the 12 month period in respect of each qualifying variable rate savings account held with us.

If you've closed the account then you don't have anywhere for them to pay the additional interest to.

VT82

I've moved most of my banking over to Halifax in the last year. They really do some cracking deals don't they?

One question - I'm going to leave my savings in Lloyds Vantage accounts until the end of June, and will then need a '3%' home for them. I know it will still be 3% in the Vantage accounts, but only with hassle. It would be convenient for the new home to be Halifax. Do you think I should open it now, funding it when the Vantage craps out, and not get the full 12 month's benefit before switching again, or should I leave it closer to the time to see what is on offer?

Consumerist

VT82 wrote: »

. . . Do you think I should open it now, funding it when the Vantage craps out, and not get the full 12 month's benefit before switching again, or should I leave it closer to the time to see what is on offer?

According to the Halifax website :-

For a limited time only, we're offering Web Saver Reward. An online savings account with a great variable rate of 2.80% AER for 12 months with unlimited withdrawals.

It's really a question of how long you think it my be available and whether you're willing to risk it. If something better come along you can always move (all but £1 of) it again.

A bird in the hand . . .

Old_Wrinkly

Am I missing something, or will this new account make a whole heap of other Halifax savings accounts totally redundant? Is that the intention?

opinions4u

Old_Wrinkly wrote: »

Am I missing something, or will this new account make a whole heap of other Halifax savings accounts totally redundant? Is that the intention?

It's a fair question.

For some customers it will. Web Saver Extra, Guaranteed Saver for example - those accounts mean nothing to me now! Any online savvy customer will look at Web Saver Extra and Web Saver Reward and may think it's an easy choice. That said, Web Saver Extra is a "clean" rate and whereas as Reward only has 12 months of a potentially decent interest rate - so there's an appeal to different types of customer.

Many customers won't manage their money online - the want branch, ATM or telephone access. So Web Saver Reward means nothing to them.

It's a limited offer - so most customers won't jump on board. So their existing accounts aren't redundant.

It seems like a fair range for the easy access market:

3.0% Web Saver Reward internet account which drops like a stone after 12 months.

2.7% Web Saver Extra interenet account which limits withdrawals but maintains value longer term.

2.2% Guaranteed Saver Reward account with ATM card that allows branch / telephone access.

0.3% Liquid Gold for those who want a passbook.

VT82 wrote: »

One question - I'm going to leave my savings in Lloyds Vantage accounts until the end of June, and will then need a '3%' home for them. I know it will still be 3% in the Vantage accounts, but only with hassle. It would be convenient for the new home to be Halifax. Do you think I should open it now, funding it when the Vantage craps out, and not get the full 12 month's benefit before switching again, or should I leave it closer to the time to see what is on offer?

You may as well stick £1 in to the Web Saver Reward ready. But wait until the 4% Vantage deal is right at the end before moving the bulk of the money. I'd also keep an eye on Lloyds TSB savings deals around the time - logic suggests that they will want to keep their Vantage money, but at a lower price than 4%. It will be interesting to see what they determine that price to be.

johnmoney05

I opened my web saver reward account yesterday. It shows now the interest rate of 2.8%. Wondering whether you savers are the same? Maybe the additional 0.20% only calculated and paid separately after the end of the 12 month period and will not show on account?