Halifax Web Saver Reward 2.8%-3.0%

opinions4u

johnmoney05 wrote: »

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?

As suggested above, the 0.2% isn't paid if the account is closed within 12 months. The web site states the rate shown online won't include the 0.2%.

Linky

As this additional interest is calculated after 12 months, you will see the standard variable interest rate that applies to your savings account when viewing online.

uk1

Just checking! Does everyone else get the bank details immediately or do they get the message:

Thank you for completing your application for a Halifax Web Saver account. Your application has now been submitted and we will contact you within the next 14 days to confirm your account details and inform you of your next steps.

...... or is it just me?

opinions4u

uk1 wrote: »

Just checking! Does everyone else get the bank details immediately or do they get the message:



...... or is it just me?

It's just you!

A small minority of applications fail for some reason. It'll get picked up back office and you will get the account.

uk1

opinions4u wrote: »

It's just you!

A small minority of applications fail for some reason. It'll get picked up back office and you will get the account.

It may be on the "number of accounts" basis ... who knows.

The interesting thing is that for the interest rate to work - you must deposit cash into the account on the day the account is opened. If you don't know what day it opens how can you put cash in it .......

BurntOut

Opened yesterday.........checked today and HAPPY DAYS 2.8% showing.

:beer: Halifax

atypical

opinions4u wrote: »

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

Hadn't realised that, thanks. The site you linked to states:
"The additional interest will be calculated and paid together with your standard interest on your next interest payment date following the 12 month reward period."

I might be being stupid and reading it wrongly, but doesn't that mean they pay the bonus in the 13th month?

Milarky

BurntOut wrote: »

Opened yesterday.........checked today and HAPPY DAYS 2.8% showing.

:beer: Halifax

Mine isn't showing any rate. Are you on the 'new' Halifax website perchance?

Nath4n

Milarky wrote: »

Mine isn't showing any rate. Are you on the 'new' Halifax website perchance?

I'm on the "new" online banking and mine's not showing any rate yet either

info_addict

Just to double check my wife and I were entitled to the extra 0.2% loyalty bonus, we dropped into a branch this morning. The staff had less idea than we did about the account (there's a surprise). They said we'd have to see one of the advisors. When we saw her, she told us she had to register us for the additional bonus - which she did there and then. No selling of other products either, which we thought may be pushed on us.

I pointed out that I hadn't seen this requirement in the T&C's, but she insisted it had to be done and we would get confirmation within 28 days.

Anybody else come across this?

Consumerist

info_addict wrote: »

Anybody else come across this?

The downloaded application form contains the following paragraph on page 2 :-

** Existing qualifying variable rate savings accounts are accounts opened before 4 January 2010. You do not need to complete this form for accounts opened after 4 January 2010. Your higher interest rate will apply to your existing variable rate savings account(s) for 12 months from the date we receive your registration. For any qualifying variable rate savings accounts opened after 4 January 2010, the higher rate of interest will apply for 12 months from the date of your account opening. Your additional interest will be calculated and paid separately after the end of the 12 month period in respect of each qualifying variable rate savings account held with us.

Edit
My interpretation of the use of the form is for new current account customers who already had qualifying savings accounts which did not have the "reward" element when they were opened.