Halifax direct reward ISA

MoneySavingUser

when funds are transferred they put them into a variable rate account

a few days after the transfer it is redesignated to a reward account - so wait a few days before worrying

roxy28

jcb208 wrote: »

Just transfered funds into a halifax isa direct account from santander and the rate of interest is showing as 0.5% not 3%.Is this normal and will it change as dont really want to get on the phone to them.Thanks

Read my earlier post 18 and it still shows 0.5%

opinions4u

roxy28 wrote: »

Read my earlier post 18 and it still shows 0.5%

Should be fixed by now.

I'd suggest you give them a nudge.

Old_Wrinkly

mollycat wrote: »

Hi.
Just so im clear, can i use the above link to transfer from Direct ISA Reward 3 (2.8 %) to the Direct Reward 4 (3%)?

Thank you

Since no-one has as yet (rather oddly) responded to your post,
the answer to your question is YES.

mollycat

Old_Wrinkly wrote: »

Since no-one has as yet (rather oddly) responded to your post,
the answer to your question is YES.

Thought so, cheers!

roxy28

opinions4u wrote: »

Should be fixed by now.

I'd suggest you give them a nudge.

Hey presto all showing correct now,crystal ball?

DragonQ

It's now been 2 months since I converted my Direct Reward 3 into a Direct Reward 4 and it's still showing as Direct Reward 3 (2.8%).

I've called them 3 times already, each time they've just said that it's due to heavy demand and that the interest would be back-dated to when I first converted the account so it didn't really matter. I'm a bit sceptical about this, especially since I won't even know what interest rate I'm really getting until I get the interest payment next year. In the most recent call (about 2 weeks ago) I was told I'd been put on a "fast track" or something to get it done quickly. This is really stupid as I've seen others say that they were converted within a day or two.

Anything I can do that would get this done other than calling them again? Maybe writing to them (this worked with Lloyds TSB)?

The_Enforcer

I opened both a ISA Direct Reward and Web Saver Reward over the weekend.

The former is still showing as "ISA Saver", but I'm OK with that at the moment as I'm funding that with an ISA transfer from NatWest - form to be delivered to local branch tomorrow.

I had difficulty in funding the latter - you're supposed to get at least £1 in there the same day as opening to qualify for the higher rate. After problems with the initial payment to my Halifax Reward Current Account with a faster payment from First Direct, I decided to send the FD payment to the HRCA and transfer it from the HRCA to the HWSR. Unfortunately, online banking wasn't having any of this and came up with some error that prohibited the transfer. I even called Halifax 24-hour online banking team and asked them to authorise the transfer on my behalf and that hadn't gone through several hours later.

It appears that their newly opened/funded accounts seem to do some sort of 3am update. There was no sign of the £1 by next morning, but the online transfer button had decided to cooperate by then and the transfer went through instantly. The authorised transfer also eventually appeared mid-afternoon about 24 hours after being requested. Still no idea whether I am getting the 'correct rate', because the "+ view interest rate and account details" link does not react to being clicked on. Maybe it will after another 3am update?

I can tolerate a few initial gremlins, which hopefully will bed down, as seems to have been the case with the HRCA. However, if these problems persist in the longer term and start to result in loss of interest as well as time, like in DragonQ's situation, then I'd be inclined to formally set them a deadline to resolve the issues once and for all, making it clear that failing which the funds will be off to Nationwide (in the case of the ISA) and Santander (in the case of the savings).

rb10

The_Enforcer wrote: »

Still no idea whether I am getting the 'correct rate', because the "+ view interest rate and account details" link does not react to being clicked on. Maybe it will after another 3am update?

I guess this means that you are using Internet Explorer 9?

IE9 doesn't work with lots of websites, so try using a different browser.

The correct interest rate will not show until a day or two after the account has been funded. It'll only ever show 2.8%, since the extra 0.2% is only calculated at the end of the year if you've met the additional current account conditions.

jennifernil

Has anyone transferred in several ISAs at different times to the Halifax Reward one and received all their Promise interest? Did it take long?

We transferred one ISA each in December, that went OK and Promise interest appeared after about 4 weeks (backdated). In March and April we each transferred in another 2 old ISAs, but as of today, no Promise interest has been added though we are both due a few days on each one.

We have been abroad, so unable to chase this up other than by e mail, which only elicited the usual "ring us or visit branch" response..........both of which we had pointed out were not options.

It will be 2 months soon since the final transfers, surely they should have added the interest by now?