Halifax Web Saver - Date of Interest Payment

Joey122

Does anyone know when interst on funds actually start to gain interest once you make a transfer -

ie : Transfer 2000 pounds from the current account into Web saver - Does the web saver actually start paying you interest that night or does it take three days to 'process' the transfer.

Joey122

Please reply if you can help/

Smiley_Mum

Wouldn't it tell you on the interest info section of the website?

If it is a transfer from another Halifax account, then I would imagine you would get interest as soon as you did the transfer, not three days later. Any other bank and I think you'd have to wait for clearance etc.

Just having a look in a Bank account conditions leaflet that I got recently see if I can see anything.

Mikeyorks

It attracts interest from the day the money settles on the Web Saver.

Therefore, as previous post, that will be the day you transfer it if online from a Halifax current account. Or approx 3 working days if you BACS it in from outside Halifax.

Lorian

Joey122 wrote:

Does anyone know when interst on funds actually start to gain interest once you make a transfer -

ie : Transfer 2000 pounds from the current account into Web saver - Does the web saver actually start paying you interest that night or does it take three days to 'process' the transfer.

Transfers from HFX current account to Web savers happen instantly.

Joey122

Yes - They happen instantly - But do they attract interest instantly?

Mikeyorks

As post #4. Yes, if its Halifax current to Halifax Web and you do the transfer online - you get Web interest from that day.

But ... you do not get current account interest on that money in the day of the transfer.

Joey122

Thanks - Thats what I expected