Halifax web saver reward

allan2011

I have recently opened a Halifax reward current account and a Halifax web saver reward and transferred everything from my old bank.

All my income goes into the current account and all the DDs come out of the current account and any extra money goes into the savings account.

When I want to pay a bill which has a variable amount such as my credit card, I transfer the money from the web saver account and pay the bill from there, as I could not pay bills from my savings account with my previous bank.

I have just noticed an option in my online banking for bill payments from my web saver reward account.

So for the past few months I have been transferring money from my savings account to my current account to pay bills when I didn't need to.

Am I correct?

And does my web savings account have faster payments or is it just my current account?

opinions4u

Web Saver can pay external bills (or send funds to a bank account elsewhere).

It doesn't have conventional faster payments.

If you opt for the payment to go immediately, it will go via BACS.

If you post date the payment (e.g. using tomorrow's date), it will usually (not always) go via FP.

It is likely to have FP from November this year.

jalexa

allan2011 wrote: »

I have just noticed an option in my online banking for bill payments from my web saver reward account.

So for the past few months I have been transferring money from my savings account to my current account to pay bills when I didn't need to.

Am I correct?

And does my web savings account have faster payments or is it just my current account?

It has been possible for some to set up "bill payments" from websaver accounts (how I get my money out). Until your post I wasn't aware about standing orders and direct debits. That might be new.

When I tried seconds ago, unfortunately Faster Payments were "not possible".

ray123

opinions4u wrote: »

If you post date the payment (e.g. using tomorrow's date), it will usually (not always) go via FP.

Very useful info. What is the daily limit for FP?

pinkdalek

ray123 wrote: »

Very useful info. What is the daily limit for FP?

Generally anything less than £1000 goes as a faster payment. (Unless the receiving sort code cannot accept them eg some credit cards/catalogues) If it says it is unavailable, click back and try resubmitting.

If you want to send say for example £1500, then just process two payments eg. £900 & £600