Halifax ISA Direct Reward extra .2% question

jennifernil

If you transfer out of Halifax altogether now, you will get ALL the interest added when the account is closed on transfer. We had this confirmed in branch just recently. So no need to leave £1 if your Reward period has ended.

We have had several different stories regarding the extra 0.2%.........that it would run from first deposit, that a new 12 month Reward period would start when we transferred from ISA 3 to ISA 4........but in fact we only got it from account opening. And the account balance was zero for over 3 weeks till our transfer in arrived.

We complained about this and the wrong info in branch the other day, today we got a call promising £25 compensation each for the hassle.

abarthman

jennifernil wrote: »

If you transfer out of Halifax altogether now, you will get ALL the interest added when the account is closed on transfer. We had this confirmed in branch just recently. So no need to leave £1 if your Reward period has ended.

Thanks for that.

jen245

I've just switched to one of Halifax's fixed rates, and got all my interest added, but if I had stayed with the Direct Reward 4, the letter I got suggests that all interest will be paid in one payment in April, but if you transfer out of Halifax completely, as Jennifernil said, you will get all your interest paid up till the date of transfer.
The 0.2% reward is only paid from account opening for 12 months, although I was also led to believe something different! So if your Reward period is over, you can move your money out, without having to leave a £1 in there.

carpy

i haven't had a letter so i guess that's not a good sign???

are the letters only in relation to ISA's or any account eligible for the 0.2% reward?

abarthman

jen245 wrote: »

I've just switched to one of Halifax's fixed rates, and got all my interest added, but if I had stayed with the Direct Reward 4, the letter I got suggests that all interest will be paid in one payment in April, but if you transfer out of Halifax completely, as Jennifernil said, you will get all your interest paid up till the date of transfer.

Thanks for that.

MoneySaverLog

opinions4u wrote: »

At least we might win £100k with the prize draw thing!

Has anyone on here won the big one?

jennifernil

We have transferred £15k each to a 2 year fix with Bank of Scotland, can't fix everything as we need access to the cash. The rest of mine I think will go to Nationwide's Easy Access ISA that pays 3.1% on £25k+.

Still to decide on where to put the rest of OH's as he does not have enough for Nationwide. Think we will wait till the ISA 4 rate ends and see what is on offer then.

2010

Here is a new twist to the .2% bonus saga and I`d like opinions on how I stand.
I have a cash ISA Reward which matures on 30/4/2012, which then reverts to a Saver Direct which pays 0.5%.
Today I received a letter confirming all this but it then goes on to offer a transfer to their 2 year fixed cash ISA paying 3.7%.
The way it`s worded this can be done more or less straight away and I have to let them know by 1st March by returning the form.

Here is the extract from their letter:
"There`s no need to wait for your reward period to end - we`ll simply transfer the balance and any interest you`ve earned to your new account and you`ll start earning the new higher rate"

OK, after checking 2 year fixed ISA rates, it`s not a bad deal, but what happens regards the .2% reward bonus?

carpy

anyone else not heard anything yet about their 0.2% reward accounts?

Catslovelycats

Not me carpy. I've had letter about .2% bonus on savings accounts but not ISA. Still...