Halifax ISA Direct Reward extra .2% question

Mr_K

Am I missing something here ? Their 1 year fix is offering 2.25% but they also have an instant access isa of 2.6% ?? Rates won't go any lower so seems a bit of a bad time to fix to me (though i can see why Halifax are keen to tie you up to them !)

Think I'd rather keep my options open with instant access in the short term. Have the flexibility to switch to anybody else, any day then (as well as access to the money without penalty if i need it).

talexuser

We've been discussing the 2 year fix at 3.7, which is better than the best ordinary instant you can get now, on the gamble that base rates will be this low for at least another year or more and then take time to rise because the end to low (zero) growth looks nowhere near likely in that timespan with Government borrowing actually increasing all the time.

10_66

Is everyone who has an ISA Direct Reward receiving the letter offering the 2 year fixed ISA? It's not that I particularly want it, it's just that, in view of the fact that I never received a certificate for this ISA and haven't had a letter offering the 2 year "switch" offer, I'm getting a little anxious that I'm not going to get the correct interest. 3% is shown when I log on, and I've complied with the bonus t&cs so I should get the bonus, just don't trust Halifax.

opinions4u

10_66 wrote: »

Is everyone who has an ISA Direct Reward receiving the letter offering the 2 year fixed ISA? It's not that I particularly want it, it's just that, in view of the fact that I never received a certificate for this ISA and haven't had a letter offering the 2 year "switch" offer, I'm getting a little anxious that I'm not going to get the correct interest. 3% is shown when I log on, and I've complied with the bonus t&cs so I should get the bonus, just don't trust Halifax.

I've not had the 3.7% offer.

talexuser

Well I've had a letter saying my 12 months is up on the Direct Reward 4 ISA and the 0.2% will be paid on the next usual interest date - April 5, assuming I keep it that long. The amount is just short of £45 which agrees with my calculations to within some 10s of pennies.

If I transfer to the 2 year fix now, will this £45 be added to the 3% interest up to this date now, or will it be added to the 2 year fix April 5th?

2010

10_66 wrote: »

Is everyone who has an ISA Direct Reward receiving the letter offering the 2 year fixed ISA? It's not that I particularly want it, it's just that, in view of the fact that I never received a certificate for this ISA and haven't had a letter offering the 2 year "switch" offer, I'm getting a little anxious that I'm not going to get the correct interest. 3% is shown when I log on, and I've complied with the bonus t&cs so I should get the bonus, just don't trust Halifax.

Read this thread:

https://forums.moneysavingexpert.com/discussion/3757789

carpy

had a letter saying 12 months is up 21/3/12

but......no mention of the extra 0.2% and no mention of transferring to the fixed rate deal

Mikeyorks

10_66 wrote: »

Is everyone who has an ISA Direct Reward receiving the letter offering the 2 year fixed ISA?

Ours 'mature' 13/3 and 16/3 respectively. We had the '2 year fix' offer latish Jan ..... and took up the offer, via post, a few days later.

It would appear (from other threads) that people with maturity dates into late March / April aren't getting the offer. Which suggests the fixed rate was about to be varied. One post, from Friday, suggests the 3.7% was reduced to 3.5% late afternoon ...... which all ties together. However, at the time of writing the website remains unchanged at 3.7%. So ??

10_66

Mikeyorks wrote: »

Ours 'mature' 13/3 and 16/3 respectively. We had the '2 year fix' offer latish Jan ..... and took up the offer, via post, a few days later...

Ours both mature on 14/3 (if the maturity date is the date funds were first received into the account, as we've never had certificates confirming dates). As you say, the 2 year fixed has now dropped to 3.50%, so looks like my money will going elsewhere on "maturity".


...........

2010

10_66 wrote: »

Ours both mature on 14/3 (if the maturity date is the date funds were first received into the account, as we've never had certificates confirming dates). As you say, the 2 year fixed has now dropped to 3.50%, so looks like my money will going elsewhere on "maturity".
...........

The 2 year fixed has now dropped to 3.5% on their site but the letter my partner received gives her until the 1st March to reply to still get it at 3.7%.
I never received the offer only one telling me to inquire about their other ISA`s as mine ends on 30th APRIL.

On the bottom of my partners letter it says "anyone living in your household with the same account and also wants to transfer can ring 08451221336"

If anyone wants to transfer to the 2 year fixed at 3.7% it still might be worth ringing up to ask even today.