Halifax ISA Direct Reward extra .2% question

amictus

I opened an ISA3 in November last year and transferred to an ISA4 when that became available in March. I have just received notification that my 12 months 0.2% reward has expired. I was hoping the 12 months would be as of March along with my ISA4 transfer, but I guess this is not the case. Can anyone confirm this?

Also, I don't think the the 0.2% reward will be available when my ISA4 expires in March. From what I can see, the next best is the Halifax Web Saver at 2.6%, which is quite a step down from 3.0-3.2%. Can I get anything better from Halifax or should I be looking elsewhere?


Thanks!

carpy

i have the Direct ISA and a Web Saver Reward that i believe should be getting the extra 0.2%.

however, i've never received any letter confirming this nor when i speak to anyone at halifax can they confirm this....

all they say if if you meet the terms you 'should' get it!!!! doesn't fill me with confidence...

in fact only this morning spoke to a customer services girl who phoned me and she tried telling me my Web Saver isn't a 'reward' account when i know it is!!!

i honestly don't think even their staff understand this complicated 'rewards' stuff!!!

:@(

jen245

Right, I'm really confused now. I opened an ISA reward 3 on 29th December last year, then re-designated to a Reward 4 at the end on 28th Feb this year, so if they are paying the 0.2% 12 months from the first deposit (which is the same day I opened the Reward 3), does that mean I won't get the 0.2% from the 29th December to the end of Feb, when I re-designated? I was under the impression a new 12 month period started from then. And is all interest being paid on 5th April?

jennifernil

When we changed from ISA3 to ISA4 I was also told that a new 12 month Reward period would start. I did doubt this, but did expect the Reward period to be 12 months from first deposit on 16th December, not from account opening.

I have had no letter yet, will be interesting to see what mine says!

Adammmmm

Bit of a random question, but does anyone know where within your online Halifax accounts you are able to find the date that the ISA will mature upon? I have the ISA Saver Direct.
I can't remeber exactly when I upgraded onto the new rate, so i thought I would take a quick look within my account to see, and was quite suprised that the info wasn't obviously displayed anywhere

jennifernil

I think you will need to consult the paperwork you got when you moved to the new account, there is nothing on-line.

tipsychick

@ Adammmmm, when you upgraded/re-designated the ISA, the Halifax should have sent you a new certificate of investment, which has the maturity date on it. I think 28/2/11 was the first date the ISA Direct Reward 4 was available and so if you took it out then, it will mature on 28/2/12.

miller

tipsychick wrote: »

@ Adammmmm, when you upgraded/re-designated the ISA, the Halifax should have sent you a new certificate of investment, which has the maturity date on it. I think 28/2/11 was the first date the ISA Direct Reward 4 was available and so if you took it out then, it will mature on 28/2/12.

This tallies with mine - I remember it was a Monday when I rang them up on day one of its release.

udydudy

I and my OH had applied for our first Direct reward around a year back, not sure of exact date at the moment will update that once I get home, we got a letter informing us the 0.2% would be added to our account with a date and amount.

So i guess every body would get that letter as their one year completes. Only problem is now I have to sit and calculate the 0.2% interest as Halifax have been sly in not converting accounts form one type to another directly. i.e. our fuixed ISAs matured last year and though we had informed in advance that we would like to transfer on maturity to the Direct reward they first let the interest lapse to0.1% (standard ISA) for nearly a week or two before the Direct Reward details showed up.

They did say the interest would be calculated from the date of maturity but I would not trust a bank espcecially when they do this. We are surely moving all our ISAs away from Halifax after nearly 6 year swith them as I hate banks which try to pull a fast one and hope the customer does not realize

10_66

Does anyone know for sure which date Halifax use as the anniversary date? There are 3 options and I think it's option 1, but am not sure.

Option 1) Date funds are received into account (14 March)
Option 2) Date account opened (5 March)
Option 3) Date transfer form received by Halifax (9 March)