Halifax ripping children off

Nickfrog

Meeper wrote: »

Is it impossible to apply for this particular product through their website?

No, branch only.

jennifernil

The 6% account is now called a "Kids Regular Saver", and if you want to complain about something you could consider the fact that a child can now only have one account, previously any number of people....grans, dads, aunties etc.....could open one for the same child.

And those who live in Scotland should be aware that they will have to travel to a branch in England (or Wales or Northern Ireland) to open a new account, thus effectively preventing them having this account.

All Halifax branches in Scotland have been re-branded as Bank of Scotland and can only open BOS accounts. They can still service Halifax accounts.

sheslookinhot

Nickfrog wrote: »

The product has a 12-month term with an automatic roll-over whereby it's started again automatically every year without any intervention on the cusotmer's part. This has been the case for 6 years.

I had this account for a few years, a few years ago, and it was NEVER an automatic roll over.

Chell

sheslookinhot wrote: »

I had this account for a few years, a few years ago, and it was NEVER an automatic roll over.

My three children all have the regualr savers, one since 2003. Theirs roll over automatically (or did). I pay into the accounts by direct debit, after a year the money is transfered to a standard savings account. Then it automatically starts again. Back in 2003 they gave 10% interest.

Thanks to the OP for pointing this out. They letters often make little sense. I'll wait for our letters then pop to the branch.

Meeper

You could have been to the branch and opened the account in the time you have been on this forum complaining about it.

jennifernil

sheslookinhot wrote: »

I had this account for a few years, a few years ago, and it was NEVER an automatic roll over.

I have had these accounts for our grandchildren since 2006, and they have always rolled over, mine last rolled over in March and April this year, but not any longer.

And now I cannot even easily go to a branch to start new ones when these run out.

My husband had ones for the grandchildren too, his just matured, so he cannot open accounts for them any more as our nearest branch is now 91 miles away in Carlisle.

Previously I had my own RS, and it too always rolled over.

opinions4u

sheslookinhot wrote: »

I had this account for a few years, a few years ago, and it was NEVER an automatic roll over.

If you set up the standing order for a fixed 12 payments, it won't have rolled over (or it would, but would have been automatically closed with a nil balance after another month).

If it was an open ended standing order it would have rolled over automatically.

bendix

In related news, I have categorical proof that Halifax not only rip children off, but if they go into branches unattended, they are usually kidnapped and made into soup so that evil bankers get even fatter.

crittertog

Meeper wrote: »

You have no case, or cause for complaint.

As far as the FOS is concerned, the OP has no grounds for a complaint, yes. However, I believe they do have grounds for a "whinge" - Halifax don't seem to be offering good customer service here. For example, they could after all include a form that amounts to "please renew my account, with the same set-up as before", in the same manner as some banks/building societies do with maturing bonds. I'm assuming that there is a benefit to them from having them money (I know 6% is a high rate, but it would be equivalent to a 3% 1 year bond for the same amount due to the "averaging" effect of regular payments, so maybe they're able to do something with it..?).

Sometimes going to the local branch is not an option (maybe there isn't one within reasonable travelling distance, maybe you're physically unable to get there, or like me, work the same hours as the branch!). Similarly, looking on their web site may not be an option - affordable broadband is not available everywhere (if you live "in the sticks" like me, it may be a case of having to have expensive mobile broadband, or if you're unlucky, having no option for it at all), and not everyone has a computer (especially the older generation). Admittedly, the last point isn't the case for the OP, but it is for some ... Not everyone has the same opportunities as you

Meeper

Went into a branch to open it in the first place though.....

Regardless, as you rightly say, she has the right to a whinge. So, whinge over, thread complete, there is nothing worthwhile left to do here. Not that there was in the first place.

Moving on.