Halifax - Online Saver - Joint

pmjenkins

opinions4u wrote: »

Not a good idea. It has the potential to undermine a fraud claim should there be fraud in the future.

How is this any worse than a fraud claim involving two people explicitly sharing a joint account?

opinions4u

pmjenkins wrote: »

How is this any worse than a fraud claim involving two people explicitly sharing a joint account?

Online banking terms and conditions will prohibit users from sharing their login details with anybody.

If the bank becomes aware of a breach of this while conducting a fraud enquiry they would be quite within their rights, assuming the fraud has been triggered by somebody logging in, to decline the claim.

mgarl10024

Hi,

Thanks for all your comments. A few thoughts:

opinions4u wrote: »

Most of their accounts now allow for a "redesignation" facility from off-bonus to on-bonus. In other words, as your bonus comes to an end you should be able to ring up and say "please put this account on your new bonus rate" and they should be able to flick a switch and make it so.

I didn't know that and was assuming that I'd need to do this every year. Thanks for pointing it out!

pmjenkins wrote: »

If you're only interested in accessing each other's accounts in an emergency why don't you just tell each other your passwords ?
Surely this is a lot simpler. You obviously trust each other or you wouldn't be considering joint accounts.

I have to concur with the other responses to this point. Sharing passwords is against the rules and could weaken any comeback.
We do trust each other - we're exceptionally close in terms of how we manage our money (we know about all of each other's accounts and discuss spending before we do it).
I guess, there's something in me that says if both of our money is in there, then both of our names should be on it.

the_insider wrote: »

Joint party just had to log into their online and click to say that they agreed to T&Cs and bingo, joint account.

opinions4u wrote: »

The joys of the old Halifax system. The Lloyds TSB systems (that Halifax accounts now live on) don't appear to be clever enough to support this novel concept.

I vaguely remember something about this with our older accounts, but the newer ones don't seem to have the option. The lady in Halifax did say that this used to be the case (other half having to log in and accept conditions) however that so few people did it (and then later tried to access the money) that the system no longer supports it. Personally, I suspect it's more that there's a technical reason rather that it being a concious decision, but either way, it isn't there now. The only way to open these joint accounts seems to be for one to open it, then the other to fill in the letterbox-buster form.

hermante wrote: »

Or just split the money evenly and both withdraw the same amount every time you want to spend it.

I suspect this'll be the compromise that we'll reach to be honest. Put some in my name and some in hers.

Thanks again,

MG

opinions4u

The lady in Halifax did say that this used to be the case (other half having to log in and accept conditions) however that so few people did it (and then later tried to access the money) that the system no longer supports it.

It's nothing to do with demand for joint accounts and everything to do with the functionality of the Lloyds TSB systems that new Halifax accounts are opened on.

Nobody has programmed the computer to open new joint accounts. The longwinded forms were designed for a different bank that did things different ways.

kgreen3112

Hi, an adviser in branch should be able to add a party onto an account, regardless of it being online as there is no facility to do this anywhere else at the moment. The only accounts that HO are still trying to find a solution for are Websaver accounts which you were able to open prior to 12th Sep 2011, so as long as your new account is definitely not a Websaver then you can do this in branch. As an adviser in branch myself and adding a party to an online account just last week, they are being unreasonable to send you away and fill in forms. You will need to fill in a form but it is 1 page and takes 2 minutes of their time to do this for you, hope that helps

sweetilemon

kgreen3112 wrote: »

Hi, an adviser in branch should be able to add a party onto an account, regardless of it being online as there is no facility to do this anywhere else at the moment. The only accounts that HO are still trying to find a solution for are Websaver accounts which you were able to open prior to 12th Sep 2011, so as long as your new account is definitely not a Websaver then you can do this in branch. As an adviser in branch myself and adding a party to an online account just last week, they are being unreasonable to send you away and fill in forms. You will need to fill in a form but it is 1 page and takes 2 minutes of their time to do this for you, hope that helps

Wish you were my branch advisor! Been into 3 different branches, all tell me because its an online account i need to do it online. I explain, as far as I am aware, its not possible. All 3 have told me to close the account and re-open in joint names. So furstrating as I am 99% sure there was no option to do so! Cant even find an email address for them anymore. Not that my OH is too bothered but its principle more than anything now. :mad:

opinions4u

sweetilemon wrote: »

Wish you were my branch advisor! Been into 3 different branches, all tell me because its an online account i need to do it online. I explain, as far as I am aware, its not possible. All 3 have told me to close the account and re-open in joint names. So furstrating as I am 99% sure there was no option to do so! Cant even find an email address for them anymore. Not that my OH is too bothered but its principle more than anything now. :mad:

Next time you get that response, insist that they ring their "Procedures Helpline" for assistance.

donny_jim

mgarl10024 wrote: »

Hi,

Just wanted to tell people about a recent (not great) experience with Halifax - just in case it is useful to others. Maybe even someone from Halifax is reading and this process could be altered?

We have 4 savings accounts with Halifax. We have 4, partly chasing better rates, and partly to separate the money so it can be used for different reasons. The most recent 2 are Online Saver accounts (2.8%). To be fair, there isn't a lot in any of them, but it helps us keep organised!

I set these up online, and after a few clicks, all was set up. (Great).

However, I really wanted these accounts in joint names, so that if anything happened to me then it is really easy for my better half to access the money in there. However, when setting them up, the option just wasn't offered.

I phoned Halifax, and they said that the accounts were only in my name, and that I'd need to go to a branch with my better half and her ID. We went in today all armed with ID and the lady handed us a form - "Your application to add a new customer to a Sole/Joint Savings Account" - which is 8 (!) pages long, and even includes sections about employment!

Me: "That's for all 4 accounts - right?"
Halifax lady: "Oh no, you'll need one for each account".

I also explained that the Halifax model seems to be that their savings accounts give great (bonus) rates for a year which then plummet, so signing up for new accounts (and then having to fill in these gigantic forms) would become an annual event.
"'Fraid so" she said.

I then asked if next time I could perhaps open new accounts in a branch, with my better half there, to avoid this process next time around?
"'Fraid not. These are online accounts".
She then proceeded to outline the branch accounts that were on offer, none of which seemed close to the rate on these.

Anyone else think this process is bonkers?

Thanks,

MG

im sorry to hear you had such problems, i or we had a guaranteed saver a/c that matured. we had no problem transfering into two web saver a/c's one in wifes name only the other joint all done on line.
maybe you had a problem as the original a/c was in you name only.
these are nearly a year old now so looking for another good interest rate a/c.
if i stick with H will let you know how i get on.

Sillychuckie

And even once you actually complete the 8 page form and post it off, don't expect them to act on it.
I have posted off 2, and given 1 into a branch.
After 4 months, I gave up and closed the account, since it is impossible adding my other half.

I have an old 'Web Saver Extra', which I think only pays 2.3% now, and also has withdrawal limits per year. Would rather move it to the 2.8% online one.

We chose the wrong bank for joint accounts...

SC.

Precrown

In March and April I opened two new Halifax online savings accounts but weeks later they are still unable to add my wife's name making them into joint accounts.

As their website did not have a way of adding the joint name I called the help line. They said they could only do it by having me complete some forms. After two sets of forms one in the post one actually filled out in the branch there was still no action.

Now after three visits to my local branch and numerious calls to their helpline phone number, also after having my complaint registered with one of their customer advisors all they can say is there is a system error and they have no idea when it can be resolved, and gave me £25 as compensation for the hassle.

As one of the accounts is a fixed 2-year savings account I am reluctant to cancel it and move it to another provider, but I am so fed up with the lack of service I may be forced to.

Has anyone had a joint account set up on a Halifax web-based account recently?