New Halifax fixed rate ISA question

veryintrigued

Hi there

Managed to open one of these last week when the rate was 3.7% (now reduced to 3.5%). I've read through the T&Cs but its not clear to me if I can do all three of these actions:

1 - Transfer the full 2011/ 2012 allowance from another ISA supplier. This part should be fine as there are no restrictions on the present ISA.

2 - Transfer another ISA (i.e. a non 2011/12) into this Halifax ISA. Again no restrictions on the current ISA.

3 - On 7th April transfer full 2012/13 allowance into this new Halifax ISA.

My concern is that only one ISA transfer form seems to be included and the T&Cs. I've asked Halifax these questions on a cover letter but would be interested what your views are please on this product?

Thanks in advance

jennifernil

You cannot deposit the 12/13 allowance before 6th April.

Otherwise you can make more than one transfer in, transfer forms can be printed off their website. You have 60 days from opening for your transfers to arrive from my reading of our paperwork.

veryintrigued

jennifernil wrote: »

You cannot deposit the 12/13 allowance before 6th April.

Otherwise you can make more than one transfer in, transfer forms can be printed off their website. You have 60 days from opening for your transfers to arrive from my reading of our paperwork.

Thanks for the confirmation - typo on my behalf on the date I did mean the 7th April rather than Feb - oops! Have changed this now on the OP.

Thanks again

Jock_Tight

3 - On 7th April transfer full 2012/13 allowance into this new Halifax ISA

You would need to open a new ISA after 6th April for the 12/13 allowance.

jennifernil

veryintrigued wrote: »

Thanks for the confirmation - typo on my behalf on the date I did mean the 7th April rather than Feb - oops! Have changed this now on the OP.

Thanks again

I doubt you will be able to add your 12/13 allowance, you might be beyond the 60 days allowed, though that only mentions transfers in. Generally you can only make one deposit directly into a FRISA, usually on opening. Best check with Halifax.

You can of course open a new FRISA for 12/13.

veryintrigued

Halifax have confirmed that I can perform all three of these steps and have actaully performed the first two already.

I now need to ensure I can get the funds for 12/13 on the 6th of April (the deadline they have imposed from my fund opening).

Regards

ANGLICANPAT

Hmm, theyre allowing you to put your 12/13 into the new 2.70% 2yr ISA ? One of us needs to double check then, as Ive been on to them in the last hour setting up my own 2yr 2.70% ISA ( I know its 2.50% now but Id already had the offer from them in a promotion) and have been told categorically that I will definitely NOT be allowed to put my 12/13 ISA into it although I can transfer other non fixed other providers past ISAS into it -as well as immediately transfer my Halifax reward 4 isa I have with them already even though it doesnt finishe till 1st March. Ive just done the latter - hope they dont sneakily penalize me in any way after encouraging me to move it immediately .

Has anyone else been told they can have a 12/13 added?

2010

ANGLICANPAT wrote: »

Hmm, theyre allowing you to put your 12/13 into the new 2.70% 2yr ISA ? One of us needs to double check then, as Ive been on to them in the last hour setting up my own 2yr 2.70% ISA ( I know its 2.50% now but Id already had the offer from them in a promotion)

I assume this is a typo and you really mean 3.7%

veryintrigued

ANGLICANPAT wrote: »

Hmm, theyre allowing you to put your 12/13 into the new 2.70% 2yr ISA ? One of us needs to double check then, as Ive been on to them in the last hour setting up my own 2yr 2.70% ISA ( I know its 2.50% now but Id already had the offer from them in a promotion) and have been told categorically that I will definitely NOT be allowed to put my 12/13 ISA into it although I can transfer other non fixed other providers past ISAS into it -as well as immediately transfer my Halifax reward 4 isa I have with them already even though it doesnt finishe till 1st March. Ive just done the latter - hope they dont sneakily penalize me in any way after encouraging me to move it immediately .

Has anyone else been told they can have a 12/13 added?

Hi there - coincidentally I phoned the Halifax today to ask about the best mechanism to fund this new ISA for the 2012/13 allowance when the time comes.

Guess what...they advised I can't even though I have a letter saying I can and even though they have transferred both ISA across and I have daftly put in a notice request for the 2012/13 amount on a further account.

I'm maybe daft but I asked this specific question to them (in writing) and got a letter back confirming I could do the third step above. I even asked them not to perform either transfer if this 2012/13 step couldnt be done.

Frustrating doesnt come close.....a letter is already being typed up the vent my fury!!

ANGLICANPAT

Indeed 2010 ! It should have read 3.70% A slip of the tired brain rather than the finger , but a mistake all the same , thanks for flagging it up.:D

'veryintrigued' -- I feel your frustration!!! The antics of Halifax dont surprise me a bit though. OH and I have had endless unbelievably bad customer service issues with them in the past including them telling us that the application that OH had handed in for a previous 2yr fix isa had been wrongly processed by them as a 1 yr but 'sorry nothing could be done about it because you cant undo isas !' . It took close to a year and 4 treesworth of mind numbing communication with them to get it put right! Im just hoping todays telephone opening of the new 2yr account goes smoothly , but Im not holding my breath.

I agree with others though, this is a comparatively attractive account, which is why I grin and bear Halifax's endless incompetance - they do bring up good deals at times.