Halifax Junior Cash ISA paying 6%

anselld

The Halifax website couldn't be much clearer ...

6% "If the adult registered contact holds a Halifax cash ISA
And for children 16 and over"

"The Relationship Interest will also apply to all Junior Cash ISAs where the child is 16 or over whether or not the Registered Contact has a qualifying Halifax cash ISA."

kalsha

For the last hour I have been ringing different branches to see how they interpret it and it is 50/50. I don't think they even know! Now I'm not sure what to do? The support team on 08457263646 said that adult must have an ISA in order for her to get 6%.

anselld

Here also ...
http://www.halifax.co.uk/savings/accounts/branch-accounts/#juniorcashisa

"For children 16 and over, the relationship interest rate will automatically apply to the account"

On the grounds that 50% of the people you have spoken to must be wrong, I would just go with the advertised terms. Print them off in case of any future complaint (you will know for sure when interest is paid 5th Apr).

kalsha

Just another thought - when they talk about adult registered contact and relationship interest, they only mention "adult" not parents. Would an elder brother count. I have just remembered that her older brother who doesn't live with us, has just opened an ISA with them. Does that count as relation or will they just laugh at me - I could fish out other uncles and aunts!!! Not sure if it matters as he has a different address.

anselld

kalsha wrote: »

Just another thought - when they talk about adult registered contact and relationship interest, they only mention "adult" not parents. Would an elder brother count. I have just remembered that her older brother who doesn't live with us, has just opened an ISA with them. Does that count as relation or will they just laugh at me - I could fish out other uncles and aunts!!! Not sure if it matters as he has a different address.

For 16+ there does not need to be another adult contact. The child/ adult/ registered contact are all one-and-the-same person. In fact they can open it on their own and still get 6%.

kalsha

anselld wrote: »

For 16+ there does not need to be another adult contact. The child/ adult/ registered contact are all one-and-the-same person. In fact they can open it on their own and still get 6%.

Anselld, how can I convince my branch that? You seem to be very sure about that - has yours come through OK? I am hoping to go and see them tomorrow in person rather then trying to sort it on the phone. Did you do yours online? And have you had the confirmation that 6% is going to be applied to your daughter's ac. Sorry for all the questions. Your help is greatly appreciated.

anselld

kalsha wrote: »

Anselld, how can I convince my branch that? You seem to be very sure about that - has yours come through OK? I am hoping to go and see them tomorrow in person rather then trying to sort it on the phone. Did you do yours online? And have you had the confirmation that 6% is going to be applied to your daughter's ac. Sorry for all the questions. Your help is greatly appreciated.

I went into branch with her. The assistant confirmed the 6% and also that my details not needed as she is 17. They needed just her NI number, no other ID as she is already a customer. Very helpful in branch, we were in and out in 15 mins with a printed letter of confirmation. The chap in branch had some internal online memos he was referring to for confirmation of terms etc (as it is a new account).

This is a branch only account so you cannot apply online. Probably for the same reason you will get the best answer in person with the relevant expert in branch. I suspect the call centre staff do not yet know how this account works.

I am generally confident, but only two slight concerns...
(1) It is not clear exactly how "manage account in branch" works. You cannot see account online and all she has is the letter with sort and account number, no passbook or anything.
(2) Can't actually see the interest till 5th apr, however that is not long to wait. Worst that can happen is it is 3% so not the end of the world, however both web and branch ( in my case) are clear so I am not that worried.

pinkdalek

A child aged 16/17 gets the higher interest rate irrespective of parent/guardian having an existing Cash ISA relationship with the Halifax.

Anyone under 16 will receive the higher rate provided the introducing parent/guardian already holds an existing Cash ISA.

The account can only be opened in branch, suggest you book an appointment.

Simples

kalsha

Anselld, One last question if you don't mind - which branch did you open your account at? thanks

martinm1

kalsha wrote: »

Anselld, how can I convince my branch that? You seem to be very sure about that - has yours come through OK? I am hoping to go and see them tomorrow in person rather then trying to sort it on the phone. Did you do yours online? And have you had the confirmation that 6% is going to be applied to your daughter's ac. Sorry for all the questions. Your help is greatly appreciated.

You dont need to convince your branch it is quite clear in the terms and conditions of the account. 16 or 17 yo will get 6% as well as if parents have an hfax isa computers will do the calculation automatically. You will have to make an appointment as only certain staff are authorised by the fsa. Hfax have now moved onto the lloyds computer system so address and photo id will be required even if you and your children already h ave acounts.

The junior isa is not visible online, as it is a branch based acc.

Does anybody know why the account is not on the best buy on mse site?