HALIFAX REGULAR SAVER - ripped off

ED

Oo er, I believe Judi has written elsewhere on MSE grumbling about A+L's current a/c!

I'm with you, grumbler, enthusiastic about A+L's Online Saver @ 5.35%.

Judi - have you thought of putting as much as possible into Derbyshire Bdg Soc monthly savings a/c (anything between £10 and £1,000 per month)? Currently pays 5.85% and allows one penalty-free withdrawal per 12 months.

System

Your right, i wasnt very enthutiastic over A&L, i certainly wouldnt have trusted them with my Direct Debits and Standing Orders, but i am certain i could have used them as a 'stepping stone'. Pity i closed my account eh?

Ed i will look into the Derbyshire BSS. cheers.

grumbler

Judi wrote:

Pity i closed my account eh?

Pity? I do not think so. Apply again and you can have £6 for online saver only. Read THIS. This is even more than trifling £2 that we discussed above!

ED

Nice one, grumbler! Wish A+L had offered a £6 incentive a few months ago when they sort of set up an Online Saver for me. (Only a month ago did they properly link it with the PP Current a/c!)

Ah well, to be fair I have had the potential of earning 5.35% interest in A+L's OS a/c. (Not much used, though, because 5.50% was offered by Nottingham Bdg Soc, although not with instant access.)

Wonder if Halifax will boost their Web Saver rate beyond 4.90%, now that A+L's Online Saver is becoming serious competition?

Twmble

I know this was a lot earlier in the thread, regarding people not clicking-on that £250 pounds invested each month for a year does not merit the same interest as a £3000 lump sum at the same interest rate.

The Leeds and Holbeck BS has a Savings Calculator:

http://www.leedsandholbeck.co.uk/savings/index.htm

It seems to me they've not clicked on either..........

Try it and see (£250 every month for 1 year at 5% ends up with £3150.....I reckon not! )

Twmble

isasmurf

That is very misleading. But if read the small greyed out print at the bottom it becomes clear. The calculator only calculates interest annually, so it's working out the 12*£250 is 3000 and applying the interest rate.

Twmble

isasmurf wrote:

That is very misleading. But if read the small greyed out print at the bottom it becomes clear. The calculator only calculates interest annually, so it's working out the 12*£250 is 3000 and applying the interest rate.

True, but what's the point of a Savings Calculator (expressly offering monthly options) that doesn't calculate it correctly?

You're right though - very misleading....

T

ED

Twmble - well spotted! Leeds Bdg Soc have always been keen, in my family's experience, to learn from customer criticism of its website. Have you thought of emailing them with your finding?

Paul_Varjak

twmble:

Why not open up a regular save account with them and then complain when you do not get your £150 interest? Problem is, they will have probably 'fixed' their on-line calculator by then so you will have no proof!

Twmble

ED wrote:

Have you thought of emailing them with your finding?

Certainly have - as a grammar curmudgeon I was spurred on by the 'Contact Us Direct' link.......directLY doggnabbit :mad: :rotfl:

T