Halifax re-invested ISA

Coconut07

A fixed rate ISA with Halifax matured in February and I was offered a fixed rate of 4.3% if re-investing for 4 years. I immediately completed the paper work and sent it off. When the confirmation was received (after maturity date) the rate was 4.1%. They are now offering 4.35% to investors. According to the Halifax the rate dipped for a few days around the date that my ISA matured. As a banking cynic could this be because the maturing ISA was the one of a large number maturing after 2 years fixed and by lowering the rate after the maturity letters went out Halifax saved a great deal of money.:(

Vortigern

Get on the phone and complain. They may well offer something better. No use complaining on here.

Coconut07

I have complained, very loudly, now I'm just trying to let others know. Halifax will not do anything about it.

Jock_Tight

I had a Halifax 2 year fixed ISA mature in February, considered returning the paperwork but decided to hold off and see if rates improved, and they did!

Waited till a couple of days before maturing and contacted Halifax to switch over.