Are Halifax Cash ISAs Fraudulent?

Perelandra

opinions4u wrote: »

I find you guilt of contempt though. Treating your valuable savings with a contempt that they don't deserve. Use a diary. Use an electronic reminder. Read your mail. Spend 5 minutes a quarter checking your current rate and comparing it to the best in the market.

Use savingschampion.co.uk?

Although I realise that I've probably recommended this site far too many times, so much so that people might start to think I work for 'em. I don't, I swear!

innovate

Perelandra wrote: »

Use savingschampion.co.uk?

Their reminder service is ok if you have a bog-standard saving with one of the high-street names. They don't cover many Building Societies.

Since most people probably have less than a handful of savings accounts, surely making a note in a diary (paper or electronic) is an option? Same easy way as you remember birthdays, anniversaries, dental appointments etc etc

Pretty shocking how some people work really hard to build up their savings, and then they don't look after them.

evenasus

Not guilty.

cos_2

I have several Halifax accounts. Online, I can view them. Great. With one or two I can click 'see more account information' and the current interest rate appears. Easy, simple and transparent.

With fixed (from one to five years) rate savings, it doesn't appear.

Now, why would that be . . .

I'm going for the slightly unusual Scottish verdict -

Not proven.

jimjames

AmIBeingRobbed wrote: »

All the current Halifax adverts for cash ISAs all offer a specific interest rate for the first 12 months and make no mention of the interest after 12 months.

I might be after the 12 but still not guilty.

If the current info still says it changes after 12 months then isn't that even more reason for YOU to check after that time rather than blaming the bank? As a shareholder in HBOS I think it is good they are trying to maximise their profits so they can repay our money.

Hooloovoo

Funny how on every single forum on the internet the OP never comes back when the thread doesn't go the way they expected. [:rotfl:]

cos_2

Hooloovoo wrote: »

Funny how on every single forum on the internet the OP never comes back when the thread doesn't go the way they expected. [:rotfl:]

That's why I never start a thread! :beer:

Andystriker

Hooloovoo wrote: »

Funny how on every single forum on the internet the OP never comes back when the thread doesn't go the way they expected. [:rotfl:]

They will have to pay the costs of the defence after bringing this action.:)

I'm a Not Guilty as well, although I suppose I must be an alternate juror by now.



All my savings accounts apart from my current account have a date in my diary for when I need to act on them.

For example, I can tell I have two ISA's at Nationwide expiring on 31st March 2013. I have a Flexclusive ISA where the bonus rate ends on 31st October 2013. I have a Derbyshire Net Saver where the bonus rate ends on 30th November 2012.

The onus is on me to keep a record and it took me 2 minutes to do.

And I did it because I Know what will happen if I leave it.

opinions4u

cos wrote: »

I have several Halifax accounts. Online, I can view them. Great. With one or two I can click 'see more account information' and the current interest rate appears. Easy, simple and transparent.

With fixed (from one to five years) rate savings, it doesn't appear.

Now, why would that be . . .

They do appear for me on my solitary fixed rate account.

I know their systems are struggling somewhat with one or two oddities from given the BoS and Halifax brands an apparent independence from each other.

That said, I still have an IASA account with 1p left in it and an 80 sort code so perhaps I should be affected too.

I'm going for the slightly unusual Scottish verdict -

Not proven.

I once had a discussion with a Scotsman about that verdict. I told him I thought it was a great idea. He spent half an hour explaining why I was wrong and how it should be scrapped! If it ain't proven, it's innocent.

pqrdef

"Not proven" would imply some doubt about the facts, but the facts are clear enough. Introductory rates were invented, and are still used, not only by Halifax, with the aim that money will be attracted by the headline rate and will then be left to fester at low rates.

In other words, it's a deliberate trap. So clearly they aren't going to put up a banner saying "trap". They're going to camouflage it as well as they can get away with. And camouflage is deception, and deception is the essence of fraud.

A point clearly lost on many posters is that if you deceive, it's not an excuse if you also tell the truth. So appealing to the small print cuts no ice.

The ethics of setting traps for unwary customers are debatable, but those who do it can't seriously expect to disclaim all responsibility on the grounds that some customers are wary enough to avoid the trap.

And if the banks choose to design their products on the basis that most of their customers are muppets, they can hardly complain if people don't like bankers.