Halifax Instant Saver

Macca83_2

Which mysterious and elusive bank doesn't reduce their rates after 12 months? Must be the worlds best kept secret.

Ifts

Macca83 wrote: »

Naw they can't redesignate online accounts in branch. Just open a new one, transfer the funds and send a letter requesting closure

Thats what I had to do recently with a Halifax online account, bonus expired so phoned up to see if I can redesignate it to a new online saver, was told on the phone they cannot do that.

Had to open a new online saver, and then had to send a letter requesting closure of the old one.

When speaking to Halifax customer services, when I asked if I could close the old account over the phone, was told I could not because its an online account. I said to the rep ok but why do I have to close it via post if like you say its online only, the Halifax rep agreed it was a bit weird.

Apparently you used to be able to close Halifax accounts online up until they upgraded/merged their systems with Lloyds? If true then hopefully they will re-install the account closure option online again.

Macca83_2

The online helpdesk used to be able to close an online account. There's probably some staff members who can still do it. But i wouldn't fancy your chances of being able to find one.

bowlesbargain

Well thanks for all the help.
I have moved most of the money to Virgin/Northern rock instant access account. Pays 2.6% without a 12 month problem. Halifax has again lost custom. I still have the Halifax account with a £1 in it. They have sent me a letter saying that I had a bonus of £33 as I made no withdraws in a year. The letter was very confusing as it says this will be paid on the next interest payment but the date of this letter was the 12 month anniversary so I will leave £1 in the account for 12 months and see what happens!!

opinions4u

bowlesbargain wrote: »

Well thanks for all the help.
I have moved most of the money to Virgin/Northern rock instant access account. Pays 2.6% without a 12 month problem. Halifax has again lost custom. I still have the Halifax account with a £1 in it. They have sent me a letter saying that I had a bonus of £33 as I made no withdraws in a year. The letter was very confusing as it says this will be paid on the next interest payment but the date of this letter was the 12 month anniversary so I will leave £1 in the account for 12 months and see what happens!!

Of course, Virgin can reduce their 2.6% rate by giving you two months notice.

The Halifax Online Saver rate of 2.8% includes a guaranteed 2.7% bonus. So the absolute minimum rate Halifax can pay on a new account over the next 12 months is already higher than Virgin's current rate.

Another reason to stay with Halifax is their online account opening process. As an existing customer it took me about 20 seconds to open a new Online Saver account as my previous Websaver Reward dropped off the reward rate.

Your call. Personally I'd rather spend 20 seconds a year opening a new account with Halifax than moving to a variable rate account with no rate guarantee beyond 2 months ahead.

Ifts

opinions4u wrote: »

Another reason to stay with Halifax is their online account opening process. As an existing customer it took me about 20 seconds to open a new Online Saver account

Its a shame the same cant be said about being able to close your Halifax account online instead of having to write in to them to have it closed.

opinions4u

Ifts wrote: »

Its a shame the same cant be said about being able to close your Halifax account online instead of having to write in to them to have it closed.

Totally agree.

Used to be able to do it - you click a button and somebody in Newcastle closed it a couple of days later.

Ifts

opinions4u wrote: »

Used to be able to do it - you click a button and somebody in Newcastle closed it a couple of days later.

Heres hoping they will reinstate that option in the near future

On another thread about Halifax accounts (similar issue) you mentioned in #8:

opinions4u wrote: »

they can redesignate a Web Saver account, turning it in to an Online Saver.

Is this done online or over the phone?

Its too late for me this time round, at the time I was told not possible to redesignate Web Saver to Online Saver but maybe that person did not know how to do that. If its possible would like to know how its done for the future pls.

opinions4u

Ifts wrote: »

Heres hoping they will reinstate that option in the near future

On another thread about Halifax accounts (similar issue) you mentioned in #8:



Is this done online or over the phone?

Its too late for me this time round, at the time I was told not possible to redesignate Web Saver to Online Saver but maybe that person did not know how to do that. If its possible would like to know how its done for the future pls.

Apparently phone only. Although another poster said branch can do it.