Web Saver Accounts

CatsEyes55

Hello

I would like some advice on web saver accounts. I opened up a websaver account in April 2011 on the promise of a gross/AER variable rate which included a 12 month fixed bonus. Unfortunately, I didn't make a note of it at the time and all written correspondence from the bank fails to record it. I do remember that it was in the region of 2.5%. I opened the account with £3551 and have regularly saved over the last 12 months so I had over £8000 in the account in April 2012. My total interest for the year was £14.98! Any advice would be greatly appreciated.

Newbie2saving

What bank / bs is the account with? Is websaver the actual name of the account?

CatsEyes55

Hi, It is a Halifax Web Saver

YorkshireBoy

CatsEyes55 wrote: »

...all written correspondence from the bank fails to record it.

The rate would have been/is shown in your online area.

But to your main point...were there conditions attached? For example, did you have to pay £1K per month into a Halifax Reward current account?

ctdctd

Halifax had the standard Websaver account back then with no bonus and a Websaver Reward which had a bonus.

The Websaver Reward was 2.8% for a year + 0.2% bonus for £1000 / month in the current account.

The ordinary Websaver only paid 0.25% interest (Or about £10 a year for a taxpayer and £5000 balance)

HTH

CatsEyes55

Hello

There would have been T&Cs, of course, but there was no requirement at the time to save £1K a month in a current account. I shall have to write to Halifax for an explanation. Many thanks fopr your help.

calypso_rhapsody

I think you will find it was 2.8% if you did not qualify for the extra 0.2% reward ... i have a websaver and was rather miffed that i did not qualify for the reward because my HBoS current account was with BoS private banking (just one of the niggles that has eventually led to me leaving them) rather than standard Halifax or BoS

opinions4u

If you requested an ATM card with the account you didn't get the decent rate.