Halifax Childrens regular saver HELP

alex1982_2

hi, we had recently recieved a letter from halifax saying that our daughters childrens regular saver account(paying 6.00% AER) was coming to and end and it would automatically switch to an young savers account (2.00% AER). The letter stated that if we wish to take up the offer of a kids regular saver account we would get 6.00% AER. phew

We had made an arrangement today to see the halifax where my partner was told that the Kids regular saver was no longer available (despite it still being on the website and on the letter we had recieved 6 weeks back) and that they would split the money (£840) up into a young savers account (£40) at 2.00% AER and the rest into a fixed savings account (£800) at 5years fixed at 4.00%. my partner just went along with what they were saying, until i had come home.

Is this right the kids regular saver no longer exists?

would i right in saying that we've been had over by halifax?

my partner was also told that we cannot close the fixed savings account without penalties? i thought you were allowed 14days cooling off period, is this right?


please can anybody help me before i go mental at halifax tomorrow.

Thanks

HoneyAndLemon

alex1982 wrote: »

hi, we had recently recieved a letter from halifax saying that our daughters childrens regular saver account(paying 6.00% AER) was coming to and end and it would automatically switch to an young savers account (2.00% AER). The letter stated that if we wish to take up the offer of a kids regular saver account we would get 6.00% AER. phew

We had made an arrangement today to see the halifax where my partner was told that the Kids regular saver was no longer available (despite it still being on the website and on the letter we had recieved 6 weeks back) and that they would split the money (£840) up into a young savers account (£40) at 2.00% AER and the rest into a fixed savings account (£800) at 5years fixed at 4.00%. my partner just went along with what they were saying, until i had come home.

Is this right the kids regular saver no longer exists?

would i right in saying that we've been had over by halifax?

my partner was also told that we cannot close the fixed savings account without penalties? i thought you were allowed 14days cooling off period, is this right?


please can anybody help me before i go mental at halifax tomorrow.

Thanks

It is still available..:think: Bit confused as to why he would have been told otherwise. The branch get diddly squat in sales points for ANY kids account, fixed or not, so there would be no motive behind them saying that.

Are you sure your husband didn't get the wrong end of the stick somehow?

alex1982_2

Thanks for the quick reply, it was my wife that had gone in:p. but yes she 100% on them saying it was no longer available, i feel that shes maybe been coerced into these other options, but why i do not know. i'm hoping that when i go there 1st thing tomorrow i can reverse what has been done.

HoneyAndLemon

I get what you're saying but there is no advantage to them forcing her to get the kids fixed saver, the branch won't benefit from it either way.

Hope you get it sorted in the morning

opinions4u

1. The Kids Regular Saver still exists.

2. You still need a different home for the £840. The accounts suggested make sense.

3. Fixed rate accounts (with the exception of ISAs) do not have to have a cooling off period.

Was Junior ISA discussed as an option?

would i right in saying that we've been had over by halifax?

No. Because the cash has been placed in to appropriate accounts.

But I think you may have had a lazy staff member who couldn't be bothered going the extra mile to open the regular saver as well.

Before going in all guns blazing, establish what the branch say happened. It's possible that they said the money can't remain in the existing account as a Kids Regular Saver and your partner misunderstood this.