Halifax Children's Regular Saver - maturity

emeraldbugle

I've had these accounts since they were first 10% and now 6% and each year the balance would be transferred to a save4it account. (I then moved that money elsewhere.)

However I would just start paying into the same regular saver account for the new year.

My maturity date has always been 1st July.

Today I received a letter telling me that the 'Regular Saver' will become a 'Young Saver', with a rate of 2.00%. BUT if I reapply with the attached form, and enter the same sort code and bank account number then I keep the same 6.00% rate.

Why all this hassle? Probably to try and catch a few people out. :mad:

So please check your accounts on maturity and make sure you reapply for the regular saver.

marsbar989

I had to go into the branch and get them to reapply the regular saving part of the account back to the account.
IE: the account was a regular saver. At the end of the 12months it turned into a young saver at 2%. I transferred ALL of this money out of the account and they converted the account back into a regular saver. So the account/sort code for the SO stayed the same as before.

Unless I went in the account it would have been just a young savers account at 2% with my SO going into it.

opinions4u

emeraldbugle wrote: »

I've had these accounts since they were first 10% and now 6% and each year the balance would be transferred to a save4it account. (I then moved that money elsewhere.)

However I would just start paying into the same regular saver account for the new year.

My maturity date has always been 1st July.

Today I received a letter telling me that the 'Regular Saver' will become a 'Young Saver', with a rate of 2.00%. BUT if I reapply with the attached form, and enter the same sort code and bank account number then I keep the same 6.00% rate.

Why all this hassle? Probably to try and catch a few people out. :mad:

So please check your accounts on maturity and make sure you reapply for the regular saver.

Halifax moved over to Lloyds TSB systems last year. The new systems couldn't cope with the way Halifax had previously operated the account.

Not an attempt to "catch a few people out".

Indeed, the capital saved now sits in an account paying nearly double what it used to pay.

emeraldbugle

opinions4u wrote: »

Indeed, the capital saved now sits in an account paying nearly double what it used to pay.

True but still a poor rate though

What happens to the old Save4it accounts? Wonder if I can convert them to Young Savers.......