Halifax Saver Prize Draw - is it worth it?

2010

opinions4u wrote: »

The £100k and £1k winners are fewer in number. Do you expect them to rush to MSE's forum every time?

I would expect to have heard somewhere that quite a few £100k prizes had been won.
I would have thought it would be good publicity for the Halifax to announce them, even if they only said "Mr X from Newcastle" won the June £100k.

Maybe we will hear about their £250k winners.

http://www.halifax.co.uk/savings/savers-prize-draw/

2010

opinions4u wrote: »

It's been that rate for 4 days short of a year.

What makes you think they'll change it?

Watch this space.;)

tight_is_right

Unless you've got a really good alternative I think it's worth it. With 5k you'll only lose out on £5 per 0.1% difference with a different account. For an instant access account you'll do well to be £15 better off.

It's not like you're going to win, but you're not going to win the lottery either and people still play that. It also gives you a little moment of excitement each time Halifax send you some unwanted spam

innovate

opinions4u wrote: »

Their three year FRISA looks strong in a falling market. Don't think there's anything better than that.

Watch those rashers swoop overhead in formation!

I think the four year is also best buy. The five year isn't a million miles off either.

Their multi-year ISAs OK if you are happy to fix for umpteen years, and/or you haven't already got some stonking deals (that, at the time, beat Halifax easily). Although, fixing an ISA for several years in September would most likely be a bad choice - rates are very likely to be a lot better in March/April. But then, they might not be next year, lol....

Are those formation flying rashers nicely grilled and slimming? I'll have mine with a nice piece of granary toast [with slimming butter] if they are, please ;-)

opinions4u wrote: »

The £100k and £1k winners are fewer in number. Do you expect them to rush to MSE's forum every time?

No, I'm not expecting every single £1,000 and £100K winner to show up on MSE - - but had hoped the occasional one would do. Or even (credible) reports that friend-of-a-friend whose auntie's stepson's uncle's grand-daughter won a grand. But none of that.

Mind you, I don't think we ever had a lottery or Premium Bond winner from that category, either. Not sure what the ratio of players : prices is in all of them, so may be it's not a fair comparison. But fact remains that very few people ever win anything significant. Different story for the organisers of the "bonanza" though...........

2010

londonman81 wrote: »

I'm thinking of putting 5k into a Halifax Online Saver account (2.80%) in order to qualify for the Savers Prize Draw.

Whether you win anything or not, you won`t find a better rate than 2.8% "easy access", but don`t hang around too long or it`ll be gone.

I know it`s variable but they usually let you keep that rate and bring out the same account with a lower rate for new customers.

opinions4u

innovate wrote: »

Their multi-year ISAs OK if you are happy to fix for umpteen years, and/or you haven't already got some stonking deals (that, at the time, beat Halifax easily). Although, fixing an ISA for several years in September would most likely be a bad choice - rates are very likely to be a lot better in March/April. But then, they might not be next year, lol....

The bolded bit is very good advice for anybody fixing an ISA. I got 4.25% for 3 years in April, so it supports your point.

Are those formation flying rashers nicely grilled and slimming? I'll have mine with a nice piece of granary toast [with slimming butter] if they are, please ;-)

I was hoping you were grilling (and cleaning up afterwards).

2010 wrote: »

Whether you win anything or not, you won`t find a better rate than 2.8% "easy access", but don`t hang around too long or it`ll be gone.

Santander 3%? ING 2.90%? I prefer Halifax to both though.

I know it`s variable but they usually let you keep that rate and bring out the same account with a lower rate for new customers.

2.7% of it isn't variable. The bonus is very much a guaranteed minimum rate for 12 months. I prefer this to a "clean" rate that will inevitably get eroded with time.

2010

opinions4u wrote: »

Just opened a new one with £1 on my app thing. Just in case you're right .

Just done the same.;)

innovate

2010 wrote: »

....., you won`t find a better rate than 2.8% "easy access"...

Are you sure? I could find better, and didn't have to try very hard

http://www.money.co.uk/savings-accounts/instant-access-savings.htm

3% Santander, 2.95% Post Office.....a lot better than 2.8%

And several that offer more than 2.8% if your minimum balance is £1K.

If your min balance isn't £1K, you should consider FD/Nationwide/HSBC Regular Savers perhaps.

2010

innovate wrote: »

Are you sure? I could find better, and didn't have to try very hard

Without getting too bogged down in details and not knowing the OP circumstances, the online saver 2.8% (at the moment) is a "clean rate" with no buts or maybes and if he/she is already with the Halifax it can be done instantly.

For O4U and myself it was easy and instant to open, we did it whilst at the same time posting on here.

To get an extra .15 or .2% on the grand sum of £5k with a provider you may not already be with is all too much hassle and time consuming.

WRabbit

And to throw another variable into the equation, it's worth it if that's where your current account is. Even in these days of faster payments and internet banking.

I was caught out a couple of weekends ago, my car had a catastrophic MOT fail on the Saturday, and as I'd intended on replacing it come February plans were brought forward. I had the money but it was in the Post Office or YBS. My current account is B of S. Due to when my MOT expired the changeover of cars had to happen on the Monday.

Monday also happened to be an English bank holiday. So despite doing the transfer online on Saturday night, the money didn't reach my current account till late on the Wednesday. Of course this is within the faster payments limits but was a bit inconvenient. Fortunately I had money I could use, but its taught me the lesson if losing a little interest versus having enough cash immediately available for an emergency.