Halifax Online Saver - Interest due date

Hominu

I had a letter through a few weeks ago saying my Online Saver bonus will expire on the 28th of this month, so I assumed I would have the yearly interest paid by today, but nothing as of yet.

Anyone know when the interest is payable? First transaction I can see is 28th November 2011 (a Monday).

Ifts

Hominu wrote: »

so I assumed I would have the yearly interest paid by today, but nothing as of yet.

According to the Halifax Online Saver T&C's:

Interest paid - annually on anniversary of account opening

http://www.halifax.co.uk/savings/accounts/online-saver/ (Additional Information)

The interest hasn't been paid into another one of your accounts? -

We’ll pay interest each year on the anniversary of the date you opened your account. We’ll pay the interest into your account, or you can ask us to pay it into a different account held either with us or with another bank or building society.

http://www.halifax.co.uk/savings/pdf/savings-account-conditions.pdf (Online Saver - Page 7)

Hominu

Thanks, today there was a transaction (deposit) made into my current account, which I am assuming is the interest payment.

What makes me a little nervous however is that it says: 30 NOV 12 <my real name> SO <amount>

I wouldn't expect an interest payment to show up as 'SO'. That sounds more like 'Standing Order', which I'm sure isn't right.

Anyone?

fiesta04

That is normal. Your money is safely deposited in your account.

But is it the correct amount of interest? If it is, all's well.

F4

Ifts

Hominu wrote: »

Thanks, today there was a transaction (deposit) made into my current account, which I am assuming is the interest payment.

This transaction in your Current Account if its got your full name in the payment description then its come from one of your own accounts.

As fiesta04 states check the amount against the interest you should have received and that should tell you if its the Online Saver interest paid into your current account.

Also log into your Halifax Online Saver and there should be a record of the interest paid in the last few days, if yesterdays money hitting your current account is the Online Saver interest payment then this will be recorded as a transaction going out of your Online Saver to your Current Account so will be showing when you log into your Online Saver.

Hominu

I don't know if its the correct amount of interest as its calculated daily and I had a fluctuating balance. I've no idea how to work my balance for each day of the year, so its difficult to calculate the interest.

However, I know my average balance throughout the year and if I base on this and subtract tax, I'm getting about £10 more, so its in the correct ball park.

Just checked my online saver and indeed there are two transaction there, so that confirms it. I must have stated to pay my interest into my current account 12 months ago and the resulting SO to do that confused me! (I expected it to be a transfer/TFR).

So hopefully in 6 months time when my 2nd Online saver matures, I should get another SO without panicking