Halifax fixed rate cash ISA - what happens after term?

newfoundglory

Does anyone know what happens to a fixed-rate cash ISA at Halifax after it "matures"...? Does it become an instant access isa?

exel1966

Unless you tell them in advance it will become a variable rate ISA Saver.

As per T&C's ;-

https://www.halifax.co.uk/savings/forms/generic_sav_app/forms/pdfs/1_336202-9.pdf

Kazza242

newfoundglory wrote: »

Does anyone know what happens to a fixed-rate cash ISA at Halifax after it "matures"...? Does it become an instant access isa?

Around one month before it matures, Halifax send a letter out to the customer informing them of the maturity value of the ISA (i.e. they inform you how much you ISA will be worth once interest has been added). On this letter they list a number of options on maturity e.g. convert into an ISA Saver Direct (5.30%), roll into another fixed rate ISA (term 1, 2, 3 or 4 years) or do nothing.

If you don't complete the maturity instruction and return the letter before the ISA matures, they convert it into a ISA Saver paying dismal tiered rates from 3.95% to 4.55%.