Halifax Regular Saver - confused

pboae

My Halifax regular saver came up on 26th April, the money was swept into a Halifax web saver account. On the statement it says I can leave the standing order going for another year and carry on getting 7%. But I only set the standing order up for 1 year. The last payment went in on March 26th.

Does that mean I am too late now to carry on paying, as I have missed a month?

If not can I set a SO from my Web Saver or do I have to move it elsewhere first?

Compound_2

Perhaps you should close the regular saver, then open a new one.

Careful_ly

The regular saver gets closed automatically if you don't continue to make the payments at the end of the year. They will send you a letter shortly to tell you the account is closed. You can then open another one, who knows they might release a higher fixed rate product if the interest rate rises as expected next week, as the 7% rate has not changed for a couple of years.

HTH

Milarky

I use a Halifax current account, with nothing in it, to pay the Regular Saver SO - and this is fed from the Web saver (the nominated a/c) on the same day. The account continues into a new year with no further action on my part and I am coming to my third anniversary/fourth opening cycle. One could ask Halifax, I suppose, for any higher fixed rate given to new accounts in the near future - but being a big bank they'll probably be unhelpful, and require you to close/open the account. We shall see, but I don't think this easy-to-operate account will see any interest rate rise from 7%

In theory standing orders direct from Web saver to Regular Saver are possible (i.e. people have reported setting them up) but I couldn't find a way of requesting this online - hence the current a/c option

pboae

Thanks all :-) I'll open a new account and see if I can do an SO direct this time.

mau408

'I use a Halifax current account, with nothing in it, to pay the Regular Saver SO - and this is fed from the Web saver (the nominated a/c) on the same day. '
(Milarky)

Milarky Have you considered leaving £2500 in the current account and setting a SO to put £1000 into the current account and back to the websaver so as to qualify for the Hi Interest Rate 6.17% which is about 1.17% higher than the websaver on the first £2500.
The drip feeding of the regular saver which you are already doing can then be done on top of this.

Milarky

mau408 wrote: »

Milarky Have you considered leaving £2500 in the current account and setting a SO to put £1000 into the current account and back to the websaver so as to qualify for the Hi Interest Rate 6.17% which is about 1.17% higher than the websaver on the first £2500.
The drip feeding of the regular saver which you are already doing can then be done on top of this.

The £1000 has to come from a non-Halifax source as I understand it. Number two, I'm not sure I'd get the 6.17% rate as I'm an existing customer. (It is worth looking into, though. Thanks for the suggestion)

Kazza242

Milarky wrote: »

I'm not sure I'd get the 6.17% rate as I'm an existing customer. (It is worth looking into, though.

You don't have to be a new customer to apply for the 6.17% current account. As an existing customer you can just apply for an upgrade. One of my family members, who was an existing customer, did this recently and was accepted.

mau408

I went in branch last june and asked if the £1000 could be a standing order from an halifax websaver and they said yes that was allowed.
Existing or new customers can switch to the 6.15%. you are just one form away.
(I admit I actually had problems because they initiallydidn't switch my current account over until I realised I weren't getting enough interest but I've since received a back date of interest to June ;-)

regularsaver1

Kazza242 wrote: »

You don't have to be a new customer to apply for the 6.17% current account. As an existing customer you can just apply for an upgrade. One of my family members, who was an existing customer, did this recently and was accepted.

or redesignate existing current account

carpy

i was hoping to transfer back £250 of my finished reg saver (£3078.51), now sitting in web saver, into the reg saver as my 1st payment for another year put can't do it??