Bonuses

Ineedaholiday_2

Everyone always talks about changing ISA's when bonuses end in order to get the best deal, but what if you want to change your instant access ISA to a better (fixed rate) USA before the bonus term ends?
I am with Halifax, and have an old and new Isa amalgated in an online saver (easy access cash USA). The rate is 2.75%, of which the bonus is 1.70%. I don't really need the money at this time, and wanted to transfer the whole let in a fixed ISA. The lady in the branch (who ill-adviced me in the past for which Halifax apologised) said I cannot change my easy access into fixed as the bonus would only end in July 2013 and I would lose all my bonus interest so far.
I have never heard of anything as such, and do not trust her at all, after last sxperiences. I can't find anything about this in terms and conditions.
Anyone know more about this? Cheers!!

david78

Ineedaholiday wrote: »

The lady in the branch (who ill-adviced me in the past for which Halifax apologised) said I cannot change my easy access into fixed as the bonus would only end in July 2013 and I would lose all my bonus interest so far.

She is talking rubbish. If you transfer early, obviously you lose the benefit of the remaining term, but the interest earned so far is credited to the account and transfered across.

innovate

You really need to look at the T&Cs of your ISA. It is highly unlikely that the bonus would only be payable if you kept your money in the ISA for a year, but without seeing the T&Cs, you cannot be certain.

david78

innovate wrote: »

You really need to look at the T&Cs of your ISA.

Its one of Halifax ISA Saver accounts. I had checked there is nothing in the T&Cs which prevent a an early transfer/lose bonus. Agree that the OP should go and check for him/herself though.