Stung by halifax web saver reward scam. Advice?

helifox

alanq wrote: »

According to a recent survey 16% of people cannot find a balance on a bank statement.
https://www.moneyadviceservice.org.uk/files/the-financial-capability-of-the-uk.pdf

Perhaps their bank's statements are unbalanced...

Gromitt

When you got the letter containing your ATM card, what did it say on the letter?

Did it say "Thank you for applying for a Web Saver Reward" or did it say "Thank you for applying for a Web Saver" ?

Since this was an official printed letter from Halifax, it would serve as valuable evidence if it states the correct wording.

It will not state interest rate, but we know Web Saver was 0.25%.

Archi_Bald

helifox wrote: »

Perhaps their bank's statements are unbalanced...

Yeah, must be something like that. It cannot possibly their fault, can it.

helifox

Gromitt wrote: »

When you got the letter containing your ATM card, what did it say on the letter?

Did it say "Thank you for applying for a Web Saver Reward" or did it say "Thank you for applying for a Web Saver" ?

Since this was an official printed letter from Halifax, it would serve as valuable evidence if it states the correct wording.

It will not state interest rate, but we know Web Saver was 0.25%.

That letter is long gone - but the card says Web Saver, so presumably it said that... But so what? Clicking on the yes card option meant everything defaulted to the Web Saver...

There is not really any argument about that. Because the application form is entitled variable rate Web Saver, and the account titled Web Saver Variable - and the way to click through to that application is by clicking on the advertised opportunity to receive 2.8% - it makes sense to assume that the name of that product is Web Saver. As you say, no sign of altered rate. 'We' didn't know.

helifox

You cannot bring about prosperity by discouraging thrift, strengthen the weak by weakening the strong, help the wage earner by pulling down the wage payer, establish sound security on borrowed money, keep out of trouble by spending more than you earn, help men permanently by doing for them what they could and should do for themselves.

I looked it up - William Boetcker... might have guessed it had the whiff of Presbyterianism. I probably had to recite it in primary school while being strapped.

talexuser

alanq wrote: »

According to a recent survey 16% of people cannot find a balance on a bank statement.
https://www.moneyadviceservice.org.uk/files/the-financial-capability-of-the-uk.pdf

Even more incredible to me 12% of a big survey believe the base rate is over 10%, 25% would rather live for today than plan for tomorrow, and 17% go out and buy things when they can't really afford them.

ScarletBea

I'm just surprised that the OP only noticed at the end of the year! I've got one of those and it was one of the first things I did after opening it, check that the interest rate information I could see online was the correct one - and I do the same for all of my online accounts regularly, I don't wait until the end of the period for the calculations.

Gromitt

helifox wrote: »

That letter is long gone - but the card says Web Saver, so presumably it said that... But so what?

You wanted the Web Saver Reward.
You got the Web Saver.
It would cause me to wonder why the confirmation letter didn't say "Web Saver Reward".
You didn't find that strange?

ScarletBea wrote: »

I've got one of those and it was one of the first things I did after opening it, check that the interest rate information I could see online was the correct one - and I do the same for all of my online accounts regularly, I don't wait until the end of the period for the calculations.

I'd expect most people would, but some prefer to assume everything is fine as the bank should be looking after them, and then sue if they didn't get what they wanted.

helifox

ScarletBea wrote: »

I'm just surprised that the OP only noticed at the end of the year! I've got one of those and it was one of the first things I did after opening it, check that the interest rate information I could see online was the correct one - and I do the same for all of my online accounts regularly, I don't wait until the end of the period for the calculations.

I wasn't aware that sitting and watching your money, and checking that you have the right interest rate were in the T & C's for the account. I had quite a lot of other stuff to attend to, (mostly critical illness and death). I rather took my failing eyesight off the ball. After the money was deposited and the account open I thought it was all fine. I've written this quite a lot - but once more for good measure: there was no indication that the interest rate would be other than the advertised 2.8%.
...not in the T& C's, not on the application form.

Anyway, if you open it straight after receiving it, you can't see the interest rate (see opinions4u thread opened on 1/04/2011)

helifox

Gromitt wrote: »

You wanted the Web Saver Reward.
You got the Web Saver.
It would cause me to wonder why the confirmation letter didn't say "Web Saver Reward".
You didn't find that strange?

No. Halifax naming often seems aberrant. The ad. said 2.8% click here. I did and went to an application form called Variable Rate Web Saver... and that is what I got.

There was no indication that the rate would be other than 2.8%

Halifax were writing to us at the time about a .2% Reward for account loyalty, which I believe we received.

Anyway - enough already... Thanks for your interrogation. It has forced me to explore the details and helped confirm my view.