When does Halifax pay interest on savings?

rb10

Consumerist wrote: »

In common with most, if not all, banks these days, there is not an online option to close an account. You have to phone up and beg them to do it whilst giving them the chance to harangue you into buying into several other "opportunities" you just don't want and they just don't know anything about - unless it's on the script.

Bank staff are still sales people - they don't much care about what the customer wants.

I've never had to 'beg' someone to close a savings account by phone. If they try to sell you something you don't want, then just tell them so.

If you really don't like using the phone, then just write a letter and either post it to them or put it through the branch letter box.

Consumerist

rb10 wrote: »

I've never had to 'beg' someone to close a savings account by phone. If they try to sell you something you don't want, then just tell them so. If you really don't like using the phone, then just write a letter and either post it to them or put it through the branch letter box.

Yes, I take your points but the issue was about getting interest paid more quickly. The post is hardly likely to be quicker than waiting a few days for things to take Halifax's natural course.

The "beg" reference was intended to be hyperbole concerning the process of closing an account. There was a time when accounts could be closed online.

BeachNut

Consumerist wrote: »

In common with most, if not all, banks these days, there is not an online option to close an account. You have to phone up and beg them to do it whilst giving them the chance to harangue you into buying into several other "opportunities" you just don't want and they just don't know anything about - unless it's on the script.

Bank staff are still sales people - they don't much care about what the customer wants.

Write them a letter...1st class post... if you can't tell them up front on the phone you don't want to talk about anything other than closure of your account. Should be actioned within a few days. Done. Be prepared next time and have your letter ready to post a few days before bonus expiry stating the date you want to close it. Done.

Consumerist

BeachNut wrote: »

Write them a letter...1st class post... if you can't tell them up front on the phone you don't want to talk about anything other than closure of your account. Should be actioned within a few days. Done. Be prepared next time and have your letter ready to post a few days before bonus expiry stating the date you want to close it. Done.

Frankly, I don't give a flying f*rt whether the account is closed or not - I already have several disused accounts so another one won't make much difference.

I just want my interest paid on time. End of.

Ifts

Consumerist wrote: »

There was a time when accounts could be closed online.

Yes I was also baffled by not being able to close a Halifax Online Saver account Online , it was the same this time last year but thought Halifax may have offered that option by now or at least let you re-designate it to a new issue, but no such luck.

The bonus expired on my Online Saver on Tuesday (acc opened 1.10.12, interest added 1.10.13) so thought I would try to re-designate it to a new Online Saver so I could keep the same sort code and account number, no option of that that I could see (Derbyshire Building Society lets you re-designate your old account to a new issue, letting you keep the same account number and sort code, makes life easier).

The only way was to open a new Online Saver (meaning new acc number and sort code), I then tried to close the old Online Saver online but Halifax don't let you do that also, instead you have to write in to their 'Account Closure Department' or failing that you can close the old account by visiting your local Halifax branch.

As far as I'm aware there is no option to close a Halifax account over the phone, you have to write in or visit a branch:

http://www.halifax.co.uk/bankaccounts/help-guidance/common-enquiries/general-bank-account-enquiries/#closing-your-account

IIRC you used to be able to close Halifax accounts online in the past, may have been before Lloyds joined up with Halifax.

pqrdef

When you opened the account 12 months ago, there was an option to have the interest paid away. In which case, the Online Saver will just sit there dumb while the interest is lurking somewhere else. I don't know how to check which option was selected.

Consumerist

Ifts wrote: »

The bonus expired on my Online Saver on Tuesday (acc opened 1.10.12, interest added 1.10.13) . . .

That's interesting. Are you sure that the interest was actually added on 1.10.13 or are you just relying on what the online statement is showing?
i.e. did you check the account on 1.10.13 or at a later date?

Ifts

Consumerist wrote: »

Are you sure that the interest was actually added on 1.10.13 or are you just relying on what the online statement is showing?

I am relying on what the online statement is showing.

Online statement shows interest credited on the anniversary of the account opening 1.10.13 (I checked 2.10.13 and interest was showing in the account).

i.e. did you check the account on 1.10.13 or at a later date

On Tuesday (1.10.13) the day the interest is showing as being credited I did not check the account, I moved the whole balance (inc interest) to a new Online Saver Issue on Wednesday (2.10.13).

Consumerist

Ok. Interest finally paid today.

Due date: 02/10/2013
Payment date: 04/10/2013
but showing on the account as paid 03/10/2013.

It's only a couple of days late but how would Halifax respond if I paid their bills a couple of days late?

lolly5648

Consumerist wrote: »

Ok. Interest finally paid today.

Due date: 02/10/2013
Payment date: 04/10/2013
but showing on the account as paid 03/10/2013.

It's only a couple of days late but how would Halifax respond if I paid their bills a couple of days late?

I just checked mine - no sign of an interest payment but they quoted the new rate of 0.1%. I have moved everything out and raised a complaint.