Halifax Tracker Account

whitejohn

Any potential problems with this?

I was thinking about investing £84K in the Halifax Tracker Account at 1.8% over 18 months on the basis that. I don't need access to the cash.

1: Interest rates are due to rise soon so this will track the base rate?

2: I already have a Halifax accounts so should be easy to setup without all the hassle of proving ID?

I already have the Santander 123 current account.

The rest is with NS&I (poor rate) so may setup and ISA with them but as I only have state pension then tax should not be a problem so is it worth the hassle?

Anywhere to put another £84K without any hassle as I have just moved house and had massive hassle, proof of ID with solicitors, car insurance expired between move and address changes so uninsurable for 10 days. Bound to be problems with new bank accounts.

PeacefulWaters

The account does what it says.

I think interest is paid monthly to a different account.

If you want to withdraw it's all or nothing. You have to close and pay a penalty on the full balance. So you might be better having two or three accounts (if the T&Cs allow) to mitigate this.

Additionally, will it take you over the £85k FSCS limit?