Halifax Regular Saver - advice please!!!

jonnno

First of all sorry for the long post but this is a long story

Our local Nationwide closed down last year and the kids had their savings accounts there. The only other local branch was Halifax so opened 2 Save4it accounts in each of the kids names.

As we are going on a big family holiday this year (Florida woo hoo!) I wanted to put some money away for spends so it wasn't such a big outgoing this year. So after speaking to a Halifax rep (salesman) on the phone he advised I open the Regular Saver accounts. So I did in each of the kids names and also in my name. Also was told that after 12 months the money would transfer into a nominated Halifax deposit account which was ok for the kids as they had their Save4it accounts but I had to open a Premium savings account with them.

This was ok as we already had a NatWest Reserve account which doesn't give much interest and the Premium Savings account was better. I asked about internet banking as I work full time and have difficulty getting to a branch. I was told that all the accounts were available online.

So I opened 6 accounts in total (3 Regular savers, 2 Save4it and 1 Premium Savings). I went down to the branch with all paperwork, IDs, passports, utility bills, etc, etc, etc.

12 months is now up and I rang to check that the transfer would be done. I was told there was a stop on the Regular Saver accounts and the transfers wouldn't be made until an application form was completed. I was told I could do this at my branch.

Rather disgruntled (as I had spent over 2 hours on 2 separate occasions last year completing all forms, etc) I went to the branch. I was then told this wasn't a branch, it was an agency and they couldn't do it! I explained that I had completed the forms there in the same building last year and after a few minutes they found some forms for me to complete and said that the money would transfer in 24 hours.

Well to cut a long story short it didn't transfer in 24 hours. I have spent a week telephoning Halifax (I have made 12 calls, they have returned 1). Having gone through the automated phone service entering account no, sort code, etc, they then cut me of (in error yes but I then had to go through it all again)!:mad:

I looked up their complaints procedure and called their complaints number. I was put on hold for 15 minutes so I hung up and called again. I got through the "Customer Relations" Manager (wrong job!) She didn't seem to understand there was a problem - she said I should give them time to sort it out. I said I had given them 12 months as they have had all the details for this long. She hung up on me because she said I wasn't listening!!

I don't know what to do next. I have compiled a lengthy letter that I am sending to Customer Relations and the Financial Ombudsman. I feel I was missold the accounts for 3 reasons : 1) I was told there was online banking - there isn't you can only read transactions online; 2) I was told the transfer would happen automaticaly after 12 months and it hasn't.

The money was needed yesterday to pay for travellers cheques and it still hasn't all transferred over - mine has but the kids hasn't. Luckily I was able to cover the costs. I have checked online again today and they have transferred too much over now and transferred mine twice to make the Regular Saver overdrawn!

Help please - I don't know what to do next and I am at the end of my tether. I am now too scared to ring them again due to the aggressive wasy the Customer Relations Manager was with me.

stevem01

I'm afraid that in my expereince, incompetence of this sort is just normal business for the Halifax.

My wife and myself have had endless trouble with Childrens Regular Saver Accounts. My daughter is still in the process of trying to get an Expresscash account opened after applying for the account in Febraury 2007. She has been offered compensation for the delay, but theHalifax Customer relations people have suggested that she should request the compensation payment be put into a different bank account - since they are still investigating the problem and her Expresscash account is still not opened.

It doesn't give you much confidence when even the Halifax's own Customer Relations dept. suggest that you use a different bank!!

fwor

I would suggest that, despite your worries, you call the complaints line again - it's what they are there for. The worst that can happen is that they hang up on you again, and if you ask nicely early in the call for the name of the person you are speaking to, they are much less likely to be rude!

Secondly, be quite clear in advance of your call what you want to achieve - if necessary write it down so you don't forget if you start to get angry. If you want to be compensated for monetary loss, work out in advance how much you have lost and be prepared to justify that amount.

Thirdly, try to stay calm. Often difficult, but it will really help you think straight.

Also, I would suggest that you avoid using the term "missold", as I don't ~think~ (a real IFA may be able to correct here) that this sort of savings product is considered to be "sold" to you - you just get advice on it's attributes and then apply for it (or not).

I suspect also that you won't get far with the argument about online banking - if you can go online and view your balance and transactions then it is a form of online banking - just not a very useful one!

Good luck.

jonnno

stevem01 wrote: »

I'm afraid that in my expereince, incompetence of this sort is just normal business for the Halifax.

My wife and myself have had endless trouble with Childrens Regular Saver Accounts. My daughter is still in the process of trying to get an Expresscash account opened after applying for the account in Febraury 2007. She has been offered compensation for the delay, but theHalifax Customer relations people have suggested that she should request the compensation payment be put into a different bank account - since they are still investigating the problem and her Expresscash account is still not opened.

It doesn't give you much confidence when even the Halifax's own Customer Relations dept. suggest that you use a different bank!!

Thanks for that ... in some kind of strange way it makes me feel better knowing I'm not the only one!

jonnno

fwor wrote: »

I would suggest that, despite your worries, you call the complaints line again - it's what they are there for. The worst that can happen is that they hang up on you again, and if you ask nicely early in the call for the name of the person you are speaking to, they are much less likely to be rude!

Secondly, be quite clear in advance of your call what you want to achieve - if necessary write it down so you don't forget if you start to get angry. If you want to be compensated for monetary loss, work out in advance how much you have lost and be prepared to justify that amount.

Thirdly, try to stay calm. Often difficult, but it will really help you think straight.

Also, I would suggest that you avoid using the term "missold", as I don't ~think~ (a real IFA may be able to correct here) that this sort of savings product is considered to be "sold" to you - you just get advice on it's attributes and then apply for it (or not).

I suspect also that you won't get far with the argument about online banking - if you can go online and view your balance and transactions then it is a form of online banking - just not a very useful one!

Good luck.

Thanks for the advice and support. As part of my job I deal with banks and business people on a daily basis but have never experienced such bad customer care as this.

I would be interested in the use of "missold" in this case as I believe that I was sold the accounts. However I would need to take advice from anyone who knows better than me.

I hadn't really thought about compensation ... all I was really after was for Halifax to say "sorry" but they've managed to turn it round and make me feel like I've done something wrong

Special_Saver2

As for wasting money on the phone trying to sort it out, you can get them to phone you at their expense:
http://www.halifax.co.uk/bankaccounts/callback.asp

Although it is intended for people trying to open a current account, I have heard others on this forum say that when called back, they have been allowed to discuss other matters.