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Halifax 18 month isa interest error alert
HUMBUG
Posts: 470 Forumite
Hi All
Just received a letter from Halifax saying they underpaid the interest on my 18 month fixed ISA saver that I subscribed to in 2014. Stupid me , I didn't bother to check the interest amount paid (on maturity in Sept 2015) just trusting the banks systems. Now looking at the rollover amount statement , it seems they only paid interest for 1 yr instead of 18 months. I strongly advise all Halifax savers to double check the interest that was paid on their ISA saving accounts. I suspect this error only showed up when I decided to renew to a new 2yr fixed ISA with Halifax. So wondering if they are contacting savers who switched to different ISA providers and compensating them. I must admit that this is an atrocious error on their part and although they have discovered the mistake 3 months later, does not fill me with great confidence in their accounting systems.
PS. Don't bother trying to call the helpdesk number on their letter because its a 20 minute wait . I wonder why?
PS AGAIN. I contacted the FCA and they are going to investigate further whether HALIFAX are contacting all affected customers (and not just those who may have reinvested their matured cash ISAs with them ).
Just received a letter from Halifax saying they underpaid the interest on my 18 month fixed ISA saver that I subscribed to in 2014. Stupid me , I didn't bother to check the interest amount paid (on maturity in Sept 2015) just trusting the banks systems. Now looking at the rollover amount statement , it seems they only paid interest for 1 yr instead of 18 months. I strongly advise all Halifax savers to double check the interest that was paid on their ISA saving accounts. I suspect this error only showed up when I decided to renew to a new 2yr fixed ISA with Halifax. So wondering if they are contacting savers who switched to different ISA providers and compensating them. I must admit that this is an atrocious error on their part and although they have discovered the mistake 3 months later, does not fill me with great confidence in their accounting systems.
PS. Don't bother trying to call the helpdesk number on their letter because its a 20 minute wait . I wonder why?
PS AGAIN. I contacted the FCA and they are going to investigate further whether HALIFAX are contacting all affected customers (and not just those who may have reinvested their matured cash ISAs with them ).
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