Halifax HTB ISA Funding

jatinmistry_uk

I am now confused too. Made a request 10 days ago to open the HTB ISA and have just found my account details after speaking to them as no confirmation e-mail or letter rec'd although application said will get in 5 working days.

Anyway, I have made a request to transfer this year cash isa in full of £285 and £700 from last year. Although it said the deposit needs to be in within 21 days of account opening, not sure if transfer will go through as had to fill out various forms. I have also been able to pay in £200 via BACS and set-up £200 standing order from next month.

Do you think I have done this correctly i.e. £1000 (£985 in my case) + £200 for the first month. Rang but no definative answer.

lauren_hb

So i've set up the Halifax HTB ISA with no problems, transferred the initial £1000 and set up a standing order from my HSBC account for the £200 each month on the 20th.
However, i've only chosen this date to not miss out on the month of December as the standing order has to be by the 25th of each month.
My query is as to whether after December I can cancel the current standing order and set up a new one for say the 4th of each month? This is just more convenient for me in terms of when I get paid etc. I see no option to amend the standing order through my HSBC online banking, you can only cancel them.

Futuristic

lauren_hb wrote: »

So i've set up the Halifax HTB ISA with no problems, transferred the initial £1000 and set up a standing order from my HSBC account for the £200 each month on the 20th.
However, i've only chosen this date to not miss out on the month of December as the standing order has to be by the 25th of each month.
My query is as to whether after December I can cancel the current standing order and set up a new one for say the 4th of each month? This is just more convenient for me in terms of when I get paid etc. I see no option to amend the standing order through my HSBC online banking, you can only cancel them.

Once the payment goes out on 20th, cancel and setup a new one for the 4th. Won't be a issue.

I don't use HSBC but usually their should be option to change.

Archi_Bald

Futuristic wrote: »

I don't use HSBC but usually their should be option to change.

At HSBC, you can only change the amount. Setting up a new SO is the way to go, and deleting the existing one once it has paid.

Mamai

Hi guys, can I ask a question along the same lines.

I opened a help to buy isa today with Halifax (I bank with them anyway).

I have set up my standing order for £200 which will go in on the 1st of every month (obv not january 1st)

What I was wondering though is- I'm planning on putting in my £1000 on 6th January when I get it from my regular saver, can't get it before then as that is my year anniversary. However this means the £1000 will go in after the first standing order, is this ok? Or do you have to pay the £1000 (or as much as you wish within 21 days) before your first standing order?

Ed-1

Mamai wrote: »

Hi guys, can I ask a question along the same lines.

I opened a help to buy isa today with Halifax (I bank with them anyway).

I have set up my standing order for £200 which will go in on the 1st of every month (obv not january 1st)

What I was wondering though is- I'm planning on putting in my £1000 on 6th January when I get it from my regular saver, can't get it before then as that is my year anniversary. However this means the £1000 will go in after the first standing order, is this ok? Or do you have to pay the £1000 (or as much as you wish within 21 days) before your first standing order?

The terms say "Once your ISA is opened you have 21 days to pay in an initial deposit of up to £1,000."

So if you sent a standing order for £200 as your first deposit, it would count as your initial deposit and you wouldn't therefore be able to deposit the £1000 after. You'd only be able to send a further £200 in January as the first £200 would count as your initial deposit (which can be up to £1000) so you would still be able to send a further £200 as January's standing order.

Mamai

Thanks so can I put in £1000 on 6th january and then set up my standing order to go in on 7th January for £200 given then that 8th January is my 21 day deadline?

colsten

Mamai wrote: »

Thanks so can I put in £1000 on 6th january and then set up my standing order to go in on 7th January for £200 given then that 8th January is my 21 day deadline?

That sounds right. Get your full £1,000 before you deposit anything else.

green1960

I opened my Halifax Help to Buy ISA, with bank transfers from my Halifax current account in the following amounts - £1, £299 and then £900 which were all accepted. Now when I look on see latest statement - it says Total ISA investments £0,00. Has anybody else had this?

colsten

green1960 wrote: »

I opened my Halifax Help to Buy ISA, with bank transfers from my Halifax current account in the following amounts - £1, £299 and then £900 which were all accepted. Now when I look on see latest statement - it says Total ISA investments £0,00. Has anybody else had this?

Sounds you have fallen foul of the Halifax T&Cs, and their implementation of the HTB ISA, on more than one account:

• your first deposit will be taken as your initial deposit
• your initial deposit can be anything up to £1,000. Yours was £1, unfortunately
• your subsequent deposits must not be more than £200 per month. Yours was £299
• your third deposit was not allowed as you had already made your initial deposit and your monthly deposit

All your deposits have probably been returned to you now. You can argue that their implementation is a bit moronic, but it's their implementation, and from what I gather, they make it very clear what deposits they allow.

You should urgently talk to Halifax (particularly if you haven't actually got your money back) as they are the only ones who can possibly fix this for you. Or may be they would let you close the account under cooling off terms, and then you could start again, this time sticking to the rules they have laid down?

Gently remind them that you are a potential mortgage customer some time down the line.....