Halifax Kids' Regular Saver account whopping 6% misleading

veryintrigued

monkeymoomoo999 wrote: »

not easy to understand for the ordinary person

I'm very ordinary and I understand it.

As has been noted above this comes up very regularly. Fingers crossed that the answers in the post get relayed to the forumites children who start these threads such that they are more informed on basic stuff like this than their parents.

Biggles

bsms1147 wrote: »

Sounds like the account paid some tax too.

I think that's part of the problem; the bank staff should have explained that a Form R85 should be filled out.

The other problem might be the amount subscribed. It clearly wasn't £100 every month, as the OP says, 'approximately £1200' was put in. If I'd had a monthly SO, I'd have known it was exactly £1200, so in some months the full amount wasn't paid.

le_loup

Biggles wrote: »

The other problem might be the amount subscribed. It clearly wasn't £100 every month, as the OP says, 'approximately £1200' was put in. If I'd had a monthly SO, I'd have known it was exactly £1200, so in some months the full amount wasn't paid.

............ or was not put in at the beginning of the month.