Halifax H2B ISA dropping rate for existing customers?

Ed-1

The below Halifax H2B ISA page now says:

"Rates of interest are subject to change. Rates effective from 0.00am on 01/12/2015."

http://www.halifax.co.uk/isas/cash-isas/helptobuyisa/

It used to say "Rates effective from 0.00am on 03/05/2016." (e.g. see this archived page from 10th August: http://webcache.googleusercontent.com/search?q=cache:http://www.halifax.co.uk/isas/cash-isas/helptobuyisa/)



Do you think they've written to existing customers to notify them the rate will drop from 4% to 2.5%?

Miss165

Well I've certainly not been notified... From what I can tell I'm still at 4%

eskbanker

Ed-1 wrote: »

It used to say "Rates effective from 0.00am on 03/05/2015." (e.g. see this archived page from 8th August: http://webcache.googleusercontent.com/search?q=cache:http://www.halifax.co.uk/isas/cash-isas/helptobuyisa/)

The cached page actually refers to 03/05/2016, i.e. the newer page specifies an older date (when the rate actually was 4%!), so it looks like they've messed up here....

Ed-1

eskbanker wrote: »

The cached page actually refers to 03/05/2016, i.e. the newer page specifies an older date (when the rate actually was 4%!), so it looks like they've messed up here....

Typo on my part. It used to say 03/05/16 (which is when the rate dropped on new accounts to 2.5%). Prior to this it was 4% from 01/12/15 (i.e. the launch of H2B ISAs). They updated the page on 11th August to say the current rate of 2.5% is now effective from the start (01/12/15) which could be taken to imply it has dropped for existing accounts now. However it could just be an error when they updated the page (e.g. they've reorganised it and added a video etc.) but it does seem a coincidence when the base rate has just dropped...

masonic

No notification here either. Probably an error on their part.

Strummer22

Ed-1 wrote: »

Do you think they've written to existing customers to notify them the rate will drop from 4% to 2.5%?

Looks like they've been a bit careless with the wording on that page. I just logged in to online banking and it says "4.00 % gross interest rate". Happy days.

Westie983

Existing H2B isa's are still at 4% no sign of this changing for the moment, (notice of 30 days is required) the 2.5% rate for new applications, as per other account rates that are dropped or been removed from sale..