Halifax Everyday Saver

c1403

Having just received a ppi refund for a nice sum, I want to put it into a saving account separate to our main (joint account).

I've opened an everyday saver with Halifax and plan to deposit funds in there as I can withdraw when needed etc

My question is can you use this account to make direct payments to other payees? Or can you only withdraw funds as cash.
In the next month or two I will be looking to book a suprise holiday using some of the money but rather pay direct rather than transfer to our joint account as husband will see the payee.

Appreciate all accounts are different and it would be easier to ask in branch which I will do next week when I have some time.

Thanks

House_Martin

At 0.35% interest, the Everyday Saver account is pretty dreadful. it does`nt make sense to open another Halifax account.
I used to have a Halifax current account which gave a good interest rate with over . I think it was £2000, and over so maybe its better leaving it in the current account where its certainly ok to do transfers and manage direct debits.
I dont think you can use this account to make transfers but its so quick and easy to do internal Halifax account transfers online to the current account where you can do what you want with it with your debit card

CavendishWobble

The current rate for Everyday Saver on Halifax is 0.20%, it goes up to 0.35% if you managed to get a preferential rate on the account which is no longer available.

You cannot set up standing orders on the account and i think you would need to transfer the funds into another Halifax account to then send onto a payee. As it is a savings account rather than a current account. You sound like you are better off taking out a current account.

takman

c1403 wrote: »

Having just received a ppi refund for a nice sum, I want to put it into a saving account separate to our main (joint account).

I've opened an everyday saver with Halifax and plan to deposit funds in there as I can withdraw when needed etc

My question is can you use this account to make direct payments to other payees? Or can you only withdraw funds as cash.
In the next month or two I will be looking to book a suprise holiday using some of the money but rather pay direct rather than transfer to our joint account as husband will see the payee.

Appreciate all accounts are different and it would be easier to ask in branch which I will do next week when I have some time.

Thanks

If the only accounts you have are with one bank then you should definitely look at opening another account with another bank as a backup.

You can then look at getting another current account that pays up to 5% interest on a certain amount rather than the poor 0.25-0.35% interest you will get with the Halifax savings account.

deinoflex

To answer the original question.. yes you can set up and make faster payments from this savings account. I can't find it in the terms and conditions, but I already have one and have payees set up.

Westie983

C1403 Yes you can make faster payments from any account, what you cant do on a savings account is pay out via DD.

So as long as you have the details of where you want the payment to go, you will be able to make the payment.

House Martin None of the Halifax current accounts pay interest now only a reward of £3 if the reward account is held.

The account you maybe thinking about was the High Interest Current Account (HICA) which did pay interest but was pulled in 2007/2008, or the first launched Reward account which paid interest up to £1500, but again rules changed when the interest was stopped and the reward payments were introduced.

Westie983

c1403

Thank you.
I just wanted to keep the money away from our main account for the time being but have flexibility to pay out from if needed.

:-)