Halifax Regular Saver automatic renewal

surreysaver

I received notification today that my Halifax Regular Saver will be automatically renewed when it matures next month. However, I do not want it automatically renewed, as I would like to start a new one when the timing suits me, rather than have them do it automatically. I do not recall it being in the conditions that it will be automatically renewed upon maturity. How can I prevent it from being automatically renewed?

veryintrigued

Maybe contact them?

surreysaver

veryintrigued wrote: »

Maybe contact them?

Well, I have. But the employee on the phone tried to tell me that it doesn't automatically renew, and transfers into an Everyday Saver. I explained to her that that's what the conditions stated when I opened the account, but that is in contradiction of what they have written to me and told me. So who knows? Sounds like another case or left-hand right-hand.
I expect it is someone in the Savings department trying to be helpful, but doing it without consent.

EarthBoy

I confirm the Halifax Regular Saver does automatically renew, because it happened to me. They transfer your savings to an Everyday Saver account, but they keep the Regular Saver open and your standing order continues into the old account.

I presume you could cancel the Regular Saver just by cancelling your standing order, and if no money goes into it the Halifax will close it, but I can't confirm this.

gingercordial

It does automatically renew. I was a bit annoyed about this as I didn't realise and mine renewed and ran on empty (I'd cancelled the standing order), then when they upped the interest rate for new accounts I could not immediately open one because you can only have one RS at a time and the renewed empty one counted for mine. Nor could it be closed online or by telephone - I was advised that I had to go into a branch to do so. That said, it was a quick conversation at the counter and it was done.

surreysaver

Automatic renewal is fine if the terms and conditions say that. But they don't, so therefore Halifax are in breach of them

surreysaver

I can't see where those terms and conditions are on the website, there is certainly no link to them from the Regular Saver page. It is also contrary to what I was told over the phone. But then product knowledge of staff at the Halifax seems patchy from my experience

AirlieBird

https://www.halifax.co.uk/helpcentre/legal-information/product-terms-and-conditions/

surreysaver

It doesn't say anything in those conditions about closing the account, so I presume I can just close my Regular Saver after its matured, and open a new one later in the year? The terms and conditions are contradictory to other literature elsewhere.