HL Active Savings Account

timbo29_2

Interesting you have nought this topic up. MY HL SIPP isn't doing too well. I've recently inherited £5K and want to ring fence it in a savings account for my daughter - show wont need it for at least 10 years so I've looking at the best savings options.

Matello

I realise this is an old post I'm replying to but I've had a HL ASA for about a year.
Only been depositing in that time until recently.
Getting money out has been a problem.
First I was getting errors and HL had to execute a manual transfer.
Then this week I withdrew £3000 thousand and transferred  £3000 to my bank account.
Checked my bank account and only £2800 has been transferred yet in the HL ASA Cash hub it is showing £0 left despite their transaction history saying there is £200 in the cash hub. So £200 has gone missing.
I will be closing it down as soon as this is resolved and I have ZERO confidence in them.

colsten

Matello said:

I realise this is an old post I'm replying to but I've had a HL ASA for about a year.
Only been depositing in that time until recently.
Getting money out has been a problem.
First I was getting errors and HL had to execute a manual transfer.
Then this week I withdrew £3000 thousand and transferred  £3000 to my bank account.
Checked my bank account and only £2800 has been transferred yet in the HL ASA Cash hub it is showing £0 left despite their transaction history saying there is £200 in the cash hub. So £200 has gone missing.
I will be closing it down as soon as this is resolved and I have ZERO confidence in them.

You will shortly be getting your £200, back to the debit card(s) you made your deposits with. I believe it is in their T&Cs that "if you withdraw money within 60 days of adding it to your Active Savings Account, we reserve the right to refund that money to the source of payment." It seems to be a legal obligation they have under Anti-Money-Laundering legislation.

It's a little confusing when this happens the first time to you but it is nothing to worry about. HL are not withholding any of your money.