closing a Halifax Regular Saver early

hallmark

Quick question, if somebody has a Halifax Regular Saver and closes it early (after 10-11 months) would they still get the interest accrued until that point?

Relevant bits of The Ts&Cs say:
"Your interest is paid 12 months after you open the account."
"You can't access your savings unless you’re closing the Regular Saver account. You can close it before the end of 12 months."
"Interest is paid on the anniversary of account opening. we work out the interest each day and pay it after 12 months"

I'm presuming the DO still pay the interest but not certain.  I can't just ask Halifax as it's not my account.

Wheres_My_Cashback

hallmark said:

Quick question, if somebody has a Halifax Regular Saver and closes it early (after 10-11 months) would they still get the interest accrued until that point?

Relevant bits of The Ts&Cs say:
"Your interest is paid 12 months after you open the account."
"You can't access your savings unless you’re closing the Regular Saver account. You can close it before the end of 12 months."
"Interest is paid on the anniversary of account opening. we work out the interest each day and pay it after 12 months"

I'm presuming the DO still pay the interest but not certain.  I can't just ask Halifax as it's not my account.

Yes, interest is accrued daily. Can only be closed in branch with ID.

If rates significantly improve (unlikely), you won't be able to open another before the 12month anniversary of opening the previous one.

vermania

Wheres_My_Cashback said:

hallmark said:

Quick question, if somebody has a Halifax Regular Saver and closes it early (after 10-11 months) would they still get the interest accrued until that point?

Relevant bits of The Ts&Cs say:
"Your interest is paid 12 months after you open the account."
"You can't access your savings unless you’re closing the Regular Saver account. You can close it before the end of 12 months."
"Interest is paid on the anniversary of account opening. we work out the interest each day and pay it after 12 months"

I'm presuming the DO still pay the interest but not certain.  I can't just ask Halifax as it's not my account.

Yes, interest is accrued daily. Can only be closed in branch with ID.

If rates significantly improve (unlikely), you won't be able to open another before the 12month anniversary of opening the previous one.

It is possible to close it early and over the phone, at least I managed this in February. I received the interest accrued up to that point.

Wheres_My_Cashback

vermania said:

Wheres_My_Cashback said:

hallmark said:

Quick question, if somebody has a Halifax Regular Saver and closes it early (after 10-11 months) would they still get the interest accrued until that point?

Relevant bits of The Ts&Cs say:
"Your interest is paid 12 months after you open the account."
"You can't access your savings unless you’re closing the Regular Saver account. You can close it before the end of 12 months."
"Interest is paid on the anniversary of account opening. we work out the interest each day and pay it after 12 months"

I'm presuming the DO still pay the interest but not certain.  I can't just ask Halifax as it's not my account.

Yes, interest is accrued daily. Can only be closed in branch with ID.

If rates significantly improve (unlikely), you won't be able to open another before the 12month anniversary of opening the previous one.

It is possible to close it early and over the phone, at least I managed this in February. I received the interest accrued up to that point.

Wouldn't allow me to close mine over the phone last week, said branch only.

TheStoozeFather

I was able to close mine via chat, and I can confirm interest accrued was paid.

OceanSound

TheStoozeFather said:

I was able to close mine via chat, and I can confirm interest accrued was paid.

How do you access the live chat feature? I can't see it anywhere on the Halifax website. Internet search doesn't bring up anything either.

edit: found it thanks to this tweet:

https://twitter.com/HalifaxBank/status/885078280428285954

So, on halifax bank homepage I click on credit cards then on the page that loads I can see on bottom right corner a icon named 'Chat with us'

edit2: Just been chatting on live chat. agent said they've never been able to close via chat. Could be that I just got a rubbish agent. Miond you this was the second agent today, the first one was worse, so I tried again and got this one who wasn't miles apart better from the first.

cosh25

I closed mine early via the chat feature in the app. Took a day or so between replies, but was easier than going to a branch

MDMD

You can close it online by “renewing” it into a standard easy access savings account, then withdrawing the money and finally closing it. Takes 5 minutes 

https://www.halifax.co.uk/savings/existing-customers/convert.html

OceanSound

cosh25 said:

I closed mine early via the chat feature in the app. Took a day or so between replies, but was easier than going to a branch

Just seen your post. Came back here to give update to my post.

Earlier today I used the chat feature within the app to message agent. I mentioned rewards saver, account number and sort code, that I'd like to close the account, and that I'd like the funds into my nominated account, then logged off. Logged in now to in-app chat and I can see from that agent had closed the account within 10-15 minutes after I messaged. 

Money is in the nominated account. So, really at a loss as why the other chat agents (not the in-app chat agents) couldn't suggest chatting to support via the app. THey just said telephone support. Seemed they are not aware that closing reward saver can be done via in-app chat. 

I can kinda understand why we cannot close account with that particular chat (because it seems to be available even before we are logged in - so we haven't been authenticated) but at least they can suggest using the in-app chat. Mind boggles.

OceanSound

MDMD said:

You can close it online by “renewing” it into a standard easy access savings account, then withdrawing the money and finally closing it. Takes 5 minutes 

https://www.halifax.co.uk/savings/existing-customers/convert.html

I followed the link above. It says: 

If you've already got an easy access savings account with us, you can renew it into one of our other savings accounts.

nothing about the other way round. i.e. converting a regular saver to an easy access savings account.

Vortigern

OceanSound said:

MDMD said:

You can close it online by “renewing” it into a standard easy access savings account, then withdrawing the money and finally closing it. Takes 5 minutes 

https://www.halifax.co.uk/savings/existing-customers/convert.html

I followed the link above. It says: 

If you've already got an easy access savings account with us, you can renew it into one of our other savings accounts.

nothing about the other way round. i.e. converting a regular saver to an easy access savings account.

It doesn't say that you can't do it the other way round.

MDMD's process worked OK for me.