Halifax regular saver 20 January at 4:09PM in Savings & investments 8 replies 713 views

fly-catchers

I had a regular saver from the Halifax which matured on the 3 February last year. As the new rate was only 0.75&% I didn’t bother for last year. But it was still added to my list of accounts. I have now got a letter saying it will mature in early February. In the letter they mentioned a rate of 4.5% which is much more interesting. They say they will automatically set up another one at I assume the 4.5% rate.  As I have not had anything in last years account do you think that will occur. Or should I quickly add £25 the minimum into before it matures? 

wmb194

fly-catchers said:

I had a regular saver from the Halifax which matured on the 3 February last year. As the new rate was only 0.75&% I didn’t bother for last year. But it was still added to my list of accounts. I have now got a letter saying it will mature in early February. In the letter they mentioned a rate of 4.5% which is much more interesting. They say they will automatically set up another one at I assume the 4.5% rate.  As I have not had anything in last years account do you think that will occur. Or should I quickly add £25 the minimum into before it matures? 

No. You should close your existing 0.75% one and open a new 4.5% one. You don't need to wait.

kaMelo

You need to "renew" your account in on-line banking to an easy access saver after which you can open a new one at 4.5%.

If you use the *close account" option then you will be blocked from opening a new lone until the twelve months are expired from opening the old one.

Eco_Miser

kaMelo said:

You need to "renew" your account in on-line banking to an easy access saver after which you can open a new one at 4.5%.

If you use the *close account" option then you will be blocked from opening a new lone until the twelve months are expired from opening the old one.

I did that, but I can't open a new Regular Saver, and i can't close the easy access saver either - as in those options aren't shown on the page.  I'd go in to do it in branch but I've got a bad cold or worse.

AntoMac

You can do it online. I did mine online about  3 months ago and started a new one at 4.5%
As @kaMelo mentions above, you have to first of all ‘renew’ it to an Instant Saver

MDMD

AntoMac said:

You can do it online. I did mine online about  3 months ago and started a new one at 4.5%
As @kaMelo mentions above, you have to first of all ‘renew’ it to an Instant Saver

And I think the “close” option doesn’t show until you empty the instant access account

Bridlington1

If I'm not mistaken you need a balance of £5 or less to close a savings account with LBG banks. You can renew with more than £5 in it, but not close it.

As mentioned above, renew the regular saver into an easy access account, then close it. I've found that you'll sometimes need to log out then back in again after you've done the renewal before you can close the account though, just depends what mood the internet banking is in.

kaMelo

Bridlington1 said:

If I'm not mistaken you need a balance of £5 or less to close a savings account with LBG banks. You can renew with more than £5 in it, but not close it.

As mentioned above, renew the regular saver into an easy access account, then close it. I've found that you'll sometimes need to log out then back in again after you've done the renewal before you can close the account though, just depends what mood the internet banking is in.

I've always had to log out and back in to see the changes.

Eco_Miser

If any of these recent posts were responses to me, I 'renew'ed the account just after it auto-emptied on maturity, back in June, and it just sat there, empty and uncloseable and mostly ignored until I recently wanted to open a new Regular Saver at 4.5%, and found I couldn't do that either.