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Halifax Regular Saver - rate increase
Comments
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Maybe they've put a stop to people "Renewing" the account, to get the rate increase.
Is there not an option just to close the account?0 -
Halifax Ts and Cs do not advise against this, unlike Lloyds and BoS. With Halifax you can open and close multiple within 12 months, but only hold one at a time, and be fully in line with their ts and csMiddle_of_the_Road said:Maybe they've put a stop to people "Renewing" the account, to get the rate increase.
Is there not an option just to close the account?If you want me to definitely see your reply, please tag me @forumuser7 Thank you.
N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.5 -
No, the Renew option is there - it's just not working at the moment! I'll try again tomorrow.Middle_of_the_Road said:Maybe they've put a stop to people "Renewing" the account, to get the rate increase.
Is there not an option just to close the account?1 -
Thanks, was unaware Halifax had this option. Does seem a fairer policy, allowing the option to get the latest interest rate.ForumUser7 said:
Halifax Ts and Cs do not advise against this, unlike Lloyds and BoS. With Halifax you can open and close multiple within 12 months, but only hold one at a time, and be fully in line with their ts and csMiddle_of_the_Road said:Maybe they've put a stop to people "Renewing" the account, to get the rate increase.
Is there not an option just to close the account?1 -
Oh I see. Hopefully the issue should resolve itself, as it is at least giving you the option.SirHugo said:
No, the Renew option is there - it's just not working at the moment! I'll try again tomorrow.Middle_of_the_Road said:Maybe they've put a stop to people "Renewing" the account, to get the rate increase.
Is there not an option just to close the account?1 -
I got impatient and just tried again. Everything seems to be working now, account renewed successfully
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“Something’s gone wrong” is a feature of Halifax online/app. May be caused by a small drop in your connection. Nothing serious. Just try again until it’s working1
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If you close the account early - so you can open another at the better rate - what interest rate do you earn on the old account at closure (from the point of opening)? Is it the full (4.5% old rate), the everyday saver rate - or less.
Its a bit unclear on the account homepage?
https://www.halifax.co.uk/savings/fixed-term/regular-saver.html
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Penalty free closure - interest paid at 4.5% as calculated daily based on the funds you had in the accountRich2808 said:If you close the account early - so you can open another at the better rate - what interest rate do you earn on the old account at closure (from the point of opening)? Is it the full (4.5% old rate), the everyday saver rate - or less.
Its a bit unclear on the account homepage?
https://www.halifax.co.uk/savings/fixed-term/regular-saver.htmlIf you want me to definitely see your reply, please tag me @forumuser7 Thank you.
N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.5 -
There's an error in the interest rate in the email about Everyday Saver accompanying the Regular Saver opening confirmation email
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