Halifax Reg Saver 8% - no idea where to open one !

MACKEM99

https://forums.moneysavingexpert.com/discussion/comment/82069213#Comment_82069213

I am yes and Lloyds.

PixelPound

I'm a Halifax customer, I had the old RS with a few months left, so closed it via "renewal option", then after 24hrs it showed I could open an 8% RS.

I know some have said you can't until the 12 month of the original has passed, but it seemed to allow me.

bagand96

https://forums.moneysavingexpert.com/discussion/comment/82071308#Comment_82071308

If you already have a Halifax Regular Saver you can "Refresh" it to an Everyday Saver online and they'll pay accrued interest.

You'll then be able to open the new 8% Regular Saver straight away. No need to wait, you may need to log out and log back in though.

biopolami

I got an email today to switch over to the Lloyds app from Halifax, I've only had Halifax saver accounts (no current acc). After switching I checked out the Lloyds saver products and could see a 8% monthly saver, quickly did some research and apparently it's only for Club Lloyds and Premiere customers?? I applied anyway and got my account details in seconds.

Edit: Ignore me I've just read this product launched a few days ago.

MrWannabe

Navigating to the 'Renew your savings account' option on the Halifax app is a bit challenging (almost feels like the option is hidden out of sight). But I managed to find it in the end & have today 'Renewed' my existing Regular Saver (which was paying 5.5%) to an 'Instant Saver'. The funds from my original Regular Saver (+ Interest to date) immediately transferred to the new Instant Saver account. I was then able to open a new Regular Saver which pays 8%

For anyone using the Halifax App, to 'Renew' an existing/legacy 5.5% Regular Saver, the steps to take are:

1. Log into the App & click on 'Apply' (from the banner at the very top of the screen)
2. Click on (expand) 'Savings' (there is a small piggy bank icon to the left of this option)
3. Scroll down until your reach the option titled 'Renew your savings account'
4. You will then see a list of all existing savings accounts
5. Click on 'View renewal options' & follow the instructions

Not sure why the 'Renew' option cannot be accessed/selected just by navigating to your existing Regular Saver & clicking on the three dots (which gives various options, but not 'Renew)

Hope this helps. Assume the process via the Lloyds and BoS Apps will be the same?

friolento

https://forums.moneysavingexpert.com/discussion/comment/82073204#Comment_82073204

Good spot, the option to renew in the app. It looks this is available for Lloyds and for Halifax accounts , but not for BoS accounts (at least not for me). You can renew both, Lloyds and Halifax accounts in either the Lloyds, Halifax or BoS app.

But be careful - if you renew a Halifax account through the Lloyds app (and may be also in Lloyds online), it migrates the account to Lloyds and you may or may not be able to apply for another Halifax. So it’s probably best to renew Halifax in the Halifax app, or in Halifax online.

ThePlantMan

Has anyone managed to open the 8% RS at Halifax as a new customer?

It looks like new customers can't apply for any savings/current accounts without going into the doom loop. However, it seems like it might be possible as a new customer to open a Share Dealing Account or Stocks and Shares ISA with Halifax first, and possibly if this works then apply for the RS as you would be an existing customer.

Has anyone tried this route, and did it work?

EthicsGradient

https://forums.moneysavingexpert.com/discussion/comment/82073727#Comment_82073727

I have a Scottish Widows share dealing account (another part of LBG; it used to be iWeb, and the backend was the same as Halifax share dealing), and I tried that user id, and it was not recognised.

friolento

https://forums.moneysavingexpert.com/discussion/comment/82073727#Comment_82073727

You may well be able to still open a Halifax sharedealing or pension account but I think these come with fees, so it might be counterproductive.

I believe there is a £36 per year customer administration fee (equivalent to £3/month). This single fee covers both a Share Dealing Account and a Stocks & Shares ISA if you have both. The annual fee is waived for customers aged 18–25.

You'd also be caught up in the Halifax to Lloyds migration processes, which may go smoothly but equally may be confusing. I love 8% RS accounts but I am not sure I would be that desperate for them.

gwiddecommbe

I have a Halifax credit card and Lloyds current a/c. Managed to sign up for one reg saver with Lloyds at 8% and another with Halifax at 8%. Happy days!