Halifax 3 moth fixed rate

alm721

Hi all, just after some advice. I rand Halifax last week to open one of their 3 month fixed rate account at 6.95%. They said I had to open a websaver to fund it with so I said I would do that as well. The opened the websaver and I got the paperwork today but they did not do the fixed rate account. They said that I had to have the websaver open before I could open the other one. The have now dropped their rate considerably on their 3 month account. Is there anything I can do? The rate was definatly 6.95% whhen I rang to open as I discussed it with the guy on the phone who told me what it was and said that it was a very good rate. Is their any milage in chasing this or should I not waste my time and look eleswhere?
Thanks

Aegis

Unfortunately they can change their offered accounts at any time, and if you don't have your money in a fixed rate, you can lose out very quickly. I doubt very much that you'll be able to get a higher rate by chasing this one, but you can try if you like?

alm721

I realise they can change I just wondered if they were right in telling me that I had to have opended the other account first and if so was wondering how long it takes to open an account. I assumed that when he said I had to open the websaver first that he did that and then opended the fixed account for me. This didn't happen. He only opened the websaver but I only realsied when I got the paperwork this morning. Hope that makes sense.
Thanks

YorkshireBoy

alm721 wrote: »

I just wondered if they were right in telling me that I had to have opended the other account first...

Interested?

If you apply now you'll be taken directly to our online service where you'll need to register with our online service. To open a fixed rate Halifax Web Saver you will need to open a variable rate Halifax Web Saver account first.

http://www.halifax.co.uk/savings/fixedwebsaver.asp

..........

KAB_3

You can't open a fixed rate web saver until you have funds available in the standard rate variable web saver to transfer across. After that, it's a 3 minute online process to open your fixed rate account. The 3 month rate might have gone down but hasn't the 6 month rate gone up?

alm721

Thanks for the replies. Looks like I missed the boat, never mind. I might look at their 6 month I just may need the money before then so the 3 month was ideal. Thanks again

Mikeyorks

As other posts - you need either a variable Websaver or a Halifax current account which is registered for online access ..... in order to open / fund the fixed rate Web. So I doubt you'll get very far with protesting?

But the 6 month rate (6.8%) is well worth considering if you can tie in that long. I suspect their 3 month rate has been so appealing - they've decided to try and hold onto funds for longer.

autocasher

i tried to open one of these this morning...i had 4 variable websavers and 1 fixed websaver already, so i closed one of the variable ones on friday. its still showing up on my account page, but as closed.

but when i went throught the app process for the 3 month fixed, right at the end it said that i couldnt proceed blah blah because i had the maximum number of websaver accounts.

so even if you have 5 and close one you cant open another right away - is that right??!! seems a bit unfair if so.

Compound_2

autocasher wrote: »

i tried to open one of these this morning...i had 4 variable websavers and 1 fixed websaver already, so i closed one of the variable ones on friday. its still showing up on my account page, but as closed.

but when i went throught the app process for the 3 month fixed, right at the end it said that i couldnt proceed blah blah because i had the maximum number of websaver accounts.

so even if you have 5 and close one you cant open another right away - is that right??!! seems a bit unfair if so.

I don't think former accounts count towards the limit of 5, otherwise matured fixed rate Web Savers would present a problem.

The problem in your case may be the process of closing the account. Surely, pressing a 'close' button once can't be enough to kill an account immediately? You must have been advised of some confirmation / security / administrative process? There is the matter of how to repay your balance, and crucially the calculation of interest due. On the former matter, it is best to withdraw your balance down to the minimum (£1) beforehand as the account will go into a state of suspension until it is fully closed, leaving your money in limbo. What has happened to your balance and accrued interest? If they have been paid to you, the account is closed and should be removed from your online list of accounts.

autocasher

i set it to close and transfer all my balance + interest into my current account on friday. it then showed the status as 'closing' - fair enough while their systems calculate the interest and transfer the funds.

today, the balance is showing up in my current account as having been transferred with the interest and the websaver account is now showing as 'closed' on my account list, and that it can be viewed for information purposes for the next 6 months. thats why i tried to open the new one today...i hope i dont have to wait until they clear it off my account list in 6 months time before opening another. if it looks like that is the case i'll have to look around elsewhere! im hoping maybe its owing to it being a weekend, and will try again tomorrow.

noh

You can remove it from your list of viewed accounts by going to "Preferences" then "add/remove account".
Don't know if this will help though.

Nigel