Halifax - Fixed Rate ISA

Fella

Mikeyorks wrote: »

Logical .... but doesn't quite align with the fairly bare detail on their website :-

I totally agree, hence me confirming it with him several times. In fairness, he certainly sounded convincing & very sure of what he was doing. The fact that he twice cited the 60-day period for completing the transfer makes me think he was (hopefully) correct, that's a strange detail to have otherwise.

He did also specifically mention that he's spoken to other customers who've got the wrong idea about how this works.

Nothing to be done but wait & see I guess, but like I say, this guy sounded clued-up to me.

cheers
Fella

10_66

Thanks for the info. Don't suppose you took his name and recorded his conversation too did you!!! (Only joking). I do hope he was right. Mind you, my transfer's coming from Abbey, so God only knows how long it'll take them to transfer, as they lost the transfer in cheque - twice!

seanatlilac

I just phoned Halifax and the operator advised that I would receive the lower rate even though I opened the account transfer at 6.4% as it is the time they receive the money, she even checked with someone to make sure.

Cappsy

Fella wrote: »

Update: Just had a long & interesting conversation with a chap on the 08457 263646 number.

He said that for the fixed-rate ISA, the rate you get is the rate that was available the day the account was setup or the day the funds get transferred, whichever is the HIGHER.

I wish you luck!

seanatlilac

Checked with Halifax again today and they have confirmed that they will grant me the rate of 6.4% as long as the tranfer is complete within 60 days.

Fella

seanatlilac wrote: »

Checked with Halifax again today and they have confirmed that they will grant me the rate of 6.4% as long as the tranfer is complete within 60 days.

Did you get their name? Mine was a chap with the first initial J. Would be nice to know if there's more than one person who thinks those are the terms

seanatlilac

Fella wrote: »

Did you get their name? Mine was a chap with the first initial J. Would be nice to know if there's more than one person who thinks those are the terms

it was a lady who sounded very confident of her facts. I took the details and will now wait and see.

10_66

I checked and was told the same thing, so let's hope.

PokerPortal

In my posts above I forgot to add that I transferred my Halifax ISA to the Halifax fixed rate ISA. There was no delay and it was done during my appointment on 15 January. The confirmation letter I received a few days later was also dated 15 January and states the 4 year fixed interest of 6.5%. Transferring from another provider might cause a delay in which the interest rate might have gone down, although some of you have been told about a 60 day period. Interesting to see what rate you will get, please update when this is known.

Fella

PokerPortal wrote: »

In my posts above I forgot to add that I transferred my Halifax ISA to the Halifax fixed rate ISA. There was no delay and it was done during my appointment on 15 January. The confirmation letter I received a few days later was also dated 15 January and states the 4 year fixed interest of 6.5%. Transferring from another provider might cause a delay in which the interest rate might have gone down, although some of you have been told about a 60 day period. Interesting to see what rate you will get, please update when this is known.

Certainly the chap I spoke to was talking about transfers in from external ISAs because he quoted that (delays in receiving the money from them) as the reason that the 60-day grace period exists.

It's encouraging that other's are getting the same message. I wonder if they quote the "rate's may change" part on their website just to cover themselves in the event that some crazy rate drop occurs, but actually operate on a "you get the rate you signed up under" basis in the normal course of events?