Abbey or Halifax?

Legacy_user

I have read the terms and conditions of both, and cant make me mind up which one to go for. They are both offering the highest rate and terms are similar.

crana9

may have it wrong but doesnt abbey allow you to put more in every month? if so and you have more to save than the halifax min go for abbey.

otherwise maybe if you already have an acct with one ofthem you could use to put the money in before transfer? ???

System

otherwise maybe if you already have an acct with one ofthem you could use to put the money in before transfer?  ???

Yes thats an idea, the maximum amount allowed doesnt really apply to me as i will only be putting in my part time wage but it would be useful to put a lump sum in as i have been saving for months.

Speculator

The Halifax may be better as it allows you to vary your monthly payments should you want to.

Leia_Stephens

I have read the terms and conditions of both, and cant make me mind up which one to go for.  They are both offering the highest rate and terms are similar.

http://money.guardian.co.uk/creditanddebt/creditcards/story/0,1456,1331017,00.html

Because of the horrendously unethical behaviour by H mentioned in this article, I am seriously thinking of closing my 3 H a/cs and moving all the money - just over £500 - to the new Abbey a/c.

But then, that's just MO and of course everyone can make up their own minds.

Leia

System

http://money.guardian.co.uk/creditanddebt/creditcards/story/0,1456,1331017,00.html


But then, that's just MO and of course everyone can make up their own minds.

Leia

Oh Leia thats awful!!!! What a dreadful way to treat your customers.... May he rest in peace now as he certainly wasnt able to rest in life.

Fatboy_NSS

I can't see why the Halifax's behaviour was unethical. A member of staff obviously screwed up as they continued to send letters out after being notified of the death, but it's more likely to be a one off mistake rather than company policy. However the Halifax would be totally fair to expect at least a percentage of their debt to be repaid from any estate that was left.

On the original question, I'd say Abbey as they don't force you to have any other accounts with them, whereas the Halifax require you to open another savings account to get the fixed rate. However if the Halifax allow you to vary the amount you pay in each month (was didn't think you could) then this might be a better choice for you.

dawny10

I have gone for Halifax as if you have to withdraw anything, their back up account (if you choose the Websaver) pays more interest than Abbey's. You also have more choice over the account it will revert to.

PeterPauper

First came the Abbey with their 6.5%....then came Halifax with their 7.0% then Abbey replied.

....so I opened both!!!

I would say that the Halifax is slightly better but only cos it seems more flexible in being able to vary the amount. However, I would warn you to read carefully the terms and conditions of both accounts as, in my recent experience, their staff gave me incorrect information as to the details of the T&Cs.

Dont really blame them as the accounts have just been publicised and they, the staff, have been inundated. Guy at the Hailfax said it'd been manic!

Watch out for the dates the money has to be in their coffers too. Abbey forms said I could choose any date then found there were restrictions.

Still...cant grumble at 7%.
(Wonder if A&L are reading this!)

Peter

System

I eventually chose the Halifax, like Peter said, you can change the standing order but it was hell to open the account. I have had to go to the branch on three occasions to open it, two of those times they denied i had an appointment and now on the website, it says i have to submit the identification papers which i submitted the second time i went. The girl was fresh from maternity leave and didnt have a clue. Still, i stuck my ground and have got this far.

If i had more money, no doubt i would have opened one at the Abbey too.

badmumof1

i went with the halifax at 7.07 % had to go for the 60 pound a month because you cannot add to it say in three months time so i averaged it out of what i could afford and if i got some more to save away then ill put it in my nationwide account as the e savings on that are pretty good