Reg Saver S/O question

opinions4u

Lady_K wrote: »

Regarding the 13 payments with continuing Halifax reg saver

Please let me know if anyone thinks this will mess up my account so I can change the direct debit again if necessary

My 12th payment went in on 1st Sept,
Account matured and transferred to web saver on 4th Sept,
Now changed dd to 28th Sept (2nd payment in month but 1st payment of year)
Will then change dd to 1st Oct for 2nd payment of year to go in

Whats the chances of this working please?

It will work.

noh wrote: »

I think they will bounce the payment back as it is the second payment in the month.
There is no harm in trying though.

They will accept multiple payments in the same month. While this contradicts the T&Cs they have no system to pick up multiple payments.

noh

I think they will bounce the payment back as it is the second payment in the month.
There is no harm in trying though.

Lady_K

Can only be sure if someone else has done it really. If I try though I don't want them to sting me for it. I have got a feeling though I did try it last year and they sent it back, its not in my records though for me to check as all the transactions dissapeared afterwards

Newly_retired

I have a S.O. for £250 per month into my Halifax Regular Saver, then most months I add a further £250 manually. No problems as long as it doesn't exceed £500 per month.

jimbow25

Regarding lady k's question - post #2 of this thread seems to warn your plan won't work, due to the way the sweeping arrangement works. Unless anyone knows their system has changed.

As you've already made the September 1st deposit it wouldn't hurt to try another one in Sept though - worst case scenario seems to be that this £500 deposit is swept out and you'll only be able to make 11 deposits.

As your 1st September deposit was £250 a further 250 deposit in September may be fine as it fits with what 'newly retired' says above.

Lady_K

Thats what I was thinking I might do that or just put it in myself like he does and then just put the dd to 1st at 500


I was just talking to my daughter whos reg saver matures tomorrow although its in her web account today does this interest sound right as it seems a bit low to me

her first payment was 1st October 2008 and shes made 12 payments of £250 all on 1st of month without fail

her interest is just over £89 is that right do you think as I'm sure it should still have been at 7% as it was before the intewrest rates dropped wasnt it?

Lady_K

I just went to add a manual payment to my reg saver and the reg saver is not in the drop down window for transferring with my own accounts

Baldur

Lady_K wrote: »

I was just talking to my daughter whos reg saver matures tomorrow although its in her web account today does this interest sound right as it seems a bit low to me

her first payment was 1st October 2008 and shes made 12 payments of £250 all on 1st of month without fail

her interest is just over £89 is that right do you think as I'm sure it should still have been at 7% as it was before the interest rates dropped wasnt it?

I make it roughly £89.83 at 7% after basic rate tax.

noh

Lady_K wrote: »

I just went to add a manual payment to my reg saver and the reg saver is not in the drop down window for transferring with my own accounts

Thats right.

You will have to do a transfer using the sort code and account number of the regular saver.

Lady_K

I just tried that and got this message, I made sure all the details were correct

We are sorry, we are unable to complete your request. This could be because:

. You are trying to transfer the whole balance from a savings account. You must leave a balance in the account.
. The receiving account is closed or not set up to receive credits online.
. The receiving account details are invalid.

I really don't understand it if others can do it, I'm just trying to transfer from halifax current account, they may have changed the rules