Why only 5 Halifax Web Savers ?

jem16

It applies to any of their web savers - fixed or variable.

They used to allow up to 12. I still have around 10 as they were opened before they came up with the 5 rule. So I don't think it's anything to do with software.

Sainsbury's, who use HBOS as their banking system, allow up to 20.

KeithEssex_2

jem16 wrote: »

It applies to any of their web savers - fixed or variable.

They used to allow up to 12. I still have around 10 as they were opened before they came up with the 5 rule. So I don't think it's anything to do with software.

Sainsbury's, who use HBOS as their banking system, allow up to 20.

Thanks. Seems like the Halifax are being a bit silly by restricting it like this to new customers. I would have thought that they would be eager for any extra cash at the moment !!

Mikeyorks

As Jem says there was no practical restriction until sometime last year(?). Which was probably when even the variable ones were in reasonable demand.

With the current interest rates they're offering ..... they could up the limit to 50! The outflow of cash is only impeded by the slowness of some other providers in opening accounts!

KeithEssex_2

Mikeyorks wrote: »

As Jem says there was no practical restriction until sometime last year(?). Which was probably when even the variable ones were in reasonable demand.

With the current interest rates they're offering ..... they could up the limit to 50! The outflow of cash is only impeded by the slowness of some other providers in opening accounts!

I've tried to email them with the suggestion of raising it but they don't advise of their customer services email address anywhere !! When you phone them they swear that it's a limit within their system stopping you having any more. It's very annoying ....

Mikeyorks

It's easier just to get married and use the OH's allocation of 5 !!

Old_Slaphead

KeithEssex wrote: »

I've tried to email them with the suggestion of raising it but they don't advise of their customer services email address anywhere !!

Try -

[EMAIL="onlinehelpdesk@halifax.co.uk"]onlinehelpdesk@halifax.co.uk[/EMAIL]

Usually takes them up to 48 hours to reply

KeithEssex_2

Mikeyorks wrote: »

It's easier just to get married and use the OH's allocation of 5 !!

Steady - I don't want them THAT much !!

KeithEssex_2

Old_Slaphead wrote: »

Try -

[EMAIL="onlinehelpdesk@halifax.co.uk"]onlinehelpdesk@halifax.co.uk[/EMAIL]

Usually takes them up to 48 hours to reply

thanks for that :T - will give them a try and let everyone know what they say

KeithEssex_2

Here is the reply from the Halifax:-


"Thank you for your e-mail of 9th May 2008.

I am sorry, due to recent changes you are only allowed to open a maximum of five Web Saver Options. This, however will not affect any Webs Savers you have opened previously.


Based on customer feedback, we believe this limit is adequate for our customers. Having a limit helps us ensure the smooth and efficient operation of Web Saver accounts generally, and offer our customers great interest rates.


I trust this information helps."


The only remaining option with the Halifax is to go for a "Guaranteed Reserve" account with nearly the same rates for 6 months. Unfortunately there is no 9 month rate available.

Fixed Rate 6 Months - 6.60% (AER)
Guaranteed Reserve 6 Months - 6.50% (AER)

Fixed Rate 1 Year - 6.50% (AER)
Guaranteed Reserve 1 Year - 6.50% (AER)

These are Branch based account but are viewable "enquiry only" via the Halifax Internet Banking system.

Meltdown_2

KeithEssex wrote: »

Here is the reply from the Halifax:-

"Thank you for your e-mail of 9th May 2008.

Pretty good on the speed of reply ...

I am sorry, due to recent changes you are only allowed to open a maximum of five Web Saver Options. This, however will not affect any Webs Savers you have opened previously.

Based on customer feedback, we believe this limit is adequate for our customers.

So it's a bit of feedback they need, is it?

Having a limit helps us ensure the smooth and efficient operation of Web Saver accounts generally, and offer our customers great interest rates.

Er, how does restricting the maximum number of these accounts to 5 (for new users) whilst allowing existing holders to keep up to 12 "ensure the smooth and efficient operation of Web Saver accounts"? Just the opposite, I would have thought.
And I see no connection at all with the now not-so-great interest rates.