Halifax fixed websaver con

laratigger

I've got a Halfax variable websaver and my fixed one has just expired. Both are joint accounts. I've tried and tried to get another fixed websaver account, but Halifax, although advertising that these can be joint accounts, have for weeks told me only an account in a sole name is possible. Is this misrepresentation?? Really annoyed :mad: Now thinking of dumping Halifax altogether.

Mikeyorks

I've got a couple of joint variable Webs ..... but the fixed ones are just individual. So have no experience of opening a 'joint fixed' ..... but as there don't appear to be separate T&Cs - I can't see how you can't have a joint one if you wish.

Can't you open one online? (EDIT ... as the option certainly exists to select individual or joint on the fixed Web initiation page. And this appears just below it "If you select 'In joint names' you are declaring a financial association with the other applicant. You declare that you are entitled to disclose information about your joint applicant. "

laratigger

Thats the frustrating part - I've applied online twice. Select 'joint' put in the details of the "second applicant" but when it gets to the end of the application, both times I have recieved an error message with a phone number. On both occassions I have called and been told we don't do joint fixed websavers.

KeithEssex_2

As an alternative have you considered the Halifax Guaranteed Reserve (branch based account)? It would be worth asking them if the same restriction applies to this type of account.

Halifax Guaranteed Reserve
Term AER Gross
6 Months 6.50% 6.40%
1 Year 6.50% 6.50%
2 Years 6.35% 6.35%

Fixed Rate Halifax Web Saver

Term AER Gross
6 Months 6.60% 6.49%
1 Year 6.60% 6.60%
2 Years 6.40% 6.40%

The rates are fixed but slightly less than the Fixed Rate Websavers. If they can do it then I guess it would also depend on what term you were interested in to see how the rates compare.

I've got the maximum number of WebSavers so have been considering this account as a "get around".

lkmc01

when it says

'You can open a maximum of 5 Web Saver accounts'

does this mean

• you can have open a maximum of 5 Web Saver accounts at once with the opened time of these accounts different or the same

or

• it is only ever a maximum of 5 Web Saver accounts per customer, for instance in the same name, a 6 month one now, following straight after by a 1 year one, then by a 3 month one, then a 6 month one, then a 2 year one, then thats your limit and you'll be refused any more.

not very clear wording I think by halifax on this

notis7

You can definitely - 100% - open a joint fixed web saver account in joint names.....I have one - a 6 month one, with my wife.....I know there was an issue when we opened ours - because when we went to branch to do it 8 months ago they had just withdrawn the option and 2 months ago when we rolled over into another 6 month the same thing happened again and we were told by the Branch Manager he would sort it out for us which he did...We were told later that Halifax open and close the restriction at random to monitor potential fraud activity and they have found this a very effective way of combating it

KeithEssex_2

lkmc01 wrote: »

when it says

'You can open a maximum of 5 Web Saver accounts'

does this mean

• you can have open a maximum of 5 Web Saver accounts at once with the opened time of these accounts different or the same

or

• it is only ever a maximum of 5 Web Saver accounts per customer, for instance in the same name, a 6 month one now, following straight after by a 1 year one, then by a 3 month one, then a 6 month one, then a 2 year one, then thats your limit and you'll be refused any more.

not very clear wording I think by halifax on this

My understanding is that it is the total number of WebSavers that are still active (.e. number of variable web savers plus number of fixed rates web savers that have not matured).

So, once the 1st one fixed rate one matures you SHOULD be allowed to apply for a new one. Don't forget that one account will be the variable rate funding account. So you can only ever have 4 active fixed rate accounts.

Meltdown_2

KeithEssex wrote: »

My understanding is that it is the total number of WebSavers that are still active (i.e. number of variable web savers plus number of fixed rates web savers that have not matured).

Yes. (It used to be more than 5 allowed, and some people still have more.)

So, once the 1st one fixed rate one matures you SHOULD be allowed to apply for a new one. Don't forget that one account will be the variable rate funding account. So you can only ever have 4 active fixed rate accounts.

I think that you can nominate a Halifax current account, that is registered for online banking, as the appropriate account for linking to your fixed websaver accounts. So in theory you could have 5 fixed websaver accounts.
(There are a number of previous threads on the subject.)

Turning to the OP a second, why does it particularly matter about the joint/individual issue for fixed-rate fixed-term (ie. no access) accounts? If opening a joint account is an issue, why not just open two separate individual accounts? Is it a tax thing?