Halifax to relaunch regular saver @10%+

ric2003

I just applied for the regular saver, the confirmation screen gave me details of my linked account, but I didn't put any linked account details in the application - confused...

have they automatically set up a new account to be the linked account?

or has their application form gone wrong and taken someone elses account details

oh well another botched online bank account. thats what you get when you outsource IT to the other side of the world

debbie42

ric2003 wrote: »

oh well another botched online bank account. thats what you get when you outsource IT to the other side of the world

I've no idea who does the IT for Halifax, but can honestly say that it has been one of the best and most reliable user interfaces I have used.

Their phone service is pretty good too. I just used the callback facility this morning and my query was answered quickly and efficiently and at no call cost to myself. I suggest you do the same if you can't resolve your problem.

meinnit

ric2003 wrote: »

I just applied for the regular saver, the confirmation screen gave me details of my linked account, but I didn't put any linked account details in the application - confused...

have they automatically set up a new account to be the linked account?

or has their application form gone wrong and taken someone elses account details

oh well another botched online bank account. thats what you get when you outsource IT to the other side of the world

Does it have anything to do with this...

http://www.halifax.co.uk/savings/regularsaver.asp

When the year’s up, your savings and interest are transferred into a nominated savings account which you'll be asked to open when you open you Halifax Regular Saver.

Paul_Herring

Closed 7% this morning < 9am - was told could take up to 2 hours to 'close' the account, then I could apply for the 10% online. Account closed within an hour.

On another note, I've been staring at the following for the past 5 minutes:

Please wait while we process your application, this can take up to 60 seconds in busy periods.

[spinning circle]

The fact that the page hasn't timed out yet gives me some hope...

(Closed 7% with £1000 in it - I got £4.98 interest.)

debbie42

meinnit wrote: »

When the year’s up, your savings and interest are transferred into a nominated savings account which you'll be asked to open when you open you Halifax Regular Saver.

Not quite how it happened for me (via the phone). I was asked if I wanted to use my currently nominated account, which is a low interest web saver. I said, no, I wanted to open and use a guaranteed saver, which was then done over the phone.

ric2003

just checked the details:

Halifax Regular SaverMinimum age 16. Sole accounts only. Only one account per person. Regular monthly payments of at least £25 by standing order. (No standing orders from other Halifax savings accounts.) If you fail to make a payment of at least £25 by standing order to reach the Regular Saver account on or before the 28th of each month, we will close your account, pay interest up to the date of closure at the current rate for Halifax Web Saver (no card) account and transfer the account balance to your linked easy access savings account.

I was thinking 'linked account' as in my current account from which the money will be going in to my regular saver, as with some other saving accounts - B&B, BM etc.

so I take it all back, very quick online application... so far anyway

mr_fishbulb

So it looks like you can fund the regular saver from any account (doesn't have to be with Halifax) "Set up a monthly standing order from your bank account"

Some of the nominated accounts have a high opening balance:

Halifax Guaranteed Saver - £2500
Variable Rate Halifax Web Saver - £10
Halifax Premium Savings Direct - £500
Halifax Saver Reward - £500
Halifax Instant Saver - £500

LongTermLurker

ric2003 wrote: »

have they automatically set up a new account to be the linked account?

Yes, they will have set up the 'default', which I guess is the Websaver

ric2003 wrote: »

oh well another botched online bank account. thats what you get when you outsource IT to the other side of the world

Bit cynical if this is your first experience of them? The helpdesk is Belfast, IT is in Halifax (unless they've moved it recently, but I don't think so). Depending where you are, it's not the other side of the world to me.

Have faith...

(edit - just seen ric's later comment above)

debbie42

mr_fishbulb wrote: »

Some of the nominated accounts have a high opening balance:

Halifax Guaranteed Saver - £2500

I think this is the best one to use if you want to save the £5K for the 2% extra. It currently pays 6.25% if you only make one withdrawal or less in a year.

Paul_Herring

Paul_Herring wrote: »

The fact that the page hasn't timed out yet gives me some hope...

Spoke too soon - it timed out after about 10 minutes. Round we go again....