Halifax to relaunch regular saver @10%+

Paul_Herring

Lavendyr wrote: »

On the "apply now" page it says "Set up a monthly standing order from your bank account - you can make other deposits too, as long as the total each month doesn’t exceed £500 " but in the account conditions PDF it says you can only fund it by one monthly standing order payment. Does anyone know which is correct?
Thanks!

Are you sure it isn't talking about another account - you can make two deposits (one must be SO) to their monthly saver, for example. Which 'apply now' page are you looking at?

Paul_Herring

Paul_Herring wrote: »

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

Got sick of applying. Got them to ring me back and completed the application in under 10 minutes.

Dagobert

obsessed_saver wrote: »

Full terms and conditions PDF:
https://www.halifax.co.uk/savings/forms/generic_sav_app/forms/pdfs/1_336203-7.pdf

This is most useful - many thanks!

It confirms that the 12-months term starts with the date of the initial deposit.

However, it does not give any information with regard to the 12% interest option.

Milarky

Paul_Herring wrote: »

Are you sure it isn't talking about another account - you can make two deposits (one must be SO) to their monthly saver, for example. Which 'apply now' page are you looking at?

No, it's there in the conditions for the 'new' Regular Saver - page 4 - two pages before the Monthly Saver in the pdf linked to above

https://www.halifax.co.uk/savings/forms/generic_sav_app/forms/pdfs/1_336203-7.pdf

Key features
• One payment each month by standing
order from £25 up to £500. No standing
orders from other Halifax savings accounts.

Deposits
• Each deposit must be a regular monthly
payment by standing order of at least £25.
The maximum monthly deposit is £500.
• You can change the amount of your
monthly payment at any time without
notice, but you must continue to pay at
least £25 by standing order each month.

Put the two (slightly ambiguous) terms together and you get the conclusion that you can't make more than one payment per month to fund.

mr_fishbulb

Went into the branch at lunch an opened one. No ID needed as I already have a current account with them.

Had a 10 minute session with some lady trying to cross sell me ISAs, Investment Plans, etc. Fronted by saying they are trying to find out what's the best way for me to save - More like them trying to find the most money they can make from me.

Once they knew I was just there for the 10% reg saver I got passed over to a guy to open the account for me. All went through smoothly.

One thing I will say is I opened the Variable Rate Halifax Web Saver as my nominated account. You can open it with £1 but the guy said although it says £1 on the paperwork it will actually be opened with nothing and I have to remember to transfer £1 in there so the account doesn't get closed.

Lavendyr

Paul_Herring wrote: »

Are you sure it isn't talking about another account - you can make two deposits (one must be SO) to their monthly saver, for example. Which 'apply now' page are you looking at?

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

Second bulletpoint down.

"Set up a monthly standing order from your bank account - you can make other deposits too, as long as the total each month doesn’t exceed £500 "

Whereas in the Account Conditions pdf linked to above, on the Regular Saver page, it says you can only make one deposit.

mary

Rang at 9.30 p.m., not much waiting, through to Belfast, closed the 7% with £1,000 in it, gained £5.38 net interest. Was told the machinery would take about 2 hours to close it. The money would transfer to my websaver. The girl then informed the person in Regular Savers, that my money would be funded from my "nominated account - i.e. websaver and they would be then setting it up later today and when the system refreshed over night, I would then see the 10% RS online tomorrow. So no problems, all done in one operation and took about 10 mins.

mary

YorkshireBoy wrote: »

Just a quick question for you regular savings experts.

The SO is now set up, but has an end date of 10/6/09. Is this a problem? I thought this regular saver continued into a second year (assuming the rate is still good and I want to keep it)?

Should I amend to leave this 'date of last payment' field blank?

I wasn't sure what to do, but as it's being funded from the High Interest Current account, it can only be set up for a SO weekly or monthly but with no end date. So it's up to you at the end of the 12 months, or a bit beforehand, depending on what the new rate will be as to whether to continue or not.

So effectively it's open ended at the moment.

SuiDreams

Paul_Herring wrote: »

No. You (well the CSA) shouldn't have been able to open the 10% over the phone without the 7% being closed - the CSA should have offered to close it for you.

If you do nothing else and stop paying into the 7% it will close after a complete calendar month has passed due the the T&C's of the account. Not until maturity.

I'd get them to ring you back[1] to confirm all this, since the CSA you spoke to seems to have told you, or at least inferred at least 2 incorrect things: (a) that you can have a 7% and 10% running concurrently and (b) not paying into the 7% won't affect the maturity date.

[1] http://www.halifax.co.uk/savings/savingscallback.asp

Think I will have to call them back new regular saver was opened but can't fund it oh well will try again

kanchhelskis

I Opened One Of These Accounts To Day, Was Going To Start The Standing Order For Tommorow, Then Change It To The 1st Of Every Month Is This The Best Way To Make The Most Intrest? Thanks In Advance.