Halifax to relaunch regular saver @10%+

joHal_4

i didn't know a little mistake gets such a telling off *holds out wrists for a slap* you gots to give a poor newbie a chance!

my message structure obviously needs brushing up, but i meant to say currently with a 7% one, not the 10% as you so kindly pointed out.

NOW, if someone could be so kind as to guide me where best to ask a question regarding reclaiming from the taxman (a joke in itself, i understand) as i was given a tip today and i am really not sure if it's true or not, and how best to claim it if it is.

many thanks.

Mikeyorks

joHal wrote: »

i think working for them gives enough information as to how the accounts work

Hmmmm ..... you clearly haven't read the rest of the thread!

uk1

Paul_Herring wrote: »

You can 'push' money in from any account that supports standing orders going out. You cannot specify this from the Halifax website.

The wording of that page is misleading. That page is asking which account you want the mature regular saver to be put in after one year, despite the wording to the left of that drop down (which gives the impression that this is where funds will come from - this is not what that selection is actually asking you.)

Put £5000 in the websaver if you are after the 12% and feed the RS from some other account.

Many thanks for taking the trouble to explain - now you've explained it, it makes sense so very much appreciated. The site is misleading and I predict there will be tears.

To just make sure I've understood.

I can feed the account from my High Interest Current Account - and create the standing order from within that account. And as long as I keep £5k in my Web Saver Account (without card!) then I should receive my 12%?

Speculator

joHal wrote: »

as i have just clarified, i think working for them gives enough information as to how the accounts work

Funny enough, I was going to ask do you work for Halifax?

Anyway, welcome to the site.

Mikeyorks

joHal wrote: »

NOW, if someone could be so kind as to guide me where best to ask a question regarding reclaiming from the taxman (a joke in itself, i understand) as i was given a tip today and i am really not sure if it's true or not, and how best to claim it if it is.

'Cutting Tax' thread ..... just a few below this forum. I'll nip down and answer it once you've posted.

i didn't know a little mistake gets such a telling off *holds out wrists for a slap* you gots to give a poor newbie a chance!

It was a friendly retort. But you lead with your chin when you post " I know because I work there" ...... and then make obvious mistakes?

joHal_4

thanks, at least someone has forgiven my not so greatly worded first posts!

i am in dire need of saving motivation after working myself into debt during some shockingly manic phases of bipolar disorder, lovely to see so many screwed on people with great ideas

Mikeyorks

uk1 wrote: »

And as long as I keep £5k in my Web Saver Account (without card!) then I should receive my 12%?

Yes ... but at 4.4% (?) ... do you really want to do that? Why not open the (can't remember the exact title ) Guaranteed ?? Reward at 6.25% and set that as your 'nominated' account?

Later

Link to it here. It's not directly referenced as a 'nominated' type of account. But it's actually the same as the Guaranteed Saver (which is a nominee) - you just get the extra 1% 'Reward' if you only make 0 -1 withdrawals. Which, of course, you must not do if you only have the min £5k in there to generate the extra 2% on the Reg saver :-

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

joHal_4

Mikeyorks wrote: »

'Cutting Tax' thread ..... just a few below this forum. I'll nip down and answer it once you've posted.



It was a friendly retort. But you lead with your chin when you post " I know because I work there" ...... and then make obvious mistakes?

ah well, i'm only human

i found the thread i was after (the uniform washing one) but i'll have a good trawl through and see if it's already been answered. cheers

Mikeyorks

joHal wrote: »

i found the thread i was after (the uniform washing one) but i'll have a good trawl through and see if it's already been answered. cheers

Many prior threads on that (with HMRC links) - go back through the previous pages or use the 'Search' at the top of the Cutting Tax forum and just input the single word 'uniform' (without quotes)

Sillychuckie

Doing things my way does maximise it. Its basic regular saver technique.

By applying say on 29th of June and first funding on 30th June (forget the fact its a week end, this is just an example), and then paying your 2nd payment on 1st July, you already have £1000 in your account and have only had it open for a few days.

Considering you get the most advantage out of the account towards the end of the term when you have the most money in there, doing things this way will mean you have the larger sum in there for a slightly longer period of time.

Compare this to say putting in £500 on 1st July, £500 on 1st August. I'd have an extra £500 in than you, and your account would mature only 1 day later. I'd get a better pay out at the end of it.
If an account only lasts for a fix period of time (365 days), and it has a good rate, you are going to want to get as much of the money in as soon as possible to maximise the return.

SC.