Halifax to relaunch regular saver @10%+

debbie42

worried3 wrote: »

are you sure you are not needlesly closing your 7% accounts.?

I was told (over the phone) that I couldn't have the new one unless my old one was closed. I'd only just started that so am not missing out on much interest anyway. ISTR someone earlier on this thread saying that they'd opened a second one without closing their existing one though?

Nixxx

I was given the hard sell today as well. I came away with nothing. I didn't open the account i went in for and i got sucked in listening to their rubbish.

I'm soo annoyed with myself!

Mikeyorks

worried3 wrote: »

are you sure you are not needlesly closing your 7% accounts.?

Read the earlier posts in the thread ..... which clarify beyond reasonable doubt that people have been unable to open 10% accounts where 7% accounts still exist / or where those accounts have just been closed?

LongTermLurker

Paul_Herring wrote: »

I tried online, and got stuck on the last step. I rang them up asking if I could use £500 from the 7% I'd just closed and sitting in my WebSaver to start the first deposit.

They said no. They want 'external' money to the point where (apart from being able to skirt round the T&C's and setting up a standing order online from the WebSaver) they wouldn't let me do this.

If they don't let you use 'internal' money, there's no way you can 'initiate an SO' from another bank account, so no - you can't put in the initial deposit on application.

I went in branch (they told me I had to on the phone!) and the assistant there just transferred the £500 from the old RS to the new RS - clearly there are different understandings within Hx :rolleyes:.

No hard sell either; then again, I'm not easy to sell to

Mikeyorks

Paul_Herring wrote: »

Edit - I've just realised - they specifically mention 'non-Halifax' accounts in that clause - a loophole perchance since it implies Halifax accounts can be the sender of the SO?

If you ask Halifax ... they will inevitably quote the clause that states the SO cannot come from a Halifax savings account. That has always been the case. But, as users of the 7% account long ago discovered - the Halifax software has not read the clause - and happily accepts SOs from a Websaver account. I and many others have been doing it for several years.

So have they changed the code for the 10% account? Some earlier posts suggest that is not the case. But you can but see if you can establish a SO once the 10% account is fully set up. I suspect you will be able to once the initial set up is complete.

Bit more detail + cross reference at posts #208 and #211

http://forums.moneysavingexpert.com/showthread.html?p=11584907#post11584907

Paul_Herring

Mikeyorks wrote: »

If you ask Halifax ... they will inevitably quote the clause that states the SO cannot come from a Halifax savings account.

Clearly the difference is obscured to those of us who only use the Halifax for their regular savers Thanks. Naturally the CSR didn't bother to point out this distinction to me while on the phone.

But, as users of the 7% account long ago discovered - the Halifax software has not read the clause - and happily accepts SOs from a Websaver account. I and many others have been doing it for several years.

As did I until I found a better place for the money (fixed rate bonds - I now fund from wages.) I did allude to this when I mentioned 'skirting the T&C's'

worried3

Mikeyorks wrote: »

Read the earlier posts in the thread ..... which clarify beyond reasonable doubt that people have been unable to open 10% accounts where 7% accounts still exist / or where those accounts have just been closed?

but I now have a 7% & a 10% !!

YorkshireBoy

worried3 wrote: »

but I now have a 7% & a 10% !!

Correction. You *think* you have...you haven't had your interest added yet!

One of these may be paid at the websaver rate...at some time in the future. Lets hope it's not the one you've been paying £500 a month in to. :eek:

KTF

TomJ wrote: »

I calculate you make £29.59 more by opening the RS on 28 Jun rather than 10 Jun and at 12%, £35.51. The interest you've "lost" by not having the acct open at 10% between 10 and 28 Jun is £2.47 (12%: £2.93).

I am on holiday until June 29 and will miss this 'deadline' so I guess the next window will be July 28 where I will need to:

1. Go to the branch and open a regular saver and put in £500.
2. Open the guaranteed web saver at 6.25% and put £5k in there to make it 12%
3. Change the date of the next SO to be August 1 and put in another £500.

If this is all correct is your spreadsheet clever enough to work out how much the total interest will be assuming 12x £500 @ 12% + £5k at 6.25% + £6k to feed it sitting in Kaupthing at 6.5% but decreasing by £500 each month?

YorkshireBoy

KTF wrote: »

...I guess the next window will be July 28

Isn't the account only available until 20th July?