Halifax to relaunch regular saver @10%+

trashcan_2

Thanks Lavendyr, Thats been very helpful.

Cheers.

Looeess_2

Well, I logged on to Halifax online banking aiming to close my 7% RS (which I'd only just started paying into) and apply for the new 10% RS. Only to find Halifax have gone ahead and cleared all funds out of the 7% RS (into another savings acct thankfully). I've not had any contact from them to say they were going to do this.

However, they haven't actually closed the account and oddly there doesn't seem to be an option for me to do so online for this account.

So, I will have to call them tomorrow to close the 7% before I attempt to open the 10%.

bootman

Went into my branch to open one today, the blummin woman was trying to sell me everything under the sun, why is it always me they pick on!

gzed

oldfella wrote: »

The 2% bonus is paid if you have £5000 in any account with HBOS if not you get 10%

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does this include web saver fixed interest ?

and what about ISAs?

gzed

My lloyds TSB regular saver ends in september. I probably will open this 10% (possibly 12%?) account now using money from my ISA for the 1st couple of month and the initial deposit from an online saver (I don't have enough on the online saver to feed in for this period, especially since I have to pay car tax and insurance next month) and then use the money from the LLoyds Saver. I don't really want to take money out of my ISA but it will only be 2x £500 for July/August.

Or i could take some out of my ISA investor (or can't I). The investor is probably the worse thing I have ever opened...

Frugality_2

MSE says that if there is a savings account with such a high rate as 10% (i.e way above my Lloyds ISA rate of a lousy 4%) then it is probably better to fill up this savings account.

Surely not? Because if i use my ISA allowance, in the long run it should be the aim to max out your ISA first so monies are accumulated every year??

Maybe not so clear: what im saying is, I dont know whether to fill up my 3.6k in my ISA or fill up this Halifax 10%.

Dopple

Frugality wrote: »

MSE says that if there is a savings account with such a high rate as 10% (i.e way above my Lloyds ISA rate of a lousy 4%) then it is probably better to fill up this savings account.

Surely not? Because if i use my ISA allowance, in the long run it should be the aim to max out your ISA first so monies are accumulated every year??

Maybe not so clear: what im saying is, I dont know whether to fill up my 3.6k in my ISA or fill up this Halifax 10%.

If you paying the 3.6k into your ISA in one go then that is the better option (not the Lloyds one but a top-paying one, about 6%-ish).
If you drip-feeding over several months go for the Halifax 10%.

LittleVoice

Lychee wrote: »

It's a long thread so I might have missed it.

Additional payments on top of the SO, must it be paid over the counter in branch or can it be done via bank transfer from another bank's current account?

i.e. SO £25 from HSBC current account into Regular Saver, any extra cash I can manage I transfer from HSBC to Regular Saver.

What happens if one goes over the £500 monthly limit?

Thank you.

From the Halifax website section giving some details of the account:
"Set up a monthly standing order from your bank account - you can make additional deposits by standing order too, as long as the total each month doesn’t exceed £500"

Though information on MSE site is well worth reading, do get into the practice of reading the official terms and conditions which the various institutions provide. And keep a copy for reference in the future too.

evosy1978

ok guys

ive just opened this account online, very quick .
there now doing id and credit checks.
Im going to take id into the branch on saturday.
I have both account details with me now. one is the RS and one is the nominated Halifax account.

I will be putting in maximum money.

so do i now go to my usual bank account and set up a standing order to the nominated halifax and then when everythings set up and im online with them I then set up another standing order from the nominated account to the RS???

OR do I just now go to my usual bank and set up a standing order to the RS???

ALso what date shall i set it up to go out on. E.g tommorrow or have i got to wait till they have done credit checks???

thanks

PosterBoy77

Paul_Herring wrote: »

But you don't have the T&C's.

You surely didn't sign up for something without reading the T&C's? (Which clearly state that it is one regular saver per person.)

I'm afraid you won't have a leg to stand on if you rely solely on the (wrong) information provided by an untrained member of staff - the T&C's will take precedence.

It's not as if the staff member was an IFA where you do have a grievance procedure if they tell you wrong stuff regardless of any T&C's.

I'm sorry, but I believe you should sort this out yourself - sooner rather than later. I don't think you'll get very far if you wait for Halifax to sort this out in a way you don't think is 'fair'

Well obviously I have been following this thread and know what people here say the situation is. However, when I walk into a branch, they do not know that. I don't need to read the Terms and conditions if everything I need to know has been explained. I am aware that I am putting money into a savings account for 12 months and after that I get my money back. The term stating one regular saver per customer could be taken either way. I could take it to mean one regular saver of the new version. As far as the banking code is concerned, the bank needs to know its own product. It is not for me to assume that all bank staff are untrained and I know their job better. If at some stage they contact me and tell me I cannot have both, then I will have a very good case. I specifically confirmed I could have both with the staff in the branch.

In no other business could anyone sell you something and try and change it retrospecively, once having sold it.

I have managed to open accounts I should not have been able to get with abbey in the past and nobody has noticed. The accounts ran their term and I got all the interest due. I suspect the same thing is likely here.