Halifax to relaunch regular saver @10%+

liverpoolcarl

Can you manually create the SO in your current account via online banking?

reliable65

thumshie wrote: »

The requirement is to keep £5000 in your nominated account - defined when the Regular saver is set up. I doubt you're allowed to change your nominated account through the year, so the £5000 has to say in the same account for the 12 months..IMHO

SO IF I PUT £5000 IN THE NOMINATED ACCOUNT, THEN 12 X £500 MONTHLY PAYMENTS (£6000) ALL IN ONE GO I CAN THEN SET UP A DIRECT DEBIT FROM THE NOMINATED ACCOUNT TO PAY THE REGULAR SAVER?

KTF

liverpoolcarl wrote: »

Can you manually create the SO in your current account via online banking?

Yes, you set it up just like any other SO using the account number and sort code given during the application process.

thumshie

reliable65 wrote: »

SO IF I PUT £5000 IN THE NOMINATED ACCOUNT, THEN 12 X £500 MONTHLY PAYMENTS (£6000) ALL IN ONE GO I CAN THEN SET UP A DIRECT DEBIT FROM THE NOMINATED ACCOUNT TO PAY THE REGULAR SAVER?

This is a YES and NO.

Yes you can set it up this way, however the T's&C's say the SO can't be from a halifax savings account.

Also, if your using the Guaranteed Saver reward account at 6.25 - the only account which makes the 12% more profitable - you can only make 1 withdrawal not 12...

reliable65

thumshie wrote: »

This is a YES and NO.

Yes you can set it up this way, however the T's&C's say the SO can't be from a halifax savings account.

Also, if your using the Guaranteed Saver reward account at 6.25 - the only account which makes the 12% more profitable - you can only make 1 withdrawal not 12...

IM CONFUSED

So the standing order will have to come from my current account which only pays .10 % interest?)

i dont fancy sticking the 12 grand ( x2 regular savers) in there just for the standing order etc

KTF

The standing order can come from any current account.

Normally you wouldnt hold the full amount in a current account but instead put it in an instant access savings account then, once a month, transfer out 500 to the current account then from the current account over to the regular saver.

reliable65

THANKS ktf

one last question

can i just go to halifax and pay £500 into the regular saver that i have set up?

borntobefree

Signed up on line. Now I have to wait for a temporary password through the post.

KTF

reliable65 wrote: »

THANKS ktf

one last question

can i just go to halifax and pay £500 into the regular saver that i have set up?

I believe you can only deposit money via standing order only so you would have to to a transfer from your current account.

tiptoe_mouse

reliable65:

There are savings accounts that allow BACS transfers to be made to any account with a sort code and account number. Egg is one example, but I'm sure there's a thread around here somewhere with higher paying ones. You'd need to initiate each transfer yourself, but Halifax won't be able to tell the difference between that and a standing order. Don't forget a payment, though!

tiptoe