Halifax to relaunch regular saver @10%+

Baldur

It's annoying but it's a fact of life - if you buy an HD television or a car or some other product this month and the price of the same item plummets in a couple of months' time, is the retailer going to give you a rebate?

Conversely, if the price goes up in a couple of months' time, are you going to go back and offer to pay the retailer the extra money between what you paid and the new price?

gelato_cat

Hi guys

Can I just clarify - is the most hassle-free way of doing this to:

- close existing 7% account over the phone

and then

- open new 10% account online

?

I want to avoid having to go into the branch and bring ID/sign things etc if poss.

If the above method works, how much time do I need to leave between the two steps - or can I open the new account online straightaway?

Suze

Speculator

Suzey wrote: »

Hi guys

Can I just clarify - is the most hassle-free way of doing this to:

- close existing 7% account over the phone

and then

- open new 10% account online

?

I want to avoid having to go into the branch and bring ID/sign things etc if poss.

If the above method works, how much time do I need to leave between the two steps - or can I open the new account online straightaway?

Suze

You close the old regular and open the new regular at the same time. Then they will send you a form to sign to activate the new a/c. Also, if you are a non tax payer, you can register over the phone without needing to fill out a R85 form.

No need to send any ID if you are an existing Haliax a/c holder.

Also, although the a/c is not activated, you can still fund it with your first monthly contribution by standing order. After you've opened it, the operater will give you a roll no. Use this to add the a/c to your a/c list on Halifax online and to set up your standing order.

gelato_cat

Thanks. Can you deposit into the new account before it's activated?

Suze

Speculator wrote: »

You close the old regular and open the new regular at the same time. Then they will send you a form to sign to activate the new a/c. Also, if you are a non tax payer, you can register over the phone without needing to fill out a R85 form.

No need to send any ID if you are an existing Haliax a/c holder.

Speculator

Yes, I did.

The first payment will show on the a/c list screen even though it has not been activated.

Speculator

Sorry, forgot to say that you can't add the new a/c to your online list until the next day.

free4440273

Speculator wrote: »

You close the old regular and open the new regular at the same time. Then they will send you a form to sign to activate the new a/c. Also, if you are a non tax payer, you can register over the phone without needing to fill out a R85 form.

No need to send any ID if you are an existing Haliax a/c holder.

Also, although the a/c is not activated, you can still fund it with your first monthly contribution by standing order. After you've opened it, the operater will give you a roll no. Use this to add the a/c to your a/c list on Halifax online and to set up your standing order.

Then they will send you a form to sign to activate the new a/c

I am an existing Halifax customer, but I don't have an old regular saver. What I do have is a current account and some ISAs, and online banking. So, even if I register online for the new ten per cent saver, do i STILL have to await written confirmation in the post to activate the account, as u mention? thanks

heatherw_01

I am a halifax account user, but I didn't have an old regular saver and when I signed up for the regular saver, they sent me information in the post but I didn't have to sign a form or activate anything.

free4440273

OK, so as long as one is an existing customer, the activation is basically immediate (if one has online banking as i do). hope i'm understanding that correctly.

smash

I have the same setup as you, current account and ISAs. I applied online, but by default it sets up a web saver account, so I had to call them to arrange for Guaranteed Saver. This was done on Thursday on the telephone, but I was unable to see it till friday online. They suggested I pop into the branch to sign a form which I did yesterday, but that form still needs to find it's way back to head office before the account is fully open.

But I just spoke to Halifax on the phone (as I was unable to transfer funds into the account from my current account), but they were able to do it for me. So the account should be funded in a couple of hours.