Halifax to relaunch regular saver @10%+

sloughflint

1.Not sure as I don't have one but it's a web based account so maybe counter withdrawal not allowed? Someone will answer this soon for you.
2. You can have less than £2.5k but the rate plummets to that of an Instant Saver.£5k is the key figure to obtain 12% on the RS though.
3. I think you may be talking about getting 13 payments in?
4. Yes but rate may not be 10% anymore

cmac

hi
hope someone can help my mum has ask me to find somewhere to put 11k from an insurance policy shes just received, she pays no tax so i`m not too sure whats the best idea? the halifax 12% with the guarneted saver reward seemed a good idea untill I read this thread
I myself stupidly opened the 10% in april this year with A+L should have been on this site then

any ideas thanks

sloughflint

Seems like a good plan to me. What here put you off the idea,cmac?
R85 forms would need to be completed of course.

cmac

sloughflint wrote: »

Seems like a good plan to me. What here put you off the idea,cmac?
R85 forms would need to be completed of course.

Hi sloughflint
thanks for responding
i suppose its the low interest rate on the guaranted saver reward or have i read it wrong? sorry what are R85 forms?

cmac

sorry its the account that you drip feed from that seems quite slow

BallandChain

Thanks for that Sloughflint! Yes I was reading it is possible to get 13 payments in, not quite sure how that works. Also my a/c is online based hence not sure how to withdraw the money once it gets transferred to the websaver a/c.

Jazzking

BallandChain wrote: »

Thanks for that Sloughflint! Yes I was reading it is possible to get 13 payments in, not quite sure how that works. Also my a/c is online based hence not sure how to withdraw the money once it gets transferred to the websaver a/c.

I'm hoping to get 13 payments in within 12 months:

• Open account at end of June (25th ish) with a deposit of £500
• Setup SO to pay £500 on 1st of each month starting 1st July.
• 13th payment made on 1st June 09 and stays at promo rate until 'anniversary' on 25th June 09.

Ta-da (I hope!)

sloughflint

cmac wrote: »

Hi sloughflint
thanks for responding
i suppose its the low interest rate on the guaranted saver reward or have i read it wrong? sorry what are R85 forms?

The R85 form is so that your Mum doesn't get taxed at source. One form per account.
http://www.hmrc.gov.uk/forms/r85.pdf

The guaranteed saver is paying 6.25% fixed for a year so a good rate as long as your Mum doesn't withdraw.
.http://www.halifax.co.uk/savings/guaranteedsaver.asp

sloughflint

BallandChain wrote: »

Thanks for that Sloughflint! Yes I was reading it is possible to get 13 payments in, not quite sure how that works. Also my a/c is online based hence not sure how to withdraw the money once it gets transferred to the websaver a/c.

jazzking has the right idea.
Re your websaver:

Variable Rate Halifax Web Saver

A simple, easy access online savings account with the option of a cashcard.Currently offering a great rate of 5.50% gross/4.41% AER with cash card, including 1.25% gross bonus until 18 July 2008.

• Open from as little as £10 with a cash card
• Check your balance, pay bills and withdraw money online by transferring to another account
• Use the cash card to make withdrawals, print a mini-statement or check your balance 24/7 at Halifax and Bank of Scotland cash machines
• Split your savings over more than one account and call them whatever you like, e.g. holiday, car etc (open a maximum of 5 Web Saver accounts)

BallandChain

That's the problem Sloughflint the websaver a/c comes without a card! When I view online there is no facility to close the a/c (regular saver) or transfer money. I never got the option to have a card. Am I the only one with this problem?

Check out this link towards the bottom:

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

'We also offer Web Saver with all the same features as above, but without a cash card. Currently offering 4.45% AER on a balance of £25,000+. Other rates available for lower balances starting from a minimum opening balance of £1.'