Halifax to relaunch regular saver @10%+

rdownesy

I set up an account online yesterday and at the end of the process it says that funding needs to be in the account by the 28th of each month. If you are transferring money from another bank, then this needs to be in by 23rd. As I only set this up yesterday, do I need to make sure the money is in for 23rd of this month? I just went into a branch to ask that question but the only member of staff I could speak to seemed to know less than I did

YorkshireBoy

rdownesy wrote: »

If you are transferring money from another bank, then this needs to be in by 23rd.

You've mis-read it. You need to initiate the standing order on the 23rd...to allow for a 3-day BACS transfer + a weekend scenario.

Funding so late in the month would be pretty dangerous though, since you'd need to allow 7 days at Easter and Xmas.

Far better to fund at the start of the month IMHO.

reformedEffortMaker_2

Hi everyone
I recieved a letter from halifax today confirming the opening of my regular saver account, however the letter (even though I had received an error msg when i tried to open on line??!!), however the letter stated I could only pay £25-£250 per month!!
When i called up to clarify, the man on the phone stated it was just an 'old template letter' that had been sent out, and the new monthly amount was £500 as stated on their website-has anyone else received the 'old template letter?'

MORPH3US

Got a letter, but its downstairs and i'm in bed so can't be arsed to go down and check...

Will have a look tomorrow for you matey.

M

Mikeyorks

reformedEffortMaker wrote: »

has anyone else received the 'old template letter?'

Covered much earlier in the thread - to that effect. But apparently an A5 insert clarifying the limit is £500. Mine had a booklet enclosed ... stating the £25 - £500 range.

Mikeyorks

carpy wrote: »

what's the verdict on the 5k to get 12%?

i thought someone had calculated in wasn't worthwhile but then i saw a more recent post suggesting it is???

The breakpoint to make the extra 2% worthwhile .... is that the £5k is saved at a rate above circa 5.85%. Which you can only do with the Guaranteed Saver (Reward) at 6.25%. None of the other accounts Halifax accept as generating the extra 2% .... justify depositing £5k (unless you happen to already have £5k+ in one of their enabling accounts and are happy to leave it?).

Worth making the point. The RS has to be an individual account. But the Guaranteed Saver can be joint. So you can pop £5k in a joint account .... and link it to both RS's to justify the extra 2% on both. Covered earlier in the thread - and something I also clarified with Halifax when I opened the Guaranteed Saver. As this has to be attached 'manually' ... you can't do it online.

SuiDreams

Is everyone still funding this by Standing order or is anyone risking individual Faster Payments

SilentMinority

I still have the 7% RS account and I was intending to close it and open the 10% RS today (and a Guaranteed Saver).

I just received my post and it includes a letter from Halifax informing me that the maximum amount for paying in to my RS increased from £250 to £500 with effect from 9th June 2008.

Could it be that the 7% RS is, at least partially, morphing into the 10% RS?

trashcan_2

When I opened my regular saver, they also opened a websaver without card account, probably like you. I gave them a ring because I thought I could change this to one with a card but alas, No. I would have to open one with card as well as one without card. Did I understand this right? I am sure I read you could have websaver with card or without card.

caroleiw

I opened a new 10% RS yesterday along with the guaranteed saver and didn't have to close the 7% RS which I started a couple of months ago. I queried this but she said it was fine and if I wasn't allowed to it would flag it on the system.

It's all set up and have now added it to my online banking screen so assume it's all ok. I've moved the £5000 I had in the Tesco savings account (which should give me 1500 club card points) into the guaranteed saver so I'll get 12% on the RS.

It was opened in the Bexleyheath branch but the conflicting advice does seem a bit strange.