Halifax to relaunch regular saver @10%+

tiptoe_mouse

In fact they've already altered the webpage in one respect. Compare the current wording

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

with that from a few days ago

Set up a monthly standing order from your bank account - you can make other deposits too, as long as the total each month doesn’t exceed £500

If in fact neither is true, is this misleading advertising? Who can we complain to? Can we get Martin to investigate?

I think to be on the safe side, I'm going to stick with one payment a month, altering it as required. Not sure if I should
(a) risk the "faster payments" approach (eg manual transfers from Tesco account); or
(b) go for manual transfers from egg account, in the hope that since these are not "faster payments" then Halifax won't know they're not a standing order; or
(c) play it safe with a standing order from my current account.

It was a lot simpler in the old days when if you were a non-taxpayer, as I was, you went for the national savings investment account as you couldn't get gross interest from a bank or building society.

tiptoe

pmorrison_2

Hi, Im looking to open a Regular Saver wtih Halifax and have been looking throught this thread (although not all of it) and couldnt find what people suggest is the best nominated account to open with it.

I wont be using this account and at the end of the year will switch it to a better account anyway so does it really matter? From what I can see the 'Variable Rate Web Saver' is probably the best as it has a higher interest rate but wothout needing to put more than £10 into it if I dont want to. Is this what others are going for?

tiptoe_mouse

pmorrison wrote: »

Hi, Im looking to open a Regular Saver wtih Halifax and have been looking throught this thread (although not all of it) and couldnt find what people suggest is the best nominated account to open with it.

I wont be using this account and at the end of the year will switch it to a better account anyway so does it really matter? From what I can see the 'Variable Rate Web Saver' is probably the best as it has a higher interest rate but wothout needing to put more than £10 into it if I dont want to. Is this what others are going for?

Note that the variable rate web saver with cashcard is paying 5.5% only until 18th July 2008, when it drops to 4.25%. The version without a cashcard (which is what you get if you open your regular saver account online) is paying 4.36% for £1 upwards.

But as you point out, if you plan on moving the proceeds of your regular saver out of the websaver promptly, it doesn't matter much.

tiptoe

david78

shazkhan111 wrote: »

has anyone else received this letter??

Yes, got a letter from the Halifax today (I have the 7% RS account). The letter says

"I am writing to tell you we will be increasing the amount that you can pay into your Halifax Regular Saver each month from £250 to £500. This change will take effect from 9th June 2008.

If you would like to change your monthly payment and your standing order comes from a Halifax or Bank of Scotland account then please call into your local branch or call 08457 26 36 46.

If your standing order comes from an account with another bank, please contact your bank to make this change".

Paul_Herring

LittleVoice wrote: »

Thanked you when I meant to "quote". I'm afraid you and regularsaver1 are incorrect. To quote from the Halifax website regarding the regular saver:

'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 '

I think the T&C's override anything on the website, and the T&C'a state a maximum of one payment.

They are quite welcome to allow additional payments when they change their T&C's.

Paul_Herring

caroleiw wrote: »

[running 2 RS at the same time]
I queried this but she said it was fine and if I wasn't allowed to it would flag it on the system.

She's wrong (going by the T&C's and my own experience of trying to get the 10%) and you'll lose one of them eventually (I'm guessing the 10%.) Get another member of staff (or ring up) to confirm this.

If you get confirmation that you are allowed 2, get a 3rd person to confirm it.

If you manage this I suspect there will be a lot of people (I'll be among them) mildly peeved that they had to cancel their 7% to get the 10%.

MORPH3US

The website agrees with LittleVoice....

Have taken a screen shot of the website to prevent any problems at a later date...

lindos90

Hi, thanks for this thread, just applied for it online, very speedy!!

Can anyone who applied on-line settle an argument for me please.....

After completing all the info, it gave me my account number for the regular saver and ther other account immediatly, then said I would be receiving two letters in the next two weeks about registering with the online banking, do I have to wait for this before setting up a SO (it will be set up from A&L current account)

My OH says I need to sign some forms and post them back before the RS account is activated to accept OS, I believe the 'activation' is reguarding the Halifax online banking, which I dont feel I need in order pay OS in, its just that I would not be able to see if/when its cleared online until I register with online banking, whos correct???

Im keeping my fingers crossed I am (because I like to be right of course) but also as I would like to get £500 in before the end of june, and then alter my OS date to say 1st or 2nd, so my july quota gets in really early, as someone suggested earlier in this thread i think.. but the clocks ticking!!

Mikeyorks

lindos90 wrote: »

do I have to wait for this before setting up a SO (it will be set up from A&L current account)

No. If you set it up online then you accepted the T&Cs therefore the account is 'active'. You can set up the SO if you have all the appropriate details for the account (Sort Code / Account number and Roll Number (you put in the Reference field)).

Most of the delays have been where people have opened over the telephone and the account is inactive until you've returned the document confirming acceptance of the T&Cs (or, more exceptionally, had to provide ID). But even where the account is inactive ... you can still SO to it. I've just had to do that tonight as mine are still showing 'awaiting details' .. which they tell me can take a further 7 days to clear after returning the acceptance documents.

lindos90

Mikeyorks wrote: »

I've just had to do that tonight as mine are still showing 'awaiting details' .. which they tell me can take a further 7 days to clear after returning the acceptance documents.

OOOOh thank you Mikey, I'll sleep with asmug expression on my face tonight!!

Not sure what the last bit ment though, do you mean you set it up over the phone?