Halifax to relaunch regular saver @10%+

LongTermLurker

liverpoolcarl wrote: »

Yorkshireboy, going to borrow the money out of my business and then put it back later in the month..

Hope you're going to pay your business interest on the loan :rolleyes:

liverpoolcarl

No business loan or overdraft, using the profit!!

nrsql

I opened the accout and transferred £25 from Egg. I then transferred £475.
That was before I received the pack from Halifax.
It takes a while to set up a SO and was in a rush. From the web site I thought this would be ok.

Have I lost the 10% through doing this or should I still let the SO go through for next month?

RichyRich

I've today opened a Halifax 10% Regular Saver Account and set up the standing order from my Alliance & Leicester Premier Direct Account to leave on 1 July 2008 (get paid last Thursday of every month so it makes sense to use this date).

From the messages people have put on here it seems like there's a benefit in sending the first payment immediately then making a second payment on 1 July?

Is this right? If so, what's the benefit?

Or does the account require an immediate payment to come now, followed by usual payments on the first of every month?

Thanks in advance for your help
Richard

BallandChain

I think the advantage to paying in the a/c as early as possible is because you earn interest on your money sooner. I opened my a/c a few days ago, paid in my first payment that very day and set up my S/O for the 1st of each month thereafter. Interest is accruing as soon as you pay in.

humfer

Just opened one of these and set up the first SO to go out tomorrow. Will then change SO so next goes out on 1st July. Account will mature on 23Jun09, so I calculate that as being able to make 13 payments (£6,500). Is this correct? Roughly what interest will get paid? Apologies if this has been answered before but had a quick look through the 20-odd pages and couldn't find the answer

LongTermLurker

humfer wrote: »

Just opened one of these and set up the first SO to go out tomorrow. Will then change SO so next goes out on 1st July. Account will mature on 23Jun09, so I calculate that as being able to make 13 payments (£6,500). Is this correct? Roughly what interest will get paid? Apologies if this has been answered before but had a quick look through the 20-odd pages and couldn't find the answer

See my post #645 1 page back http://forums.moneysavingexpert.com/showpost.html?p=11909329&postcount=645

That should explain the issue

MORPH3US

Don't know if this would cause problems, or has happened to anyone else...

but when I first opened the account online it gave me an account number and sort code... I immediately set up a standing order to pay into that account, but today I just checked the confirmation letter.... the sort code and account number on the letter are totally different.

Luckily the payment hadn't gone yet, but god knows where it would have ended up if it had...

M

LongTermLurker

MORPH3US wrote: »

Don't know if this would cause problems, or has happened to anyone else...

but when I first opened the account online it gave me an account number and sort code... I immediately set up a standing order to pay into that account, but today I just checked the confirmation letter.... the sort code and account number on the letter are totally different.

Luckily the payment hadn't gone yet, but god knows where it would have ended up if it had...

M

oo-er that's worrying

RichyRich

MORPH3US wrote: »

Don't know if this would cause problems, or has happened to anyone else...

but when I first opened the account online it gave me an account number and sort code... I immediately set up a standing order to pay into that account, but today I just checked the confirmation letter.... the sort code and account number on the letter are totally different.

Luckily the payment hadn't gone yet, but god knows where it would have ended up if it had...

M

I opened today and was given two sort code/account no/roll no combos

The first was for the Regular Saver
The second was for the "Linked Account" (though I find this strange, as at no point did I specify what kind of account - websaver etc - I wished to have as the linked account).

Are you sure you didn't write the linked a/c no down rather than the RS one?

Ta
Rich