Halifax to relaunch regular saver @10%+

Dagobert

Dagobert wrote:

When you sign up over the phone, do they give you sort code and account number straight away so that one can make a payment immediately without having to wait for the paperwork to come through?

SuiDreams wrote: »

Yes they do.

When existing account holders sign up over the phone, can they get the initial funding taken from their HBOS current account and is this immediate?


I want to open the account to-morrow (Friday 27th) and would like to save myself a 26m trip to the branch.

debbie42

Compound wrote: »

I was wondering what are people's views about making 30 June the anniversary of the account, to maximize the interest.

Sounds like a lot of hassle and potential uncertainty just to make an extra couple of pounds to me!

DUS

I am pretty sure I´ve read it somewhere in this thread but was unable to locate it, so please apologise for me asking again:

I switched the nominated account from the Web Saver (which had been automatically opened when I applied online for the RS) to the GS account. My question is, if the Guaranteed Saver will automatically become the "Reward" version paying 6.25% provided that I fulfill the requirements (e.g. 0 - 1 withdrawals/year, etc.). Or should I have specifically opened the GS Reward account in order to get the 6.25%?

Thanks for your help/answers.

DUS

debbie42

DUS wrote: »

My question is, if the Guaranteed Saver will automatically become the "Reward" version paying 6.25% provided that I fulfill the requirements

Yes, they are the same account, but you get the bonus at the end of the year if you meet the conditions.

DUS

Thx debbie42!

sloughflint

sloughflint wrote: »

I've just tried to set up an internal transfer to the guaranteed saver. Seemed to set up fine but then wouldn't let me do a test transfer of £1.
Is it because the amount is too small? How did others fund the account?

Had more difficulties trying to fund the guaranteed saver. Had to ring to get the transfer done and it still hasn't happened.:mad:
Apparently the transfers have to be done manually in order for people to get registered for the 12%. Normally the process would be done within 2 hours but due to popular demand they are backing up to 24 hours.
I mentioned that it would have been helpful if the IB site said to call to transfer rather than a bland 'please try again later'.:mad:
Anyone else having difficulties? Have I been fed rubbish or is it true this time?

Compound_2

DUS wrote: »

I switched the nominated account from the Web Saver (which had been automatically opened when I applied online for the RS) to the GS account.

This seems like the best strategy for getting round the problem of not being able link the GS to the RS online. Each account can be opened online, but not together. Opening together in branch leads to problems of appointments and sales pressure. Opening together over the phone leads to problems of having to wait for activation while the forms are in the post plus possibly having to provide ID.

So, for existing Online customers, it seems the best strategy is:
1. Open RS online linked to Web Saver.
2. Wait for first standing order to hit RS.
3. Open Guaranteed Saver online with £5000.
4. Change the nominated account from Web Saver to GS.

You have 14 days for steps 3 & 4. Step 2 is important as the GS Reward runs 12 months from GS opening date: you don't want your £5000 to have a lower rate for a few days while awaiting RS maturity.

The feasibility of the above depends on the ease with which the nominated account can be changed (it can't be done online) and whether this complicates qualification for the 12%. Hopefully Halifax will be cooperative, because if you closed the Web Saver they would have no choice but to change the linked account.

sloughflint wrote: »

Had more difficulties trying to fund the guaranteed saver. Had to ring to get the transfer done and it still hasn't happened.:mad:
Apparently the transfers have to be done manually in order for people to get registered for the 12%. Normally the process would be done within 2 hours but due to popular demand they are backing up to 24 hours.
I mentioned that it would have been helpful if the IB site said to call to transfer rather than a bland 'please try again later'.:mad:
Anyone else having difficulties? Have I been fed rubbish or is it true this time?

This is new to me. Obviously, it affects the feasibility of my strategy. The T&C just require the balance of the GS to reach £5000 any way by 14 days after RS opening deposit to qualify for 12%.

sloughflint

Further to my post above , the transfer has taken place now. Phew!

So if you see the message 'please try again later' read that to mean 'call us up and we'll manually do the transfer'

debbie42

sloughflint wrote: »

Further to my post above , the transfer has taken place now. Phew!

So if you see the message 'please try again later' read that to mean 'call us up and we'll manually do the transfer'

I had no end of trouble funding my Saver, too. They did say the first transfer had to be manual, fair enough, so I had to ring up about that. On the phone they said two hours, but it ended up being nearly two days. I still couldn't transfer over the internet, so rang again, and tried another phone transfer. This was still not showing 3 days later (admittedly over a weekend). Rang again to be informed that I hadn't met security criteria. What? Well, thanks for letting me know! Eventually I managed to sort out an electronic internet driven transfer. Now it has the 5K in so I can relax, hopefully.

sloughflint

Compound wrote: »

The feasibility of the above depends on the ease with which the nominated account can be changed (it can't be done online) and whether this complicates qualification for the 12%. Hopefully Halifax will be cooperative, because if you closed the Web Saver they would have no choice but to change the linked account.

I can't be bothered to check, but I seem to remember reading further back that the nominated account could not be changed (T&Cs). Apologies if I'm wrong.