Halifax to relaunch regular saver @10%+

tiptoe_mouse

That doesn't sound right to me.Especially if the branch have accepted your ID.

Doesn't surprise me in the slightest.

At the end of my online application, I got a message saying I needed to take my ID into a branch. I'd had an account previously with the Halifax, that I'd closed. I found I could get on to online banking, and both accounts appeared as "awaiting details".

I took my ID into the branch, along with the sort code and account number for both the regular saver and the websaver. The cashier spent a considerable time entering my passport number, the telephone number and address of my bank (and any other details they could find off my passport and bank statement) into their computer.

After this visit, the regular saver immediately appeared properly on online banking, but the regular saver did not - it was still "awaiting details".

I waited a few days, before ringing Halifax to ask why this was. First she says there are no signs that my branch have verified my ID. Then she asks which branch it was, and whether it was "an agency". I reply that I don't know what she means, but it's not an estate agents, if that's what she's getting at. There follows a few more exchanges along the lines of:

Halifax: "No, I asked whether it was an agency"
me: "What do you mean? How can I tell?"
Halifax: "Was...it...an...agency?"
etc

Finally I was told I would have to wait "whilst the forms are sent to head office". She couldn't tell me why one account was up and running and the other wasn't. I did explain that I'd applied online, so there was no application form for them to send anywhere!

A few more days, and I was passing a Halifax branch (in fact the one where I took my ID originally). I went in and asked again, only to be told I needed to wait "whilst the forms are sent to head office". I pointed out that one account had been activated immediately by her colleague previously, and ventured the possibility that perhaps the ID details needed to be entered for the second account. No, she was adamant that all I needed to do was wait.

More days pass, and I'm becoming increasingly suspicious. I'm waiting to fund the regular saver account until I know both are set up okay. I ring Halifax again. This time I am confronted by an adviser who tells me that she cannot tell me what is happening with my accounts because she can't verify my identity. Why not? Because I've not long opened the account, therefore she was "limited as to what security questions she could ask me". I'd got the first one wrong, which was "on what date did you open the account?" She told me I'd need to visit the branch to find out. I asked whether I should take my ID documents with me again, and she says yes.

So I make my third visit to the branch, with ID. I see a third member of staff, who on consulting their computer comments "Well I don't know why they didn't enter your ID details on both accounts instead of just one". She then apologises, and tells me I'll have to bring in my ID again. At which point I whisk out the documents, and finally get the second account up and running.

Somehow I don't think these people will be getting my current account business anytime soon

Good luck everyone,
tiptoe

debbie42

I do have my current account with the Halifax, and have had for around 20 years now. I am happy with it.

Having said that, I had similar problems with opening this RS + Guaranteed Saver with i.d. requirements. Quite why they need all that when they have all my current account details and other savings is anybody's guess? First started over the phone, then in a branch, then in an agency, then another branch. Then 2 more phone calls. It's working now, thank goodness.

tiptoe_mouse

debbie42 wrote: »

I do have my current account with the Halifax, and have had for around 20 years now. I am happy with it.

Having said that, I had similar problems with opening this RS + Guaranteed Saver with i.d. requirements. Quite why they need all that when they have all my current account details and other savings is anybody's guess? First started over the phone, then in a branch, then in an agency, then another branch. Then 2 more phone calls. It's working now, thank goodness.

Ah... maybe you could enlighten me then as to what they mean by agency

tiptoe

YorkshireBoy

tiptoe_mouse wrote: »

Ah... maybe you could enlighten me then as to what they mean by agency

**Independent Agencies - Generally a counter facility only, check with agency for details of other facilities available.

http://www.multimap.com/clients/places.cgi?client=halifax

..........

YorkshireBoy

debbie42 wrote: »

Quite why they need all that when they have all my current account details and other savings is anybody's guess?

I think it's to do with AML procedures/compliance.

I'd been with Yorkshire Bank for nearly 28 years when I opened another current account with them last year (although at a different branch because mine closed down) and they still wanted to see ID for the new account. They also required a specimen signature for my 28 year-old account as well!

regularsaver1

sometimes accounts opened create a duplicate profile for that customer - meaning that the system does not pick up that you are existing and already id verified

spaceraiders

Has anyone else looked into the regular saver and decided not to bother? I worked out I'd be £200 better off over the year to use the regular saver but I am having second thoughts. There seems to be a high risk of not meeting all the requirements (which is what they want) to get the full 12% at the end of the year, it's tricky to get the timings right with the standing orders, it's more effort to find the right combination of a nominated account and a drip feed account etc. It's tempting to just stick it all in a high interest savings account.

Argh, I don't handle having too many options and variables well.

ctdctd

spaceraiders wrote: »

Has anyone else looked into the regular saver and decided not to bother? There seems to be a high risk of not meeting all the requirements (which is what they want) to get the full 12% at the end of the year.

What is high risk about sticking £5000 in the Guaranteed Saver account for a year, not touching it, and setting up a SO to the Regular Saver? Once that is done, all you need to remember to do is transfer once a month from your drip feed account to whatever account the SO comes from.

cundall

ctdctd wrote: »

What is high risk about sticking £5000 in the Guaranteed Saver account for a year, not touching it, and setting up a SO to the Regular Saver? Once that is done, all you need to remember to do is transfer once a month from your drip feed account to whatever account the SO comes from.

No problem as long as your not creating a SO from the Guaranteed saver as if you take any money out your interest rate drops.

debbie42

tiptoe_mouse wrote: »

Ah... maybe you could enlighten me then as to what they mean by agency

The one I use in our village is an agency. It does have a rather large HALIFAX sign outside, all the advertising posters etc. and a counter service with two cashier booths. The only visible clue that it isn't a normal branch is that it shares the premises with an insurance broker. You'd probably not be aware of the difference until you asked the counter staff for some service they can't provide, and they tell you.