Halifax to relaunch regular saver @10%+

molar

I opened one of these accounts at the beginning of this month but have yet to make the first payment. I setup a S.O. to go out of my account on the 21st last night and then saw Martins e-mail today saying that the first payment must be made by the 20th. :eek:

My question is, will I be able to deposit money in at a Halifax branch and if so will this replace July's S.O.? Thanks.

capehorn

Hi

Sorry, I hope you understand I don't have time to read 44 pages of this

Two quick questions...

1. How many payments can you make into the account per month (I assume only 1, is that right?)

2. Can you change your standing order, so if I wanted my first payment so go through immediately from a Halifax account, but wanted all others to come from a different current account, could I change it after the first month?

Thanks a lot, I want to do the application tonight!

10_66

capehorn wrote: »

1. How many payments can you make into the account per month (I assume only 1, is that right?)

2. Can you change your standing order, so if I wanted my first payment so go through immediately from a Halifax account, but wanted all others to come from a different current account, could I change it after the first month?

You can make as many payments a month by SO, as long as you do not exceed the limit of £500. There has been some speculation about this, but Halifax have confirmed that they realise the T&Cs are a bit confusing and are in the process of amending them. Have received written confirmation that more than one payment a month is acceptable.

You can change your SO, as you wish.

Paul_Herring

atomicspaceship wrote: »

I guess it's now so close to the closing date that if you don't have an existing Halifax account to transfer the cash in from (in other words an immediate transfer) it won't reach the RS account in time.

Optimistically, it's to ensure the customer actually has money in the account in time (last working day is this Friday?)

Cynically, it's to ensure the customer endures the rat-run that is 'let us sell you other products.'

Simon_Pugsley

I spoke to the Halifax, and have opened my RS account with them, she mentioned that if i open another account with the Halifax (I guess a normal savings account) and leave £5000 in there for 12 months that i would recieve 12% interest.

Have i got that right, or am i confused..

skitskut

Simon_Pugsley wrote: »

I spoke to the Halifax, and have opened my RS account with them, she mentioned that if i open another account with the Halifax (I guess a normal savings account) and leave £5000 in there for 12 months that i would recieve 12% interest.

Have i got that right, or am i confused..

Yes that's right. The best account to open and have as your nominated account to leave £5000 in is the Halifax Guaranteed Saver Reward which pays 6.25% interest for the 12 months if you make no more than one withdrawal.

efunc

Actually, the Online Saver is better at 6.35%. That's the one I opened when I popped into the branch this afternoon. Alas I didn't have time to transfer £5000 because I have that stashed at ICICI and the time taken to transfer it would miss the deadline. What a shame, I wish I'd found out about it a week ago

YorkshireBoy

efunc wrote: »

Actually, the Online Saver is better at 6.35%.

...but the Online Saver (whatever that is...I can't find such an account on the Halifax website) isn't one of the 6 accounts listed for the £5,000 deposit (to get 12% on the Regular Saver)...

To receive an even bigger rate of 12% AER you just need to make sure you have at least £5,000 in one of the following accounts:

• Halifax Guaranteed Saver
• Variable rate Halifax Web Saver
• Halifax Premium Savings Direct
• Halifax Saver Reward
• Halifax Instant Saver
• Halifax Web Saver Extra

http://www.halifax.co.uk/savings/regularsaver.asp

Or maybe you misread skitskut's post?

tiptoe_mouse

efunc wrote: »

Actually, the Online Saver is better at 6.35%. That's the one I opened when I popped into the branch this afternoon. Alas I didn't have time to transfer £5000 because I have that stashed at ICICI and the time taken to transfer it would miss the deadline. What a shame, I wish I'd found out about it a week ago

Could you provide a link to this account? I can't seem to find it on their website, and it isn't in the list of accounts that qualify:

To receive an even bigger rate of 12% AER you just need to make sure you have at least £5,000 in one of the following accounts:

• Halifax Guaranteed Saver
• Variable rate Halifax Web Saver
• Halifax Premium Savings Direct
• Halifax Saver Reward
• Halifax Instant Saver
• Halifax Web Saver Extra

Edit: YorkshireBoy beat me to it

There is encouraging news, though - it looks like you still have time to transfer funds from ICICI:

At least £5,000 needs to be in your account:

• within 14 days of making your Regular Saver opening payment
• for 12 months from the date of your opening payment, and
• keep to the conditions of both your nominated account and the Regular Saver account

tiptoe

Gambit

Paul_Herring wrote: »

Optimistically, it's to ensure the customer actually has money in the account in time (last working day is this Friday?)

Cynically, it's to ensure the customer endures the rat-run that is 'let us sell you other products.'

Except that I opened the account on Friday 4th July and made the deposit the following week... and they didnt try to sell me anything else when I went into the brach - weird!