Halifax's regular save a/c

flossy_splodge

Oh the innocence! No it is extremely UNLIKELY and what is more I URGE you to check what rate and what account your ongoing deposits are going into as I fear you will find that it is going into the linked account(a Saver reward is the account they suggest most commonly when setting up this 7% Regular savings account so prob similar for last year. The current rate for the saver Reward is about 2.45% (from memory) or something VERY close to that. These high interest account are very clear that they run for just 12 months and are then swept into the lower rate account. You need to be on the ball and move your money as soon as this has happened and OPEN A NEW high interest account if you want to do the same thing all over again.
Halifax is first class at NOT telling you clearly what happens if you are not a sharp financial cookie well used to their shenanigans. Please go check. It is not good money saving to let them have alll your lovely lolly sitting in an account at under 3%.
Go get em.

Aark

If you continued the standing order into a second year, this starts a new year of the Regular Saver at the fixed rate that applies at the time (i.e. 7%).

flossy_splodge

NOT what I was told quite explicitly by my local Halifax Branch but am far from surprised that there is other info out there which is why I reiterate the recomendation to check the reality rather than the theory.

grumbler

flossy_splodge wrote:

Oh the innocence! No it is extremely UNLIKELY ... as I fear you will find that it is going into the linked account...

No. Your fears are groundless. Now we know this for sure. For the whole story of muddle half a year ago you can read this thread: Halifax Regular After 1 Year