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  • FIRST POST
    • Heidiho
    • By Heidiho 10th Jan 18, 10:07 PM
    • 5Posts
    • 1Thanks
    Heidiho
    What happens to Halifax Regular Saver after my current account is switched away?
    • #1
    • 10th Jan 18, 10:07 PM
    What happens to Halifax Regular Saver after my current account is switched away? 10th Jan 18 at 10:07 PM
    Good evening all - first time poster here wondering if there is any Halifax staff here by any chance ?

    I saw signs when the Nat West switch offer popped up earlier and have jumped aboard, argreeing to switch my Halifax Reward account as part of the process.

    However, I've been contributing to the Halifax Regular Saver for the past few months (the 2% one) and am not sure what will happen to this once my current account switch has been completed (I don't hold any other current accounts with the Halifax other than the one being switched).

    The current T&Cs for the Halifax RS don't seem to state that a Halifax current account must be held (much to my surprise) but I have a nagging feeling that it may cause a problem at some point. I'm quite happy to carry on making payments to the Regular Saver for the remainder of its term from another account so maybe I should do just that and see what - if anything -happens. However, if anyone knows for certain I would love to hear from them! Thank you
Page 1
    • badger09
    • By badger09 11th Jan 18, 12:33 PM
    • 6,005 Posts
    • 5,363 Thanks
    badger09
    • #2
    • 11th Jan 18, 12:33 PM
    • #2
    • 11th Jan 18, 12:33 PM
    Good evening all - first time poster here wondering if there is any Halifax staff here by any chance ?

    I saw signs when the Nat West switch offer popped up earlier and have jumped aboard, argreeing to switch my Halifax Reward account as part of the process.

    However, I've been contributing to the Halifax Regular Saver for the past few months (the 2% one) and am not sure what will happen to this once my current account switch has been completed (I don't hold any other current accounts with the Halifax other than the one being switched).

    The current T&Cs for the Halifax RS don't seem to state that a Halifax current account must be held (much to my surprise) but I have a nagging feeling that it may cause a problem at some point. I'm quite happy to carry on making payments to the Regular Saver for the remainder of its term from another account so maybe I should do just that and see what - if anything -happens. However, if anyone knows for certain I would love to hear from them! Thank you
    Originally posted by Heidiho
    Caveat: I'm not Halifax staff

    You don't need to be a Halifax current account holder to qualify for their Regular Saver which is now 2.5%.

    If you are currently funding it by standing order from your Halifax current account, this arrangement will continue with the SO going from your Natwest account in future.
    • PeacefulWaters
    • By PeacefulWaters 11th Jan 18, 12:39 PM
    • 8,318 Posts
    • 10,656 Thanks
    PeacefulWaters
    • #3
    • 11th Jan 18, 12:39 PM
    • #3
    • 11th Jan 18, 12:39 PM
    Just make sure the standing order switches too.
    • soulsaver
    • By soulsaver 11th Jan 18, 1:39 PM
    • 1,721 Posts
    • 690 Thanks
    soulsaver
    • #4
    • 11th Jan 18, 1:39 PM
    • #4
    • 11th Jan 18, 1:39 PM
    Open another Hfax Reward... it'll take 5 mins as you're already a customer... you don't need DDs for the NatWest to get the switch incentive, so move them & the SO to the new Reward ac, no worries about the RS and you get the Hfax reward... job's a good un!
    Last edited by soulsaver; 11-01-2018 at 1:43 PM. Reason: added 'move them...'
    • Heidiho
    • By Heidiho 11th Jan 18, 1:59 PM
    • 5 Posts
    • 1 Thanks
    Heidiho
    • #5
    • 11th Jan 18, 1:59 PM
    • #5
    • 11th Jan 18, 1:59 PM
    Thank you all for the replies.

    solusaver - that thought did cross my mind last night but I remember reading somewhere that you arent allowed to hold 2 Halifax Reward Accounts anymore.

    So, I went on to the Halifax website to apply for a "normal" bank account (with the intention to switch that once it was open) only to find they don't have one that you can apply for directly - you have to apply for the Reward account and then get rejected before presumably being offered their basic account.. I got close to the end of my application at which point iit said that I would be accepted for a Reward account after all. I thought "this cant be right" so I abandoned the application.

    An hour later I thought "sod it" and decided to apply again - if they are happy to let me have 2 Reward accounts then who am i to complain?? Unfortunately, it wouldn't let me make a new application as it could tell i had recently applied and said I had to wait 30 days before trying again. DOH!

    The end result being that I will switch my existing Reward account to Nat West, bag the 125 and then (provided they have me back) I'll switch back to Halifax Reward for the regular 3 per month.

    Your way WOULD have been much simpler though lol.

    PS - was I imagining the thing about 2 Reward accounts or not? Just finishing lunch break now but Im going to look into that a bit further when I get the chance.
    • soulsaver
    • By soulsaver 11th Jan 18, 2:18 PM
    • 1,721 Posts
    • 690 Thanks
    soulsaver
    • #6
    • 11th Jan 18, 2:18 PM
    • #6
    • 11th Jan 18, 2:18 PM
    Thank you all for the replies.

    solusaver - that thought did cross my mind last night but I remember reading somewhere that you arent allowed to hold 2 Halifax Reward Accounts anymore.

    So, I went on to the Halifax website to apply for a "normal" bank account (with the intention to switch that once it was open) only to find they don't have one that you can apply for directly - you have to apply for the Reward account and then get rejected before presumably being offered their basic account.. I got close to the end of my application at which point iit said that I would be accepted for a Reward account after all. I thought "this cant be right" so I abandoned the application.

    An hour later I thought "sod it" and decided to apply again - if they are happy to let me have 2 Reward accounts then who am i to complain?? Unfortunately, it wouldn't let me make a new application as it could tell i had recently applied and said I had to wait 30 days before trying again. DOH!

    The end result being that I will switch my existing Reward account to Nat West, bag the 125 and then (provided they have me back) I'll switch back to Halifax Reward for the regular 3 per month.

    Your way WOULD have been much simpler though lol.

    PS - was I imagining the thing about 2 Reward accounts or not? Just finishing lunch break now but Im going to look into that a bit further when I get the chance.
    Originally posted by Heidiho
    You can get round the 30 day issue ( & ac limit) - apply for the Reward Ac on the Bank Of Scotland webby. Use all the same details as your Hfax ac... username email addy's etc. and (obviously)Name DoB Addy

    When it opens the ac you'll be surprised to see your hfax stuff as well... and when you log into Hfax you'll see the Bos reward ac, too. Transfer your DDs and the SO (to RS) to the new reward ac
    ... and as a bonus open another (BoS)reg saver.. 2.5% if you wish..
    Last edited by soulsaver; 11-01-2018 at 2:32 PM.
    • Westie983
    • By Westie983 11th Jan 18, 2:55 PM
    • 4,355 Posts
    • 14,911 Thanks
    Westie983
    • #7
    • 11th Jan 18, 2:55 PM
    • #7
    • 11th Jan 18, 2:55 PM
    I am Halifax staff, but you have been given correct advice, you don't have to be a Halifax current account customer to hold the RS, worth making sure that you change/(Check if switching) the SO onto the new account with Natwest so the RS is still funded.

    You can't have more then two reward accounts but its a known bug that the website will allow you to open, but be aware the account may get closed down if they do a review of your accounts.

    You say that you have already applied to switch from Halifax to Natwest, that will still go through unless you speak to Natwest.

    Sounds like you could keep the switch going and once its been completed apply again for a reward account, worth knowing you may not get accepted if you credit account hasn't been updated with the closed halifax account you switched to Natwest.

    Good luck with the switch.

    Westie983
    Save 12k in 2018 #10 Total (25,000)+10,000/12,000 = 83.33%
    Sealed Pot Challenge ~ 11 #97 Total (410) + 40/500 = 8.00% ( x 11)
    Xmas 2018 1 a Day #2 Total 62.59/365 = 17.14%
    Virtual Sealed Pot #1 Total 900/1,000 = 90.00%
    2 Savers Club 2018 #16 Total (1,500)+-480/2,000 = 51.00%

    Total 12,022.59/15,865 = 75.78%

    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email forumteam@moneysavingexpert.com
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