Halifax Reg Saver reduced from 7.0% to 4.5% today!

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N/SIDEPEOPLE

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Halifax have posted an ad in The Irish Times today announcing 2.5% reduction. They confirmed it over the phone.
 
I see the fixed rate saver (1 year) has also gone down to 4.5% - it was either 5.6% or 6% last week.

To be expected, I suppose!

Wonder if they'll change the 10% interest on their current accounts?
 
Yes I see, but I also see 'Mugsgame' knew this on the 20/01/09 and updated best buys. Here's some new news I think?

First Active (with effect from 26th Jan)

FA reg saver down 6.4% to 5.4%
FA eSaving down 4.75% to 3.5% (no €15,000 restriction)
FA eSaving plus no change.
 
For those with Halifax regular saver accounts it is important they now read the terms and conditions. Initial reaction might be to close the account but before thats done read 3.6 of the tersm and conditions, - ''In addition to interest, the bonus rate of interest will be paid on your account on each account opening anniversary if, but only if, the following conditions are met in that year - (a) no more than two withdrawals have been made in that year from your account. (b) Your account has not been closed in that year by you or us (c) all twelve monthly payments in the amounts set out in the application form have been made by you to your account in that year.'' In other words any account closed now before twelve monthly payments are paid will not get 7%.
 
oldtimer said:
For those with Halifax regular saver accounts it is important they now read the terms and conditions. Initial reaction might be to close the account but before thats done read 3.6 of the tersm and conditions, - ''In addition to interest, the bonus rate of interest will be paid on your account on each account opening anniversary if, but only if, the following conditions are met in that year - (a) no more than two withdrawals have been made in that year from your account. (b) Your account has not been closed in that year by you or us (c) all twelve monthly payments in the amounts set out in the application form have been made by you to your account in that year.'' In other words any account closed now before twelve monthly payments are paid will not get 7%.
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Well put Oldtimer, this is why I dont like Halifax regular saver accounts. I had 2 accounts (older versions), rates were dropped mid last year by a couple of percent, I tried to withdraw nearly all money and leave account open to get bonus interest. But due to difficulties in Halifax it took approx 2 to 3 weeks for them to do this simple request. Generally apart from this time I have had a good service from Halifax.
If account holders withdraw all money apart from 10 Euro and decrease the direct debit to the minimium (10 Euro is it?), you should get bonus interest rate. This only really make sense to do once a couple of months into account, otherwise mabey just close account and lose bonus interest.
 
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