Halifax oddity...

How did you open your ISA - did you do it on-line, or in a branch? Do you have on-line access to it? If so, how is it described?

Mine is described in the account list as ISA Saver - but when I click on it, it says ISA DIRECT REWARD 4

I opened mine in my local branch in the middle of March, and gave instructions for funds to be transferred in from ISAs with two different providers. I was told that I would receive interest from the date of opening, and that the first interest payment would cover the period from opening up to the end of March (or maybe 5th April - not quite sure)

When I look at the account on-line, it now shows the two transfers in - but no interest payments. Both transfers in are shown as occurring on

5th April, although the second one didn't appear in the on-line statement until much later in April. [When I rang to progress it, I was told that they had a long backlog to key in, but that it would be backdated etc. They promised it would show up by a certain date - which it *didn't* (but it does now)]

When I rang to enquire where my initial interest payment had got to, they at first tried to tell me that, because the transfer hadn't occurred until *this* tax year, the interest wouldn't be added until

*next* April. I reminded them that the date shown (5th April) was actually in the *last* tax year (albeit the last day!), and asked whether the in-branch people were telling porkies when they said I would get the initial interest payment *this* April. They went away to think about it, and came back and said I would indeed get the initial interest this April, and that they were currently calculating it.

That was a while ago, and I'm still waiting - so I reckon they need some oil on their abacus or something!

[....] [...]

My Nationwide FR 1 year ISA has matured, so I filled in the form to transfer it to the Instant ISA I also hold.

About a week later I received a letter saying I can't transfer it to my Instant ISA because that account closed on 14th April.

What they really meant was that it had come to the end of it's added bonus period, and had dropped to the crap interest rate, but they regard it as closed to transfers in! Obviously they want me to take out a new ISA (Currently 3.1%) and transfer my other accounts into it, to tie me to their offerings.

I haven't phoned them yet but I will have some pleasure in telling them that I might decide to go for the Halifax ISA at3.2%, and transfer all my ISA savings into there.

Actually, what the two previous posters are reporting has definitely put me off this plan, when the transfers within N/Wide would be almost immediate.

It means keeping all my eggs in one basket, but makes life easier...

They have a 4% ISA if you have held a NW savings product for a certain length of time...

I opened a new Halifax 4-year 4.4% fixed-rate ISA online on 6th April, got the a/c no. and sort code a day or so later, and made an online £5340 transfer from a different BS current account to the new HX one. I'd ticked the "will be funded from an external source" box when opening it.

When the online balance was still £0 after 7 days I called Halifax and was told (a) they don't accept online payments-in, only a cheque by post or taken to a branch, and anyway (b) that first goes into a variable-rate ISA and is then moved into a fixed-rate ISA. So I expected to wait another week for BACS to bounce the transfer and then follow the cheque route, but it appeared in the fixed-rate ISA the next day.

Right and left hand, I'm afraid. I've not been at all impressed with the 'efficiency' of their operations - but they do have some quite good deals, and it does seem to come good in the end. I could do without the nail biting bit though!

In message , Jake writes

I don't go for fixed ISAs for more than 1 year for the same reason I don't buy long-playing records any more. ;-)