Halifax High Interest Current Account

irishpancake said:
Where does it say the above.

I would be extremely surprised if this is indeed the case.

On the AIB :( point, and their general tardiness in responding to a written complaint from me regarding their inability to transfer my existing current account to their HICA retaining my existing account number, due to their IT system.

It is now a month since I wrote to their Customer Relations Manager, and I have only received an acknowledgement with the promise that they would revert to me. Their complete insinsitivity to Customer Complaints is driving me to definitely consider a move to another Institution, offering at least as good a deal.

AIB rant over :(
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Yes, not mentioning a finishing date does not necessarily mean it's a permanent rate!
I can understand your frustration but it does seem to be a genuine IT issue as other posters have had the same problem.
 
irishpancake said:
Where does it say the above.

I would be extremely surprised if this is indeed the case.
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There is a press release on the Halifax website that reads:

"Unlike other banks, the no-catch Halifax Current Account’s interest rate is not an introductory offer but will continue to reward customers as long as they fund the account with €1,500 each month"

You can find it here:

[broken link removed]

I think the banks now realise that they have let the high interest current account genie out of the bottle and its going to be impossible to put in back in. If AIB go back to 4% and there are other banks offering 10% on a permanent basis then they will loose people in droves.
 
Let's hope you're right. €200 a year is a fair whack for any bank to pay just for a current account. I know they're trying to capture all your financial business but in this day and age that's less likely.
 
So if I transfer my salary to Halifax and keep the balance up and over €2000 I get 10% interest on the €2000 (€200) indefinately.

Do they charge though for transactions, laser cards etc.

All this is great news thought and shows how important competition is.
 
MrKeane said:
So if I transfer my salary to Halifax and keep the balance up and over €2000 I get 10% interest on the €2000 (€200) indefinately.

Do they charge though for transactions, laser cards etc.

All this is great news thought and shows how important competition is.
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It says everyday transactions are free so yes it does seem to do what it says on the tin!
 
I've just seen the Halifax website know (sorry I only scanned this thread) so I just opened an account with Ulster bank (switched from BofI and their gimmicky products) I am waiting for my €150 from Ulster bank, I wonder is there a clawback from them if I move to Halifax next month?
 
MrKeane said:
So if I transfer my salary to Halifax and keep the balance up and over €2000 I get 10% interest on the €2000 (€200) indefinately.

Do they charge though for transactions, laser cards etc.

All this is great news thought and shows how important competition is.
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The bit in bold is wrong, they'll pay 10% interest on balances up to €2000, but you don't need to maintain at least €2k in the account.

Basically, transfer in €1500 a month and you're sorted.
 
It's about time there was proper competition in Irish banking, I'm very happy to see Halifax offering current accounts and will be opening one as soon as it becomes available — 21st May if I'm not mistaken.

I recently moved to this country and unsuccessfully tried to open an account with National Irish Bank, only to be told that there was a three month waiting list "because they were short staffed".

Pfft. But at least now I can see that as a lucky escape.
 
I can't see any reference to what happens if you go over the 2,000. I would assume that a lowerrate kicks in but that the first 2,000 would be at the higher rate.

Anyone know?
 
ClubMan said:
My guess is 0% on anything over €2K.
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Close, I think I saw 0.1% somewhere.

I am thinking of opening 2 accounts, one each for my wife and myself, deposit €2000 in each and just channel the €1500 between them every month, any reason why this would not work?

Where else would you get 10% return on 4k?
 
MrKeane said:
Close, I think I saw 0.1% somewhere.

I am thinking of opening 2 accounts, one each for my wife and myself, deposit €2000 in each and just channel the €1500 between them every month, any reason why this would not work?

Where else would you get 10% return on 4k?
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I'd imagine it's your salary they're aiming to have lodged but I suppose a standing order from another a/c would have the same effect.
Suddenly you're into hassle though of having to administer a scheme rather than just using their current account product as your current account.
 
Folks

I think it would be worthwhile for those interested in the new Halifax product to have a look at [broken link removed] on the BoSI web-site.

It gives much more information regarding this proposed new account, and would answer many of the queries being raised by posters.

For example:

Unlike other banks, the no-catch Halifax Current Account’s interest rate is not an introductory offer but will continue to reward customers as long as they fund the account with €1,500 each month
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Fee Free Banking on Everyday Transactions
The Halifax Current account offers customers fee free banking, with no transaction fees on the following:

* Account maintenance
* Overdraft set-up and renewal
* Euro ATM withdrawals
* Euro point of sale transactions
* Direct Debits (set-up, amend, delete or payment)
* Standing orders (set-up, amend, delete or payment)
* Domestic payments (internal & external), cheques, lodgements of domestic cash and cheques drawn on other Irish banks, automated credits, account statements and debit cards (issue, card replacement, PIN re-issue & card cancellation)
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To ease the switching process, Halifax has introduced a 0% switcher overdraft for the first three months, up to a maximum of €1,500. This is unique in the Irish market place. This provides three-months peace of mind for customers who are switching their account. Customers will enjoy fee free banking on everyday transactions
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As an additional benefit, the Halifax Current Account overdraft will have a €50 buffer to guard against customers unknowingly exceeding their authorised overdraft limit.
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Sorry for quoting so extensively, but I feel it is necessary to draw the Boards attention to these facts, which are not really advertised on the Halifax web-site.

BTW. I have no connection with BoSI or Halifax, but I certainly will soon be a customer, and at last ditch the non-responsive AIB.
 
irishpancake said:
Sorry for quoting so extensively, but I feel it is necessary to draw the Boards attention to these facts, which are not really advertised on the Halifax web-site.
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In Post Number 2 of this topic there is a [broken link removed] to the halifax announcement which mirros what the BoSI page says.
 
DublinTexas said:
In Post Number 2 of this topic there is a [broken link removed] to the halifax announcement which mirros what the BoSI page says.
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oh ohhhhhh :eek: :eek:

Sorry bout that, lost track of the post

Thanx, DublinTexas, and again apologies.
 
if i leave 2000 Euro in this new Halifax account i'll earn more in a year on that than on any deposit account out there.
 
One area where competition could be improved is to reduce the hassle of so called switching. Surely once you are in the system then that should be it. For example to move from bank of ireland to UB all you should need is your bank statment, all automated deposits, direct debits and standing orders should just port over without any messing. I switched recently and bank of ireland refused to port my direct debits and standing orders which they are supposed to. I also had to switch my payment details and child benefit myself, as well as produce my identification and household bills.
 
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