Misled by Halifax staff member

[Joe1234]

From reading another post here, I have just realised that I appear to have been given incorrect information by Halifax when I called to the branch earlier this week. I was told that if I lodge 1,500 a month to their current account I would get 200 per year in interest.

From the halifax website, it would appear that the interest rate is 10% on balances up to 2,000, so if I was to get the 200 I would need to keep 2,000 in the current account.

Mods. - Feel free to move this to LOS if necessary.

 

[rmelly]

Re: Misled by Halifax

They have not misled you. If I recall correctly, you need to make a lodgment of 1500 per month, which you can subsequently withdraw, but more importantly you need to maintain a balance of 2000 for the entire year to get the 200 (2000 @ 10%), so you lodge 2000 when opening, then transfer in 1500 each month then withdraw 1500 a week later each month or similar.

 

[Joe1234]

Re: Misled by Halifax

They have not misled you.

They have misled me if the guy told me that if I lodge 1,500 per month I would get 200 interest - as stated in my previous post. I was not informed about anything to do with 2,000 when I was in the branch.

 

[Brendan Burgess]

Re: Misled by Halifax

I think that it is a problem with these stupid complicated accounts.

Even the staff don't fully understand the rules, or the customers don't understand the explanations.

Don't rely on what a staff member tells you. Read the documentation.

Brendan

 

[skrooge]

Re: Misled by Halifax

I think that it is a problem with these stupid complicated accounts.

Even the staff don't fully understand the rules, or the customers don't understand the explanations.

Don't rely on what a staff member tells you. Read the documentation.

Brendan

In fairness to Halifax Its pretty straight forward. I've always found it clear what the T&C's are in relation to there current account savings rate. I think its more like the original poster misunderstood....Can't blame Halfiax is some people think 10% of €1500 is €200!!!!!!

 

[Joe1234]

Re: Misled by Halifax

In fairness to Halifax Its pretty straight forward. I've always found it clear what the T&C's are in relation to there current account savings rate. I think its more like the original poster misunderstood....Can't blame Halfiax is some people think 10% of €1500 is €200!!!!!!

Please read my previous posts. I was not told ANYTHING about 10%, or €2,000. For the third time - I was told that if I lodge, €1,500 per month, I would receive €200. I discovered the 10% and €2,000 issues when I read another post here AFTER being in the branch, and these were confirmed when I looked at the website.

 

[ajapale]

Re: Misled by Halifax

......Please read my previous posts. I was not told ANYTHING about 10%, or €2,000. For the third time ................

And for the second time............

Don't rely on what a staff member tells you. Read the documentation.

 

[Joe1234]

Re: Misled by Halifax

Don't rely on what a staff member tells you. Read the documentation.

As per my previous post, I did read the documentation on the website. That is where I found out for certain that I was misled by the staff member. Although I am not 100% sure, I believe that he was the branch manager.

 

[Joe1234]

Re: Misled by Halifax

And for the second time............

It seems that despite what I WAS TOLD, other posters seem to think that I was the one who misinterpreted what I heard.

 

[skrooge]

what were you doing contacting Halifax if you didn't know anything about the account!!

I find hard to believe anyone thats posted over 600 times in here had not seen some mention of halifax and 10% http://www.askaboutmoney.com/showthread.php?t=52670&highlight=10% for example.

 

[ajapale]

Re: Misled by Halifax

.. I was the one who misinterpreted what I heard...

I dont think you misinterpreted anything!

I do think that the staff member gave you wrong, incomplete or misleading information.

And for the third time.......

Read and rely on the documentation and dont rely on what some staff member tells you.

 

[Joe1234]

what were you doing contacting Halifax if you didn't know anything about the account!!

I find hard to believe anyone thats posted over 600 times in here had not seen some mention of halifax and 10% http://www.askaboutmoney.com/showthread.php?t=52670&highlight=10% for example.

For your information I have had a regular savings account with Halifax for nearly 2 years. One day during the week, I went into their branch to make a withdrawal from this account. For anyone who has never been in a Halifax branch, they try to sell you anything they can once they get you into the branch. I was never interested in moving my current account from BOI and so as I was not shopping around for another current account, I was not aware of any 10% rate until I searched this forum AFTER being in the branch. I felt that what I was told in the branch (€200 for lodging €1,500 per month) was too good to be true. After being told this THEN I checked the websites.

 

[Joe1234]

Re: Misled by Halifax

I dont think you misinterpreted anything!

I do think that the staff member gave you wrong, incomplete or misleading information.

Glad to hear that you dont think I misinterpreted anything, but some posters here, namely rmelly and skrooge believe that I did.

 

[rmelly]

Fair enough I wasn't party to the conversation. I agree that if it happened exactly as outlined that he/she may have given you incomplete information. However I don't know the context of the discussion e.g. did he refer you to a leaflet or T & C before/after, or did he ask about your planned withdrawal patterns prior to making the statement. Did you have a detailed discussion on this, or was it a one liner from him - maybe he didn't get to the point of explaining the finer details because you changed topic or brushed him off?

 

[Joe1234]

Fair enough I wasn't party to the conversation. I agree that if it happened exactly as outlined that he/she may have given you incomplete information. However I don't know the context of the discussion e.g. did he refer you to a leaflet or T & C before/after, or did he ask about your planned withdrawal patterns prior to making the statement. Did you have a detailed discussion on this, or was it a one liner from him - maybe he didn't get to the point of explaining the finer details because you changed topic or brushed him off?

It happened EXACTLY as I outlined. There was no mention of a leaflet, T & C's, or anything. If he didn't get to the point of explaining anything it was because HE changed the subject by asking me for my drivers licence to complete the wiithdrawal. I did not tell him that I was not interested in the account or anything like that.