Halifax Savings Account Review

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0.3 stars
Average rating for this product is: 0.3 out of 5

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burc11's Review of Halifax Savings Account

22nd Sep 2004

Overall Rating

0.5 stars
  • Value for money
    4 stars
Good Points

Better interest rate than other banks


Bad Points

Poor customer service
Restrictive, unnecessary rules and regulations


General Comments

From day one of opening my guarenteed reserve savings account with the Halifax, I have had nothing but grief. Having come from a banking back ground, I have a sound understanding of the banking world, however, I found that their ways of doing things very restrictive. For example I was not allowed to renew my account and then have the interest paid away to another bank account. I was told I would have to open a current account with them, or I would have to have a cheque sent to my address - losing interest while cheque is in clearing. I found the staff in my local Halifax to be very pushy and they did not want to open the account I wanted. Instead, they were giving very bad advice. I wanted to open a fixed term account for 6 months with the thought of interest rates rising, which of course they did, several times! I was told at the time that they would not rise and to open a fixed term account for 2 years. I have to go along every six months to renew my account and it is a battle every time. I think they should have another read of the banking code! Staff in banks are not allowed to advise customers of such things. They have to have the relevant qualifications first. They are only allowed to provide information about their product.

I am only with the Halifax as they are currently paying the best rate, for my purposes. But I would not recommend them in terms of customer service etc.

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