Halifax Childrens Regular Saver Reviews

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Read the reviews on here before opening, however the account is just fine for anyone who has half a brain and can work out how to calculate interest correctly. One previous reviewer was moaning they didn't get enough interest. Interest is calculated daily as it is on the majority of accounts out there. Therefore don't be stupid enough to think you should get £120 on £100 a month over 12 mths. The £1200 capital isn't in there all year so why on earth would the bank pay you interest on money you haven't paid in yet. Great a/c for people that actually understand maths

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Terrible customer service, the worst I have ever encountered. Halifax are a shambles. I've collectively wasted about 70 minutes on the phone, most of that time on hold, never received promised call backs, been into a branch, and still I have not been able to get this account activated. DO NOT WASTE YOUR TIME, I AM SURE THERE ARE SIMILAR DEALS OUT THERE.

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Awful customer service. Advisers who do not know the product and are insulting on the telephone. C**p interest rate.

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Trying to set up this account is a nightmare. First you can't set it up by phone as you need to take ID into the branch. Trying to combine phone and face to face led to 2 accounts being set up. The money was transferred to a save fir it account at the end of the year ok. I have tried to set up the account again recently but Halifax have opened another save for it account to link to without asking / telling me! Have closed all! Good rate - rubbish service

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what a complete waste of valueable time. i have lost count of how many phone calls and visits to the branch i had to make to get this Halifax Childrens Regular Saver account up and running. staff kept making mistakes that i had to point out to them. standing orders kept getting rejected for no reason at all. had to show my child's birth certificate to the branch 3 times (40-mile round trip each time!) before they acknowledged that they had logged it on their system. they even put my one pound in ...

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WARNING: don't be fooled by what looks like a high interest rate on the halifax children's regular saver account. The 6% currently advertised is actually worked out that they calculate interest daily and apply it annually, so you in fact get around half the advertised rate on the final balance in your account (so 3% on todays rate). I opened this account when the rate was advertised at 10% for my wee one but just got 5% of the final balance in the account. So please be aware it is not as good ...

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I found it completely impossible to open this halifax childrens regular saver account - struggled with the online system and then wasted loads of time in the branch with documents trying to confirm my and my children's identity. I gave up in the end.

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As with several other reviewers I had great difficulty in getting Halifax Childrens Regular Saver account created correctly, after opening it originally online. It then took three weeks of visits to the branch to get it correctly sorted and after four tries, they never did send a correct certificate of investment.

Also, as with earlier comments, I was shocked at the end of the year to find that the interest was not allocated at 10% on the balance, but had been calculated each month on the month ...

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Trouble opening this online. Branch finally did it but the account kept being closed even though regular monthly standing order payments HAD been received in the account.
Not worth the hassle of trying to set this up for 7 months and not getting anywhere. Complete waste of my time.

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Not worth the hassle. Have had this account since it started, for my son and daughter, filled in children's tax forms and every year tax is taken off! Every year I have one heck of time making phone calls and visiting bank to rectify this. Wonder what will happen next year. Hope your reading this ACCOUNTANTS!

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6 weeks after opening the accounts, they still could not tell me when I would be able to expect the monthly payments to be made. IT couldn't fix it - they hadn't come across the problem before, but still no further forward. I wasn't prepared for my children to lose out, so closed the accounts and went elsewhere.

hemasolanki's review has yet to be rated - Be the first!
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If I hadn't personally checked the passbook a/c balance, this fiasco would not have been highlighted.To date my query remains unresolved!Thus the money is still sitting in someone's else's account!

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We were led to believe that it we put £100 a month into our sons account the interest was 10% giving him £1320 after one year-this was NOT the case even though this is what we were actually told.

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You do NOT receive 10% - It is more like 5% - on Halifax Childrens Regular Saver.

You receive a 'dividend' on anything you deposit throughout the year, the first month it's 85p, the 2nd 1.00 etc. The most interest you can earn on this account is 61.85 over the year. Considering you will have to deposit the maximum of 1,200 for this you can clearly see the interest earned is 5%, not the 10% advertised.