40PP Savings Account Conditions

User Manual: 40PP

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Savings account
conditions
(inc cash ISAs)
For use from 13th January 2018
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Welcome to Halifax
This booklet explains how your Halifax savings account works, and includes its main conditions.
This booklet contains:
• information about how to contact us and how we will contact you;
• an explanation of what makes up our agreement with you for your savings account and related services;
• our conditions, divided into sections setting out what you and we agree to do under this agreement. To
help you find what you need, we list the main points of each section under ‘What’s in this booklet?’ and;
• details of charges that may apply to your account.
Please:
• read this booklet carefully and keep it for future reference;
• ask us if you have any questions, using the contact details we provide;
• note that the examples (shown by H) in this document help to explain our terms but don’t form part of
the conditions.
For information about your statutory rights, please contact your local Trading Standards Department or
Citizens Advice Bureau.
Not all of the accounts covered by this booklet are available to new customers at all times.
We may offer different interest rates and terms depending on how you open and operate your
account. For example, you may prefer to use only Online Banking. From time to time we may also offer
special interest rates to some customers, for example to recognise their relationship with us.
You may not always be able to open all accounts through each of our service channels. We’ve designed
some accounts to be opened and operated only in a particular way, for example, by using Online Banking.
We can withdraw accounts and interest rates at any time, though this will not affect existing customers.
To check whether a particular account is available, go online at www.halifax.co.uk/savings ask in one of
our branches or phone 0345 726 3646.
Our ‘Savings rates’ leaflet shows the interest rate we’ll pay on your account. You can also check our rates
online at www.halifax.co.uk/savings-rates
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How to contact us
To tell us:
• about a change of contact details
• you’ve forgotten your PIN (if you have a card to
use with your account)
• you didn’t authorise a payment
• you think we have not made a
payment correctly
• you think someone knows your security details
• you want to know our current standard
exchange rates
• about anything else…
Call
0345 726 3646
Textphone
0345 732 3436 if you find hearing or
speaking difficult.
Visit one of our branches
Write to us at Halifax, PO Box 548, Leeds LS1 1WU.
To report a lost or stolen device (including your
card) or damaged card…
Call
0800 015 1515 (UK)
+44 (0) 113 242 8196 (from abroad)
Visit one of our branches
To make a complaint… See Section M
‘Other important terms’
If you are registered for Online Banking, you can use it to report a lost or stolen device or card
and request a replacement card or a new PIN. You can also check our interest rates online at
www.halifax.co.uk/savings-rates
In Scotland, you can also contact us and give us instructions for most day-to-day banking at
Bank of Scotland. Some kinds of transaction are not available if you use a Bank of Scotland Counter-free or
Mobile Branch and different limits may apply, for example on how much cash you can withdraw.
We strongly recommend you do not use email to give us confidential information or instructions.
Not all services are available through Telephone Banking 24 hours a day, seven days a week. Please ask an
adviser for more information.
You can usually use our Telephone, Online and Mobile Banking services and cash machines at all times. But
occasionally, repairs and maintenance may mean a service isn’t available for a short time.
Any instructions you give us are not effective until we actually receive them.
How we can contact you
We may contact you by post, telephone and electronically using the contact details you give us, including
any address you have agreed we should use for electronic communications. We will use these same contact
details and appropriate secure procedures to make contact if we suspect fraud or a security threat. We
never ask for details about your account, devices, security details or any confidential information by email.
So please do not reply to an email asking for this information.
Meaning of words we’ve used
card Any card – or card details – that can be used to give us instructions
on your account, for example by using a cash machine.
electronic or electronically Any form of message made by any type of telecommunication,
digital or IT device – including the internet, mobile banking
application, email and SMS.
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You must tell us if your name or contact details change. If you don’t tell us, we will not be responsible if we
cannot contact you or we send confidential information to an old address.
We may charge reasonable costs for trying to find you if your contact details are out of date.
Recording calls
We may listen in to or record phone calls to:
• check we have carried out your instructions correctly and are meeting our regulatory requirements;
• help detect or prevent fraud or other crimes; and
• improve our service.
What’s in this booklet?
Here is a list of the sections in this document, to help you find what’s important to you more easily.
Topic Read more
about this
Page
No:
Our agreement with you Section A 5
Special conditions Section B 5
Everyday Saver 6
Online Saver 6
Instant Saver 7
Regular Saver 8
Fixed Saver 9
Fixed Online Saver 10
Tracker Bond 11
Online Tracker Bond 13
Young Saver 14
Kids’ Regular Saver 15
Kids’ Saver 16
Kids’ Monthly Saver 17
ISA Saver Variable 23
ISA Saver Online 24
ISA Saver Fixed 24
Junior Cash ISA 26
Instant ISA Saver 27
Halifax Help to Buy: ISA 27
Checks, account security and keeping you informed Section C 30
Making and receiving payments Section D 31
How long will your payment take? Section E 37
How we calculate interest and account charges Section F 38
How and when we can make changes to this agreement Section G 38
How we manage joint accounts Section H 41
Can someone else operate your account? Section I 42
Who is responsible for any loss? Section J 42
Using money between accounts (set-off) Section K 44
Ending this agreement or an account or service, or suspending a service Section L 44
Other important terms Section M 46
Additional important information Section N 47
Savings charges Section O 49
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Section A – Our agreement
with you
Our agreement with you is made up of three kinds of
conditions:
• The ‘general conditions’ in this booklet. They are the
main terms for your savings account and for our overall
relationship with you.
• The ‘special conditions’ in this booklet. They are terms
that apply only to your chosen savings account.
• The ‘additional conditions’, which are the details of
interest rates, charges and other terms that apply to a
specific account or service that are not set out in the
general conditions or special conditions. We give these to
you when speaking to you or in documents such as our
application forms, letters, emails or leaflets (such as our
‘Savings rates’ leaflet), or on our website.
HAdditional conditions include things like
when we will pay interest and how to qualify
for a particular account or interest rate.
If an additional condition or special condition conflicts with a
general condition, the additional or special condition applies.
Our accounts are for personal customers resident in the UK.
You must not open or use one for the purpose of a business,
club, charity or other organisation without our consent.
We have different agreements for customers who are not
personal customers.
Most of the accounts in this booklet must not be used
to hold money for someone else (including as a trustee
or personal representative for someone else) without our
consent. An adult can open a Young Saver, Kids’ Regular
Saver, Kids’ Saver or Kids’ Monthly Saver account in trust for
a child (and can later hold any account that automatically
replaces a Kids’ Saver or Kids’ Monthly Saver on trust too).
You explicitly consent to us accessing, processing and
retaining any information you provide to us for the purposes
of providing payment services to you. This does not affect
any rights and obligations you or we have under data
protection legislation. You may withdraw this consent by
closing your account.
Meaning of words we’ve used
account Any account you hold with us that is
covered by this agreement.
Lloyds
Banking Group
This includes us and a number of other
companies using the Halifax, Bank of
Scotland and Lloyds Bank brands and
their associated companies. You can
find more information on the Lloyds
Banking Group at
www.lloydsbankinggroup.com
we, us, our Bank of Scotland plc. Halifax is a division
of Bank of Scotland.
We explain the meaning of some other words at the start of
each section of this booklet.
Section B – Special
conditions
You’ll see from Section G that we treat payment and non-
payment accounts differently when we make any changes to
your conditions or interest rate.
Payment accounts Non-payment accounts
Everyday Saver
Online Saver
Instant Saver
Kids’ Saver
Young Saver
Fixed Saver
Regular Saver
Kids’ Monthly Saver
Kids’ Regular Saver
Fixed Online Saver
Tracker Bond
Online Tracker Bond
ISA Saver Variable
ISA Saver Online
ISA Saver Fixed
Junior Cash ISA
Instant ISA Saver
Halifax Help to Buy: ISA
Managing your account and the transactions you can make
The special conditions for your account will tell you if there
are restrictions on the kind of transactions you can make. For
example, they say whether or not you are allowed to make
withdrawals, if you should only use your account online, or
if you can ask for a card to withdraw cash and get account
information from a cash machine.
Subject to what the special conditions say, the transactions
we’ve listed below are available on our savings accounts.
Not all are available through all channels. Limits may apply to
certain transactions and channels.
• Withdrawals by banker’s draft.
• Cheque payments in.
• Cash payments in and cash withdrawals.
• Payments in and withdrawals using Faster Payments, BACS
and CHAPS.
• Standing order payments in.
• Internal transfers.
• Payments made online or by phone.
Some of our branches are Counter-free and are designed to
give you access to your account mainly using cash machines
and immediate deposit machines (IDMs). Some kinds of
transaction are not available at our Counter-free branches,
and different limits may apply. In addition, some self-service
facilities are not available at every branch.
Cash withdrawals – at Counter-free branches you can only
take out cash (notes only) using one of the cash machines.
You cannot withdraw coins at our Counter-free branches.
If you use a Bank of Scotland Mobile Branch you will usually
be able to withdraw up to £300 a day in cash.
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Easy-access savings
Our easy-access savings accounts mean you can pay in when you like, and then dip into your savings whenever you need to.
Everyday Saver and Online Saver accounts last for 12 months.
Everyday Saver
Opening an Everyday Saver
When opening an Everyday Saver you: • Must be 11 or over (16 or over if you want to use it online or by phone).
• Must want to save £1+.
• Can use one of our branches, go online or phone us.
• Can have a joint account.
Having an Everyday Saver
Our interest on Everyday Saver: • Is variable – it can change during the 12-month term. For the rate, see our
‘Savings rates’ leaflet or our website.
• Is paid on the anniversary of account opening.
• Is paid into your account, or you can ask us to pay it to a different account
with us or another bank or building society.
Operating your account: • Use our branches, go online or phone us.
• Use a card – just ask in branch if you’d like one.
• You get regular statements to help you keep track. How often you get
statements will depend on whether or not you take out money with
your card and how much you use your account. We’ll provide you with a
statement at least once a year.
After 12 months: • Your account will automatically change to an Instant Saver the day after it
matures and we pay your interest. See Section M for more detail on what
happens if your account matures on a non-working day.
• Instant Saver also gives easy access to your savings. You can use it in branch,
go online or phone us, and your Everyday Saver card will still work.
• We’ll send you full details of Instant Saver. If you keep your savings in
your Instant Saver account, we’ll regard you as having agreed to the new
account conditions.
Online Saver
Opening an Online Saver
When opening an Online Saver you: • Must be 16 or over.
• Must want to save £1+.
• Must go online.
• Can have a joint account.
Having an Online Saver
Our interest on Online Saver: • Is variable – it can change during the 12-month term. For the rate, see our
‘Savings rates’ leaflet or our website.
• Is paid on the anniversary of account opening.
• Is paid into your account, or you can ask us to pay it to a different account
with us or another bank or building society.
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Operating your account: • Online only.
• You get regular statements to help you keep track. How often you get
statements will depend on how much you use your account. We’ll provide
you with a statement at least once a year.
After 12 months: • Your account will automatically change to an Instant Saver the day after it
matures and we pay your interest. See Section M for more detail on what
happens if your account matures on a non-working day.
• Instant Saver also gives easy access to your savings. You can use it in branch,
go online or phone us. You can ask us for an Instant Saver card.
• We’ll send you full details of Instant Saver. If you keep your savings in
your Instant Saver account, we’ll regard you as having agreed to the new
account conditions.
Instant Saver – Not available to new customers
Having an Instant Saver
You: • Must be 11 or over (16 or over if you want to use it online or by phone).
• Must want to save £1+.
• Can use one of our branches, go online or phone us.
• Can have a joint account.
Our interest on Instant Saver: • Is variable – it can change while you have the account. For the rate, see our
‘Savings rates’ leaflet or our website.
• Is paid:
– each year on the anniversary of account opening if you originally opened
your account as a Halifax Instant Saver (with annual interest), Everyday
Saver, Online Saver or Reward Saver account;
– each year on 1st February if you originally opened your account as a
Halifax Premium Savings Direct account;
– each year on the anniversary of the date you made your first payment
into your account if you originally opened it as a Halifax Web Saver
(with card) or a Halifax Guaranteed Saver account (including Guaranteed
Saver Reward);
– monthly if you originally opened your account as a Fixed Saver, Fixed
Online Saver or Kids’ Fixed Saver and you chose a 3-, 6 or 9-month term
– on the same date each month as you opened your account or, for
any other term, each year on the anniversary of the date you opened
your account;
– monthly if you originally opened your account as a Tracker Bond or
Online Tracker Bond – on the same date each month as you opened
your account;
– monthly if your account was changed from a Matured Funds account and
you chose monthly interest when you began saving – on the same date
each month as your original account transferred to Matured Funds;
– each year on the anniversary of the date your original account transferred
to Matured Funds if your account was changed from a Matured Funds
account and you did not choose monthly interest when you began saving;
– monthly if you originally opened your account as a Halifax Instant Saver
and chose monthly interest – on the same date each month as you
opened it.
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Our interest on Instant Saver: • Monthly interest may be at a different rate from annual interest.
• Is paid into your account, or you can ask us to pay it to a different account
with us or another bank or building society.
• See Section M for more detail on what happens if your usual interest
payment date falls on a non-working day.
Operating your account: • Use our branches, go online or phone us.
• Use a card – just ask in branch if you’d like one.
• You get regular statements to help you keep track. How often you get
statements will depend on whether or not you take out money with
your card and how much you use your account. We’ll provide you with a
statement at least once a year.
Regular savings
Our Regular Saver lets you save monthly for a year, with flexibility to miss payments or close if you need to.
Regular Saver
Opening a Regular Saver
When opening a Regular Saver you: • Must be 16 or over.
• Must want to save between £25 and £250 each calendar month by
standing order.
• Can use one of our branches, go online or phone us.
• Must want an account in your sole name – you can’t open a Regular Saver
jointly with anyone else. You can only have one Regular Saver account.
• Must choose a Halifax savings account in your name so we can transfer your
savings to it after a year. Of the suitable accounts, Everyday Saver and Online
Saver are available to new customers. There’s a list of other accounts in the
Extra note below. If you don’t already have a suitable account, we’ll open an
Everyday Saver for you when you open your Regular Saver.
Having a Regular Saver
Our interest on Regular Saver: • Is fixed for 12 months.
• Is paid on the anniversary of account opening. As we work out the interest
each day and pay it after 12 months, you won’t get a full year’s interest on the
total amount you save. For example, if you save £50 each month, we’ll pay
you interest on your first £50 for 12 months, on the second £50 for 11 months,
on the third £50 for 10 months and so on. There’s a worked example in our
Regular Saver interest rate leaflet, and on our website.
• Is paid into your account.
Operating your account: • Use one of our branches with a counter or phone us. You can also view
it online.
• Make sure we get your first standing order payment within 28 days of
account opening. After that any standing order must reach your account by
25th of the month, otherwise it won’t count as that month’s payment.
• You can only pay in once a month.
• You don’t have to pay in every month, and you can change the amount you
save each month at any time. You have easy access to your savings. Use
one of our branches with a counter if you want to close before the end of
12 months.
• We’ll provide you with a statement at least once a year.
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After 12 months: • We’ll transfer your savings and interest to the account you chose. This will
happen each year on the day after the anniversary of your Regular Saver
account opening. (See Section M for more detail on what happens if that
anniversary is a non-working day.) Your monthly payments into your Regular
Saver account will continue, and will earn interest at the Regular Saver rate that
applies at the time. If you don’t have an account for us to transfer your savings
and interest into, for example because you’ve closed the account you chose
originally, your savings will stay in your Regular Saver account and we’ll change
that account to an Everyday Saver. Your regular payments will continue. We’ll
write and let you know, and if you keep your savings in your Everyday Saver
account we’ll regard you as having agreed to the new account conditions.
Extra note When we transfer your money after the anniversary of your Regular Saver, there will
be a short time (usually just a few minutes) when you won’t be able to withdraw it
from either account. Also during this time, your savings won’t show online.
The following accounts are no longer available to new customers, but if you
already have one of them you can transfer your savings into it: Liquid Gold,
60 Day Gold, Bonus Gold, Instant Saver and Monthly Saver.
Fixed-term savings
Our fixed-term savings accounts mean you know what to expect, however long you choose to save.
Fixed Saver and Fixed Online Saver pay fixed interest for the term you choose. We offer various terms, from three months to
five years. Not all of these are available to new customers at all times, but these conditions cover all the terms.
Fixed Saver
Opening a Fixed Saver
When opening a Fixed Saver you: • Must be 16 or over.
• Must want to save £500+.
• Have up to 10 days from account opening to pay in (and you can make several
payments in during this time). Your account term starts on the day you open
your account (or the next working day), even if you don’t pay anything in
when you open it.
• Can use one of our branches, go online or phone us.
• Can have a joint account.
Having a Fixed Saver
Our interest on Fixed Saver: • Is fixed – it will not change during the term you choose. For the rate for the
different fixed terms, see our Fixed Saver interest rate leaflet, or our website.
(To check your rate during your term go online or ask in branch.)
• Is paid:
– either monthly or at the end of the term, if you choose to save for
3 or 6 months;
– either monthly or quarterly, if you choose to save for 9 months;
– either monthly or annually if you choose to save for 1, 2, 3, 4 or 5 years.
• We’ll pay monthly or quarterly interest on the same date each month or
quarter as you opened your account. We’ll pay annual interest each year on
the anniversary of the date you opened your account.
• Monthly interest may be at a different rate to annual interest.
• Is paid into your account, or you can ask us to pay it to a different account
with us or another bank or building society.
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Operating your account: • Use one of our branches with a counter or phone us. You can also go online
to see your account balance and give us your maturity instructions.
• We’ll send you a certificate when you open your account.
• We’ll send you a statement when it matures, and annual statements for
accounts that are for 2, 3, 4 or 5 years.
• You can’t withdraw part of your savings, but you can close your account
early. You will need to visit one of our branches with a counter to do this.
If you close before the end of the term, you will lose an amount equal to:
– 60 days’ interest for a 3 or 6-month term;
– 90 days’ interest for a 9-month or 1-year term;
– 180 days’ interest for a 2-year term;
– 270 days’ interest for a 3-year term;
– 320 days’ interest for a 4-year term; or
– 365 days’ interest for a 5-year term.
• This will be taken from the amount you put in your Fixed Saver when you
opened it. You may therefore get back less than you first invested.
At the end of your chosen term: • We’ll get in touch beforehand, to ask what you’d like to do with the money
in your account.
• We’ll pay you interest on the day your account matures, and you will be able
to take out your money the following day. See Section M for more detail,
including what happens if your account matures on a non-working day.
• If we don’t get instructions from you in time, your account will automatically
change to an Instant Saver, the day after it matures and we pay your interest.
• Instant Saver gives easy access to your savings. You can use it in branch, go
online or phone us. You can ask us for an Instant Saver card.
• We’ll send you full details of Instant Saver. If you keep your savings in your Instant
Saver, we’ll regard you as having agreed to the new account conditions.
Fixed Online Saver
Opening a Fixed Online Saver
When opening a Fixed Online
Saver you:
• Must be 16 or over.
• Must want to save £500+.
• Have up to 10 days from account opening to pay in (and you can make several
payments in during this time). Your account term starts on the day you open
your account (or the next working day), even if you don’t pay anything in
when you open it.
• Must go online.
• Can have a joint account.
Having a Fixed Online Saver
Our interest on Fixed Online Saver: • Is fixed – it will not change during the term you choose. For the rate for the
different fixed terms, see our Fixed Online Saver interest rates leaflet, or our
website. (To check your rate during your term go online.)
• Is paid:
– either monthly or at the end of the term, if you choose to save for
3 or 6 months;
– either monthly or quarterly, if you choose to save for 9 months;
– either monthly or annually, if you choose to save for 1, 2, 3, 4 or 5 years.
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Our interest on Fixed Online Saver: • We’ll pay monthly or quarterly interest on the same date each month or
quarter as you opened your account. We’ll pay annual interest each year on
the anniversary of the date you opened your account.
• Monthly interest may be at a different rate to annual interest.
• Is paid into your account, or you can ask us to pay it to a different account
with us or another bank or building society.
Operating your account: • Go online to see your account balance and give us your maturity instructions.
• We’ll send you a certificate when you open your account.
• We’ll send you a statement when it matures, and annual statements for
accounts that are for 2, 3, 4 or 5 years.
• You can’t withdraw part of your savings, but you can close your account
early. You will need to visit one of our branches with a counter to do this. If
you close before the end of the term, you will lose an amount equal to:
– 60 days’ interest for a 3 or 6-month term;
– 90 days’ interest for a 9-month or 1-year term;
– 180 days’ interest for a 2-year term;
– 270 days’ interest for a 3-year term;
– 320 days’ interest for a 4-year term; or
– 365 days’ interest for a 5-year term.
• This will be taken from the amount you put in your Fixed Online Saver when
you opened it. You may therefore get back less than you first invested.
At the end of your chosen term: • We’ll get in touch beforehand to ask what you’d like to do with the money in
your account. You must tell us online.
• We’ll pay you interest on the day your account matures, and you will be able
to take out your money the following day. See Section M for more detail,
including what happens if your account matures on a non-working day.
• If we don’t get instructions from you in time, your account will automatically
change to an Instant Saver, the day after it matures and we pay your interest.
• Instant Saver gives easy access to your savings. You can use it in branch, go
online or phone us. You can ask us for an Instant Saver card.
• We’ll send you full details of Instant Saver. If you keep your savings in your Instant
Saver account, we’ll regard you as having agreed to the new account conditions.
Tracker Bond and Online Tracker Bond each offer a variable interest rate that tracks the Bank of England bank rate (‘bank rate’)
over the term you choose. (Bank rate is sometimes also called the Bank of England base rate.) When you open your account,
we’ll let you know what the ‘margin’ is. This is the fixed percentage above the bank rate that will apply to your account. The
only changes you will see to the interest we pay are those that reflect changes in the bank rate. If the bank rate moves, either
up or down, your interest rate will follow. Choose to save for 18 months or two years.
Tracker Bond
Opening a Tracker Bond
When opening a Tracker Bond you: • Must be 16 or over.
• Must want to save £500+.
• Have up to 10 days from account opening to pay in (and you can make several
payments in during this time). Your account term starts on the day you open
your account (or the next working day), even if you don’t pay anything in
when you open it.
• Can use one of our branches, go online or phone us.
• Can have a joint account.
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Having a Tracker Bond
Our interest on a Tracker Bond: • Will depend on how much you save, for how long and what the bank rate is.
Our Tracker Bond interest rates leaflet and our website have full details.
(To check your rate during your term go online or ask in branch.)
• Will be the bank rate that applies at the time, plus the fixed margin for
your account.
• The bank rate that applies at the start of your term will be the one published
on the first day of the month you open your account.
• Is variable – if the bank rate changes, your interest rate will change in line
with it from the first working day of the month after the Bank of England
change. For example, if you open your account in a month that begins with
the bank rate at 0.50% and the fixed margin that applies to your account is
1.50%, we’ll pay you interest of 2.00% from account opening. If the bank rate
changes at any point to 0.75%, your interest rate will change from the first
working day of the following month to 2.25%.
• Will be paid monthly, on the same date each month as you opened
your account.
• Is paid into your account, or you can ask us to pay it to a different account
held with us or with another bank or building society.
Operating your account: • Use one of our branches with a counter or phone us. You can also go online
to see your account balance and give us your maturity instructions.
• We’ll send you a certificate when you open your account.
• We’ll send you a statement when it matures, and annual statements for
accounts that are for 18 months or 2 years.
• You can’t withdraw part of your savings, but you can close your account
early. You will need to visit one of our branches with a counter to do this. If
you close before the end of the term, you will lose an amount equal to:
– 135 days’ interest for an 18-month term;
– 180 days’ interest for a 2-year term.
• This will be taken from the amount you put in your Tracker Bond when you
opened it. You may therefore get back less than you first invested.
At the end of your chosen term: • We’ll get in touch beforehand to ask what you’d like to do with the money
in your account.
• We’ll pay you interest on the day your account matures, and you will be able
to take out your money the following day. (See Section M for more detail,
including what happens if your account matures on a non-working day.)
• If we don’t get instructions from you in time, your account will automatically
change to an Instant Saver the day after it matures and we pay your
final interest.
• Instant Saver gives easy access to your savings. You can use it in branch, go
online or phone us. You can ask us for an Instant Saver card.
• We’ll send you full details of Instant Saver. If you keep your savings in
your Instant Saver account, we’ll regard you as having agreed to the new
account conditions.
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Online Tracker Bond
Opening an Online Tracker Bond
When opening an Online Tracker
Bond you:
• Must be 16 or over.
• Must want to save £500+.
• Have up to 10 days from account opening to pay in (and you can make several
payments in during this time). Your account term starts on the day you open
your account (or the next working day), even if you don’t pay anything in
when you open it.
• Must go online.
• Can have a joint account.
Having an Online Tracker Bond
Our interest on an Online
Tracker Bond:
• Will depend on how much you save, for how long and what the bank rate
is. Our Online Tracker Bond interest rates leaflet and our website have full
details. (To check your rate during your term go online.)
• Will be the bank rate that applies at the time, plus the fixed margin for
your account.
• The bank rate that applies at the start of your term will be the one published
on the first day of the month in which you open your account.
• Is variable – if the bank rate changes, your interest rate will change in line
with it from the first working day of the month after the Bank of England
change. For example, if you open your account in a month that begins with
the bank rate at 0.50% and the fixed margin that applies to your account is
1.50%, we’ll pay you interest of 2.00% gross from account opening. If the bank
rate changes at any point to 0.75%, your interest rate will change from the
first working day of the following month to 2.25%.
• Will be paid monthly, on the same date each month as you opened
your account.
• Is paid into your account, or you can ask us to pay it to a different account
held with us or with another bank or building society.
Operating your account: • Go online to see your account balance and give us your maturity instructions.
• We’ll send you a certificate when you open your account.
• We’ll send you a statement when it matures, and annual statements for
accounts that are for 18 months or 2 years.
• You can’t withdraw part of your savings, but you can close your account
early. You will need to visit one of our branches with a counter to do this. If
you close before the end of the term you will lose an amount equal to:
– 135 days’ interest for an 18-month term;
– 180 days’ interest for a 2-year term.
• This will be taken from the amount you put in your Online Tracker Bond
when you opened it. You may therefore get back less than you first invested.
At the end of your chosen term: • We’ll get in touch beforehand to ask what you’d like to do with the money in
your account. You must tell us online.
• We’ll pay you interest on the day your account matures, and you will be able
to take out your money the following day. (See Section M for more detail,
including what happens if your account matures on a non-working day.)
• If we don’t get instructions from you in time, your account will automatically
change to an Instant Saver, the day after it matures and we pay your final interest.
• Instant Saver gives easy access to your savings. You can use it in branch, go
online or phone us. You can ask us for an Instant Saver card.
• We’ll send you full details of Instant Saver. If you keep your savings in your Instant
Saver account, we’ll regard you as having agreed to the new account conditions.
14
Children’s savings
These accounts mean someone aged 18 or over can save for a child under 16.
Young Saver and Kids’ Regular Saver
Only one Young Saver and one Kids’ Regular Saver account can be held for any one child. This means it will not be possible, for
example, for a parent and a grandparent to save separately for the same child in different Young Saver accounts.
With Young Saver you can pay in when you like, and dip into the savings. Kids’ Regular Saver lets you save monthly for a year,
with flexibility to miss payments or close if you need to.
Young Saver
Opening a Young Saver
When opening a Young Saver you: • Must be 18 or over, and want to save for a child under 16.
• Must want to save £1+.
• Can use one of our branches or go online.
• Can hold it as one adult for only one child. You, as the adult customer, are
the only one who can open or operate the account.
Having a Young Saver
Our interest on Young Saver: • Is variable – it can change while you have the account. For the rate, see our
‘Savings rates’ leaflet or our website.
• Is paid on the anniversary of account opening.
• Is paid into your account, or you can ask us to pay it to a different account
with us or another bank or building society.
Operating your account: • Use our branches.
• Use a card as long as the child is 7 or over – just ask in branch if you’d like
one. The card will be in the child’s name to help you tell it apart from other
Halifax cards you may have.
• You get regular statements to help you keep track. How often you get
statements will depend on whether or not you take out money with
your card and how much you use your account. We’ll provide you with a
statement at least once a year.
After the child reaches 16: • You’ll be able to transfer the money into an account in the child’s name if
you wish, or keep control of it if you prefer, for example if you are saving
until the child is older.
15
Kids’ Regular Saver
Opening a Kids’ Regular Saver
When opening a Kids’ Regular
Saver you:
• Must be 18 or over, and want to save for a child under 16.
• Must want to save between £10 and £100 each calendar month by
standing order.
• Can use one of our branches or go online.
• Can hold it as one adult for only one child. You, as the adult customer are
the only one who can open or operate the account.
• Must choose a Halifax savings account in your name in trust for the child or
in the child’s own name, for us to transfer your savings to after a year. The
account can either be a Save4it (no longer available to new customers) or a
Young Saver. If you don’t already have a suitable account, we’ll open a Young
Saver at the same time you open your Kids’ Regular Saver.
Having a Kids’ Regular Saver
Our interest on Kids’ Regular Saver: • Is fixed for 12 months.
• Is paid on the anniversary of account opening. As we work out the interest
each day and pay it after 12 months, you won’t get a full year’s interest on the
total amount you save. For example, if you save £10 each month, we’ll pay
you interest on your first £10 for 12 months, on the second £10 for 11 months,
on the third £10 for 10 months and so on. There’s a worked example in our
Kids’ Regular Saver interest rate leaflet, and on our website.
• Is paid into your account.
Operating your account: • Use one of our branches with a counter.
• Make sure we get your first standing order payment within 28 days of
account opening. After that any standing order must reach your account by
the 25th of the month, otherwise it won’t count as that month’s payment.
• You can only pay in once a month.
• You don’t have to pay in every month, and you can change the amount you
save each month at any time. You also have easy access to your savings. Use
one of our branches with a counter if you want to close before the end of
12 months.
• We’ll provide a statement at least once a year.
After 12 months: • We’ll transfer your savings and interest to the account you chose. This will
happen each year on the day after the anniversary of your Kids’ Regular Saver
account opening. (See Section M for more detail on what happens if that
anniversary is a non-working day.) Your monthly payments into your Kids’
Regular Saver account will continue, and will earn interest at the Kids’ Regular
Saver rate that applies at the time.
• If you don’t have an account for us to transfer your savings and interest to,
for example because you have closed the account you chose, your savings
will stay in your Kids’ Regular Saver account and we’ll change that account to
a Young Saver. Your regular payments will continue. We’ll write and let you
know. If you continue to save in your Young Saver account, we’ll regard you
as having agreed to the new account conditions.
Extra note When we transfer your money after the anniversary of your Kids’ Regular Saver,
there will be a short time (usually just a few minutes) when you won’t be able to
withdraw it from either account.
16
Kids’ Saver and Kids’ Monthly Saver
Only two Kids’ Saver accounts and one Kids’ Monthly Saver account can be held for any one child. This means we will need to
tell anyone who tries to open an additional account that the limit has already been reached.
Kids’ Saver
Opening a Kids’ Saver
When opening a Kids’ Saver you: • Must be 18 or over, and want to save for a child aged 15 or under.
• Must have the consent of the parent or legal guardian of the child if you are
not the parent or legal guardian yourself. This is to allow us to have limited
information about the child so that we can open and operate the account. Once
the account is open we’ll write to the child’s parent or legal guardian to confirm
an account has been opened. If you are not the child’s parent or legal guardian
and a parent or legal guardian tells us they do not consent to you having the
account, we will close it as soon as we can and return the money saved.
• Must want to save £1+.
• Can use one of our branches or go online.
• Will hold the account as trustee for the child you are saving for. You are the
only one who can open and operate the account. You can only save for one
child in an account, but you can open more than one Kids’ Saver account to
save for several children separately.
• Understand that being a trustee means you must manage the account for
the child’s benefit, and that the child can claim the money from you in the
future. Generally a trustee will transfer money in a trust account to the
child once he or she is old enough. The age this happens will usually be 16
or above.
• Understand that once the child is old enough we will tell them that we hold
some information about them.
• Understand that up to two Kids’ Saver accounts can be held for any one child,
for example if two parents want to save separately. This means if there are
already two accounts and someone else tries to open a Kids’ Saver account
for the same child we will let them know the limit has already been reached.
Having a Kids’ Saver
Our interest on Kids’ Saver: • Is variable – it can change while you have the account. For the rate see our
‘Savings rates’ leaflet or our website.
• Is paid monthly, on the same date each month as you opened the account.
• Is generally treated as the child’s income. You should consider whether this,
and any other income the child has, should be reported to HM Revenue
& Customs (HMRC). Bear in mind that if a parent gives money to a child
(including saving in a trust account for the child), it is possible that the
interest from it may count as the parent’s income for tax purposes. This
applies if the money is held in just one account or a number of different
accounts. (See Section N for more information.)
• Because the interest is generally treated as the child’s income, the child’s
details may need to be reported to HMRC or another overseas Tax Authority
in accordance with law, legislation or regulation of the UK.
• Is paid into the account.
Operating your account: • Use one of our branches with a counter, go online or phone us.
• You have easy access, so you can pay in and withdraw when you need to. Use
one of our branches with a counter if you want to take any money out.
• You get regular statements to help you keep track. How often you get
statements will depend on how much you use your account. We’ll provide
you with a statement at least once a year.
17
In the future: • We’ll contact you once the child is old enough, in case you want to talk to us
about his or her financial needs. We will not do this before the child’s 11th birthday.
• We’ll also contact you before we let the child know about the information
we hold. This may be relevant if you do not think the child should know
about the savings yet. The age we need to contact the child will depend on
the data protection rules and guidance that apply. We will not do this before
the child’s 13th birthday.
• In addition we will contact you before the child’s 16th birthday. You’ll be able to
transfer the money into a new account in the child’s name if you wish, or keep
control of the savings if you prefer, for example if you want to save until the child
is older. If you decide to keep control of the money, on the child’s 16th birthday
the account will automatically change to an Everyday Saver account, which you
will also hold on trust for the child. Everyday Saver is an easy access account too.
• We’ll send you full details of Everyday Saver including the interest rate, which
may be lower. If you keep the savings in your Everyday Saver account, we’ll
regard you as having agreed to the new account conditions.
• If you die before the child’s 16th birthday your executor will be able to nominate
a replacement trustee to continue to hold the savings for the child’s benefit.
• If the child dies before his or her 16th birthday you will be able to close the
account. Please contact one of our branches with a counter to do this.
Kids’ Monthly Saver
Opening a Kids’ Monthly Saver
When opening a Kids’ Monthly
Saver you:
• Must be 18 or over, and want to save on trust for a child aged 15 or under.
• Must have the consent of the parent or legal guardian of the child if you are
not the parent or legal guardian yourself. This is to allow us to have limited
information about the child so that we can open and operate the account. Once
the account is open we’ll write to the child’s parent or legal guardian to confirm
an account has been opened. If you are not the child’s parent or legal guardian
and a parent or legal guardian tells us they do not consent to you having the
account, we will close it as soon as we can and return the money saved.
• Want to save between £10 and £100 each calendar month by standing order.
• Can use one of our branches or go online.
• Must have a Kids’ Saver account on trust for the same child for us to transfer
your savings to after a year. We’ll open one for you at the same time you
open your Kids’ Monthly Saver. (We’ll do this even if there are already 2 Kids’
Saver accounts held for the child.)
• Will hold the account as trustee for the child you are saving for. You are the
only one who can open and operate the account. You can only save for one
child in an account, but you can open more than one Kids’ Monthly Saver
account to save for several children separately.
• Understand that being a trustee means you must manage the account for
the child’s benefit, and that the child can claim the money from you in the
future. Generally a trustee will transfer money in a trust account to the child
once he or she is old enough. The age this happens will often be 16 or above.
• Understand that once the child is old enough we will tell them that we are
holding some information about them.
• Understand that only one Kids’ Monthly Saver account can be held for any
one child. This means if anyone else tries to open a Kids’ Monthly Saver
account for the same child we will let them know that one already exists.
Having a Kids’ Monthly Saver
Our interest on Kids’ Monthly Saver: • Is fixed for 12 months. For the rate see our Kids’ Monthly Saver interest rate
leaflet’ or our website.
• Is paid on the anniversary of account opening. As we work out the interest
each day and pay it after 12 months, you won’t get a full year’s interest on the
total amount you save. For example, if you save £10 each month, we’ll pay
you interest on your first £10 for 12 months, on the second £10 for 11 months,
on the third £10 for 10 months and so on. There’s a worked example in our
Kids’ Monthly Saver interest rate leaflet or our website.
18
• Is generally treated as the child’s income. You should consider whether this,
and any other income the child has, should be reported to HM Revenue
& Customs (HMRC). Bear in mind that if a parent gives money to a child
(including saving in a trust account for the child), it is possible that the
interest from it may count as the parent’s income for tax purposes. This
applies if the money is held in just one account or a number of different
accounts. (See Section N for more information.)
• Because the interest is generally treated as the child’s income, the child’s
details may need to be reported to HMRC or another overseas Tax Authority
in accordance with any law, legislation or regulation of the UK.
• Is paid into the account.
Operating your account: • Use one of our branches with a counter, go online or phone us.
• Make sure we get your first standing order payment within 28 days of
account opening. After that any standing order must reach your account by
the 25th of the month, otherwise it won’t count as that month’s payment.
• You can only pay in once a month.
• You don’t have to pay in every month, and you can change the amount you
save each month at any time. You have easy access to your savings. You cannot
withdraw part of the money in the account, but you can close it at any time.
Use one of our branches with a counter if you want to close your account.
• We’ll provide you with a statement at least once a year.
After 12 months: • As long as the child is still 15 or under, we’ll transfer your savings and interest
to your Kids’ Saver account. This will happen each year on the anniversary of
your Kids’ Monthly Saver account opening. (See Section M for more detail
on what happens if that anniversary is a non-working day.) Your monthly
payments into your Kids’ Monthly Saver will continue, and will earn interest
at the Kids’ Monthly Saver rate that applies at the time.
• As long as the child is still 15 or under, if you don’t have an account for us to
transfer your savings and interest to, for example because you have closed
your Kids’ Saver, your savings will stay in your Kids’ Monthly Saver and we’ll
change that account to a Kids’ Saver. Your regular payments will continue.
We’ll write and let you know. If you continue to save in your new Kids’ Saver
we’ll regard you as having agreed to the new account conditions.
In the future: • On the Kids’ Monthly Saver anniversary which follows the child’s 16th
birthday, we’ll transfer your savings and interest to the account your Kids’
Saver changed to on the child’s 16th birthday. (See Section M for more detail
on what happens if that anniversary is a non-working day.) We will then
automatically close your Kids’ Monthly Saver.
• If you don’t have an account for us to transfer your savings and interest to on
the Kids’ Monthly Saver anniversary which follows the child’s 16th birthday, for
example because you have closed your Kids’ Saver, your savings will stay in your
Kids’ Monthly Saver and we’ll change that account to an Everyday Saver, which
you will also hold as trustee for the child. Your regular payments will continue.
We’ll write and let you know. If you continue to save in your Everyday Saver we’ll
regard you as having agreed to the new account conditions.
• We’ll send you full details of Everyday Saver including the interest rate, which
may be lower. If you keep the savings in your Everyday Saver, we’ll regard you
as having agreed to the new account conditions.
• We’ll also contact you before we let the child know about the information
we hold (unless we have already done this because you have a Kids’ Saver
for the child). This may be relevant if you do not think the child should know
about the savings yet. The age we need to contact the child will depend on
the data protection rules and guidance that apply. We will not do this before
the child’s 13th birthday.
• If you die before the child’s 16th birthday your executor will be able to nominate
a replacement trustee to continue to hold the savings for the child’s benefit.
• If the child dies before his or her 16th birthday you will be able to close the
account. Please contact one of our branches with a counter to do this.
Extra note When we transfer your money after the anniversary of your Kids’ Monthly
Saver, there will be a short time (usually just a few minutes) when you won’t be
able to withdraw it from either account.
19
Cash ISAs
The following conditions apply to all our Halifax cash ISAs
Some special conditions apply only to the particular ISA you choose. They start on page 23, after these conditions which
apply to all our cash ISAs.
A bit about ISAs
ISAs (Individual Savings Accounts) help people save tax efficiently.
The Government limits the amount you can save in ISAs, has rules on who can apply and restricts the number of ISAs you can
have. Our savings literature shows the ISA limits and has other key information about ISAs.
An ISA can be a cash ISA, stocks and shares ISA, innovative finance ISA or lifetime ISA. A Help to Buy: ISA is a type of cash ISA,
for certain people saving for their first home. As Help to Buy: ISA customers can qualify for a Government bonus, there are
lower savings limits and only certain customers can apply.
If you’re 16 or over then in any tax year, you can generally pay into a cash ISA and if you’re 18 or over, a stocks and shares ISA or
an innovative finance ISA. You can save in any type or combination of all these. Depending on your age and circumstances you
may also be able to save in a lifetime ISA. You can save up to the overall annual ISA savings limit, but bear in mind that some
ISAs have their own limits. Your ISAs do not need to be with the same ISA provider.
With Junior ISAs (for those 17 and under) a child can have one junior cash ISA and one stocks and shares junior ISA.
With Help to Buy: ISAs you can pay into a Help to Buy: ISA, a stocks and shares ISA and an innovative finance ISA in any tax
year. Depending on your age and circumstances you may also be able to save in a lifetime ISA. Generally you cannot pay into
an ordinary [non help to buy] cash ISA too because the Government’s ISA rules mean you must not subscribe to more than
one cash ISA in any tax year. If you save in both a Help to Buy: ISA and a lifetime ISA, you can only use the Government bonus
from one of those accounts to buy your first home.
There’s no income tax on any interest we pay on our cash ISAs. If you have a stocks and shares ISA, an innovative finance ISA
or lifetime ISA, any income or growth from your investment will be free of both income tax and capital gains tax. The tax
treatment of any account will depend on your individual circumstances and may change in the future.
If there are any relevant changes to the ISA regulations, we’ll apply them to your account straight away.
The ISAs explained in this booklet are all cash ISAs. They only hold money, not stocks and shares.
ISA Promise
• When you switch your ISA to us we won’t wait for your current provider; we pay interest from day one of receiving your
completed transfer application as long as your funds are free to transfer.
• We’ll keep you informed
– While switching your cash ISA or Child Trust Fund to us.
– When your cash ISA is coming to the end of a fixed term.
– Of your interest rate on paper statements, online and mobile.
• We won’t offer any of our cash ISA products to new customers only.
Our ISA Promise is part of our agreement with you.
If your transfer is delayed because your existing ISA or Child Trust Fund has a notice period or restriction, your current
provider will let us know when it will be free to move to us, and we’ll pay interest from that date.
Opening a Halifax cash ISA
When opening a Halifax cash ISA you: • Must be 16 or over. (If it’s a Junior Cash ISA, the child must be 17 or under. Any
adult with parental responsibility who opens it must be 16 or over.)
• Must be resident in the UK for tax purposes or a Crown employee serving
overseas, or be married to or in a civil partnership with a Crown employee
serving overseas. (If it’s a Junior Cash ISA, the child must be resident in the UK
for tax purposes, or be dependent on a Crown employee serving overseas.)
• Must give us your National Insurance number and date of birth. (For a
Junior Cash ISA we need the child’s National Insurance number if they are
16 or over.)
• Must want an account in your sole name – you can’t open a joint ISA.
• Must meet the particular requirements of the Government’s Help to
Buy: ISA scheme rules if it’s a Help to Buy: ISA. (See the Help to Buy: ISA
section below.)
20
Having a Halifax cash ISA
If you have a Halifax cash ISA you: • Must not subscribe to more than one cash ISA in the same tax year. For
example you must not pay new ISA contributions into both a Help to Buy:
ISA and a different cash ISA in the same tax year. There are exceptions if
you’ve transferred your cash ISA; you’ve previously closed another Help to
Buy: ISA and now want to open a new one; or you’re using the additional
permitted subscription allowance after the death of your spouse or
civil partner.
• Must not use it as security for a loan.
• Must not transfer it to anyone else.
• Must not use it to hold money for someone else, for example as a trustee.
(For Junior Cash ISAs, the child owns the money saved and the account is
held in their name, even if it is operated by an adult. Money in a Junior Cash
ISA cannot be used to pay any other debts to us.)
• Must tell us if you move abroad. If you’re no longer a UK resident for tax
purposes, your cash ISA will continue to receive interest tax free, but you
won’t be able to pay any more money into it (unless you are a Crown
employee serving overseas, or you are married to or in civil partnership with
a Crown employee serving overseas). (For Junior Cash ISAs, payments can still
be made into the account if the child no longer lives in the UK.)
• Must make a new application if you’ve not paid anything in for a full tax year
and you want to make a fresh payment into your cash ISA. This does not
apply if you want to pay money you withdrew during the current tax year
but have not replaced back into your account.
We will contact you if a failure to follow
the ISA rules means an ISA has, or will,
become void. (If it’s a Junior Cash ISA
we will get in touch with the Registered
Contact.) If a cash ISA becomes void
income tax may be due on the interest
earned, including any interest that has
already been paid. You are responsible
for paying any tax due to HM Revenue
& Customs. If you have a Help to Buy:
ISA, and your account cannot continue
as a Help to Buy: ISA, we will convert
it to an easy access cash ISA. We will
continue to pay you interest tax free
but you won’t be able to claim any
Help to Buy: ISA bonus on your savings.
If that cash ISA then becomes void,
income tax may be due on the interest
earned, including any interest that has
already been paid. You are responsible
for paying any tax due to HM Revenue
& Customs.
If your ISA is flexible (but is neither
a Help to Buy: ISA nor an ISA Saver
Fixed) then:
• You can withdraw up to the total amount in your ISA (including amounts you
paid in during previous tax years).
• As long as you do so in the same tax year, you can then replace withdrawals
from your cash ISA by paying them back into the same account. For example,
if you withdrew savings you paid in during the 2015/16 tax year in the 2017/18
tax year, to keep saving that money tax free you would have to pay it back in
before 5th April 2018.
• If you make a withdrawal and then pay money into your cash ISA in the
same tax year, we’ll assume you are replacing some or all of the money you
withdrew. This means your payments in to your cash ISA will only count
towards your ISA savings limit if the total amount you pay in is more than
you’ve withdrawn in that tax year.
• You cannot pay back in the amount of any withdrawal you made in a
previous tax year. If you do not pay back the amount of any withdrawal in
the same tax year, you will limit the overall amount you can save tax free.
• If you withdraw all or part of the money you paid into your cash ISA earlier
this tax year but don’t replace it in your cash ISA, you can pay the equivalent
amount into a stocks and shares ISA, innovative finance ISA or (depending on
your age and circumstances) a lifetime ISA before the end of this tax year as
part of your annual ISA allowance.
• If you make a withdrawal and do not pay the amount of that withdrawal
back in before you close your account, you cannot repay the amount into a
different cash ISA you have with another provider even if it is the same tax
year and that ISA is also flexible.
• If you withdraw any amount and later want to replace it in the same tax year,
you should do this before you close or transfer your ISA. You will not be able
to replace the amount afterwards, and so would limit the amount you can
save tax free. If you change your ISA to an ISA Saver Fixed, you can replace
any withdrawals either before this change or during the first 60 days, when
you can still make payments into an ISA Saver Fixed.
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ISA transfers
ISAs can be transferred from one ISA provider to another.
What can I transfer? • Your existing cash ISA, stocks and shares ISA or innovative finance ISA from
another provider to a cash ISA with Halifax.
• Your existing lifetime ISA from another provider to a Halifax cash ISA.
• The balance in a Child Trust Fund to a Junior Cash ISA with Halifax.
• Your existing junior cash ISA or stocks and shares junior ISA to a Junior Cash
ISA with Halifax.
How long will it take? • If you’re transferring an existing cash ISA or junior cash ISA, it should not take
more than 15 working days.
• If you’re moving an existing stocks and shares ISA, innovative finance ISA,
lifetime ISA, stocks and shares junior ISA or Child Trust Fund it should not
take more than 30 calendar days.
• If you ask to transfer your cash ISA to another provider, we will send them
your ISA savings and information within 5 working days of receiving your
transfer request.
If you’re transferring to Halifax,
please remember
• Before you decide whether to transfer your existing ISA or Child Trust Fund
to us, check your existing provider’s charges for doing this – for example exit
costs or charges for closing your existing account early. Special rules apply
to lifetime ISAs and a Government charge applies to some withdrawals. You
should ask your lifetime ISA provider for full details.
• If you want to transfer a stocks and shares ISA, lifetime ISA or Child Trust
Fund, any stocks and shares will be sold as part of the process, because we
only hold cash in the ISAs explained in this booklet. If the price of the stocks
and shares you held go up while the transfer is happening, you will lose out
on any increase in value.
• If you want to transfer from another ISA to a Help to Buy: ISA, you must not
transfer more than the Help to Buy: ISA initial deposit limit. (Remember that
interest may be added if you transfer the whole amount in your existing ISA.)
You can’t use a transfer to pay your Help to Buy: ISA monthly deposit.
• There is loss of interest for early closure of some of our cash ISAs, and this
will apply if you transfer your account to another provider. You should
tell your new ISA provider whether you want to transfer straight away, or
wait for your existing ISA to mature so that the funds can be transferred
without charge.
• If your account conditions limit the number of withdrawals you can make
from your ISA, a transfer to another ISA provider will count as a withdrawal.
• If you are the spouse or civil partner of a deceased ISA holder, you can
transfer a Halifax cash ISA you have used to save all or part of any additional
permitted subscription allowance in the same way as our other ISAs. Any
remaining unused additional permitted subscription allowance will remain
with Halifax.
• Particular rules apply if you want to transfer a Help to Buy: ISA. (See the Help
to Buy: ISA section below.)
22
For any ISA transfer, please remember • If you ask to transfer your flexible ISA in full and you have withdrawn all or
part of any amount you paid in during a previous tax year, you will not be
able to replace these withdrawals once the transfer process starts. This will
limit the amount you can save tax free. For example, if you saved £5,000 in
your Halifax ISA during the 2015/16 tax year and withdrew £2,500 of it during
the 2017/18 tax year, you would not be able to replace the £2,500 if you then
asked to transfer all the money in your Halifax ISA to another ISA provider.
To prevent this you could replace your withdrawn savings before you transfer
your ISA in full.
• Generally you can’t subscribe to more than one cash ISA in the same tax year.
However, you can transfer the money you’ve saved this tax year to another
ISA. If you transfer it to a stocks and shares ISA or an innovative finance ISA,
you’ll be able to open another cash ISA as long as overall you don’t save
more than the annual limit.
• A child can’t have more than one junior cash ISA. However, the funds can
be transferred in full to another junior cash ISA. Alternatively the money
saved during the current tax year, and all or part of the money paid in
during a previous tax year, can be transferred to a stocks and shares junior
ISA. If all the money is transferred to a stocks and shares junior ISA, then
another junior cash ISA can be opened as long as the annual limit is not
exceeded. From the age of 16 to their 18th birthday, a child can hold a cash
ISA and a junior cash ISA, and make payments into both up to the relevant
annual limits.
• Money can’t be transferred from a junior cash ISA to a Child Trust Fund.
• Money can’t be transferred from a cash ISA to a junior cash ISA, or from a
junior cash ISA to a cash ISA.
ISAs on death
Special rules apply when an ISA holder dies.
How we treat our cash ISAs for adults
if the ISA holder dies
If you die the tax free status of your ISA ends on the date of your death. Once
we’re notified, we’ll transfer your ISA balance to a new easy access savings
account, and whoever looks after your estate will be able to close it. We will
pay the interest gross. They will be responsible for notifying HM Revenue &
Customs and paying any tax due.
Additional permitted subscription
allowance
• A spouse or civil partner who was living with an ISA holder when he or she
died can qualify to save an ‘additional permitted subscription’.
• If you qualify you can pay in up to the amount the ISA holder had in ISAs
at the date of death (including any interest earned up to that date). The
Government’s ISA rules explain how long you have to do this, but usually you
have up to three years from the ISA holder’s death.
• You must be 16 or over to qualify.
• The additional permitted subscription allowance does not include any
withdrawal(s) from the deceased customer’s flexible ISA(s) that had been
withdrawn but not replaced at the date of death.
• The additional permitted subscription allowance does not apply after the
death of a junior cash ISA holder.
• Neither a Junior Cash ISA nor a Help to Buy: ISA can be used for the extra ISA
savings allowance.
23
How we treat our Junior Cash ISAs If the child dies, the tax-free status of the Junior Cash ISA ends with the child’s
death. Once we’re notified, whoever is looking after the child’s estate can
choose to close the account by bank draft or transfer the money in it to an
existing account or a new easy access savings account. We will pay interest
gross. Whoever is looking after the estate will be responsible for notifying HM
Revenue & Customs and paying any tax which is due.
Help to Buy: ISA If a Help to Buy: ISA customer dies, any spouse or civil partner who was
living with him or her when he or she died can qualify to save an ‘additional
permitted subscription’, but cannot claim any Help to Buy: ISA bonus that the
late ISA customer may have qualified for.
The following special conditions also apply if you have an ISA Saver Variable
ISA Saver Variable lasts for 12 months.
When opening an account you:
• Must want to save £1+
• Can transfer money you’ve saved in another ISA to Halifax.
• Can use one of our branches, go online or call us.
Our interest on ISA Saver Variable: • Is variable – it can change during the 12 month term. For the rate see our
‘Savings rates’ leaflet or our website.
• Is paid on the anniversary of account opening if you opened your account
on or after 19th May 2015 (or if your account anniversary is not a working
day, the working day immediately after) unless the bullet-point that follows
immediately after this one applies to you.
• Is paid on 5th April if your ISA Saver Variable has already been open for more
than 12 months and did not mature into Instant ISA Saver, even if you opened
it after 19th May 2015 (or if 5th April’s not a working day, the working day
immediately before).
• Is paid each year on 5th April, if you opened your account on or before
18th May 2015 (or if 5th April’s not a working day, the working day
immediately before).
• Is paid into your account. You can ask us to pay it to a different account with
us or another bank or building society. But if we do so it won’t be tax free
afterwards – you can’t earn tax-free interest on that interest.
Operating your account: • Use one of our branches with a counter, go online or call us.
• As it’s a flexible ISA remember that if you make a withdrawal but want to
maximise your tax free savings, you should pay that money back in to this
account before the end of the tax year, otherwise you will limit the amount
you can save in your cash ISA tax free.
• We’ll provide you with a statement at least once a year.
After 12 months: • Your account will automatically change to an Instant ISA Saver the day after
it matures and we pay your interest. See Section M for more detail on what
happens if your account matures on a non-working day.
• Instant ISA Saver also gives easy access to your savings, and is a flexible ISA.
You can use it in one of our branches with a counter, go online or call us.
• We’ll remind you beforehand and send full details of Instant ISA Saver. If you
keep your savings in your Instant ISA Saver, we’ll regard you as having agreed
to the new account conditions.
24
The following special conditions also apply if you have an ISA Saver Online
ISA Saver Online lasts for 12 months.
When opening an account you:
• Must want to save £1+
• Can transfer money you’ve saved in another ISA to Halifax.
• Must go online.
Our interest on ISA Saver Online: • Is variable – it can change during the 12 month term. For the rate see our
‘Savings rates’ leaflet or our website.
• Is paid each year on the anniversary of account opening if you opened your
account on or after 19th May 2015 (or if your account anniversary is not a
working day, the working day immediately after).
• Is paid on 5th April, if you opened your account on or before 18th May 2015
(or if 5th April’s not a working day, the working day immediately before).
• Is paid into your account. You can ask us to transfer it to a different account,
with us or another bank or building society. But if we do so it won’t be tax
free afterwards – you can’t earn tax free interest on that interest.
Operating your account: • Online only.
• As it’s a flexible ISA remember if you make a withdrawal, but want to
maximise your tax free savings. You should pay that money back in to this
account before the end of the tax year otherwise you will limit the overall
amount you can save in your cash ISA tax free.
• We’ll provide you with a statement at least once a year.
After 12 months: • Your account will automatically change to an Instant ISA Saver the day after
it matures and we pay your interest. See Section M for more detail on what
happens if your account matures on a non-working day.
• Instant ISA Saver also gives easy access to your savings, and is a flexible ISA.
You can use it one of our branches with a counter, go online or call us.
• We’ll remind you beforehand and send full details of Instant ISA Saver. If you
keep your savings in your Instant ISA Saver, we’ll regard you as having agreed
to the new account conditions.
The following special conditions also apply if you have an ISA Saver Fixed
When opening an ISA Saver Fixed you: • Must want to save £500, for a fixed term from 18 months to 5 years. Not all
of these are available to new customers at all times, but these conditions
cover all the terms.
• Can transfer money you’ve saved in another ISA to Halifax.
• Can use one of our branches, go online or call us.
• Have up to 60 days from account opening to pay in (and you can make
several payments in during this time).
• If you change one of our variable rate flexible cash ISAs (like ISA Saver
Variable) to an ISA Saver Fixed then for making payments into your account,
your ISA Saver Fixed will also be a flexible ISA for these 60 days. You will be
able to replace any withdrawals you made from your variable rate flexible
cash ISA before the change. You must do this before the end of the 60
days or (if earlier) the end of the tax year otherwise you will limit the overall
amount you can save tax free. If you already have an ISA Saver Fixed and
choose to reinvest some of your ISA savings at maturity in another ISA Saver
Fixed, you will be able to replace the amount you don’t invest at maturity.
You must do this before the end of the 60 days or (if earlier) the end of
the tax year.
25
When opening an ISA Saver Fixed you:
(continued)
• You cannot pay any more money into your ISA Saver after the first 60 days.
This means if you put in less than the annual ISA allowance you will limit the
amount you can save in a cash ISA (although you will be able to save in other
types of ISA).
Our interest on ISA Saver Fixed:
• Is fixed – it will not change during the term you choose. For the rate for the
different fixed terms, see our ISA Saver Fixed interest rate leaflet or our website.
• Is paid either monthly or annually:
– We’ll pay monthly interest on the same date each month as you opened
your account.
– We’ll pay annual interest each year on the anniversary of the date you
opened your account.
– Monthly interest may be at a different rate to annual interest.
• Is paid into your account. If you opened it on or after 20th January 2014 you
can ask us to transfer it to a different account, with us or another bank or
building society. But if we do so it won’t be tax free afterwards – you can’t
earn tax free interest on that interest.
Operating your account: • Use one of our branches with a counter or call us. You can also go online to
see your account balance and give us your maturity instructions.
• We’ll send you a certificate when you open your account.
• We’ll send you a statement when it matures, and annual statements for
accounts that are for 18 months, 2, 3, 4 or 5 years.
• You can’t withdraw part of your savings, but you can close your account
early. You will need to visit one of our branches with a counter to do this. If
you close before the end of the term, you will lose an amount equal to:
– 90 days’ interest for a 1 year term.
– 135 days’ interest for an 18 month term.
– 180 days’ interest for a 2 year term.
– 270 days’ interest for a 3 year term.
– 320 days’ interest for a 4 year term.
– 365 days’ interest for a 5 year term.
• This will be taken from the amount you put in your ISA Saver Fixed when you
opened it. You may therefore get back less than you first invested.
At the end of your chosen term: • We’ll contact you in advance to ask what you want to do.
• We’ll pay you interest the day your account matures. You will be able to
withdraw it the following day. See Section M for more detail, including what
happens if your account matures on a non-working day.
• If we don’t get instructions from you in time, your account will automatically
change to an Instant ISA Saver, the day after it matures and we pay
your interest.
• Instant ISA Saver gives easy access to your savings and is a flexible ISA. You
can use it in one of our branches with a counter, go online or call us.
• We’ll send you full details of Instant ISA Saver. If you keep your savings in
your Instant ISA Saver, we’ll regard you as having agreed to the new account
conditions.
26
The following special conditions also apply if you have a Junior Cash ISA
When opening a Junior Cash ISA you: • Must want to save £1+.
• Can ask to transfer money you’ve saved in another junior ISA or Child Trust
Fund to Halifax.
• Use one of our branches or go online.
• Must be:
– 16 or 17 if you are a child opening a Junior Cash ISA yourself; or
– 16 or over if you are opening a Junior Cash ISA for a child 15 or under
for whom you have parental responsibility. This will make you the
‘Registered Contact’.
Our interest on Junior Cash ISA: • Is variable – it can change while you have the account. For the rate see our
‘Savings rates’ leaflet or our website.
• Is paid on 5th April each year (or if 5th April’s not a working day, the working
day immediately before).
• Is paid into the account.
Operating the account: • Use one of our branches with a counter.
• Anyone can pay into a Junior Cash ISA in our branches that have counters, or
by online transfer. Any such payments are a gift to the child – they can’t be
returned even when the account matures.
• Once the Junior cash ISA annual limit is reached we can’t accept any more
payments in, and will either refuse or return them. If this happens you (as
Registered Contact) agree we can explain to anyone who wants to pay in that
the annual limit’s been reached.
The Registered Contact: • Must manage the account until the child reaches 18 (unless the child wants to
take it over before then).
• Should be aware that from the age of 16, the child can contact one of our
branches with a counter and ask to replace you as Registered Contact,
whether or not you agree. We’ll write to you before the child turns 16 to
explain what he or she needs to do to become Registered Contact.
• Can be replaced by someone else over 16 with parental responsibility, if
you agree.
• Can sometimes be replaced without your consent, for example if you no
longer have responsibility for the child or cannot be contacted.
Access: • Other than a transfer to another Junior ISA, no withdrawals are allowed until
the child reaches 18 unless the child becomes terminally ill or dies.
• If the child does become terminally ill and you want to withdraw the money,
we need HMRC’s consent. We will pay tax-free interest up to the date
of closure.
Once the child reaches 18: • As long as there is money in the Junior Cash ISA it will automatically become
an easy access cash ISA. The child will be able to operate it once he or she
has activated it.
• We’ll contact you and the child in advance with more details of the easy
access cash ISA and how to activate it.
• If there is no money in the Junior Cash ISA we will close it.
27
The following special conditions also apply if you have an Instant ISA Saver – Not available to new customers
To open an Instant ISA Saver you: • Must want to save at least £1+.
• Can transfer money you’ve saved in another ISA to Halifax.
• Can use our branches, go online or call us.
Our interest on Instant ISA Saver: • Is variable – it can change while you have your account. For the rate see our
‘Savings rates’ leaflet, or our website.
• Is paid:
– each year on the anniversary of account opening, if you originally opened
your account as an Instant ISA Saver (or if your account anniversary is not
a working day, the working day immediately after);
– each year on the anniversary of opening your ISA Saver Variable or ISA
Saver Online, if your account matured into Instant ISA Saver from an ISA
Saver Variable or an ISA Saver Online that was opened on or after 19th
May 2015 (or if your account anniversary is not a working day, the working
day immediately after);
– each year on 5th April, if your account matured into Instant ISA Saver
from an ISA Saver Variable or an ISA Saver Online that was opened on or
before 18th May 2015 (or if 5th April’s not a working day, the working day
immediately before);
– each year on 5th April, if your account was previously called Halifax
ISA Saver Direct (or if 5th April’s not a working day, the working day
immediately before);
– each year on the anniversary of opening your ISA Saver Fixed or Fixed
Rate ISA Saver, if your account matured into Instant ISA Saver from an ISA
Saver Fixed or a Fixed Rate ISA Saver and you did not choose monthly
interest (or if your anniversary date’s not a working day, the working day
immediately after); or
– monthly on the same day each month as the day of account opening, if
you originally opened your account as an ISA Saver Fixed and you chose
monthly interest (or if the account opening date isn’t a working day, the
working day immediately after).
• Is paid into your account. You can ask us to transfer it to a different account
with us or another bank or building society. But if we do so it won’t be tax
free afterwards – you can’t earn tax free interest on that interest.
Operate your account: • Use one of our branches with a counter, go online or call us.
• As it’s a flexible ISA remember if you make a withdrawal but want to
maximise your tax-free savings, you should pay that money back in to this
account before the end of the tax year otherwise you will limit the overall
amount you can save in your cash ISA tax free.
The following special conditions also apply if you have a Halifax Help to Buy: ISA
Important – Our Cash ISA Guide contains extra information about Help to Buy: ISAs, including the savings limits, how much
bonus you can qualify for and the value of any home you want to buy. It’s also important to read the Government’s Help to
Buy: ISA scheme rules (we call these the ‘Scheme Rules’) as they are part of the contract for your Halifax Help to Buy: ISA.
These explain in detail how the Help to Buy: ISA scheme works, and contain some restrictions and key definitions (including
the definitions of Eligible Customer, Registered Property Owner and First Time Buyer). Where relevant we use terms from the
Scheme Rules in these conditions. You can get a copy of the Scheme Rules at Helptobuy.gov.uk/isa If there is any overlap
between the Scheme Rules and the way we explain how our Help to Buy: ISAs work in these conditions, our conditions apply.
If you take part in the Government’s Help to Buy: ISA scheme, this will not mean you automatically:
• qualify for any other financial product, either from us or from any other bank or building society; or
• qualify for, or are eligible to participate in, any other help to buy scheme or programme offered by the Government.
At the start of the Government’s Help to Buy: ISA scheme, the scheme administrator will be the UKAR Corporate Services
Limited (UKAR) (we call them the ‘scheme administrator’).
28
Please note
By holding a Help to Buy: ISA with us you agree that we can share relevant information about you and your Help to Buy: ISA
savings to, amongst others, the Help to Buy: ISA scheme administrator, which is responsible for processing any claim you make.
You can find more detail on how your information is used below:
a) HM Treasury (https://www.gov.uk/government/organisations/hm-treasury) is the Data Controller for the Help to Buy:
ISA Scheme;
b) Information relating to each Eligible Customer will be shared with HM Treasury, UKAR (as Administrator of the Scheme) and
UKAR contractors and Third Parties. The purposes of doing this are to enable HM Treasury and the Administrator/UKAR and
the UKAR contractors to:
– administer the Help to Buy: ISA Scheme including confirming eligibility for the Scheme and paying bonuses;
– carry out data reporting, compliance, investigations, audit and fraud prevention work necessary to run the Scheme; and
– compile management and statistical information about the performance of the Scheme.
c) HM Treasury and/or the Administrator, or one or more contractors will use the information for the purposes above.
When opening a Help to Buy: ISA and
starting to save you:
• Must want to save £1+.
• Can pay in up to the Government’s maximum amount to start saving. This
is the ‘initial deposit’, and you must pay it (or tell us you want to transfer in
other ISA savings) within 21 days of opening your account. [Remember, if you
want to transfer money you’ve saved in another ISA, this amount (plus any
interest) must not be more than the initial deposit limit.]
• Must be an Eligible Customer. Amongst other things this means you must
not be a Registered Property Owner and must not have previously received a
Help to Buy: ISA bonus unless it has been repaid in full, for example because
your house purchase fell through.
• Use one of our branches, go online or call us.
• Must agree to be bound by the Scheme Rules.
To save each month you: • Can pay in up to the Government’s maximum amount. This is the
‘monthly deposit’.
• Must pay your monthly deposit by one standing order, which we must
receive on or before 25th of the month. You can pay in a ‘monthly deposit’ in
the month you open your Help to Buy: ISA as well as your initial deposit.
• Can change the amount of your monthly deposit, and you do not have to
pay in every month.
• If you transfer your Help to Buy: ISA to or from another ISA provider, you can
choose to pay your monthly deposit either into your existing Help to Buy:
ISA before transfer or your new Help to Buy: ISA after transfer, but not both.
Please remember that your monthly deposit to your Halifax Help to Buy: ISA
must be made by standing order received on or before 25th of the month.
Our interest on Help to Buy: ISA: • Is variable – it can change while you have your account. For the rate see our
’Savings rates’ leaflet, or our website.
• Is paid each year on the anniversary of account opening (or if your account
anniversary is not a working day, the working day immediately after).
• Is paid into your account. You can ask us to pay it to a different account
either with us or another bank or building society. But if we do so it won’t be
tax free afterwards – you can’t earn tax-free interest on that interest.
29
Operating your account: • We’ll provide you with a statement at least once a year.
• Use one of our branches with a counter, go online or call us. If you want to
close your account you must use one of our branches with a counter.
• If you make a withdrawal, you may not be able to pay that money back in
again – you can only pay in up to the monthly deposit amount in any month.
This means it will take longer to achieve the maximum bonus you could
qualify for. You will also not be able to claim any Help to Buy: ISA bonus on
the amount you withdraw. This includes transferring savings from your Help
to Buy: ISA to another account you have e.g. a current account.
• Remember, you must close your Help to Buy: ISA to claim your bonus. If you
withdraw or transfer without closing the account in one of our branches with
a counter, you cannot claim any bonus on the amount taken out. You should
not withdraw or transfer savings you mean to use for the purchase of your
first home without understanding the effect on your bonus.
• Help to Buy: ISA is a flexible ISA. This means that if you withdraw all or part
of the money you paid into it earlier this tax year, you can pay the equivalent
amount into other permitted types of ISA, up to their individual limits,
before the end of this tax year as part of your annual ISA allowance.
Transferring a Help to Buy: ISA: • If you transfer the whole of your Help to Buy: ISA to another Help to Buy:
ISA, you can still save in the Government’s help to buy scheme.
• If you transfer the whole of your Help to Buy: ISA to an ISA that is not Help to
Buy: ISA, this will mean you have told us you want to close your Help to Buy:
ISA. We will tell the scheme administrator, and send you your Help to Buy: ISA
Closing Documents. Your Eligible Conveyancer can then claim your bonus.
• If you transfer all or part of your previous years Help to Buy: ISA savings to
an ISA that is not Help to Buy: ISA, but you keep your Help to Buy: ISA with
some savings in it, your Help to Buy: ISA will continue. However you will not
be able to claim any help to buy bonus for the savings you transfer.
• In the 2017/18 tax year, special rules apply if you want to transfer your Help to
Buy: ISA to a lifetime ISA. Please ask your lifetime ISA provider for details.
Help to Buy: ISA bonus: • Must only be claimed once your Help to Buy: ISA has been closed. Once this
has happened we will send you your Closing Documents and tell the scheme
administrator.
• Must be claimed from the scheme administrator by your Eligible
Conveyancer once you are ready to buy your first home. To be able to do
this, your conveyancer must be approved as an Eligible Conveyancer under
the Help to Buy: ISA scheme.
• By applying to open your Help to Buy: ISA you agree that we can disclose
relevant information about you and your Help to Buy: ISA savings to the scheme
administrator and HM Treasury so they can process your data in connection with
the Help to Buy: ISA scheme including processing any bonus claim you make.
• If you have both a Help to Buy: ISA: and a lifetime ISA you will only be able to use
the Government bonus from one of those accounts to buy your first home.
If your house purchase falls through: • If your Eligible Conveyancer claims a Help to Buy: ISA bonus but your
purchase does not go ahead, we may let you pay your Help to Buy: ISA
savings into a new Halifax Help to Buy: ISA, and we will need your Purchase
Failure Notice from your Eligible Conveyancer. You must do this within 12
months of closing your Help to Buy: ISA. Please ask at one of our branches
with a counter. Your new account may not have the same sort code, account
number or conditions but we will let you have all this information at the time.
Keeping you informed: • We will send you a statement each year following the anniversary of opening
your Help to Buy: ISA. We will also send you annual information reminding
you of the qualifying conditions for Help to Buy: ISAs and the Help to Buy:
ISA bonus.
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In the following sections we set out the general conditions for your Savings account.
Section C – Checks,
account security
and keeping you informed
We need to make sure that only you can access your
accounts. This section explains what you and we both need
to do to protect your information and accounts. It also
covers the information we will give you about your account.
Meaning of words we’ve used
device Anything such as a card, smartphone
or another device that you can use on
its own or in combination with your
security details to access your account
or give instructions.
security
details
Details or security procedures you must
follow or use to make an instruction,
confirm your identity or access a device
(for example a password, security code
(or PIN) or biometric data such as a
fingerprint).
1. How do we know we are dealing with you?
1.1 We will assume we are dealing with you and will provide
information about your accounts and services and act
on instructions (without further confirmation) if we
have checked your identity, for example in one of the
following ways or in any other way we may introduce:
Method of
instructing us
Check
In person in a branch Evidence of identity (such
as a passport) or use of a
device with security details
or your signature
In writing Your signature
Telephone, Online
or Mobile Banking or
using a device
Use of your security details
2. How do you and we keep your account secure?
2.1 We will do all we reasonably can to prevent
unauthorised access to your accounts and to make sure
they are secure.
2.2 You must:
• follow instructions we give you, which we reasonably
consider are needed to protect your accounts from
unauthorised access;
• not let anyone (even someone sharing a joint account
with you) use your device or security details;
• not let anyone give instructions or access information
on your accounts unless they have a separate
arrangement with us or you have authorised them to
operate your account for you;
• if there is a signature strip on a card we give you, sign
the card as soon as you receive it;
• not email us confidential information or instructions
(they must only be given through Online Banking);
• keep your device secure and protect it from
damage; and
• do all you reasonably can to prevent anyone else
finding out your security details.
HYou should:
• carry out regular virus checks on
devices you use for Online Banking or
mobile services.
You should not:
• tell anyone your security details;
• change or copy any software we provide,
or give it to anyone else;
• choose obvious passwords or codes (such
as your date of birth) as part of your
security details;
• write your security details on, or keep
them with, your device or any documents
for your savings account;
• write down your security details in a
recognisable way; or
• let anyone listen to your calls with us,
or watch you entering or using your
security details.
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2.3 You must tell us as soon as possible (see ‘How to
contact us’) if you:
a) think any device or security details have been lost,
stolen, damaged or are being misused; or
b) think someone can access your accounts without your
authority or has discovered your security details.
HIf your card details are stored on a device
(like a smartphone), you should tell us if you
lose your device.
2.4 If we, the police or other authorities are investigating
any misuse or alleged unauthorised use of your accounts,
you must provide information and help that we or they
ask for if the request is reasonable. We, the police or
other authorities would never ask you for your security
details. We may pass related information to other
banks or companies involved in payment processing,
or to the police or other authorities, in the UK or (if
appropriate) outside the UK.
2.5 You are responsible for checking statements, passbook
entries, text messages or other account information
we give you. We will correct any errors as soon as
reasonably possible after becoming aware of them.
3. How will you get statements and other information?
3.1 If your account has a passbook, it will contain a record
of the account. If you do not update your passbook (say
you make a number of automatic payments into your
account) we will send you a list of your transactions.
3.2 If statements are possible for your account, we will
normally provide one each month. We may not do
this if there are no payments out of the account or if
the account is a non-payment account but we will still
provide a statement at least once a year. Each statement
will set out all the payments into and out of your
account and give other information about them.
3.3 We will provide statements by paper unless you have
registered for Online Banking.
3.4 If you have registered for Online Banking, we will
either send you paper statements or we may provide
statements electronically. If we provide electronic
statements, we may also send you paper statements,
but we may choose to do so less often. For example if
we provide electronic statements monthly, we may send
paper statements annually.
3.5 If you prefer, you can ask us:
• for information about payments at any time; and
• if you get monthly paper statements less frequently
than monthly.
3.6 You can do this, or order a paper statement, at any
branch or through Telephone Banking. If we have already
provided a paper statement, we will charge you for a
duplicate.
3.7 If we send you statements, we may put messages on
or with your statements to tell you about changes to
this agreement or to other agreements or services you
have with us.
Section D – Making and
receiving payments
In this section we explain how you can ask us to make
payments from your account, how soon you can use money
paid in and when we pay interest. You can also use a third
party provider to make payments on certain accounts (you
can find out more about third party providers in Section I).
If you do use such a provider, those payments will be made
in the same way we set out in this section. We also explain
how to stop payments and what happens if something
goes wrong. Payments include withdrawals and transfers to
other accounts.
Meaning of words we’ve used
cut-off time The latest time we can process
instructions or add payments to
an account.
device Anything such as a card, smartphone
or another device that you can use on
its own or in combination with your
security details to access your account
or give instructions.
IDM Immediate Deposit Machine.
security
details
Details or security procedures you must
follow or use to make an instruction,
confirm your identity or access a device
(for example a password, security code
(or PIN) or biometric data, such as a
fingerprint).
Single Euro
Payments Area
(SEPA)
In Section N, we include a list of the
countries currently in SEPA.
working day Monday to Friday (except English
bank holidays). You can give some
instructions for payments on non-
working days, but we do not complete
their processing on our systems until
the next working day, except for card
withdrawals from a cash machine. This is
explained below.
The time periods below assume we receive a payment or
payment instruction before the cut-off time on a working
day. If it is received after the cut-off time or on a non-
working day, we will treat it as being received the next
working day, except cash paid in over the counter at a branch
with a counter on a non-working day which will show in the
account, and you can use it, on the day you pay it in.
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4. How can payments be made into your account?
4.1 Subject to any restrictions in the special conditions for your account, payments in sterling can be made into it by cheque,
direct transfer from another account and in cash; and by cheque or direct transfer from international accounts in other
currencies. Cut-off times for payments into your account depend on how the payment is made. The table below shows
our cut-off times for receiving payments by cash, cheque or direct transfer.
Method Cut-off time
Branch counter Branch closing time
IDM (if available) Branch closing time (or 2pm in Northern Ireland)
Express Pay-In (if available) One hour before branch closing time or, if the branch closes
at 5pm or later, 4pm
Post Office™ with a counter service As stated by the Post Office
Bank of Scotland Depositpoint™ (if available) One hour before branch closing time or, if the branch closes
at 5pm or later, 4pm
Halifax cash machine (that accepts payments in) End of the day
Electronic transfer from another bank account End of the day
The tables below show how we process these payments.
4.2 Paying in cash at Halifax or (in Scotland) Bank of Scotland
Method If paid in by the cut-off
time, does cash show in
your account that day?
Can you use cash the day it
is paid in?
From the day cash is paid
in, does it affect any
interest you get?
Branch counter
Yes
Yes – immediately after it
is counted.
Yes
IDM (if available)
Express Pay-In (or Bank of
Scotland Depositpoint™)
(if available)
Yes – soon after the
cut-off time when the cash
is counted.
Post Office with a
counter service*
No – the cash will show in your account, will be available for you to use and will affect any
interest you get from the day we receive it from the Post Office. Usually this will be the
next working day.
Halifax cash machines
(that accept payments in)
No – we will count the cash the next working day. From that day, it will show in your
account, you can use it and it will affect any interest you get.
* You can pay in cash at most Post Offices using a personalised paying-in slip. Please ask the Post Office you intend to use if it
offers this service and what their cut-off time is for accepting deposits.
Paying in coins – in any day we will usually limit you to 10 bags of coin, regardless of the number of accounts you have. You
cannot use one of our Counter-free branches to pay coins into your account.
Paying in cash through a Bank of Scotland Mobile Branch – in any day we will usually limit you to £5,000, of which no more
than 5 bags can be coin.
HIf you pay cash into a Halifax cash machine on Monday, you will be able to use it as soon as we have counted
it on Tuesday and you will earn any interest from Tuesday.
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4.3 Direct payments received from another bank account
Paying-in method Does the payment show in
your account on the day it
is received?
Can you use the money on
the day it is received?
From the day we receive
a payment, does it affect
any interest you get?
Transfers on a non-working
day between two personal
accounts (A) and (B) in your
name with Halifax
No – it will show in B on the
next working day.
Yes – immediately
available in B.
No – it will count for
interest in A until it is
shown in B.
Any other direct payment
(e.g. standing order,
direct transfer)
Yes Yes – immediately. Yes
4.4 Sterling cheques paid in at Halifax, Bank of Scotland and most Post Offices
Payments show in your account on the working day we receive the cheque.
The table below explains what happens while the cheque is being ‘cleared’ (collected from the other bank). We use one of two
clearing processes:
• The ‘2-4-6’ process;
• The ‘Cheque Imaging’ process (being introduced during 2018).
The ‘Cheque Imaging’ process will be introduced gradually, and if we are using the new process we’ll display a notice when you
pay in a cheque. If you need to be sure a cheque has been paid, you should pay it in over the counter, at a branch with a counter,
and ask for ‘special presentation’ of the cheque. There is a charge for this service.
Cheque clearing process When will the payment
affect any interest we pay?
When can you use the
payment?
When can the cheque be
returned unpaid?
‘2-4-6’
Cheques paid in over the
counter at a Halifax branch
with a counter, Express
Pay-In (if available), IDM (if
available), over the counter
at a Bank of Scotland branch
with a counter or Bank of
Scotland Depositpoint
(if available).
From the second working
day after we receive
the cheque.
From the fourth working
day after we receive
the cheque.
Up to the end of the sixth
working day after we
receive it (even if you have
already spent it). From that
time we cannot take money
from your account without
your consent if the cheque
is returned unpaid unless
you have been fraudulent.
‘Cheque Imaging’
Cheques paid in using the
‘Cheque Imaging’ process
By 11.59pm on the working
day after we receive
the cheque.
From 11.59pm on the
working day after we
receive the cheque, at
the latest.
Up to 11.59pm on the
working day after we
receive the cheque.
H‘2-4-6’ Clearing Process – if you pay a sterling cheque into your account over the counter at a Halifax branch
with a counter on a Monday, you will see it in your account the same day. It counts towards any interest
on Wednesday (2 working days), you can use the money on Friday (4 working days), and we cannot take the
payment out of your account after the following Tuesday (6 working days).
H‘Cheque Imaging’ Process – if you pay a sterling cheque into your account on a Monday, you’ll see it in your
account the same day. It counts towards any interest and you can use the money on Tuesday by 11.59pm at
the latest.
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You will need to add one extra working day to all of the
timings above when you pay in a cheque at:
• a Halifax cash machine; (that accepts cheque payments in);
• a Bank of Scotland Cashpoint®; (that accepts cheque
payments in) or;
• an Express Pay-In (if available) after the cut-off time.
If you pay in a cheque at a Post Office with a counter
service, the Post Office will send your cheque on to us. This
means you will usually need to add one extra working day to
all of the timings above.
You will need to add two extra working days to all of the
timings above when you pay in a cheque at a Post Office
with a counter service after its cut-off time.
You can pay in cheques at most Post Offices using a
personalised paying-in slip and a cheque deposit envelope.
Please ask the Post Office you intend to use if it offers this
service and what its cut-off time is for accepting deposits.
Important information
We may refuse a cheque for payment into your account
if it is more than six months old.
4.5 International payments into your account
If your account allows it and we receive a direct payment in
a foreign currency, we will convert it into sterling before we
pay it into your account. We will then treat it like any direct
payment. For some non-EEA currencies, we may be unable
to convert the payment into sterling on the day we receive
it. If so, we will convert it as soon as we are reasonably able
to and will add it to your account up to two working days
after we receive it. We’ll also ‘value date’ it on the day we
receive it.
What rates and charges apply to an international
payment into your account?
– You can find out our current standard exchange rate
for the payment by calling us (see ‘How to contact
us’). Please note that the rate may change by the time
we receive the payment.
– We may take our charges for dealing with an
international payment before we add it to your
account. If we do this, we will tell you the full amount
of the payment and the charges that applied.
4.6 International cheque payments
If you want to pay in a foreign currency cheque, or a sterling
cheque, where the paying bank is outside the UK, the
Channel Islands, the Isle of Man or Gibraltar, you must sign
your name on the back of the cheque. We may not be able
to accept cheques in all foreign currencies. We generally try
to ‘negotiate’ a cheque but if we can’t, or if you ask, we can
‘collect’ it.
Negotiating or collecting a cheque – what’s the
difference?
If we negotiate the cheque, we will buy it from you by
paying you the amount of the cheque or the sterling
equivalent on the working day after we receive it using
our standard exchange rate for the payment.
If we collect the cheque, we send it on your behalf to
the paying bank. We may use an agent to do this. We will
pay the amount of the cheque or the sterling equivalent
using our standard exchange rate for the payment into
your account on the day we get payment from the
paying bank. The time this takes will vary depending on
the paying bank or its country. You can ask us for details.
Any foreign currency cheque will only affect any interest
we pay from the working day that the funds are credited
to your account.
If the foreign bank later returns the cheque or asks for the
money to be returned, we will take the currency or the
sterling equivalent from your account. If we converted the
cheque to sterling, we will change it back into the foreign
currency using our standard exchange rate for the payment.
We will do this even if you have already spent the money.
This normally means we take more from your account than
we originally paid in. The exchange rate for the foreign
currency may also have worsened between our paying the
money in and taking it out.
Additional information about foreign cheques
– We take charges for dealing with foreign cheques
and pass on to you any charges by the foreign bank,
including any charges resulting from the foreign bank
returning the cheque unpaid or asking for the money
to be returned. We take these charges from the
account you told us to pay the cheque into.
– Occasionally we cannot get payment of foreign
cheques because of local foreign-exchange or other
restrictions.
– If we have any costs or other obligations as a result of
negotiating or collecting a foreign cheque, you must
reimburse us and take any other steps needed to put
us in the position we would have been in had we not
tried to negotiate or collect the cheque.
4.7 General terms about payments
If we are told, for example by another bank, that money
has been paid into your account by mistake, we can take
an amount up to the mistaken payment amount from your
account. We do not have to ask you to agree to this, but will
let you know if it happens. We will act reasonably and try to
minimise any inconvenience to you.
If we become aware that a payment into your account was
made by mistake or fraud within two months of receiving
the payment, we will:
– make sure the amount of the payment is not available
to you to use (we might do this by taking the amount
out of your account or by limiting access to the amount
in the account); and
35
– tell you we will return the payment to the paying
bank unless you tell us within 15 working days that the
payment was not made by mistake or fraud.
If you do not respond within 15 working days we will return
the amount to the paying bank.
If we become aware that a payment into your account was
made by mistake or fraud more than two months after
receipt of the payment, we will normally contact you before
restricting your use of the amount in the account.
If we cannot return the funds to the payer, we may give
information about you and your account to the payer’s bank
so that they can recover the money.
We may refuse to accept a payment into an account or
make a payment from it if we reasonably believe that
doing so may:
a) cause us (or another company in the Lloyds Banking
Group) to breach a legal requirement; or
b) expose us (or another company in the Lloyds Banking
Group) to action from any government or regulator.
5. How can you take cash or make payments out of
your account?
5.1 Making a payment
If you want to make a payment or withdraw cash, we will
check we are dealing with you as set out in Section C.
• For certain accounts, the types of payment and the way
you can make them may be limited. The special conditions
tell you the payment services available on your account.
If we receive a payment instruction after the cut-off time
on a working day, we will act on it on the next working day.
The cut-off time for making payments depends on how and
where a payment is to be made, but for a payment in sterling
within the UK is not usually before 2.30pm (UK time). You can
ask us for details, and we have some extra information about
cut-off times for particular payments in Section N.
If you ask us to make a payment on a future date, we will
make the payment on that date, unless it is a non-working
day, in which case we will make the payment on the
following working day.
What happens if you don’t have enough
available funds?
If you ask us to make a standing order or future-dated
payment (if available on your account) and don’t have
enough available funds to make the payment on the
due date, we’ll try again to make the payment later that
day. If there are still not enough available funds, we’ll
make a final try on the next working day before rejecting
the payment.
If you want to make any other type of payment (that is
available on your savings account) but don’t have enough
available funds in your account to cover it at the start of
the day, you have until 2.30pm that day to pay money
in to make sure the payment goes. If you still don’t have
enough available funds after 2.30pm, we won’t make the
payment. We won’t charge you for this and we’ll tell you
that we’ve rejected the payment.
5.2 Payment details
For us to make a payment for you within the UK, we
normally need the sort code and account number or card
number and any other details we ask for. For some payments
we may ask for different details; for example, we will ask you
for a mobile telephone number if the Pay a Contact service
is available on your account and you choose to use it.
To make an international payment we will also need the
recipient’s full name and address, their bank’s name and
address, and the following details:
• For international payments in euro to a bank account in
a SEPA country – the international bank account number
(IBAN) of the recipient’s account. Sometimes we will also
need the business identifier code (BIC).
• For international payments in a currency other than euro
to a bank account in a SEPA country – the international
bank account number (IBAN) and the business identifier
code (BIC) of the recipient’s account.
• For any other international payment – the recipient’s
account number, and other information we need for the
particular payment; for example, if there are individual
requirements in the country you wish to send money to.
You must check that the details are correct before asking us
to make a payment.
5.3 When can we stop you making payments?
We can stop or suspend your ability to make payments using
any device or security details if we reasonably consider it
necessary because of:
• security – including if you tell us you have lost your device;
• suspected unauthorised or fraudulent use of a device or
your security details; or
• a significantly increased risk that you may be unable to pay
any money you owe us on the relevant account.
If we do this, we will act in a reasonably appropriate way
and will try to reduce your inconvenience. Unless the law
prevents us doing so or we reasonably believe it would
undermine our security measures, we will try to contact
you in advance to tell you we are doing this and why.
If we cannot tell you in advance, we will tell you as soon as
possible afterwards.
If we stop a card or other device, you must not use it, and
we can take it back if you try to use it, for example in a
cash machine.
5.4 When can we refuse to act on an instruction?
We can refuse to make a payment or allow a cash
withdrawal if:
• our internal security controls require you to produce
additional identification or prevent us carrying out
the transaction (for example, if it is for more than the
maximum amount we set at any time) – we will let you
know if we are stopping a payment for this reason;
• the payment seems unusual compared with the way
you normally use your account, in which case we may
investigate further, for example by calling you;
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• you do not have available funds to make the payment
or you have exceeded a limit we have applied to your
account or device – such as the daily limit for withdrawals
from cash machines;
• the payment instruction is not clear or does not contain
all the required details;
• the account you want to pay is not included in the Faster
Payments scheme – you can check this with us in advance;
• there is a regulatory requirement that tells us to;
• we reasonably believe that you or someone else has used,
is using or obtaining, or may use or obtain a service or
money illegally or fraudulently;
• we reasonably believe that someone else may have rights
over money in your account (in this case we can also ask –
or require you to ask – a court what to do, or do anything
else we reasonably need to do to protect us); or
• any other reason set out separately in this
agreement applies.
5.5 What happens if we refuse to act on an instruction?
Unless the law prevents us, we will try to contact you to tell
you we are refusing, or are unable, to act. We will do this as
soon as we can and before the time any payment should
have reached the bank or building society you are sending it
to. If you are using a card to withdraw cash, the organisation
that owns the cash machine will tell you the payment has
been refused. If you want to check whether a transaction has
been accepted, you can call us (see ‘How to contact us’).
Additional information about failed payments
– You can contact us to find out (unless the law
prevents us telling you) why we have refused to act
on your payment instruction and how you can correct
any factual errors that led to our refusal.
– We are not liable if another organisation (or its cash
machine) does not accept your card or card number.
5.6 Making direct debits
A few of our accounts that have been open for a long time
may allow direct debits or similar payments. If we do allow
them, the payment will be collected from your account on
the date specified in any direct debit instruction you have
given the business or other organisation in the UK. If the
payment date or amount of money to be collected changes,
then unless you agree otherwise, the business or other
organisation you are paying will normally tell you at least
10 working days before.
5.7 Using your card to withdraw cash
If you use your card to withdraw cash, we will take the funds
from your account after we receive confirmed details of the
withdrawal. This may be on a working or a non-working day.
If you can use your card abroad to withdraw cash in a
currency other than sterling, we will convert it to sterling
on the day the relevant payment scheme processes it. The
exchange rate we use is set by the payment scheme. We also
apply charges to these transactions. You can find our charges
in Section O. You can find out the current exchange rate by
calling us (see ‘How to contact us’).
Withdrawing cash in a currency other than
sterling, or withdrawing sterling outside the UK,
(at a cash machine)
If you use your card to withdraw cash in a currency other
than sterling, or to withdraw cash in sterling outside
the UK, the amount is converted to sterling on the day
it is processed by Visa using the Visa Payment Scheme
Exchange Rate. Please see Section O for more detail.
We may replace your card with a different type of card
available under this agreement, perhaps for technical reasons
or if there are changes to the CHIP and PIN function. We
will tell you about the features of the card when we send
you the replacement card. If the change would alter the
terms of this agreement, we will give you notice as set out
in Section G.
5.8 Can you cancel or change a payment?
You cannot change or cancel a payment that you have
instructed us to make immediately (including a cash
withdrawal using your card) but you can cancel a direct debit,
standing order, and any other payment you asked us to make
on a future date. To do this, you must tell us by the end of
the last working day before the payment is due to be made.
If you wish to cancel or change a direct debit, you should
also tell the business or organisation you’re making the
payment to, so they can cancel or change it as well.
If we have made an international payment for you, we can
only recall it (or any part of it) if the recipient bank agrees.
If you ask us to cancel a payment instruction we may charge
you our reasonable costs for trying to cancel it, whether
or not we succeed. We will tell you the amount of our
charges for this at the time you ask to cancel, but this will
never be higher than our reasonable costs. In addition, if an
international payment is returned to your account, we will
change it back into sterling using our standard exchange rate
for the payment. That exchange rate may be different from
the exchange rate applied to the original payment and so the
amount paid back into your account may be less than that
originally taken.
If a banking industry payment scheme such as the Current
Account Switch Service tells us that a person you have asked
us to pay has switched their account to another bank, we
will update your instruction with the new account details.
This will mean your payment reaches the correct account
within the agreed timescales as set out in this booklet.
5.9 Banker’s drafts
If you can operate your account in our branches, we may
allow you to carry out a withdrawal from your account by
banker’s draft. You will need to use one of our branches with
a counter to do this. We may refuse to provide a draft if the
withdrawal is below a certain amount.
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Section E – How long will your payment take?
If your account allows you to make payments, this section tells you how quickly we will send payments to the payee’s bank.
Please refer to your account’s special conditions to see what payments you can make.
Meaning of words we’ve used
EEA The European Economic Area, which means the countries in the European Union plus Iceland, Norway
and Liechtenstein.
6. Payments within the EEA in EEA currencies
UK payments (except card and cheque)
Type of payment How long will the payment take to reach the payee’s bank after
we take it from your account?
Immediate payment Normally no more than two hours after we take the payment from
your account. It may arrive on the next working day if the account
you are sending it to cannot accept Faster Payments.
Please check with us if the bank or building society you want to send
the payment to can accept Faster Payments. You can ask in any of
our branches or using our contact details at the front of this booklet.
Future-dated payment or standing order to
another UK bank account
Normally no more than two hours after we take the payment
from your account on the day we send it. It may arrive on the next
working day if the account you are sending it to cannot accept Faster
Payments. Standing orders and future-dated payments can be made on
working days only.
International payments
Payments in euro to another EEA country, Monaco,
Switzerland or San Marino
No later than the next working day.
Payments in other EEA currencies/Swiss francs to
another EEA country
No later than four working days.
The payee’s bank must pay the funds into the payee’s account on the day it receives the payment from us.
Payments outside the EEA or in non-EEA currencies
You can ask us for details about how long the payment should take to arrive. We cannot control exactly when it will be
received by the foreign bank. This will depend on the banking practice of that country but should be no longer than 14
working days. There is more on timescales in Section N.
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7. Additional Information about international payments
• If you ask us to make a payment in a foreign currency,
we will use our standard exchange rate for that
payment at the time we make it unless we agree a
different rate with you when you ask us to make the
payment. Our exchange rates may depend on the
amount of the payment, and how we process it, for
example whether you chose to pay all charges or
whether they are shared. You can find out the current
exchange rates by calling us – see ‘How to contact us’.
• If you make a sterling payment, we cannot control the
exchange rate applied by the foreign bank.
• When you ask us to make an international payment,
we will tell you about any charges that may apply.
• We have to send an international payment through
the banking system in the foreign country and we
may need to appoint an agent in that country to do
it for us.
• If we necessarily incur any costs or other obligations
when acting for you in making an international
payment, you must reimburse us and take any other
steps needed to put us in the position we would have
been in had we not acted for you.
Section F – How we
calculate interest
and account charges
As long as you have enough money in your account, we will
pay you interest on amounts we hold for you. We also have
charges for some account services.
8. Where can you find information about our interest
rates and account charges?
Our interest rate leaflets and flyers contain our usual interest
rates for our savings accounts. We will have given you your
interest rate when you opened your account, but if you
would like to check your current rate please ask in branch or
telephone us (see ‘How to contact us’). Our charges for most
regular services are in Section O of this booklet.
You can also see our interest rates online at
www.halifax.co.uk/savings-rates
From time to time, we may offer special interest rates to
some customers. You can find more details in our ‘Savings
rates’ leaflet, by contacting us or through our website (see
‘How to contact us’).
9. How do we work out how much interest to pay?
9.1 Unless we have told you otherwise, we calculate any
interest we pay on a daily basis, based on the daily
balance of your account.
9.2 The special or additional conditions will tell you when
we pay interest on your account. They will also say
whether we pay interest into the account and whether
we can pay it to another account. We will calculate any
interest on amounts credited to your account as they
become part of the account balance. This will depend on
when and how the relevant payment is made into your
account – see Section D.
If we are due to pay interest on a non-working day, we
will pay it up to and on the next working day unless the
special or additional conditions for your account state
otherwise. We pay interest at the end of a working day.
So you may not be able to withdraw the interest until
the following day. You may not see it as part of your
account balance online until shortly after midnight.
9.3 If you make a withdrawal from your account, we pay
interest on the amount of the withdrawal up to and
including the day before it leaves your account, unless
you make the withdrawal on a non-working day. If so,
we continue to pay interest up to and including the day
before the working day after your withdrawal.
H
If you make a withdrawal on a Saturday, we
will pay interest on the amount withdrawn
on the Saturday and the Sunday, but
not the Monday (unless the Monday is a
bank holiday).
9.4 If we pay interest on your account, we will pay it ‘gross’.
You will be responsible for paying any tax you owe
directly to HM Revenue & Customs.
9.5 We may take any charges you owe us from the same
account. We will tell you the amount and when the
amount will be taken from your account when you ask
to use the service.
9.6 You must not allow your account to go overdrawn. If
your account does go overdrawn, this does not mean
we have allowed you to have an overdraft. You must
immediately pay us back the amount you are overdrawn.
Section G – How and when
we can make changes to
this agreement
As this agreement could last a long time, we will need to
change its terms occasionally. We can foresee some of the
reasons why it would be fair for us to do this, and have listed
them below, but we may in the future also want to make
changes for other reasons. We will tell you about these
changes, and how they will affect you, in advance. You may
be able to close an affected account or end your relationship
with us if you do not want to accept any change we tell
you about.
This section refers to two types of account: ‘payment
accounts’ and ‘non-payment accounts’. The account’s special
conditions tell you which type you have.
39
10. What can we change?
10.1 We can change the general or additional conditions that
apply to a particular account, benefit or service.
HWe may change any of the terms in this
booklet, and the interest rates and charges
that apply to an account.
10.2 We cannot change terms that we tell you are fixed, such
as interest rates that are fixed for a set period.
11. Why can we make a change?
Meaning of words we’ve used
reference
interest rate
An interest rate that is publicly available
and linked to a rate we do not set – like
the Bank of England bank rate (also
sometimes called the Bank of England
base rate).
regulatory
requirement
Any law, regulation, code or industry
guidance that applies to us including a
requirement of a court, ombudsman or
similar body or an undertaking given to
a regulator.
11.1 We can make a change for a reason set out below. If we
do, the change will be a reasonable and proportionate
response to a change that is affecting us or that we
reasonably think will affect us.
Reason For example
A change in regulatory
requirements.
We may have to update
our security terms because
new legislation introduces
tighter standards.
To do something
positive for you.
Our payment terms may
have to change because
new technology enables you
to make payments more
quickly or conveniently.
A change in the cost of
running our accounts,
including changes in our
funding costs.
Changes to the Bank of
England bank rate that
increase or decrease the
amount we charge our
borrowers may affect
the interest rates we pay
our savers.
Any other change that
affects us, if it is fair to
pass on its impact to you.
We may introduce new
measures to combat
fraud or make changes to
reflect developments in
digital banking.
11.2 We may also make changes for any other reason we
cannot foresee.
HWe may need to respond to changes in
the banking sector caused by increased
competition that affect how we provide our
services and what we charge for them.
11.3 If the interest rate on your account is a ‘tracker’ rate, the
rate will change automatically in line with the reference
interest rate it is linked to. The special conditions will say
how soon the tracker rate will change after a change in
reference interest rate.
11.4 We can change our standard exchange rates at any time.
12. How and when will we tell you about changes and
what are your rights?
Meaning of words we’ve used
managed rate A rate that we set, and can change, and
that isn’t a reference interest rate.
material
change
Changes to a managed rate where the
balance of your account is £100 or more.
non-
payment
account
A cash ISA, fixed-rate bond or other
savings account that provides only a
limited ability to make payments. The
special conditions for an account will
tell you if it is a non-payment account.
payment
account
A savings account that is not a
non-payment account.
published
notice
A notice we put in our branches, on
our website and, sometimes, in national
newspapers.
personal
notice
A notice we give you individually, for
example by letter, electronically or in
statement messages or inserts.
40
12.1 In the tables below, we explain how we give notice to change terms on particular accounts.
12.2 Non-payment accounts
Type of change Notice Timing of notice before or
after the change
Can you close or switch the
account without charge?
Interest rate increase
Personal or published As soon as possible,
normally within 3 days
Yes, unless the special
conditions say you cannot.
Interest rate decrease
that is not material (not
tracker rates)
Changes to other terms
that favour you or
are neutral
Personal or published No more than 30 days after
Material changes to
interest rates (not
tracker rates) that
disadvantage you
Personal At least 14 days before Yes, within 30 days of
the notice.
All other changes that
disadvantage you
Personal At least 2 months before Yes, at any time before
the change.
12.3 Payment accounts
Type of change Notice Timing of notice before or
after the change
Can you close or switch your
account without charge?
Interest rate increase Personal or published No more than 30 days after Yes, unless the special
conditions say you cannot.
All other changes Personal At least 2 months before Yes, at any time before
the change.
13. What are your rights if you want to close or switch an account in response to notice of a change?
For a change where we have to give you advance notice, you can tell us you do not want to accept the change using the
contact details at the start of this booklet. We will take this as notice that you wish to end the agreement or close or switch
your account immediately. If there is normally a charge for closing or switching your account, it will not apply. If we do not
hear from you, we will regard you as accepting the change on the date it comes into force.
41
Section H – How we
manage joint accounts
If two or more of you are joint account holders, you can
each give us instructions on your own. This section explains
how we treat you and what happens if the arrangement
between you comes to an end.
Some customers with joint accounts opened before 13th
June 2010 have agreed different arrangements with us. Some
of our accounts cannot be held jointly.
14. What do joint account holders need to know?
14.1 We will make payments, allow withdrawals, give
information (including about your account) or do
anything else if we are asked to do so by any one of
you, subject to condition 15.2 below. We can also rely on
information given by any one of you about the other(s).
This will not apply if we agreed before 13th June 2010 to
accept only the instructions of both, all, or a set number
of you for any transactions on your account.
Examples of things any joint account holder can do
without the knowledge of the other(s)
• Take all the money in an account.
• Close an account.
• End a service.
• Ask for electronic statements and correspondence
(instead of paper).
• Apply for cards and other services.
• Replace an account or service with another account or
service covered by these general conditions.
If you have a joint account and you tell us you only want
us to accept instructions from both, all or a set number of
you, then both or all of you must contact us. We may then
close your account and, if we choose, offer each person the
opportunity to open a new account in just their own name.
Examples of things we can do for one account holder
that count as if we did them for the other(s)
• Provide any information about your account, but if
you are receiving statements at only one address you
can ask us to send you separate account statements if
the account holders live at different addresses.
• Record and act on information that any of you gives
us about another of you.
• Send a notice to just one of you.
14.2 You are each, separately, responsible for complying with
the terms of this agreement. If any one of you does not
comply, we can take action against any or all of you.
14.3 If any money is overdue for payment on any account
one of you has with us, whether in your sole name or
in joint names, we may take the money you owe us out
of your account under Section K. If we think it would
be fairer to you, rather than taking the money owed
immediately, we may keep enough of any money owed
and take this when you ask us to withdraw it during a
fixed or special-offer term or at the end of the fixed or
special-offer term. We can do this without giving you
notice. We will not take the money from an account
which, according to our records, you are holding on
behalf of someone else (e.g. as trustee or executor).
15. What happens when the arrangement between joint
account holders changes or ends for any reason?
15.1 When this agreement ends (or your account is closed),
we may pay or transfer money we hold for you under
this agreement (or in the account) to any one of you.
This will not apply if we agreed before 13th June 2010 to
accept only the instructions of both, all, or a set number
of you for any transactions on your account.
15.2 If you want to change the joint account holders (by
taking off or adding another person) or authorise
someone else to operate the account, you must all apply
and agree to this.
15.3 If we become aware of a dispute between you, we may
take steps to prevent any of you giving instructions or
using the account individually until the dispute is ended.
If there is a dispute and you only want us to accept
instructions from both or all of you (and not just one of
you), then both (if two account holders) or all (if more
than two account holders) of you must first return to us
your cards and any other items we have provided. We
may then close your account and, if we choose, offer
each person the opportunity to open a new account in
just their own name.
15.4 If one of you dies, we may continue to act on the
instructions of the remaining account holder(s) but
we do not have to do so. Acting on their instructions
includes allowing them to withdraw any or all money
from the account(s) and giving us instructions about any
services associated with the accounts.
42
Section I – Can someone
else operate your account?
16. How can someone else operate your account?
16.1 If you want or need someone else to operate your
account, you must generally either sign a form we give
you or grant a power of attorney to someone, which
authorises them to operate your account.
16.2 In certain circumstances, the law may require us to allow
someone else to operate your account – for example, if
you are no longer able to manage your money, if you go
bankrupt or die.
16.3 For security reasons, we may not allow another person
access to all of the services we provide to you. If we
do allow them to use a service, you can tell them your
security details as long as they agree to keep them safe.
16.4 We are not responsible for an act (or failure to act)
by someone else allowed to operate your account as
long as we did not know or suspect they were acting
dishonestly towards you.
17. Third party providers
Meaning of words we’ve used
third
party provider
A service provider authorised by law to
access information or make payments
for you from your payment accounts.
17.1 You can instruct a third party provider to access
information on your accounts or make payments from
your accounts online as long as it is open and transparent
about its identity and acts in line with the relevant
regulatory requirements. We will treat any instruction
from a third party provider as if it were from you.
17.2 We may refuse to allow a third party provider to access
your account if we are concerned about unauthorised or
fraudulent access by that third party provider. Before we
do this we will tell you and explain our reasons for doing
so, unless it is not reasonably practicable, in which case
we will tell you immediately afterwards. In either case,
we will tell you in the way we consider most appropriate
in the circumstances. But we won’t tell you if doing so
will compromise our reasonable security measures or
otherwise be unlawful.
We may make available to a third party provider a
specific means of accessing your account. If we do, and
it tries to access your account by a different way, we
may refuse to allow that access.
17.3 If you think a payment may have been made incorrectly
or is unauthorised, you must tell us as soon as possible
even where you use a third party provider.
Section J – Who is
responsible for any loss?
It is important for you to understand what you and we
take responsibility for and when you may be liable under
this agreement. This section also applies to any payments
you make through a third party provider.
Meaning of words we’ve used
device Anything such as a card, smartphone
or another device that you can use on
its own or in combination with your
security details to access your account
or give instructions.
security
details
Details or security procedures you must
follow or use to make an instruction,
confirm your identity or access a device
(for example a password, security code (or
PIN) or biometric data such as a fingerprint).
the EEA The European Economic Area, which
means the countries in the European
Union plus Iceland, Norway and
Liechtenstein.
18. Incorrect payments
18.1 When will we refund incorrect payments?
We will refund the amount of a payment and any
charges you paid as a result of it, and pay you any
interest we would have paid you on that amount, if:
• you asked us to make the payment to an account
at another bank in the EEA and the payment was
not made properly or never arrived, unless there
was a mistake in any of the details in the payment
instruction or we can show that the payment was
received by the other person’s bank. We will provide
the refund without undue delay; or
• the payment was unauthorised (see ‘Unauthorised
payments’ overleaf). We will provide the refund as
soon as we can and in any event by the end of the
next working day.
43
Additional information about payment refunds
Except for direct debits, we will not refund the payment
if you tell us more than 13 months after it was made
that the payment was not made properly or was
unauthorised.
If a payment goes to the wrong person or is delayed
because you gave us the wrong details, we will not be
liable but we will try to recover the payment for you.
We may charge our reasonable costs for doing so.
If a payment is delayed due to our error you can ask us
to ensure that the receiving bank credits the payment to
the payee’s account as if it had been made on time.
18.2 Are there any special rules about refunds for direct
debit payments?
If your account allows you to make direct debits and you
think there has been an incorrect direct debit payment,
you should tell us immediately so that we can arrange a
full and immediate refund – even if the original error was
made by the business or organisation that set it up.
18.3 You should tell the business or organisation what you
have done and why. If they still think that you need to
pay them, you will need to resolve the dispute with
them directly. This does not affect your right to a refund
as set out above.
19. Unauthorised payments
You are not liable for any payments or withdrawals from
your account that you do not authorise. If you are not liable
for a payment, we will refund or pay the amount of the
payment and interest you lost as a result of the payment. We
will not have any further liability. There are two exceptions
to this rule:
1) If we can prove you acted fraudulently, you will be
liable for all payments from the account that we
could not stop.
2) If we can prove you have been grossly negligent with
your device or security details, you will be liable
for payments from your account but only until you
have told us your device or security details have
been lost, stolen or could be misused. In some cases,
you will not be liable for a payment instruction you
did not give yourself. These include where we have
failed to tell you how to report that your device or
security details have been lost, stolen or could be
misused or where the unauthorised payment was
made by telephone or internet.
20. What happens if we break the terms of
this agreement?
20.1 We are responsible if you suffer loss because we have
broken this agreement. There are three exceptions to
this rule:
1) We are not liable for losses or costs caused by
abnormal and unforeseeable circumstances outside
our reasonable control, which would have been
unavoidable despite all efforts to the contrary.
These include delays or failures caused by industrial
action (e.g. strikes), problems with another system
or network, mechanical breakdown or data-
processing failures.
2) We are not liable for losses or costs where a
regulatory requirement means we must break this
agreement.
3) We are not liable for business losses or costs
you suffer (such as loss of business profits or
opportunities) as a result of anything we have
done, as we make this agreement with you as a
personal customer.
20.2 Nothing in this agreement limits our liability for acting
fraudulently or very carelessly or otherwise excludes or
limits our liability to the extent we are unable to exclude
or limit it by law.
44
Section K – Using money
between accounts
(‘set-off’)
Sometimes we can reduce or repay amounts you owe us by
using money we hold in other accounts for you, including
your Savings accounts.
Meaning of words we’ve used
regulatory
requirement
Any law, regulation, code or industry
guidance that applies to us including a
requirement of a court, ombudsman or
similar body or an undertaking given to
a regulator.
21. When can we use set-off?
21.1 If we are holding money in an account for you when
amounts you owe us are overdue for payment, we may
use the money in your account to reduce or repay the
amount you owe us. We will only do this if we think it
is reasonable, taking into account your circumstances
(including that you will still have enough money to meet
essential living expenses) and any regulatory requirements.
21.2 Amounts you owe us include amounts due
under a loan, credit card, mortgage, overdraft or
otherwise with us.
21.3 We can use our set-off right if you have accounts that
are only in your name as well as joint accounts you hold
with another person (X) as shown below:
Money in account for: Set-off against money
owed by:
You only You
You only You and X
You and X You and X
You and X X
You and X You
21.4 Even if there is a court decision against you or you are
fined, we can use money you have in your accounts to
pay something you owe us (including interest arising
after the date of the final decision or fine), unless
the court instructs us otherwise, or we are otherwise
prevented by law.
21.5 Occasionally we receive legal instructions or notices to
hold a customer’s money for someone else or to pay it
to someone else. If this happens, the money available
to the other person will be what is left after we add up
what we owe on the affected accounts and subtract
what our customer owes us, including any interest
arising after the legal instruction or notice, unless we
decide otherwise or we are prevented by law.
Section L – Ending this
agreement or an account
or service, or suspending
a service
22. Suspending an account or service
22.1 We may suspend an account or service if we think you
don’t want it any more because you have not used it for
12 months, or if you are no longer eligible for it. We will
give you two months’ notice in writing before doing so.
23. Ending this agreement or an account or service
23.1 This agreement continues until you or we cancel or
end it. The table below shows how this agreement (or
any account or service) can be ended. If we end it, we
will act in a manner we think is reasonably appropriate
for the circumstances and will try to reduce the
inconvenience to you.
45
By Reason Notice
You Any reason. None, unless the special or additional conditions
for your account require notice. You may have to
pay a charge if you close some accounts before the
end of a fixed term.
We may ask you to confirm in writing your request
to close your account.
Us If we reasonably consider that:
• there is illegal or fraudulent activity on or
connected to the account;
• you are or may be behaving improperly (for
example, in a threatening or abusive way);
• by continuing the agreement we (or another
company in the Lloyds Banking Group) may
be exposed to action from any Government,
regulator or other authority or may break a
regulatory requirement; or
• you have seriously or repeatedly broken this
agreement in any other way.
None.
You have not used an account for 15 years (or
other period specified by law) and we have lost
touch with you. In this case, we may transfer any
money in the account to the ‘reclaim fund’ (a body
set up to deal with unclaimed assets in dormant
accounts). We will try to contact you before
doing this.
For further details see Section N.
Any other reason. Two months (in writing).
23.2 When this agreement ends, any account covered by it will close and any service we provide under it will stop. You
must also:
a) repay any money you owe us (including any payments you have made that have not yet been taken out of
your account);
b) pay any charges up to the date the agreement, account or service ends;
c) return anything that belongs to us or that we have given you, such as any device; and
d) if your account allows them, cancel any direct payments (such as direct debits or standing orders) into or out of your
account. If someone sends a payment to your closed account, we will take reasonable steps to return the payment to
the sender.
23.3 If this agreement (or a service under it) ends, it will not affect any legal rights or obligations that may already have arisen
or any instructions already given.
23.4 When this agreement ends (or your account is closed) we will pay or transfer money we hold for you or owe you under
this agreement (or in the account) to you, or to any other person you name in writing. However, we may keep enough
money to cover anything you owe us or, if you have broken this agreement, any loss of ours that results.
23.5 In the event of your death, we may need to see a grant of probate, certificate of confirmation or grant of representation
before releasing money in your account to your personal representatives.
23.6 After this agreement ends, we will keep our right of set-off and any rights we have under general law. We may continue
to hold and use your personal data but only to the extent we need to do so as set out in our privacy statement. This is
available at www.halifax.co.uk/privacystatement as a leaflet in branch or by asking us.
46
Section M – Other
important terms
24. What happens if you do not meet the conditions we
set for an account type?
24.1 We may change an account you hold with us to a
different account if:
a) you stop being eligible for your existing account
in any way;
b) you are no longer resident in the United Kingdom; or
c) you make a complaint and we agree that the account
may not be suitable for you.
Before changing your account to a different account,
we will give you at least two months’ notice. We will
only change your account to one that we believe is a
reasonably suitable alternative.
25. Transferring rights and obligations
You may not transfer any obligations or rights, benefits
or interests under this agreement or in your accounts (or
income from them) or create any security over money in
your accounts in favour of someone else unless we say you
can in writing.
26. Not enforcing this agreement
We may not always strictly enforce our rights under this
agreement; for example, we may allow you to withdraw
funds when your account conditions do not allow this. If
we do this, it will be just a temporary measure and we may
enforce our rights strictly again.
27. How can you complain?
If you feel we have not met your expectations in any way,
please let us know so that we can tackle the problem as
quickly as possible. We have a three-step procedure to
resolve your concerns.
a. Step 1 – Tell us about the problem
Tell us about your complaint and how you think it could
be resolved by calling into any branch, calling us on
0800 072 9779 or 0113 366 0167 or textphone on
0800 389 1286 or 0113 366 0141 or contacting your
relationship manager or Business Manager, if you have one.
We will try to resolve your complaint by the end of the third
working day after you contact us. If we cannot do this, we
will write to you within five working days to tell you what
we have done to resolve the problem, or acknowledge
your complaint and let you know when to expect our full
response. We will also let you know the name and contact
details of the person or team dealing with your case.
b. Step 2 – Follow-up
To follow up your complaint with Customer Services,
you can ask the person you raised your complaint with to
refer the matter to them or write to Halifax, PO Box 761,
Leeds LS1 9JF.
c. Step 3 – Contact the Financial Ombudsman Service if
you aren’t satisfied
If you disagree with the decision we make, you can refer
the matter to the Financial Ombudsman Service free of
charge. The Financial Ombudsman Service provides a way of
resolving disputes if you’re unhappy with something we’ve
done. Details are available from us on request or you can get
further information at www.financial-ombudsman.org.uk
You may be able to submit a claim through the European
Online Dispute Resolution Platform (available at
http://ec.europa.eu/consumers/odr/) if you live outside
the United Kingdom or if you prefer not to deal directly with
the Financial Ombudsman Service.
28. Law applying to this agreement
28.1 Unless you are resident in Scotland when the conditions
in this agreement first apply to you, English law will
decide any legal questions about it, and about our
dealings with you with a view to entering into this
agreement. The courts of England and Wales will also
be able to deal with any legal questions connected with
this agreement.
28.2 If you are resident in Scotland when the conditions in
this agreement first apply to you, Scots law will decide
any legal questions about it, and about our dealings
with you with a view to entering into this agreement.
The Scottish courts will also be able to deal with any
legal questions connected with this agreement.
28.3 This agreement applies even if any term of it
contradicts or overlaps with any law that applies, unless
the law says we cannot agree with you to change or
exclude the effect of that law.
29. Transfer of interest
If you ask us to transfer your interest to an account at
another bank or building society, we can only do this if
that bank or building society has a UK bank sort code
and receives Faster Payments.
30. Transfers out of your account
If you take out money by phone or using our online
banking service, you’ll need to transfer the amount
you withdraw to another account, either with us or
with another bank or building society with a UK sort
code that receives Faster Payments. If you ask for this
transfer through our online banking service, then we can
only transfer to another account you hold, not to an
account held by another person.
47
31. Maturities
If your account matures on a working day (at the end of any
fixed term you chose or after 12 months if your account lasts
for 12 months):
• we’ll pay you interest up to and including that
working day; and
• your account will automatically change to the
relevant replacement account the following day. (If
your account was a fixed-term account that did not
allow withdrawals, this will also be the day on which
you can take out your money without charge.) If
that following day is not a working day, the change
will happen on the next working day and we will
continue to pay you interest at your existing rate up
to the day before your account changes.
For example, if your Fixed Saver matures on a Friday, it will
automatically change to an Instant Saver on the following
Monday (assuming it’s not a bank holiday), and you will
be able to take your money out without charge on that
Monday. We’ll pay you fixed-rate interest up to and including
the Sunday.
If your account matures on a non-working day (at the end of
any fixed term you chose or after 12 months if your account
lasts for 12 months):
• we’ll pay you interest up to and including the next
working day; and
• your account will automatically change to the
relevant replacement account the following day. (If
your account was a fixed-term account that did not
allow withdrawals, this will also be the day on which
you can take your money without charge.) If that
following day is not a working day, the change will
happen on the next working day and we’ll continue
to pay you interest at your existing rate up to the day
before your account changes.
For example, if your ISA Saver Variable matures on a
Saturday, it will automatically change to an Instant ISA Saver
on the following Tuesday (assuming it’s not a bank holiday),
and you will be able to take your money out without charge
on that Tuesday. We’ll pay you fixed-rate interest up to and
including the Monday.
Section N – Additional
important information
This section does not form part of the conditions for your
account but provides further important information that
you may need.
Who we are
• Our company details
– Halifax is a division of Bank of Scotland plc. Registered
in Scotland No. SC327000. Registered office: The
Mound, Edinburgh EH1 1YZ.
– To find out more about our company, see the Registrar’s
website, www.companieshouse.gov.uk or call the
Registrar on 0303 1234 500.
• Our VAT number is 244155576.
• We lend money and offer savings, insurance and other
financial services to our customers.
How we are regulated
• We are authorised by the Prudential Regulation Authority,
and regulated by the Financial Conduct Authority and
Prudential Regulation Authority under registration
number 169628.
• To find out more about us, see the Financial Services
Register: www.fca.org.uk or call the FCA on 0800 111 6768.
• We are regulated by the Office of Communications
(‘Ofcom’). If you have a complaint, particularly about our
text-messaging service, you may also be able to take it
to Ofcom at Riverside House, 2a Southwark Bridge Road,
London SE1 9HA, www.ofcom.org.uk Telephone
020 7981 3040, Fax 020 7981 3333 or Textphone
020 7981 3043.
Industry codes and memberships
• We are a member of the British Bankers’ Association.
Please see www.bba.org.uk to find out more.
• Eligible deposits with us are protected by the Financial
Services Compensation Scheme. We are covered by the
Financial Ombudsman Service.
• We follow advertising codes regulated by the Advertising
Standards Authority (‘ASA’). If you would like to find out
more about the advertising codes or the ASA, or complain
to them about any of our advertising, please see
www.asa.org.uk call the ASA on 020 7492 2222
(Textphone 020 7242 8159), email them at
enquiries@asa.org.uk Fax them on 020 7242 3696 or
write to the Advertising Standards Authority, Mid City
Place, 71 High Holborn, London WC1V 6QT.
48
Dormant balances
We participate in the unclaimed assets scheme established
under the Dormant Bank and Building Society Accounts
Act 2008, which enables money in dormant accounts (i.e.,
accounts that have been inactive for 15 years or more) to be
distributed for the benefit of the community while allowing
customers to reclaim their money.
Under the scheme, we may transfer balances of dormant
accounts to Reclaim Fund Ltd (RFL), a not-for-profit
reclaim fund authorised and regulated by the Financial
Conduct Authority.
If we transfer the balance of your account to RFL, you will
have the same rights against RFL to reclaim your balance
as you would have done against us. However, we remain
responsible for managing the relationship with you and for
handling all repayment claims on behalf of RFL. Therefore,
you should continue to contact us in the usual way if you
have any questions or complaints about dormant accounts
or balances.
Both we and RFL participate in the Financial Services
Compensation Scheme (FSCS). Any transfer by us to RFL of
your balance will not adversely affect any entitlement you
have to compensation from the FSCS.
Cancellation
We hope you’re happy with the savings account you’ve
chosen. However, if you’re not, you have 14 days from
opening the account (or, if you have opened your account
by phone, from the date you receive your conditions if that
is later) to cancel it without charge. Just give us your notice
in writing by sending it to Halifax, PO Box 548, Leeds LS1
1WU. If you have chosen an ISA account and cancel within 14
days, you’ll still be able to open another cash ISA in the same
tax year. If you cancel your cash ISA account after 14 days,
you will not be able to open an ISA in the same tax year.
This right to cancel does not apply to fixed-rate fixed-term
accounts other than our ISA Saver Fixed. Whenever you
cancel, we’ll repay any credit balance and pay interest on
your account for the time your money was with us. Even
if you miss the 14-day deadline, you may still close your
account in line with the account conditions.
CHAPS
The cut-off time for making CHAPS payments is 4.25pm.
International payments
Our International Payments service means you can make
an electronic payment from your Halifax Savings account
to another person outside the UK (whether in sterling or
another currency) or in a currency other than sterling to
another person in the UK. Depending on the amount you
wish to send, we may ask for additional ID before we can
accept your instructions for an international payment. You
can use this service through our branches with a counter
or Telephone Banking. There is a £5,000 limit for any
international payment made through Telephone Banking.
The cut-off time for making payments depends on how and
where a payment is to be made.
Your payment Cut-off time
International payment
in euro made through
one of our branches
with a counter or by
Telephone Banking
No earlier than 2pm and no
later than 3pm
International payment in a
currency other than euro
made through one of our
branches with a counter or
by Telephone Banking
3pm
Section E explains how long any payment should take to
arrive. Please bear in mind that countries outside the UK may
have different non-working days, and this could affect when
the person you have sent money to is able to draw it out.
As we explain in Section E, if you make a payment outside
the EEA or in a non-EEA currency, we cannot control how
long it will take to arrive. You can ask us for details when you
make your payment. However, as a guide, it should generally
take no longer than four working days for a payment in
one of our standard available currencies to reach North
America, Canada, South Africa, Australia, New Zealand and
countries in Europe and the Middle or Far East. A payment in
any currency to most other countries operating electronic
payment systems should take no longer than 14 working days.
The Single Euro Payments Area (SEPA) currently consists of
the countries of the EEA plus Aland Islands, Azores, Canary
Islands, French Guiana, Gibraltar, Guadeloupe, Guernsey,
Isle of Man, Jersey, Madeira, Martinique, Mayotte, Monaco,
Reunion, Saint Barthelemy, Saint Martin, Saint Pierre and
Miquelon, San Marino and Switzerland.
We will confirm the details of your international payment,
including the sterling equivalent of the payment, the charges
we apply and any breakdown of these, along with the
exchange rate we applied immediately before the payment
leaves your account. This information may also appear on
your account statement. If you make a transfer in one of our
branches with a counter, we’ll give you a receipt at the time.
If you use Telephone Banking, we’ll confirm all the detail to
you over the phone. Your receipt will show the exchange
rate used and the amounts involved. If you need a receipt in
writing after the payment has been processed, just contact us.
Tax
We will pay your interest gross. This means we won’t
automatically deduct tax from your interest. Depending on
your personal circumstances, you may need to pay tax on
the interest you earn and it will be your responsibility to pay
any tax you owe to HM Revenue & Customs (HMRC).
Tax-free is the contractual rate of interest that applies when
interest is exempt from income tax.
If a parent (including civil partner and step parent) gifts
money to their child and the interest from it is more than
49
£100 a year, then that interest counts towards the parent’s
personal savings allowance, and may be taxable depending
on the parent’s personal circumstances. This also applies if
the interest on the gift added to any interest we’ve already
paid makes a gross interest payment of over £100. This £100
threshold applies to each parent individually. All accounts a
parent holds for the child (whether or not they are held with
the same bank or building society) are taken into account.
The £100 rule does not apply to parental contributions to a
Junior ISA.
ISAs
Bank of Scotland is registered as an ISA manager with HM
Revenue & Customs. If it delegates any of its functions or
responsibilities under the ISA conditions, it will satisfy itself
that the person to whom the functions or responsibilities
are delegated are competent to carry out those functions
or responsibilities.
Withdrawals
We want to make sure that you, and only you, take money
from your account. So before you withdraw a large amount
at one of our branches, we’ll ask for proof of your identity
(ID). You can provide any of the following: DVLA driving
licence, passport or credit/debit card (another one from
Halifax, Bank of Scotland or from a different provider). Please
remember to bring your ID with you. In most cases this
will be enough to prove who you are and help keep your
money safe.
You can withdraw up to £2,500 a day per account in cash
from any of our branches with a counter, or £250,000 by
banker’s draft, subject to the account conditions. If you
need to withdraw more than these amounts, please tell
your branch in advance as special arrangements may need
to be made.
You cannot withdraw any amount of less than £500 from
your savings account by banker’s draft. You can only get a
banker’s draft from one of our branches with a counter.
You may not have more than five banker’s drafts in a day
from your account and any other savings accounts you
have with us.
Other information
• We will communicate with you in English.
• The Post Office® and Post Office logo are registered
trademarks of the Post Office Ltd.
• You can ask for a copy of this agreement or download it
from our website.
• For more information visit us at www.halifax.co.uk or go
to any Halifax branch.
• Cashpoint® is a registered trademark of Lloyds Bank plc
and used under licence by Bank of Scotland plc.
• Depositpoint™ is a trademark of Lloyds Bank plc and used
under licence by Bank of Scotland plc.
Kids’ Saver and Kids’ Monthly Saver
If your account was changed from a Kids’ Saver or a Kids’
Monthly Saver account at the child’s 16th birthday, you will
hold your new account as trustee for your child. You, as the
adult customer, will be the only one who should operate
it. As trustee you should continue to manage the account
for the child’s benefit, and be aware that the child can claim
the money from you in the future. Generally a trustee will
transfer money in a trust account to the child once he or she
is old enough.
Section O – Charges
Withdrawing cash in sterling in the UK
If you take money in sterling from your account using any
Halifax or Bank of Scotland cash machine in the UK, we
won’t charge you for the withdrawal. However, if you use
a cash machine that isn’t a Halifax or Bank of Scotland
cash machine, you may be charged by the machine owner.
If so, the machine will show you the amount and tell
you that it will be taken from your account when you
withdraw the cash.
Withdrawing cash in a currency other than sterling, or
withdrawing sterling outside the UK (at a cash machine
or over the counter)
If you use your Savings card to withdraw cash in a currency
other than sterling, or to withdraw cash in sterling outside
the UK, the amount is converted to sterling on the day it is
processed by Visa using the Visa Payment Scheme Exchange
Rate. We will charge you a non-sterling transaction fee of
2.99% of the amount of the transaction and a non-sterling
cash fee of £1.50 for each withdrawal. Where you elect to
allow the cash machine operator/financial service provider
to make the conversion to sterling for you, we will only
charge a foreign cash fee of £1.50 for each withdrawal. The
provider of the foreign currency may make a separate charge
for conversion.
Copy statements
If you ask for a copy of a statement that has previously
been issued to you, you may be charged a fee of £5 for
each request. You won’t be charged this fee if you have
a passbook or use Online Banking and are registered for
paper-free statements or if you haven’t previously been
sent the statement.
CHAPS fee
If you ask us to transfer money electronically from your
account to another UK account using the CHAPS system
we’ll charge you a fee of £25.
50
Charges for international payments
International payment
from your account
£9.50*
The Correspondent
Bank Fee
Zone 1 (USA, Canada and
Europe (non EEA)) £12
Zone 2 (Rest of the world) - £20
International drafts £20**
Electronic payments
received from outside
the UK other than by
SEPA Credit Transfer
Receiving a payment up to
and including £100 – £2
Receiving a payment of
over £100 – £7
Foreign currency
cheques paid into
your account
Sterling value of £100
or less – £5
Sterling value more than £100 –
0.25% of the total sterling
value to a maximum of £80.
Our minimum charge will be
between £8 and £15, depending
on whether we negotiate or
collect the cheque.
* You will share international payment charges with the
recipient when the payment is made:
• in any currency to a bank account in the EEA; or
• in any EEA currency to a bank account in Switzerland,
Monaco or San Marino.
Sharing the charges means you will pay our charge and the
recipient will pay their bank’s charges plus any agent bank
charges that may apply.
If you make any other international payment, you can
choose either:
a) to share charges; or
b) to pay both our charge and all agent bank charges.
If you choose option b), you will pay our charge and the
Correspondent Bank Fee that replaces all agent bank
charges. The recipient bank may charge its customer a fee
but we cannot provide information about such a fee.
** If you cancel an international draft, refund conversions
will be made using our standard exchange rate for the
transaction on the day we receive the money.
Charges for special services
1. Special presentation – if you pay a cheque into your
account over a branch counter you may ask us to specially
present a cheque for a fee of £10.
2. Foreign currency or travellers’ cheques – you may ask us
to use a number of special services relating to foreign
currency or travellers’ cheques. Ask at any of our branches
with a counter for details.
Do you need
extra help?
If you’d like this in Braille, large
print, audio CD or another
format please ask in branch.
If you have a hearing or speech
impairment you can contact us
using the Next Generation Text
(NGT) Service (available 24 hours
a day, 7 days a week). If you’re
Deaf and a BSL user, you can use
the SignVideo service available at
halifax.co.uk/accessibility/signvideo
Our promise
Our promise is to do our best to resolve any
problem you have immediately. Where we
can’t, we’ll ensure you know who is dealing
with your complaint. To complain:
• Visit a branch and speak to any member
of the team.
• Call us on 0800 072 9779 or 0113 366 0167.
(Textphone 0800 389 1286 or 0113 366 0141,
if you have a hearing impairment).
• Write to us at Halifax, PO Box 761,
Leeds LS1 9JF.
• Or visit halifax.co.uk/contactus/
how-to-complain
If you’re still not happy and we can’t put
things right to your satisfaction, you can ask
the Financial Ombudsman Service to look at
your complaint - provided you have tried to
resolve the matter directly with us first. We
hope you won’t need to contact the Financial
Ombudsman Service but if you do, we’ll tell
you how to do this.
Calls may be monitored or recorded in case
we need to check we have carried out your
instructions correctly and to help improve
our quality of service.
All the information is correct as at January 2018.
1/3360254-9 (01/18)
It’s easy to
get in touch
Come in and see us
0345 726 3646
halifax.co.uk/savings

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