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Halifax at 7% but is it safe?

  • 10-03-2009 4:20pm
    #1
    Saruman
    Registered Users, Registered Users 2 Posts: 11,389 ✭✭✭✭


    I heard recently about Halifax offering a 7% interest on a current account.
    link: http://www.halifax.ie/index.jsp?p=100&n=101

    My question for anyone in the know is simply: Is it safe to switch?
    I know there were some concerns in the UK and that they merged with lloyds i think.

    Its an excellent rate to be honest.


Comments

  • #2
    yogasiva
    Closed Accounts Posts: 8 ✭yogasiva


    I heard about Halifax but had the same opinion as you. I've recently opened an Anglo Irish account (7.3%) and a BOI (7%). Both variable rates.


  • #3
    RedPlanet
    Closed Accounts Posts: 1,691 ✭✭✭RedPlanet


    Looks like that 7% is only for amounts up to 2,000.
    I opened a Flexi Saver account recently with them at 5% but it looks like it's down to 3.5% now.


  • #4
    yogasiva
    Closed Accounts Posts: 8 ✭yogasiva


    The Anglo account is a 1 year term - saving a max of 1000/month
    BOI - save a maximum of 500/month


  • #5
    Saruman
    Registered Users, Registered Users 2 Posts: 11,389 ✭✭✭✭Saruman


    Think I would rather give my money to Halifax than Anglo Irish to be honest.

    yogasiva are those "current accounts"? Im asking about a current account not a savings account that i have to wait months to take money out.


  • #6
    yogasiva
    Closed Accounts Posts: 8 ✭yogasiva


    BOI - http://www.bankofireland.ie/personal/savings_and_investment/savings/easysaver/index.html


    ANGLO - http://www.angloirishbank.ie/Personal_Savings/Regular_Annual_Saver_Account/


    Both saving deposit accounts - no fees or charges


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  • #7
    dotsman
    Registered Users, Registered Users 2 Posts: 3,636 ✭✭✭dotsman


    Saruman wrote: »
    Think I would rather give my money to Halifax than Anglo Irish to be honest.
    :confused:
    Anglo Irish - Owned by the Irish taxpayer
    Halifax - British based PLC

    With all things being equal, why would you prefer to do business with a foreign plc over a company which you own (albeit a tiny minority!)?

    Is this another example of the Irish attitude of "curing the headache by cutting off the head"?


  • #8
    Iamhere
    Registered Users, Registered Users 2 Posts: 255 ✭✭Iamhere


    Im about to open a anglo savings account, money on there balance sheet is money on the states balance sheet...


  • #9
    KillerShamrock
    Registered Users, Registered Users 2 Posts: 1,405 ✭✭✭KillerShamrock


    Well it is on a current account and only up to 2000 i think plus you have to have a minimum lodgement every month.

    Oh and the govt guarantee here in any way is a deposit guarantee so deposits only what ever is in your current account isn't covered to the best of my knowledge. Please correct me if im wrong :)


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