Halifax Web Saver celebrates its fifth year

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Halifax Web Saver celebrates its fifth year

Wed 19th Apr 2006

Five years of the Halifax Web Saver have been marked today, with the bank reporting that since the account's introduction, the number of people banking online has risen by 51.7 per cent.

Some 44 per cent of adults accessed personal banking and financial services online in the three months to October 2005, according to the Office for National Statistics.

The Halifax Web Saver offers a number of features to users, including a choice of a range of fixed-rate terms, or a variable rate deal with or without a cash card.

Rates for the variable package start at four per cent per year with a cash card and 4.5 per cent without one, while fixed rates range from 4.5 to 5.1 per cent gross per year for terms ranging from three months to five years on minimum balances of £500.

"In the five years since Halifax launched its Web Saver, the internet landscape has changed dramatically, with more and more people choosing to manage their savings online," said Peter Jackson, head of banking and savings at Halifax.

"One thing has remained constant, however, and that is Halifax's commitment to offering a great rate of interest to everyone, with no penalties for accessing their savings."

The Halifax Web Saver has "no catches", according to the bank, comparing it to the first direct offer, that pays no interest in any month in which a withdrawal is made, and the Nationwide e-Savings account, which is only available to FlexAccount holders.

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