Halifax Kid's Regular Saver

I set these accounts up in 2023 for my two children. It was such a pain to do it. Very laborious online and then you have to go into the branch to submit further documentation. The branch said they couldn’t help as I needed to make an appointment. And there were several more hurdles to actually open the accounts. Having to have both the Kids’ Saver ans Monthly accounts is confusing. Once they were set up, it was just as hard and frustrating to get set up online. And I’ve recently had my device de registered from online banking as I haven’t logged on recently. So frustrating! I’m going to close these accounts down and move to Yorkshire Building Society where my third child has an account and who are brilliant.

This account was a pain to set up it took me 3 weeks of trying to send the details via the computer. In the end I had to go to the local branch to show his birth certificate only they then had to photocopy it and get me to violin another form for the branch to send to the online decision of the bank. A week later I received an email from Halifax to say it was set up and I needed to put money in to it. My wife went into the branch in person as we were unsure the details where correct as all the emails they sent seemed to disappear from my account? She was told they could pay the. Obey in but couldn't confirm it was my sons account as I was the one who opened the account. It is now towards the end of the 2nd month and I have still to make another payment as I still don't have any documentation to prove the account exists!?!

I had no problem with my childrens' Halifax savings accounts when they were younger, but the local branch closed down & the past few years I've been made to travel 10 miles to the nearest one in order to transfer their money to their linked (Halifax) accounts. What a piece of nonsense! The interest rate is good but not worth this faff so we'll be leaving. So long, Halifax!

Cons: Not only have they not provided any account documentation at any time, but now they have lost record of the supposedly connected young saver accounts and are requesting that I open such accounts now for the regular saver money to be transferred to. This is an incredible shambles for such a major bank. Won't be using them again.

Pros: None

I opened this account for my daughter about nine years ago. Back then the regular saver paid 10% and after 12 months the balance was transferred into a easy access Kids book account called "Save 4 it" and then the whole process started again. Nice and simple, until they changed things, then changed them back and then changed them again,(I think).

The regular saver is now called Young saver paying 3% which is ok as the balance now builds up with no transfers and you can get a cash card once your child reaches seven. The book account is no longer available.

Accounts change in all banks but the whole process should not have been so "messy" and complicated, then I wouldn't have to waste my time ( and the advisers time) going into the branch to have it all explained to me as the letters that explained the changes were difficult to follow.

In principle the account is good,and Im happy overall but please don't break it if its not broken.

Buyer beware!! I opened this account 4 years ago for my granddaughter and since that time, every year has been fraught with problems and I have had to make appointments at the branch to go in and sort them out. The right hand does not know what the left hand is doing! I have been given totally different information on this account by different branch staff and on the telephone and have made two official complaints and been paid £50 compensation for Halifax inefficiency. This year's debacle has been that the transfer of funds cannot be transferred to the opened kids savings account when it matures in July because the two accounts are not compatible!! albeit that they opened them up at the same time and funds have been transferred before!! I now have to make an appointment again at the branch to open a new account, get my granddaughters birth certificate AGAIN and take my own identification in again. I am at my wits end with this account. The branch manager says she will open up a complaint for me but she is really anxious to rectify it before going down that road! Of course she is! The 6% draws you in but the account is a nightmare and I am going elsewhere. Nightmare, dont touch!

I can only agree with the vast majority of comments on this site. I have held a kids regular saver for several years and, on each occasion, the transfer to the 'new' account and continuation of the existing account has been fraught with problems. As previously advised, there is no way you can find out any information unless you can get to a branch. The branch staff know less about the accounts than I do having read the terms and conditions.

All I can say is that those of you who have given a score more tha 1 appear to be 'first time' account holders. Beware when the 12 months is up, the process is certainly anything other than straightforward unless you are happy for them to take weeks to process the payment and 'open' the regular saver again.

The interest rate is good compared with others on the market at the current time but I am seriously considering cancelling my account and moving the money from this and the savings account to a bank with a better customer service ethos. Sorry Halifax, you have lost another 3 customers at least.

The Halifax and this account in particular, need to be investigated by the Watchdog/Financial Ombudsman.

You do not get a passbook or any means to keep an eye on what is happening with your money. Only one yearly statement is sent. You have to call personally at the branch, under strict appointment, to do anything regarding these accounts and you only get 3% not 6% interest (if you're lucky enough to get any interest at all).

We as parents, are trying to educate our children about the value of saving.

Halifax, I find you guilty of deliberately misleading the public, tying us up in red tape and then cheating us out of what you promised us!

I have Halifax Regular Saver accounts for my kids a few years back. Some time last year I believe they did some changes with their system, don't know why! As a result, I can't see my kids account online again, they just disappeared! When I went down to my local branch trying to move my money and to make sure everything is in order, no one seems have a clue what's going on! When I ring the branch hoping to find someone that can help was only being told that I have to make an appointment with my local branch as they don't deal with kids' account on the phone!!!!!!!!!!!!!!!!Why? Why can't they?

For god's sake, no wonder Lloyds share is doing so badly, this is not the way to run a proper bank! When trust is gone, so will your customers!

I can only echo the previous poor reviews of the Halifax children's regular saver accounts. I have never had such a bad experience with any bank before (I bank with first direct who are wonderful). I tried to open accounts for my 4 children. The first problem was having to attend a Halifax branch in person. I work full-time but managed to get to my local branch eventually. The 'signing on' process was tedious and extremely lengthy. After a few weeks there was no sign that the accounts on the website were functional. There was no way of communicating with Halifax online although these are supposed to be online accounts. I phoned to be told that I needed to go back to my local branch as they had made mistakes on two of the accounts. I refused and was told that they could make the changes over the phone after all. I had to make numerous phone calls to get the accounts opened. Each time I looked at the website 2 different accounts would be inactive, even though they had been activated after a previous phone call. Payments from my bank to the accounts were bounced. It was like some terrible joke. When at last all 4 accounts were active, all money transfers were again bounced as they, one by one, changed the account codes for no apparent reason. At last all seemed to be going smoothly for a couple of months, but no, they started bouncing back money that should have been transferred from my bank to the childrens' accounts. Again, it would be different children's money sent back each month! First Direct have been phoning and e-mailing me each month worried about the money being returned by the Halifax, but I have had no communication at all from the Halifax apart from a phone call trying to sell me other products! I am going now to close the accounts. I will not have received the 6% interest but I am past caring. I cannot believe how poor the service has been and I will not be going near the Halifax again.