Halifax Bank of Scotland (HBOS): A Schizophrenic Merger

Written by Karen Bryan

halifax bank of scotlandI was slightly puzzled when the letter I received reminding me of the maturity of my Halifax Guaranteed Reserve account was on letterhead from the Bank of Scotland. However, as I thought that the two banks had merged I didn’t dwell on it.  I phoned the number on the reminder letter to request a transfer of the maturity funds from the Guaranteed Reserve into my Halifax Web Saver Reward account. The agent put me on hold to check that she could set this up for me, then took a few minutes to get it done.  About half an hour later she called me back saying that unfortunately she couldn’t complete my request on the Bank of Scotland system, so I’d have to phone the Halifax to set up the transfer.

I called the Halifax who put me on hold and then transferred me back to the Bank of Scotland. By this stage I was getting pretty annoyed at having to explain my transfer request for the third time. That call lasted 47 minutes and in the end I was informed that the balance of the Halifax Guaranteed Reserve could only be transferred into my Halifax Reward Current account, not my preferred option of the Halifax Saver Reward, on the Bank of Scotland system. The agent was very apologetic saying that the two banks systems weren’t fully integrated.

Well, if that’s the case, why didn’t Halifax send the reminder letter about the maturity of the Halifax Guaranteed Reserve account with their phone number on it? Is HBOS one entity or two?