If You Can Open an Account Online You Should Be Able to Close It Online

Written by Karen Bryan

Halifax logoI received a letter from the Halifax reminding me that my Regular Saver Account matures next month.

The Halifax Regular Saver allows you to save between £25 – £250 a month, for 12 months, at a fixed rate of 2%. On the anniversary date, the full balance is transferred to a Halifax Everyday Saver account and a new 12 month Regular Saver begins, paying the rate of interest applicable on the date which the new account starts.

That’s annoying, as how can you decide if you want to continue the Regular Saver Account for another year, if you don’t know in advance the rate of interest which will be paid.

In the letter, it stated that if you decide not to continue with your Regular Saver Account, you need to make an appointment in a branch, before the account anniversary date, in order to close the account. I think that’s ludicrous. I opened the account online, so why am I not able to close it online?

I’ve come across this nonsense before. When I wanted to close a Nationwide current account, I was told that I’d need to go into a branch in order to do this.

For goodness sake, who wants to waste their time going into a branch for something as straightforward as closing a bank account? We don’t even have a branch of either the Halifax or the Nationwide in Berwick-upon-Tweed.

In my opinion, it should be a legal requirement that if you can open an account online, that you should be able to close it online.