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Halifax Closing?

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    #32
    Bomany
    Closed Accounts Posts: 83 ✭✭Bomany


    jaffa20 wrote: »
    What??

    Nothing has been confirmed yet. You shouldn't have left them if you liked them. A bank teller would be clueless about something like this at this stage. I just sent in documents this week to open a current account with them and switch from ulster bank. Hope they don't close but if they do it's not like we'll lose our money.

    I never mentioned losing money. Looks like you'll be switching banks again within a few months.


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    #33
    Klingon Hamlet
    Registered Users Posts: 2,738 ✭✭✭Klingon Hamlet


    Bomany wrote: »
    I never mentioned losing money. Looks like you'll be switching banks again within a few months.

    Really? Lloyds TSB injected more capital, why do so when the possibility of closure stands over the division? Or even if they wish to discontinue Halifax in Ireland, someone may buy it off them. Stay tuned...


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    #34
    Flossie34
    Closed Accounts Posts: 3 ✭Flossie34


    Can't see anyone wanting to buy it, reading the articles the money had to be invested due to the sorry state that the BOSI lending book is in, perhaps if it hadn't been for them and the lending to the greedy property developers they may not be closing the Halifax branches.

    Must be awful for the staff


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    #35
    jmccoy
    Closed Accounts Posts: 125 ✭✭jmccoy


    I for one hope that they keep the branch network open, in Limerick at least anyway. I switched my current account to them a little over a month ago from Ulster Bank. My reason for doing this is that their current product suits my needs better than the Ulster Bank product. As I am paid in cash by my employer I have to go through the arduous task of lodging my money in person every week, with Ulster Bank that resulted in 30 minutes of my time and a their leisure as far as opening hours go, with Halifax I'm in and out in a flash and their tellers are friendly. Also as I purchase online quiet a lot the Visa Debit card has been a dream, I don't have to rely on a credit card when doing this anymore. In short what I wan't from a bank (bearing in mind, I am the customer) is:
    • Open until 5pm and open on Saturdays
    • A debit card that can be used anywhere
    • Friendly staff to deal with

    Halifax ticks all those boxes for me and I will be inconvenienced if they go. I have kept my Ulster Bank account open though so it will be a seamless move back if things go belly up.


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    #36
    homer911
    Registered Users Posts: 5,119 ✭✭✭homer911


    Klingon Hamlet wrote: »
    Really? Lloyds TSB injected more capital, why do so when the possibility of closure stands over the division?

    As part of their banking license they have to maintain minimum capital levels - they have no choice but to recapitalise if they drop below the threshold. Every time they provide against a loan, it comes straight off capital as there is no profit to offset it. Also whenever a loan becomes impaired, they have to stop recognising income on it, while continuing to having to fund it through interbank borrowing or customer deposits. This is the same for every bank.


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    #37
    al_gore
    Closed Accounts Posts: 4 ✭al_gore


    I was all set to move to Halifax after a few of my friends joined them over the last couple of weeks so I guess my question is if Halifax do shut up shop and leave which bank is next best? I was especially interested in the debit card aspect of Halifax, god damn it!


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    #38
    Davy
    Registered Users Posts: 19,340 CMod ✭✭✭✭Davy


    al_gore wrote: »
    I was all set to move to Halifax after a few of my friends joined them over the last couple of weeks so I guess my question is if Halifax do shut up shop and leave which bank is next best? I was especially interested in the debit card aspect of Halifax, god damn it!

    If you were set to move, i would still do it. Their is nothing confirmed what is going to happen. It wont close and just leave you in the lurch if it does close.


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    #39
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    The game is up. Announcement tomorrow.

    http://www.independent.ie/business/irish/bosi-to-reveal-today-its-plans-for-halifax-branch-closures-1833953.html


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    #40
    Klingon Hamlet
    Registered Users Posts: 2,738 ✭✭✭Klingon Hamlet


    I hope to god they get a decent redundancy package. What a shamefully incompetent strategy---tell everyone bar your own staff that jobs are about to get chopped. Nice going, BOSI.


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    #41
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    Am I reading the same article? Nothing confirmed again..


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    #42
    RoadKillTs
    Closed Accounts Posts: 1,710 ✭✭✭RoadKillTs


    The game is up. Announcement tomorrow.


    Why did they spend so much on advertising recently if this was on the cards?
    Was it a last attempt to generate some business?

    Well ill miss them if they go. Decent enough bank.


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    #43
    100gSoma
    Registered Users Posts: 1,285 ✭✭✭100gSoma


    I see nothing confirmed at all in yesterdays article. In fact that outline the closure of all branches as the very worst case scenario. lets wait and see before we start talking redundancy packages.

    edit- Roadkillts
    If you read the whole thread you will see it has been noted that the advertisements would have been paid for in march or april before any of this was known.


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    #44
    uberwolf
    Registered Users Posts: 7,580 ✭✭✭uberwolf


    stepbar wrote: »
    The game is up. Announcement tomorrow.

    http://www.independent.ie/business/irish/bosi-to-reveal-today-its-plans-for-halifax-branch-closures-1833953.html

    nothing happened, nor will it for some months now.


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    #45
    Davy
    Registered Users Posts: 19,340 CMod ✭✭✭✭Davy


    uberwolf wrote: »
    nothing happened, nor will it for some months now.

    Did the director say the other day they were in it for the long haul


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    #46
    herya
    Registered Users Posts: 1,571 ✭✭✭herya


    uberwolf wrote: »
    nothing happened, nor will it for some months now.

    Well I'm happy with it and wish them the best for the future. Long live my Visa debit!

    I had my account with BOI before and my bf with AIB and none of them could provide such an excellent smooth service like Halifax does.


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    #47
    uberwolf
    Registered Users Posts: 7,580 ✭✭✭uberwolf


    http://www.independent.ie/business/irish/bank-suspends-decision-on-halifax-branches-future-1840230.html


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    #48
    cormie
    Registered Users Posts: 20,836 ✭✭✭✭cormie


    What would happen if they did actually close with regards all of our money? Would it still be accessible? Would we be sent cheques with the total amount? Would they keep it and we'd be out of pocket?


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    #49
    ectoraige
    Registered Users Posts: 2,100 ✭✭✭ectoraige


    cormie wrote: »
    What would happen if they did actually close with regards all of our money? Would it still be accessible? Would we be sent cheques with the total amount? Would they keep it and we'd be out of pocket?

    We certainly wouldn't be out of pocket. I would expect that the branches would not be closed immediately following such a decision, and that you could withdraw the money, or transfer it from online accounts. At worst, they would be sending you a cheque.


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    #50
    uberwolf
    Registered Users Posts: 7,580 ✭✭✭uberwolf


    cormie wrote: »
    What would happen if they did actually close with regards all of our money? Would it still be accessible? Would we be sent cheques with the total amount? Would they keep it and we'd be out of pocket?

    it would be phased. Certainly FULL service would be maintained for a number of weeks, before a wind down. At all times would your money and your debt remain yours. :)

    By the sounds of it, even if the decision to close is taken, I'll be doing my Christmas shopping with my Visa debit card


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    #51
    rameire
    Registered Users Posts: 4,152 ✭✭✭rameire


    so what would be the chance of Anglo ( irish gov ) buying up Halifax from its owners, and how much would it cost.

    🌞 3.8kwp, 🌞 Split 2.28S, 1.52E. 🌞 Clonee, Dub.🌞



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    #52
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,920 Admin ✭✭✭✭✭Toots


    Doubtful, it's a British owned institution.


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    #53
    Kashkai
    Closed Accounts Posts: 3,399 ✭✭✭Kashkai


    I've a tracker mortgage with them that is fixed at just 0.8% above the ECB interest rate so I'm paying just 1.8% interest on my mortgage at the moment which is great for me but I'm sure its a loss maker for Halifax.

    While I'm not 100% certain about it, I'm pretty sure they couldn't unilaterally end my tracker mortgage agreement even if they were sold to another bank. Would I be able to sue them for breach of contract then???? (he hopes)


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