Hi Guys, I'm looking for some advice on a Halifax ISA we took out in September 2017 for a fixed 2 year rate.

We took it out with £15203.51 as we had the money in a do nothing account and it wasn't expected to be needed.

Circumstances have changed and we need to use the money, all of it, so we made an enquiry to close the account and Halifax have said there is a penalty of 180 days interest.

Which means (if my calculations are correct) on the 0.6 interest rate we would have to pay the bank £45 to get our money back with no interest at all.

I think this is outrageous as they have had and used the money since September - it is our fault as we (blame the wife) didn't read the small print of 180 days interest penalty when the account was opened.

Does anyone think we have any grounds to complain and not pay the penalty?

Indeed but unfortunately correct if there's no interest in the account they will just take off the balance

I have one of the use over 5 years with the interest paid annually if you terminate after four years you lose the previous interest paid

No chance!

You want £15K now and it will cost you £45 over 6 months?

Try that again for a short term loan.

No chance!

You want £15K now and it will cost you £45 over 6 months?

Try that again for a short term loan.

Not sure what you mean?

You want to release £15.2K from a 2 yr fixed term ISA within 5 months of opening.

You lose the benefit of the tax free interest rate and the orig sum reverts to an easy access/term savings account paying x%pa with the loss of 120 days interest for immediate access, which you assess as a loss of £45

My point was try to get another £15.2K loan that will cost you less than £45.(

I don't want a loan and your answer has nothing to do with my question.

Your opinion!

Loss of £45 Interest (Halifax condition) is a small cost to pay for immediate access to £15.2K.

My opinion?

Damn right it is, my money, loaned to a bank to profit from and they charge me to take it out after 6 months.

Daylight robbery by greedy bankers.