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As you are undoubtedly aware, the financial industry is undergoing a fair amount of pressure at the moment, particularly the HBoS Group. As a result of this, savers such as myself are understandably concerned about the safety of our hard-earned monies.

My problem with HBoS is as follows. I have £90,000 invested in a Halifax Extra Income Saver. This account requires 90 days notice to access withdrawals. In light of the current scenario I have requested closure in order that I am not exposed to having in excess of £35,000 with one financial institution, the maximum covered under the FSCS.

Halifax advises that under the terms and conditions of my account there is no special dispensation for early closure and I am unable to access my funds prior to December 2008. This concerns me greatly, as should the unthinkable happen then I face potentially losing £55,000 of my own money through no fault of my own.

However, I am aware that were my funds to be invested in a Guaranteed Reserve account with HBoS - a fixed term of six months, one, two or three years - then I would be permitted early closure without being required to give any form of notice. Previously, early closure of a Guaranteed Reserve was not permitted unless the account had been opened for a minimum of six months.

I fail to understand how Customer A (myself) is treated differently to Customer B (the Guaranteed Reserve account holder). The terms and conditions of a Guaranteed Reserve account presumably state early closure is not permitted before six months, so why are they now allowed preferential treatment?

I have put the requisite notice on my account for closure, however I am genuinely fearful that should anything happen prior to December 2008 then I will have lost the bulk of my savings, and this stance does not seem consistent with treating customers fairly.

Name and address supplied

HBoS response: