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LloydsTSB Fixed rate Isa 6.5%
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No, it does not. You are misinterpreting the T&Cs although they are very badly written so that is understandable. The 'starting' phrase is ISA boiler-plate and it refers to when an ISA starts not the 12-month clock. This has been discussed to death in this thread.
I "applied" in branch and signed the application forms on the 11th April, for 2 transfers.
As of today,12th May, my account is NIL, therefore no "deposit", therefore under Lloyds T&CS the account is not "open"
From the back of the application form; -
1. account opening
2. Your FRISA will start from the date of your first deposit which must be accompanied by a valid application form.
As there is no deposited money in the account, how can it be open?
Don`t steal - the Government doesn`t like the competition0 -
I "applied" in branch and signed the application forms on the 11th April, for 2 transfers.
As of today,12th May, my account is NIL, therefore no "deposit", therefore under Lloyds T&CS the account is not "open"
From the back of the application form; -
1. account opening
2. Your FRISA will start from the date of your first deposit which must be accompanied by a valid application form.
As there is no deposited money in the account, how can it be open?
Why didn't you make an opening deposit?:doh: Blue text on this forum usually signifies hyperlinks, so click on them!..:wall:0 -
Why didn't you make an opening deposit?
2 transfers from previous providers one of which was a fixed rate until 15th April, therefore I put this years into one of them so as to transfer both at the same time, although what has that to do with the post about "opening" and "deposit" ?Don`t steal - the Government doesn`t like the competition0 -
2 transfers from previous providers one of which was a fixed rate until 15th April, therefore I put this years into one of them so as to transfer both at the same time, although what has that to do with the post about "opening" and "deposit" ?
OK, I have just spoken to someone who opened the LTSB fixed rate ISA on the 11 April with a deposit of £3600 and also a transfer from another BS which was showing in LTSB on the 7 May.:doh: Blue text on this forum usually signifies hyperlinks, so click on them!..:wall:0 -
OK, I have just spoken to someone who opened the LTSB fixed rate ISA on the 11 April with a deposit of £3600 and also a transfer from another BS which was showing in LTSB on the 7 May.
Lucky them, they have made it inside the "30 day rule".
But none of my transfer are showing as of now in Lloyds, NS&I have not received a request!Don`t steal - the Government doesn`t like the competition0 -
Having spoken to Jane Fowler at Customer Service Recovery Centre this morning I am informed that; -
My ISA was opened on 11th April,(when I filled in the application form in branch), and will end 10th April 2009, ( no money in there yet still awaiting transfers), when the old accounts are closed interest will be backdated to date on cheque, then an “ex gratis” payment of the difference from “opening”,(11th April), of LTSB FRISA back to the closure of the old accounts will be added, therefore making the term, (at 6.5% interest in this case), 12 months?
As an example in my case, Northern Rock sent a cheque on 1st May, it still is not deposited in Lloyds as of today, so interest will be at 6.5% from 1st May, then from 11th April,(account “opening”), until 1st May, Lloyds will apply a payment of the difference between 5.1%,(the NR rate at that time), and the 6.5%.
I am also to receive confirmation of this in writing!! Will have to wait and see about that.Don`t steal - the Government doesn`t like the competition0 -
Having spoken to Jane Fowler at Customer Service Recovery Centre this morning I am informed that; -
My ISA was opened on 11th April,(when I filled in the application form in branch), and will end 10th April 2009, ( no money in there yet still awaiting transfers), when the old accounts are closed interest will be backdated to date on cheque, then an “ex gratis” payment of the difference from “opening”,(11th April), of LTSB FRISA back to the closure of the old accounts will be added, therefore making the term, (at 6.5% interest in this case), 12 months?
As an example in my case, Northern Rock sent a cheque on 1st May, it still is not deposited in Lloyds as of today, so interest will be at 6.5% from 1st May, then from 11th April,(account “opening”), until 1st May, Lloyds will apply a payment of the difference between 5.1%,(the NR rate at that time), and the 6.5%.
I am also to receive confirmation of this in writing!! Will have to wait and see about that.
See also my posts 828 and 967 although I disagree with your example. The money is actually in my account and the only balancing difference is from the date on the cheque from the previous provider and the date the cheque was paid into my FRISA.0 -
Opened mine on 10th April - over 9K transfer from existing provider (was told that I had opened it in time for the 6.5%).
16th April I got a letter from Lloyds saying they had contacted my existing ISA provider (Kent Reliance).
24th April Kent Reliance say they received the request so I guess they have 30 days from then.
Over 6 weeks to get money in there, and still no written confirmation that I get 6.5% and no idea when the 12 months start from.
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I opened a LTSB Fixed rate ISA at the end of last tax year and my balance of over £27,000 was transfered into the account on 12 March 2008.
If I now add a further £3600 to that account, does anyone know what rate I will get 6.5% fixed or 5%.0 -
if you signed upto the 6.5% deal when you opened up the ISA I think you should get the same rate when this years allowance is added to it
I would think not.
Most fixed rate deals don't usually allow additional transactions during the term once the offer has been closed (as this one has).
Simple thing would be to check T&Cs0
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