Lloyds FRISA 6.5% Start Date disputes thread

roddydogs

6.5% fixed till April 09 looks even better now!

MiserlyMartin

Update. I have been on at Lloyds on and off for the last 3 months trying to resolve the issue about the start date of the 6.5% period. I spoke to Lloyds again today and they told me that an internal instruction appeared yesterday advising the company that the 6.5% period WILL now be applied not from the account application date but from the date of the first deposit until the 12 month aniversary. Apparently written confirmation will be sent out about this to customers. I have been told I will get this in writing by 4/2/09. I made it plain to them that if this does not happen I will go to the ombudsman and the media. Its looking good but I won't be joyful until I get that letter.

bristolleedsfan

roddydogs wrote: »

6.5% fixed till April 09 looks even better now!

Not as good as those who took out two year fixes at around the same time though @ 6.15% ish is it. :think:

Baldur

bristolleedsfan wrote: »

Not as good as those who took out two year fixes at around the same time though @ 6.15% ish is it. :think:

Which also wasn't potentially as good as those who took out the Halifax four year fix at 6.2%, which was available at around the same time......;)

malc1603

MiserlyMartin wrote: »

Update. I have been on at Lloyds on and off for the last 3 months trying to resolve the issue about the start date of the 6.5% period. I spoke to Lloyds again today and they told me that an internal instruction appeared yesterday advising the company that the 6.5% period WILL now be applied not from the account application date but from the date of the first deposit until the 12 month aniversary. Apparently written confirmation will be sent out about this to customers. I have been told I will get this in writing by 4/2/09. I made it plain to them that if this does not happen I will go to the ombudsman and the media. Its looking good but I won't be joyful until I get that letter.

Hi - do you know what will happen if you've already taken up their offer of a new fixed rate bond? (I got a letter from them which is supposed to be returned by next Monday if I decide to take the new rate)

MiserlyMartin

I don't know how the new FRISA stands with this but sure to say it won't have the same wording in the T's&C's as the last one. If I were you I wouldn't take that fixed rate, there are better variable rates out there and better fixed.

Lopo

Has anyone actually physically received this letter clarifying that the start date is when the funds first hit the account and not the account opening date? I'm looking at a April opening date, with funds clearing by June 08 situation - so its important what happens with those 2 months as letters received so far indicate it ends April resulting in just 10 months @6.5% !!

Additionally - what happens if you then choose to accept the special offer mailing offer for the new FRISA of upto 3.75% ? What would the start date be for the new rate exactly! April onwards or June as it rightly should be ?

Aaarrghh...I hate banks!

whu

Lopo wrote: »

Has anyone actually physically received this letter clarifying that the start date is when the funds first hit the account and not the account opening date? I'm looking at a April opening date, with funds clearing by June 08 situation - so its important what happens with those 2 months as letters received so far indicate it ends April resulting in just 10 months @6.5% !!

Additionally - what happens if you then choose to accept the special offer mailing offer for the new FRISA of upto 3.75% ? What would the start date be for the new rate exactly! April onwards or June as it rightly should be ?

Aaarrghh...I hate banks!

I had a letter from the branch saying it would be from the first deposit but was then told by the ISA dept (who I complained to about delays and got compensation) that it would be from the the date the ISA account was opened- so who knows!!

Lopo

whu wrote: »

I had a letter from the branch saying it would be from the first deposit but was then told by the ISA dept (who I complained to about delays and got compensation) that it would be from the the date the ISA account was opened- so who knows!!

Suggest you hold onto that letter and hold them to it when the time comes!

Was this letter a response to a query/complaint that you made or a general sent to all from Lloyds letter ?

Thanks.

whu

Lopo wrote: »

Suggest you hold onto that letter and hold them to it when the time comes!

Was this letter a response to a query/complaint that you made or a general sent to all from Lloyds letter ?

Thanks.

In response to my query regarding when thev 12 month period started