Lloyds FRISA 6.5% Start Date disputes thread

MiserlyMartin

I still haven't received my letter and was promised a call from Lloyds to discuss the issue today. That call never came. So no joy here.

Baldur

MiserlyMartin wrote: »

I still haven't received my letter and was promised a call from Lloyds to discuss the issue today. That call never came. So no joy here.

Received mine yesterday and I'm still in dispute with them via the FOS & still awaiting the transfer of one reasonably large tranche of ISA funds from early last March.

Yours should arrive soon.

sheslookinhot

sheslookinhot wrote: »

Can you please advise on my expectation when it comes to calculating interest.


4th April 2008; - open acc in branch, arranged transfer fof ISA from IF
11th April 2008; - deposit of £3,600 from current account (lower interest I think for sums below £9,000).
28th April;- IF account closed
28th May 2008; - transfer (£13,200) arrives at Lloyds.

1. Am I right in thinking lower interest (3% ?) on deposit until 6.5% kicks in on 28 May.
2. Interest on £13,200 only applies from 28 May (TSB allowed 30 days to transfer (28 Apr-28 May).

Thanks

Can anyone advise as above ?

Thanks

Baldur

sheslookinhot wrote: »

Can anyone advise as above ?

Having exchanged correspondence with LTSB, from local branch to CEO, for ten months without resolution, I am wary of advising on anything relating to this account without having it in writing from LTSB.

As I recall there were tired levels of interest, so they *should* pay you the relevant rate for the balance in the account for any particular period.

caveat_emptor

Received a letter from Lloyds today saying that I could withdraw my FRISA without 90 day notice. Mmmm thanks a lot, Lloyds must be desperate to unload their high interest accounts.

Tweetinat

Just to add another voice, I also received confirmation that my FRISA would mature on 12m anniversary of 1st deposit on 9th April (which was £3600). However, my transfer didn't arrive until 12th May so I called up and received confirmation (and awaiting in writing) that the interest will be backdated to the date on the cheque (which in my case is 9th April too) meaning I will get the full 12m interest rates on my deposits.

Tweetinat

sheslookinhot wrote: »

Can anyone advise as above ?

Thanks

Can't answer 1) but in response to 2) you should receive backdated interest to 28th April. Due to delays in processing transfers, I've been advised that they're applying interest from the date on the cheque from your previous provider (in your case, 12th April), not the date that it was credited to your account.

sheslookinhot

Tweetinat wrote: »

Can't answer 1) but in response to 2) you should receive backdated interest to 28th April. Due to delays in processing transfers, I've been advised that they're applying interest from the date on the cheque from your previous provider (in your case, 12th April), not the date that it was credited to your account.

OK, Thanks. It was actually 28-April when cheque was issued by IF.

michaels

How do people know what date the 'cheque' or whatever from the pre ltsb isa provider was received by ltsb on?

sheslookinhot wrote: »

OK, Thanks. It was actually 28-April when cheque was issued by IF.

Tweetinat

michaels wrote: »

How do people know what date the 'cheque' or whatever from the pre ltsb isa provider was received by ltsb on?

It's not the date that it was received by LTSB, but the date printed on the actual cheque. This will match the date which your previous provider closed your ISA account.