ISA Transfer Lloyds TSB to A+L

Financial_Savvy

I am about to transfer all the family ISAs' from LLoyds TSB (£9,000+ 4.65%, £3,000+ 4.40%, £1,000+ 3.65%)

to A+L Direct ISA Issue 2 at 5.20%

Are there any fees involved? Will LTSB charge to move out, and at a later date if there is another provider better than A+L, will they charge me to move out?

Also regarding Interest, assume that Lloyds TSB will add the interest on the balance when they transfer it over, but can I add £3k in the 05/06 year in addition to the Interest balance or does the interest balance contribute to the total £3K? Make sense?!

Thanks

grumbler

Financial_Savvy wrote:

...Will LTSB charge to move out

The ISA they offer now does not have transfer fee. Possibly some past issues do have this charge, also this is very unlikely. It is better to ask them directly.

and at a later date if there is another provider better than A+L, will they charge me to move out?

No.

Also regarding Interest, assume that Lloyds TSB will add the interest on the balance when they transfer it over, but can I add £3k in the 05/06 year in addition to the Interest balance or does the interest balance contribute to the total £3K?

You can add £3000 every year regardless of the interest.

melancholly

Financial_Savvy wrote:

and at a later date if there is another provider better than A+L, will they charge me to move out?

I don't know if it's changed for issue 2 isas, but with my issue 1 isa i will have to pay £25 if i choose to move to a different provider....

grumbler

melancholly wrote:

I don't know if it's changed for issue 2 isas, but with my issue 1 isa i will have to pay £25 if i choose to move to a different provider....

They dropped this charge later with issue 1 too. Possibly (very likely) this also affects those who applied ealier. Ask them.

melancholly

grumbler wrote:

They dropped this charge later with issue 1 too. Possibly (very likely) this also affects those who applied ealier. Ask them.

Thanks - I will!
After posting here I went through my T&Cs and couldn't find any reference to it - it was, however, on an A4 sheet summarising the T&Cs that I signed when I openned the account. I will definitely go and find out (although I'm still happy with the rate and not planning on changing in the immediate future!)

isasmurf

See the bottom of this press release

The £25 ISA transfer fee has now been removed from all Alliance & Leicester ISA products.

melancholly

thank you very much!!

batty_2

since when was a+l isa fee removed , itook one out 3 days ago and it was still on then if you transfer out when i saw it on the notes i cancelled.

grumbler

batty wrote:

since when was a+l isa fee removed , itook one out 3 days ago and it was still on then if you transfer out when i saw it on the notes i cancelled.

Since summer. See A&L drop transfer charge and press release above. Direct ISA Issue 2 never had this fee.
If you have some contradicting information it is better to qoute it ...

muddyfox470

be careful though, the 5.2% isn't going to last forever. for instance their latest online saver has a 6month bonus

ian

NottsCountyRule

I am thinking of transferring my isa from Leeds & Holbeck into either A&L Ias 5.20% or Bradford & Bingley 5%. If I open with A&L their bonus runs out end of March 2007, however interest is paid on December 31st. If I were to transfer my ias from A&L in April 2007 to another ISA will they transer the earned interest as well? If so it's worth me going for instead of the B&B one.