We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Lloyds Charging £20 for ISA withdraw
Dopple
Posts: 373 Forumite
I have to put £20K down as a mortgage deposit in the next couple of weeks.
I have just over that amount in a Lloyds ISA paying 2.5% and the same in an Newcastle Fixed Rate paying 5%.
So decided to not to touch the Newcastle money.
Today I went to Lloyds to get all but £100 out of the ISA to deposit into my Nationwide Current Account.
I was told that it would take a few days if I wanted the £20K in cash or
I could have a bankers draft which would cost £20.
I'm sure I read someone that banks have to you give a free alternative
to cash for a large withdraw, such as bank transfer?
I have just over that amount in a Lloyds ISA paying 2.5% and the same in an Newcastle Fixed Rate paying 5%.
So decided to not to touch the Newcastle money.
Today I went to Lloyds to get all but £100 out of the ISA to deposit into my Nationwide Current Account.
I was told that it would take a few days if I wanted the £20K in cash or
I could have a bankers draft which would cost £20.
I'm sure I read someone that banks have to you give a free alternative
to cash for a large withdraw, such as bank transfer?
0
Comments
-
Sorry, this should be in the ISA forum. Can a Moderator please move the thread?0
-
I'm sure I read someone that banks have to you give a free alternative
to cash for a large withdraw, such as bank transfer?
Not something I recognise. However the general rule seems to be that if you want a Draft from an account that doesn't support a cheque book (ie your ISA) ..... then the Draft should be free. The exception would normally be if you had a Lloyds current account you could readily transfer the ISA funds to.If you want to test the depth of the water .........don't use both feet !0 -
Do you not want the ISA transferred, rather than withdrawn to retain the tax benefits?0
-
magpiecottage wrote: »Do you not want the ISA transferred, rather than withdrawn to retain the tax benefits?
OP wants to use the money as a house deposit.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.3K Banking & Borrowing
- 254.7K Reduce Debt & Boost Income
- 455.9K Spending & Discounts
- 248K Work, Benefits & Business
- 605.2K Mortgages, Homes & Bills
- 178.9K Life & Family
- 263K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards