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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
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Sorry, this should be in the ISA forum. Can a Moderator please move the thread?0
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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Do you not want the ISA transferred, rather than withdrawn to retain the tax benefits?0
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magpiecottage wrote: »Do you not want the ISA transferred, rather than withdrawn to retain the tax benefits?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
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