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Lloydstsb cash isa Problems
bobpat_2
Posts: 167 Forumite
Hi, I transfered an ISA from Barclays to Lloyds in May this year, and was told by the branch advisor that i would still be able to open another ISA for this year, 2012/2013. When i tried to open one today, i was told that the transfer counts as this current years opening. I think this is incorrect, can anyone advise please?.
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How did you transfer? My doing it yourself or by filling in an ISA transfer form?0
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You can pay new money into a new ISA so long as you haven't paid any new money into the other ISA, either at Barclays or at Lloyds, on or after 6th April.
But do you need to open another ISA, as opposed to just paying more money into the one you've got?"It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
I filled in transfer forms, and the bank advisor took care of the Lloyds part.0
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You can pay new money into a new ISA so long as you haven't paid any new money into the other ISA, either at Barclays or at Lloyds, on or after 6th April.
But do you need to open another ISA, as opposed to just paying more money into the one you've got?
The problem is, the savings dept. say that we cannot open a new ISA, because the transfer was in this financial year.0 -
Who are you trying to open an ISA with?
And you say you transferred in May, had you deposited any money between April 6th and the date of transfer?0 -
Hi, I transfered an ISA from Barclays to Lloyds in May this year, and was told by the branch advisor that i would still be able to open another ISA for this year, 2012/2013. When i tried to open one today, i was told that the transfer counts as this current years opening. I think this is incorrect, can anyone advise please?.
You can make a total contribution to a cash isa of £5340 for the current tax year of 2011-12.
Any ISA's from previous tax years have to be made by completing a transfer form, from Lloyds. If you do a withdrawl from Barclays and then pay it in, then you lost the tax wrapper for that year and the money would probably have been put in using this years allowance. :eek:How did you transfer? My doing it yourself or by filling in an ISA transfer form?
I hope it was with a transfer form.
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MoneySaverLog wrote: »You can make a total contribution to a cash isa of £5340 for the current tax year of 2011-12.
Any ISA's from previous tax years have to be made by completing a transfer form, from Lloyds. If you do a withdrawl from Barclays and then pay it in, then you lost the tax wrapper for that year and the money would probably have been put in using this years allowance. :eek:
I hope it was with a transfer form.
Yes, it was with the correct transfer forms.0
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