Problem with my ISA

MightyBlades

Hi everyone. I have just started saving money in an ISA. I chose the Lloyds TSB Fixed Rate Cash ISA because I already have my bank and credit cards with them, meaning it will be easy for my to keep track of my savings online.

The issue I have is that I mis-read the t&c's which say there is a minimum opening balance of £3000, however I only deposited £1000, which is there now. I don't have enough money to deposit the additional £2000, so what will happen to my account?

Thanks :o

Lokolo

Ask them would be the best thing to do.

I would also point out that once a deposit has been made, thats it. You cannot deposit anymore. And because you cannot subscribe to more than ISA a tax year, so you wouldn't be able to use the rest of your ISA allowance.

MightyBlades

Thanks for that, I am at work at the moment, so thought I'd ask the real experts on here - cannot use the phone! (Procrastination on the internet is fine though...)

The T&C's also say 'You can make further deposits throughout the term to make full use of your yearly cash ISA allowance.'; is this what the second part of your post was in relation too?

DreamerV

MightyBlades wrote: »

Thanks for that, I am at work at the moment, so thought I'd ask the real experts on here - cannot use the phone! (Procrastination on the internet is fine though...)

The T&C's also say 'You can make further deposits throughout the term to make full use of your yearly cash ISA allowance.'; is this what the second part of your post was in relation too?

Is there a way to send them a secure message online? I sometimes find it useful to have a note of what they say in writing, and then phone them to clarify if necessary. I hope you get it sorted.