Leeds Building Society Online ISA 2013 / 14

dreamypuma

Last year I, like may others opened a Leeds Building Societies Instant Access Online ISA offering 2.55% (Including a 12month bonus) allowing transfers in.

I was looking to open a new ISA this year, but thought in the interim period I would just add this years total cash allowance to my existing Leeds Account. Phoning Leeds they say this is not possible.

Has anyone managed to do this? Does this sound right? Last years opening letters provide account details for there clearing account, and don't mention any limitations on deposits (beyond the obvious annual one)

GreenBitterfly

I put fresh money in, but never tried to transfer funds in, as other people commented on here, that they couldn't transfer in. I think Leeds BS were rather cack-handed with this account, and haven't been that impressed with them since.

badger09

dreamypuma wrote: »

Last year I, like may others opened a Leeds Building Societies Instant Access Online ISA offering 2.55% (Including a 12month bonus) allowing transfers in.

I was looking to open a new ISA this year, but thought in the interim period I would just add this years total cash allowance to my existing Leeds Account. Phoning Leeds they say this is not possible.

Has anyone managed to do this? Does this sound right? Last years opening letters provide account details for there clearing account, and don't mention any limitations on deposits (beyond the obvious annual one)

I've had mine transferred now and can't lay my hands on the T&C but I'm fairly sure they said further deposits would be allowed as long as the product remained on sale. Similar to the E-ISA here

http://www.leedsbuildingsociety.co.uk/savings/isa-tax-free-accounts/

Sadly the Online Bonus ISA was withdrawn after a very short time.

neil324

What was the bonus amount paid on this account. I know it ends this month.

I tried to transfer in around September and was told it was now closed to new money.

veryintrigued

After numerous posts on here about not being able to transfer in I sent LBS an email and asked if I could transfer a NW into the LBS 2.55 in Oct last year. The assistant replied I could and sent a transfer form. This went through fine in November.

I tried the same tact in Feb this year for a maturing Halifax one and failed. I suspect it was an assistant giving me dud info on the first occasion but because I enclosed the email with my request LBS honoured it.

mt77

dreamypuma wrote: »

Last year I, like may others opened a Leeds Building Societies Instant Access Online ISA offering 2.55% (Including a 12month bonus) allowing transfers in.

I was looking to open a new ISA this year, but thought in the interim period I would just add this years total cash allowance to my existing Leeds Account. Phoning Leeds they say this is not possible.

Has anyone managed to do this? Does this sound right? Last years opening letters provide account details for there clearing account, and don't mention any limitations on deposits (beyond the obvious annual one)

Yes, I have been able to pay in this year's (£5940) cash ISA limit into my Leeds Online Bonus ISA account. Checked my account this morning and online faster payment transfer received on 07 April without any problems. It was fairly straight forward setting up online following the instructions provided in the letter from Leeds last year; Just needed their sort code, account number and the 10 digit bank reference number (important to quote).

Never needed to phone or visit their branch to pay in, as their letter from last year stated that I can make electronic bank transfers to it (as stated above). Seems like you're being played around.

mt77

neil324 wrote: »

What was the bonus amount paid on this account. I know it ends this month.

I tried to transfer in around September and was told it was now closed to new money.

Standard rate is 1.30%. Bonus element (only up to end of this month) is 1.25%. Total = 2.55%.

dreamypuma

mt77 wrote: »

Yes, I have been able to pay in this year's (£5940) cash ISA limit into my Leeds Online Bonus ISA account. Checked my account this morning and online faster payment transfer received on 07 April without any problems. It was fairly straight forward setting up online following the instructions provided in the letter from Leeds last year; Just needed their sort code, account number and the 10 digit bank reference number (important to quote).

Never needed to phone or visit their branch to pay in, as their letter from last year stated that I can make electronic bank transfers to it (as stated above). Seems like you're being played around.

That's reassuring. I think I'm going to transfer a £1 to test the transfer. I seem to remember doing a faster transfer into the account last year so may have the account set up on my current account already.

I wasn't particularly impressed by them last year, so wouldn't be surprised if I've been advised incorrectly. This lack in confidence was what prompted me to ask the question.

dreamypuma

GreenBitterfly wrote: »

I put fresh money in, but never tried to transfer funds in, as other people commented on here, that they couldn't transfer in. I think Leeds BS were rather cack-handed with this account, and haven't been that impressed with them since.

Was that new money this year or last? If this year do you just do a transfer?

badger09

veryintrigued wrote: »

After numerous posts on here about not being able to transfer in I sent LBS an email and asked if I could transfer a NW into the LBS 2.55 in Oct last year. The assistant replied I could and sent a transfer form. This went through fine in November.

I tried the same tact in Feb this year for a maturing Halifax one and failed. I suspect it was an assistant giving me dud info on the first occasion but because I enclosed the email with my request LBS honoured it.

mt77 wrote: »

Yes, I have been able to pay in this year's (£5940) cash ISA limit into my Leeds Online Bonus ISA account. Checked my account this morning and online faster payment transfer received on 07 April without any problems. It was fairly straight forward setting up online following the instructions provided in the letter from Leeds last year; Just needed their sort code, account number and the 10 digit bank reference number (important to quote).

Never needed to phone or visit their branch to pay in, as their letter from last year stated that I can make electronic bank transfers to it (as stated above). Seems like you're being played around.

Now I am seriously confused - not to say displeased! Like many others, I opened this as a potential home for when a Nationwide ISA rate dropped in November 2013.

Like many others, I was told this was not possible as, by then, the account had been withdrawn from sale, so it was not possible either to transfer in (or add new 2014/15 money, which I didn't actually intend to do)

GreenBitterfly

dreamypuma wrote: »

Was that new money this year or last? If this year do you just do a transfer?

It was the last financial year, when I had a couple of regular savers mature, I put the proceeds into the Leeds Building Society ISA.