edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
4 replies 1.1K views
I would like to advise individuals who may have an isa maturing in the near future, an 82yr old friend of mine received a letter from Lloyds advising her that her isa was due to mature, there was no maturity date on the letter, and as she could get a higher interest rate elsewhere she decided to transfer the isa to another provider, when the transfer had gone through she found she had been charged £393.47 in penalty charges by Lloyds bank as the isa was closed FOUR days before its maturity date, Lloyds stated they had done nothing wrong and my friend should have checked the maturity date herself, I was under the impression that banks were obliged to advise customers of appropriate/inappropriate transactions, to treat people fairly and act in the customers best interests, clearly this hasn't happened in this instance, I feel Lloyds staff seen an opportunity to save the bank a couple of hundred pounds at the expense of an elderly lady and took that opportunity maybe someone got a couple of brownie points for it, anyway as I said anyone with a isa maturing soon make sure you check the maturity date yourself to ensure you also don't lose out. :mad:
This discussion has been closed.
Latest MSE News and Guides