Leeds BS ISA transfer to Leeds BS

Ozzig

Hi Everyone, 

I opened a 2.75% Leeds BS ISA a year ago and after some research, I would now like to transfer it to an ISA with a better rate.

Considering two, the Natwest 2yr at 5.9% and also Leeds' 3yr at 5.55%

The latter mostly as I feel guilty about agreeing to a 30-month term then looking to move after 12 months, but I'd be £500+ better off. Also, it's one of the better 3yr rates.

Has anyone with Leeds BS ISA switched to another Leeds BS ISA midterm?
The T&Cs don't suggest it's not an option, but they focus on switching from or to other providers.

I have asked them, but they usually take 3-4 days when replying to secure messages, if no one knows here I'll post the reply when I get it.

Ta.

ScarletBea

Hi, I've done that exactly last week.
I did it in branch (because I had to go there anyway), but the lady there told me that we can do that (transfer within Leeds) via calling them or sending the secure message. Basically you tell them you'd like to transform the current X account into the new Y account - they just ask if you're ok with the penalty, you say yes, and that's it, done. 

Doctor_Who

The latter mostly as I feel guilty about agreeing to a 30-month term then looking to move after 12 months

I wouldn't feel guilty about transferring your ISA, you will be paying them a penalty fee so just choose the account that's best for you.

Considering two, the Natwest 2yr at 5.9% and also Leeds' 3yr at 5.55%

Is the 5.55% a special rate for existing customers? I can only see 5.50% for 3 years and 5.55% for 2 years on their website.

Ozzig

Doctor_Who said:
Is the 5.55% a special rate for existing customers? I can only see 5.50% for 3 years and 5.55% for 2 years on their website.

Sorry, that's my fault for not reading it properly. When I selected 3 yr ISA on money facts I saw Leeds and 5.55% but ignored the bit that said "2 year". 

Doctor_Who

Presumably that account appears in the 'Best ISA Rates - 3 year fixed' because it is a term account of slightly over 2 years. I see that it also appears in the 'Best ISA Rates - 2 year fixed' list as well. 

Ozzig

Doctor_Who said:

Presumably that account appears in the 'Best ISA Rates - 3 year fixed' because it is a term account of slightly over 2 years. I see that it also appears in the 'Best ISA Rates - 2 year fixed' list as well. 

I think you could be right. I saw it on the 2 years list, as I'd expect, then clicked the 3 year button and that's when the not reading it properly started

Ocelot

I was going to transfer my 2.75% one to another Leeds & Holbeck ISA, too.

Thanks for confirming how to do it, ScarletBea.

Bigwheels1111

3y 5.55% is Virgin Money, I have one. But it’s NLA.
All seem to be dropping 3y deals at the moment.

Ozzig

Just wanted to post an update.

It took 5 working days to receive a reply to my secure message, the reply just said to call them to discuss.

So I called them today to discuss, they confirmed the penalty amount, that I understood the transfer would not affect my ISA allowance for the year, and that if their rates improved within the next 14 days to call back and they'll just move it to the new rate. Account number stays the same too.

The whole call, hold time, pressing 1,2 etc, security check took 15 minutes and couldn't have been easier.