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LLoyds/Halifax ISA Cashback Offer question
Comments
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Was there an option to delay the transfer?
I have a Barclays cash ISA which matures 21 June and don't want to move prior to that as I'll lose 3 months interest. Obviously am aware the instruction to transfer must be made by 31 May
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When you complete the transfer request form there is the option to transfer immediately, or wait until maturity of your existing ISA.
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Transfer completed today… transferred funds is in my Halifax ACC now.
I will still complain because its been a stressful week pushing the two banks to move themselves. And what if it didnt complete today/tomorrow? Mon would have been too late in their view….
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My isa transfer has completed as expected today. Monday wouldn’t have been too late in their view because you seem to be fixed on catastrophising every and any reason for problems to arise? Or I won’t qualify because my transfer didn’t complete by 31st May? Only that isn’t a problem as it’s clear it only needed to be initiated by 31st. Good luck with your complaint, but the provider isn’t responsible for your anxiety I’m afraid!?
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In the end we should all just rely on their official press release launching the offer - it is still there. You can't argue with that - its official - and is consistent with the legal terms which were on the websites.
In summary:
ISA transfers requested between 11 March and 31 May which complete by 31 August will be eligible for the offer. They will do the sums in early September (as your £25k+ must still be with Lloyds at 31 August to qualify) and pay your cashback into your Lloyds current account by 30 September.
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I submitted my transfer at 10pm on Sunday as my Santander ISA matured on Monday. I didn't want to tick the "please wait" box because it might complicate the cashback, though I could fight that, but also if things were delayed Lloyds would pay me interest immediately as the ISA is free to move.
The transfer had completed by Monday afternoon, which is pretty impressive for both parties.
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Don’t forget to keep your £25K+ in your Lloyds isa to at least 31st August to keep your offer hopes alive. Reviewed in September for payment into current account by end September.
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well they better pay out otherwise i would have gotten better with a non traditional provider as rates were higher but i thought i'd take the risk this time as the actual cashback makes the effective interest over 5%.
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anyone had the payout yet or is it too early to ask?
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No. Yes.
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