LloydsTSB Fixed rate Isa 6.5%

Mr._H_2

boobbby wrote: »

I am convinced !! And as a bonus I can draw on it at anytime without the large loss of interest incurred by a fixed ISA and which is why I left it there in the first place. It stays where it is !! (unless I get that new car!!)

Blimey. You must be paid a lot. Takes me about 30 mins all-in to fill in a form and post it. I don't earn anywhere close to £125 an hour!

boobbby

Mr._H wrote: »

Blimey. You must be paid a lot. Takes me about 30 mins all-in to fill in a form and post it. I don't earn anywhere close to £125 an hour!

Corr !! thats £1000 per day...or even £250,000 per year!! What have I done !! Still i suppose £62.50 dont seem so much when you look at like this!!

Mr._H_2

sloughflint wrote: »

Thanks for this Mr H.
I misread boobbby's post and thought that the new subscription had been paid in LTSB.
In any event though, I have learnt something here. Do you have any references I could read up on this?

There's an ISA fact sheet on the inland revenue & customs website, and I've found that their helpline (number provided in aforementioned page) is very helpful.

derrick

The number supplied on that page; -0845 6041701, a rip off 0845 number, can be substituted for this one; - 0161 9319070, a normal geo number. Ask for the "Savings Helpline"

carpy

i'm still in dispute with LTSB over the 'start date' for the 12 month term.

they maintain it's from application (notice of deposit) rather than when the money credited the account. that is there final response so now if i wish to pursue it's the FOS (financial ombudsman service).

anyone gone (or going down) this route?

:rolleyes:

sheslookinhot

carpy wrote: »

i'm still in dispute with LTSB over the 'start date' for the 12 month term.

they maintain it's from application (notice of deposit) rather than when the money credited the account. that is there final response so now if i wish to pursue it's the FOS (financial ombudsman service).

anyone gone (or going down) this route?

:rolleyes:

Surely its when the money was credited to the account. It would still have been earning interesst before it was transferred from your old provider.

tiptoe_mouse

Were Lloyds advertising an AER of 6.5% for this product? If so, and if no one seems to have received 6.5% for 1 year, then Lloyds are surely guilty of misdescribing their product?

tiptoe

derrick

They did not describe it very well, but in a nutshell what I got was; -

Opened acc in branch approx 12th April to transfer 2 ISA's , they where finally transfered, after a lot of letters and phone calls, some time in May,(if you trawl back through this thread you will find more exact details on my procedure).

What they then did was to pay the difference in interest from dates on cheques back to the date of acc "opening" to the date when they received them, therefore making the interest paid over the 12 months from "opening" acc in branch to 12 months after that date 6.5%,( for deposits over £9000), i.e. if a transfer was for £10000. and paying 5% interest in original bank, I "opened" acc on 12 April, money transfered on12th May,(date on cheque), Lloyds paid,as a separate entry, 1.5% for the time between 12th April and 12th May,(it will have been receiving 5% at the original bank until date on cheque) therefore when acc term of 12 months is ended on 12th April 2009 I will have had 6.5% for 12 months.

I hope you can follow what I have just written!

I also received a £50 cheque for my troubles.

tazz233

:eek: I think I might be the only person left still waiting for money to be transferred. I opened my Lloyds account in early April and still waiting on one transfer- I have submitted the ISA form three times and it keeps getting 'misplaced'. I have been told they will backpay the interest to May (30 days after account opened). What do you guys think, is this a good offer?

carpy

sheslookinhot wrote: »

Surely its when the money was credited to the account. It would still have been earning interesst before it was transferred from your old provider.

you would think so wouldn't you.........i don't think that's an unrealistic expectation!!!!!:mad: :rolleyes:

but no it's from date of 'opening' of account even though it meant if you were transferring in (as i did) it was impossible to get 12 months.....:rolleyes: