LloydsTSB Fixed rate Isa 6.5%

boobbby

Judwin wrote: »

I have a copy of My application form, and it clearly shows my request for £20K. What I don't have is a copy of the interbank communications to see if LLoyds actually requested a full or partial transfer.

However, I personally don't think the figure on the form alone is enough information for Abbey to process the application. If I'd wanted the full amount to be transferred, what would you put on the form? You can't know the Exact amount because interest is calculated daily, and you can't know on what day Abbey are going to process the transfer request. If I'd requested £30K, but the amount with the Abbey was £30,007 (say) are they supposed to transfer the £30K requested, leaving £7 in the existing account, or are they supposed to 'know' that you want the full amount transferred, and close the account.

As I say, I haven't seen the interbank transfer form, but unless it makes clear wheter the requested transfer is full or partial, I can see how Abbey can make a 'mistake'.

Ho Hum. Still no phone calls.

Cant really agree.... if I had asked for £20K then I would expect £20K to be transfered... any interest and remaining balance would remain with Abbey. Anyway I will let you know what happens to my partial transfer from Halifax

tawse57

Dummies question - if it takes X days to move money from other ISA providers do you lose interest. I have seen mention in this thread that it can take 6 weeks to transfer ISAs to Lloyds so is that 6 weeks of lost interest?

Also, I thought the advice on Martin's best savings advice was that it did not make sense to go with restricted access accounts as the IRs were not that much better than no restrictions accounts?

KTF

The transfer is sent via a cheque and most providers back date it to the date on the cheque.

Beate

Judwin wrote: »

However, I personally don't think the figure on the form alone is enough information for Abbey to process the application. If I'd wanted the full amount to be transferred, what would you put on the form?

Exactly that - "Full Amount". I have done that before and it worked beautifully.

bristolleedsfan

KTF wrote: »

The transfer is sent via a cheque and most providers back date it to the date on the cheque.

Lots dont sadly. :embarasse

Richchad

We opened a couple of the Lloyds Fixed rate ISa's this morning at our local branch, a bit of a performance, the guy had to keep popping out to ask someone each time he couldn't answer a question either from me or on the application forms. :rolleyes:

I did ask about transferring our TOISA's once the accounts are up and running maybe next month and could I do it online, as usual he said he would ask before we go and then we all forgot about it :mad:

Does anyone know how you go about transfers after opening an account or maybe it is too soon to know, I have looked on their website but cannot find any pdf transfer forms to download only an application for a Mini Cash ISA?

wearside_2

wearside wrote: »

My wife and I are going to our local Lloyds on Monday to open one of the new Fixed rate ISA's. We both have over £9000 in the Kent but that only pays 5.76% from today. I hope that we do not have to go through the process off seeing Financial Advisors etc. to open the account.

As far as I am concerned, the process should be straightforward. Fill the forms in, show our passports for ID, fill in and sign transfer forms for the Kent and bid a fond farewell!!:D

My wife and I went into our local Lloyds this afternoon. We saw a nice lady in a small room, who completed our application forms on the computer and took photocopies of our passports and a letter from the Kent regarding our latest balances. She said that she expected the funds to be in our account next week and that someone would telephone us to confirm that they had been received. We both received copies of the application forms. She said that we could operate the account online and that next years ISA deposit could also be done online.

The process took 45 minutes and we were not offered any other product.

I did consider the Barclays alternative but as the web site said that ISA transfers in were not allowed, it was a no brainer!

MiserlyMartin

To Judwin, this happened to me too.
The year before last I had the money in an Abbey ISA. I wanted to do a partial transfer (for some good reason- can't remember now) but when Alliance & Leicester got the transfer it was for the full amount. It turned out that Abbey did a full transfer ignoring my partial transfer instructions. This year I transfered again from Abbey, to Lloyds but did not ask for a partial transfer so I can't comment on this problem this year. I did complain to Abbey at the time but they couldn't do anything after the event. I didn't have the energy to take it further. It does seem though that Abbey don't know what a partial ISA transfer is, so maybe lay off Lloyds a bit.
Although your stories of Lloyds staff's lack of ISA knowledge is very worrying! I know what you mean about wanting to do a Victor Meldrew. Why can't banks employ people who know the score or at least train them to be be financially literate. Not much to ask in a bank! Although I also blame todays education system for the poor calibre in those respects of school leavers or grads today.

I'm still waiting to hear some news re. Lloyds and if they are going to correctly compensate me for loss of interest on transfer from Abbey. But I have had some rubbish in the post from them about how to complain and giving me the 'number' of my local branch - a rubbishy 0845 one! When are companies going to learn 0845 is not local!!! And expensive.

sleepless_saver

tawse57 wrote: »

Dummies question - if it takes X days to move money from other ISA providers do you lose interest. I have seen mention in this thread that it can take 6 weeks to transfer ISAs to Lloyds so is that 6 weeks of lost interest?

I have just transferred from Yorkshire BS to Lloyds fixed rate. My YBS account was closed on 19 Feb (YBS wrote to tell me). Today I got a letter from Lloyds to confirm they had the money and were adding £41 in interest for the days from 19 Feb to date of their letter. So you won't lose interest transferring to Lloyds;).
Can't speak for other ISA providers though.

liitleblackcat

Richchad wrote: »

We opened a couple of the Lloyds Fixed rate ISa's this morning at our local branch, a bit of a performance, the guy had to keep popping out to ask someone each time he couldn't answer a question either from me or on the application forms. :rolleyes:

I did ask about transferring our TOISA's once the accounts are up and running maybe next month and could I do it online, as usual he said he would ask before we go and then we all forgot about it :mad:

Does anyone know how you go about transfers after opening an account or maybe it is too soon to know, I have looked on their website but cannot find any pdf transfer forms to download only an application for a Mini Cash ISA?

We transferred our mini cash ISAs from Kent Reliance to Lloyds TSB yesterday and asked specifically if we could transfer another mini cash ISA (with NSI) later as we needed some of the cash for building works and therefore didn't want to move the whole lot there and then. The lady went to talk to someone else and came back with the answer "no".

It looks like there isn't a way to do a second transfer at a later date (and presumably this applies to TOISAs as well), although I am going to try again once the first transfer has gone through.