LloydsTSB Fixed rate Isa 6.5%

Fella

I applied to transfer my ISA into this product one month ago today. I just rang my existing ISA provider & they still haven't received any communication from Lloyds. I've heard nothing from Lloyds either.

Is this typical? Are Lloyds normally this spectacularly crap?

johnmoney05

Fella wrote: »

I applied to transfer my ISA into this product one month ago today. I just rang my existing ISA provider & they still haven't received any communication from Lloyds. I've heard nothing from Lloyds either.

Is this typical? Are Lloyds normally this spectacularly crap?

They are quite crap! My transfer took almost one month now. But I expect LTSB will credit my money and wrtie to me next week.

Do you keep a copy of the transfer form? If you do or you can fill one out again, then post it out to your existing ISA provider directly. That will be quicker!

SirHugo

Fella wrote: »

I applied to transfer my ISA into this product one month ago today. I just rang my existing ISA provider & they still haven't received any communication from Lloyds. I've heard nothing from Lloyds either.

Is this typical? Are Lloyds normally this spectacularly crap?

Exactly the same situation for me. Am due to see the 'Financial advisor' who sorted the transfer lunchtime today. I'm transferring the bulk of my ISA from the Nationwide, but on reading this thread realised I should also be transferring the whole of my Barclays ISA (as this is the one I have already paid into this year). If I am correct, this should actually be a requirement of opening the LloydsTSB ISA.

Also peeved that my initial deposit of £500 never went through when they opened a monthly saver for me recently.

Was looking also at the Share ISA (after a hard sell) to get the additional 1.5% on the cash ISA, but beginning to think this isn't such a good idea now.

SirHugo

johnmoney05

golly99 wrote: »

All

I've got an appointment at lunchtime today to transfer my M+S ISA to the Lloyds one...when I checked yesterday I realised i hadn't got the 9k in to get the 6.5% so transferred some cash in to make it over £9k...question is my statement details show the old amount so when I take this in to TSB will this be a problem e.g. do i need to wait until I get a new balance statement before I can transfer?

Any help appreciated

Don't think there is any problem. LTSB doesn't need your statement really, they just need the existing provider address and your accont details. And your personal details of course.

geesetd

Hi ,am I missing somthing here as neither moneyfacts or on the moneysaving site do they mention Lloyds 6.5 fixed Isa,There are lower paying accounts mentioned over this one.Also can you invest over £3000 in an Isa and still get paid 6.5 % but obviously then pay tax over that amount.I know that this year its £3600 you can invest?

KTF

You only get 6.5% if you have over 9k in the account. For amounts less than this the interest rate is lower which is why it probably doesnt display.

The 9k+ balance is achieved through transferring balances from other ISAs as you cannot pay in more than 3k (or 3.6 from April into an ISA) in each tax year.

geesetd

Thanks KTF for your response.I see now looking through others posts,they are say that the funds must be transferred in from other isa's, and some folk seem to be transferring from 2 and even 3 isa's.How can anybody have 3 isa's with various banks!! Can you open the account with a transfer from an orindary current Account?

KTF

Not all ISAs allow transfers in so if you pick the best rate one every year its easy to end up with several.

If you dont already have an ISA you can open the account and put in this years allowance (if you are quick) from your current account then top it up in April with next years.

Liz_the_Whizz

geesetd wrote: »

Thanks KTF for your response.I see now looking through others posts,they are say that the funds must be transferred in from other isa's, and some folk seem to be transferring from 2 and even 3 isa's.How can anybody have 3 isa's with various banks!! Can you open the account with a transfer from an orindary current Account?

I've got 5 ISAs with different building societies/banks - just happens that for various reasons, people open ISAs with different providers in different years but don't necessarily consolidate them.

You can deposit your £3k in the ISA for this tax year from a current account, but then of course you will not earn 6.5% as you need £9k for that rate.

Liz_the_Whizz

This morning, I finally opened my Lloyds TSB FRISA and initiated the transfer in of funds from my Skipton ISA.

What a palaver :rotfl: :rotfl: :rotfl: . I remember now why it is I have not had a branch based bank account for a long long time.

I first tried to open one a week ago but they would only give me an appointment if I met one of their tied financial advisors. Life (and lunch hours) are too short.

Soooo, I did a bit of phoning round and found a branch that does not have a financial advisor service - perfect. I sat down with a really nice guy there and together we worked out how to open one.

Good news was that the training pack and application forms for the fixed rate ISA arrived at their branch today. Bad news was that my guy hadn't opened the box yet.

So we went through the on-line application process for the first time slowly but surely. I filled him in on the finer points of ISAs (eg it is best not to withdraw your money yourself from an ISA in order to speed up the transfer:eek: , the transfer does not have to take place this tax year or your lose it, you really do need to fill in and sign a transfer form etc etc).

By the end of it, I think he had learned quite a lot;) .

Anyway, it's done - just have to wait for the transfer to actually happen. Wake me up in April just in case it's gone through and it's time to put my £3.6k in.