LloydsTSB Fixed rate Isa 6.5%

Liz_the_Whizz

Just dug out the blurb I got on account opening and I have got T&Cs:o .

You can certainly add to the account once open as you can fund the account by a transfer and/or a new deposit.

Nothing in there about the 31 May date and any transfer window, so hopefully Richchad's interpretation is correct.

I would ring to ask but I don't think my brain could stand it;) . Perhaps I'll check when I go back in April to add my £3.6k.

Richchad

derrick wrote: »

As this is a fixed rate term ISA, I would not think you could add to it once opened, hence the advice to top up an existing ISA before transferring!

I specifically asked this question when I opened my account and the guy went off to find out and came back with a definite 'yes you can'.

Reading through the T&Cs that were given to me when I opened the account I cannot find any mention for or against adding ISAs at a later date....

Purple_Peril

From the T&Cs

A. Your Fixed Rate Mini Cash ISA

1. Account Opening

3. You must open your FRISA product with a minimum deposit of £3000. This may be by transfer from and ISA product or products subscribed to in previous tax years (provided that if you transfer from another ISA you must complete the ISA transfer form as part of your application) and/or by making a new deposit through your branch, or in future you may be able to make a deposit by transferring money from certain other Lloyds TSB accounts through our Telephone Banking or Internet Banking services (if you have registered for them).

Printer

Hi just got my forms (came the next day!)...it asks how much do i want to transfer...well i want to transfer then whole amount but what about the interest due on the old isa account? Is that added and transfered also?

Richchad

Purple_Peril wrote: »

From the T&Cs

A. Your Fixed Rate Mini Cash ISA

1. Account Opening

3. You must open your FRISA product with a minimum deposit of £3000. This may be by transfer from and ISA product or products subscribed to in previous tax years (provided that if you transfer from another ISA you must complete the ISA transfer form as part of your application) and/or by making a new deposit through your branch, or in future you may be able to make a deposit by transferring money from certain other Lloyds TSB accounts through our Telephone Banking or Internet Banking services (if you have registered for them).

So what exactly does this mean....you have to transfer all your ISAs when opening the account and none later or are they saying you have to complete an ISA transfer as part of your application..and can make further transfers later as this is only referring to opening of the account not what you can do later?

Richchad

Printer wrote: »

Hi just got my forms (came the next day!)...it asks how much do i want to transfer...well i want to transfer then whole amount but what about the interest due on the old isa account? Is that added and transfered also?

Your old ISA provider should add the interest due up to the transfer out date, make sure there are no penalties for transferring out :eek:

Printer

Oh! forgot to check that.! Its a nationwide mini isa so dont think there is..

One thing i forgot.. recently moved and changed addresses on everything but my isa....i've phoned Nationwide and they say i have to go to branch to change it...Its miles away!!!!

On my transfer in form...if i put my old address down do you still thinki it will get transfered in...?

Richchad

Printer wrote: »

Oh! forgot to check that.! Its a nationwide mini isa so dont think there is..

One thing i forgot.. recently moved and changed addresses on everything but my isa....i've phoned Nationwide and they say i have to go to branch to change it...Its miles away!!!!

On my transfer in form...if i put my old address down do you still thinki it will get transfered in...?

Sounds a bit risky, they will probably write to you to confirm the transfer and tell you the balance...but to your old address, depends how important this is to you I guess? :rolleyes:

Printer

Ok i'll drive all the way over there on sat armed to the teeth with addresses and stuff.

So do nationwide impose a transfer penalty....i don't think they do ?

boobbby

Printer wrote: »

Ok i'll drive all the way over there on sat armed to the teeth with addresses and stuff.

So do nationwide impose a transfer penalty....i don't think they do ?

Why not just stay with Nationwide as you can get a fixed ISA for 6.15% and this can be for one or two years (only one year with Lloyds) You will only lose 0.35% on the first year but will probably be better off over two years. Seems a lot easier than transfering to a new bank :T

Bob