LloydsTSB Fixed rate Isa 6.5%

Judwin

chr_is wrote: »

Also any success stories ? Anyone got their Lloyds ISA and transfers done ? If so who were you with and how long did it take from day of opening til money appearing in Lloyds ?

Yup. Mine's up and running.

12 Feb : Applied in Lloyds branch for transfer in from Abbey
13 Feb : Account shows on online banking with nill balance
23 Feb : Letter from Abbey stating account closed and transfered to Lloyds
06 Mar : Funds appear in online banking
09 Mar : Letter from Lloyds confirming backdated interest

So it looks like you need to allow 4 weeks for the transfer to happen. However, all is not well. Full story back in post #157 of this thread.

Cheers,
Judwin

roddydogs

More than 1 month, and still waiting. The "financial adviser" gave me a mobile phone no "Just call me if you get any problems"
Guess what-it just goes to answerphone, and she never calls back!

Fella

Myself & G/F both transferred into the Lloyds FRISA. Story so far:

G/F
Applied 7th Feb
Received letter about 3 weeks later. Took passbook to old provider
Received passbook marked cancelled on 7th March
Still has zero balance on Lloyds ISA

Me
Applied 7th Feb
Didn't hear anything for one month. Rang & wasn't called back. Visited branch & wasn't contacted back. Rang again & finally got told my original paperwork had gone missing & they'd have to redo it.
As of today, still haven't been contacted by my existing provider to say they've heard anything from Lloyds.

Leaving aside for a second my unprintable thoughts about this amateurish bunch of ****s, does anyone know what the position is regarding my G/Fs ISA, which at the moment seems likely to have lost a minimum of 13 days interest. Are Lloyds obliged to backdate the new ISA to the date the old one closed / can they be forced to do so? Or is it just tough?



Thanks
Fella

Edit: GF just rang them. Was told to ring the branch. Rang them. Was told to ring the ISA people. Rang them. Was told to ring the branch. Rang them. Got through to someone who didn't understand the first thing about ISAs & told my G/F "someone will ring you back today if they have time".

Absolute joke scum organization. Can't believe it's not better known that Lloyds are so appallingly bad. Will go out of my way to warn everyone I know off this bunch from now on.

Melodyx

I'm a bit confused now. There's talk here of needing £9,000 to open this fixed rate ISA, but on the LloydsTSB website it says you can open one with £3,000 ? I've only got £3,000 and it's my first ever ISA so I don't have anything to transfer. Also anyone know when deadline is for setting one up to benefit from this year's allowance? Thanks

Fella

Melodyx wrote: »

I'm a bit confused now. There's talk here of needing £9,000 to open this fixed rate ISA, but on the LloydsTSB website it says you can open one with £3,000 ? I've only got £3,000 and it's my first ever ISA so I don't have anything to transfer. Also anyone know when deadline is for setting one up to benefit from this year's allowance? Thanks

You can transfer (only) £3,000 but you only get the high rate of interest if you have a minimum of £9,000.

Avoid them at all costs, they're a disgrace.

Melodyx

Can you suggest a good alternative? I was looking at IceSave but reading the posts on here there are lots of problems and delays with setting those up too. Could it be that the downside of choosing one of the best rates is that you don't get the service? With regards to my question about Lloyds, what is the interest rate on £3,000?

johnmoney05

Fella wrote: »

does anyone know what the position is regarding my G/Fs ISA, which at the moment seems likely to have lost a minimum of 13 days interest. Are Lloyds obliged to backdate the new ISA to the date the old one closed / can they be forced to do so? Or is it just tough?

1. I was told by Lloyds TSB they would take 5 weeks after receiving the money from the old ISA to credit to new account.

2. Financial Ombudsman told me that there should not be any single day lossing interest. If it happened, you could make a complaint to the bank then to them.

johnmoney05

Melodyx wrote: »

Can you suggest a good alternative? I was looking at IceSave but reading the posts on here there are lots of problems and delays with setting those up too. Could it be that the downside of choosing one of the best rates is that you don't get the service? With regards to my question about Lloyds, what is the interest rate on £3,000?

You need to do a search according to your needs.
But if you only want to deposit £3000 for this year cash isa. You certainly should not pick LTSB.

You can consider BARCLAYS BANK - Tax Haven ISA which is paying 6.5%.

And you need to be quick to make use of this year allowance before April.

roddydogs

Too add insult to injury their now advertising it on TV, when they obviously cant cope at present. I agree with Fella, its a shambles.

Fella

roddydogs wrote: »

Too add insult to injury their now advertising it on TV, when they obviously cant cope at present. I agree with Fella, its a shambles.

I think Lloyds have produced an headline-grabbing product that will appeal specifically to those with a minimum of £9,000 & probably a lot more. They then set the conditions of that account that new customers can ONLY apply in branch. They then try their damndest to sell their crappy investment products to everyone who applies, whilst they have them captive within the branch.

Edit: I truly wonder whether they have a lone 16-year-old YTS kid staring at 20 sacks full of applications. I'm sure they would never consider adopting such an approach, since that would reduce the the time they have to actually pay out the rate they advertise.


I haven't even been able to transfer IN yet & I already can't wait to transfer OUT & never use Lloyds again.