LloydsTSB Fixed rate Isa 6.5%

bristolleedsfan

maypole wrote: »

Same here, I think it takes up to 28 days to be transferred, i trust we don't lose any interest! Mine is coming from Bradford and Bingley.

Has been posted earlier in the thread that LloydsTSB have backdated interest automatically to ensure that no loss of interest is incurred while the transfer cheque (s) have been in transit and banked.

derrick

bristolleedsfan wrote: »

Has been posted earlier in the thread that LloydsTSB have backdated interest automatically to ensure that no loss of interest is incurred while the transfer cheque (s) have been in transit and banked.

Spoke to an adviser in my local branch yesterday, and was told that interest will be payable from day of receipt of cheque, no interest backdated to day of previous bank sending cheque, although she did say that monies are sent electronically? never heard of that happening with ISA's before!

I tried to point her in the direction of this thread, but she said she only goes on personal experience and not what other people say!

johnmoney05

johnmoney05 wrote: »

Emailed Eric Daniels this morning at 8:50am. Received a phone call at 11:20am. Promised that would look at the case. Rubbish.

He did mention that a letter had already been sent out on 25 Mar.

By the way, no mention of any compensation.

I will see when the term of this ISA end. There will be another problem to transfer out.
I really want to stop this transfer. But my old cash isa has been closed already.

Oh, well. Got another phone call today at 2:40pm. They have received the cheque from Kent RBS on 4 Mar. For some reason, they said my current address with LTSB is overseas which I lived more than 8 years ago. Not matching with the one in Kent RBS. So they returned the cheque back to Kent R BS on 17 Mar 08. Now they are requesting the cheque back again from Kent RBS.

What a mess! I asked why there was no response at all from my complaints. His answer, he didn't know. I asked why my address with LTSB changed to my oversea address which I lived more than 8 years ago. His answer, he didn't know.

So I asked what I need to do now? He said "no, you don't need to do anything, we will sort this out for you.Then the money will be in your account."

I said "I want to take this matter further, would you please let me know who I should contact next.". He said "we discuss this once your problem is sorted." Ok, I will wait and see. Probably another month.

bristolleedsfan

derrick wrote: »

but she said she only goes on personal experience and not what other people say!

My post no 316 quotes peoples posted "personal experiences."

johnmoney05

derrick wrote: »

Spoke to an adviser in my local branch yesterday, and was told that interest will be payable from day of receipt of cheque, no interest backdated to day of previous bank sending cheque, although she did say that monies are sent electronically? never heard of that happening with ISA's before!

I tried to point her in the direction of this thread, but she said she only goes on personal experience and not what other people say!

Kent RBS sent a cheque to LTSB in my case. To my experience, they all are using cheque. Maybe you can tell her, my case is very personal experience.

johnmoney05

bristolleedsfan wrote: »

Lloyds TSB Eric Daniels Chief Executive [EMAIL="eric.daniels@lloydstsb.co.uk"]eric.daniels@lloydstsb.co.uk[/EMAIL]

Have to thank bristolleedsfan. It did get their reply much faster by writting to their CE. At least somebody did talk to you about your case, rather than refer you to the T&Cs.

Wasted my 3 hours phone calls, 2 long letters and one email. I will send them a bill! :mad:

snarffie

snarffie wrote: »

AAARrrrrgggghhhh!!

Just noticed that my DOB is wrong on my ISA application form! AND they ticked a box for lump sum, as well as transfer (I only wanted to transfer).

I'm normally pretty carefull at checking forms before signing them too. The advisor at the branch DID make a lot of spelling errors on the computer while setting up the forms though, so missing a few is not so surprising.

Ah hell, I'll have to pop into the branch again tomorrow (if they're open).

This is going to be messy....:think:

UPDATE:

I went into my local branch yeasterday to ask if I need to make another application. Spoke to the same 'accounts opener' person who originally filled in my forms. She changed my DOB online, and told me that there is no problem with my application as the forms would have been rejected within a week.

I asked why neither of the two transfers had been made into my new Lloyds FRISA, and she said that there is a 35 day waiting time after the date of opening before the Lloyds isa team will even answer a query on my isa. She confirmed this with her manager who also said that there would be no point in ringing the isa team before the 35 day period. I assume that this is 30 days + a bit of leeway for each party involved, which seems sensible.

To be fair, they seem pretty competent, so I'll give them the benefit of the doubt for now.

On day 36 though, I will be first at the door if there is no progress.

bristolleedsfan

snarffie wrote: »

she said that there is a 35 day waiting time after the date of opening before the Lloyds isa team will even answer a query on my isa. She confirmed this with her manager who also said that there would be no point in ringing the isa team before the 35 day period. I assume that this is 30 days + a bit of leeway for each party involved, which seems sensible.

The " 30 day" timescale is a statutory maximum period for ISA Providers to transfer out an ISA.

LloydsTSB stated from your experience "35 day" waiting time is a little bit like quidco putting enquiries on ice for two weeks, the logic being that many matters sort themselves out without a query and if an ISA team spend x amount of hours dealing with queries their account processing work will merely get more and more backlogged leading to more and more queries.

Fella

snarffie wrote: »

I asked why neither of the two transfers had been made into my new Lloyds FRISA, and she said that there is a 35 day waiting time after the date of opening before the Lloyds isa team will even answer a query on my isa.

LOL, they make it up as they go along. I've been assured by two different people that the reason my transfer hasn't happened is "because it's illegal for the transfer to happen for 30 days". When I pointed out to them that they're talking gibberish & what they probably mean is that the existing ISA provider must process the transfer out within 30 days I just got met with blank looks. When I asked exactly what that had to do with it anyway, since they still haven't CONTACTED my existing ISA provider, the looks got blanker still.

This is stuff that anyone on this forum could tell them. They do it for a living & don't have a clue.

Have been caught up in a comms room for the last two weeks but am intending to visit a branch & sort this out one way or the other on Monday.

snarffie

bristolleedsfan wrote: »

The " 30 day" timescale is a statutory maximum period for ISA Providers to transfer out an ISA.

LloydsTSB stated from your experience "35 day" waiting time is a little bit like quidco putting enquiries on ice for two weeks, the logic being that many matters sort themselves out without a query and if an ISA team spend x amount of hours dealing with queries their account processing work will merely get more and more backlogged leading to more and more queries.

Exactly. A pretty sensible measure really. It would be nice if they can get it sorted within the statutory period though, so I can forget about it until 2009.

BTW, the advisor told me that interest will be backdated to the application date. We'll see.

Fella wrote: »

....When I asked exactly what that had to do with it anyway, since they still haven't CONTACTED my existing ISA provider, the looks got blanker still.......

Like I said before, the people in my branch understand their ISA product, and are pretty switched on, so full marks to them.

I just hope that the people at Llloyds' ISA HQ are as efficient!