LloydsTSB Fixed rate Isa 6.5%

boobbby

john.xs wrote: »

chris that lloyds 6.6% ia a fixed isa and as far as i am aware once you have transferred in your money you cannot pay any more money into it.thats what we were told in wigan branch anyway!

Many people are adding to their ISA using next years allowance to get their fund over £9000 and receive the 6.5%. Might be worth a further check with the Wigan branch

maypole

boobbby wrote: »

Many people are adding to their ISA using next years allowance to get their fund over £9000 and receive the 6.5%. Might be worth a further check with the Wigan branch

I transferred more than £9000 and I was told I could put my new allowance in after the 6th April for new tax year £3600 and the ISA is apparently available until sometime in May.

Sometimes the staff are not quite up to speed;)

boobbby

maypole wrote: »

I transferred more than £9000 and I was told I could put my new allowance in after the 6th April for new tax year £3600 and the ISA is apparently available until sometime in May.

Sometimes the staff are not quite up to speed;)

As we can only pay into one ISA a year your answer begs the question "what if we only put in say £500 up until May, CAN we continue to add to this ISA after May" to make full use of our allowance of £3600. Remember we cant transfer the ISA to another provider without losing 90 days interest.

Eager_Saver

boobbby wrote: »

So you opened the account with £3000 as you had not put any money into any other ISA this year . Then after April 6th you will add another £3000+. After that you have arranged for further funds to be transfered into your account so that it will be over £9000. Once transfered money has been entered into your account you will then get the 6.5% but only from the day it is in yout account and not from the 6th April. Is that how you understood it will happen?

Nope I transferred £6000 of my current ISA to Lloyds and the lady said interest will start on the date of my application.

Although I just realised that there was a mix-up with my current ISA account number and it's not going to happen as smoothly as I would have wanted

john.xs

i am under the impression that you had to transfer in 9000 + to get the 6.5% and that you cant add to it
i was told by tsb person to add to my current ybs isa 0n 7th april and then transfer the lot over to lloyds tsb at that point.
im confused

surfcat

Eager_Saver wrote: »

Nope I transferred £6000 of my current ISA to Lloyds and the lady said interest will start on the date of my application.

Although I just realised that there was a mix-up with my current ISA account number and it's not going to happen as smoothly as I would have wanted

The lady can say what she likes. It's in b&w in the terms and conditions that the FRISA starts from the date of your initial deposit. Thus if your initial deposit is purely by transferring in I cannot see how they can get around that!

surfcat

we should keep this thread running for 12 months to remind ourselves to show them the t&cs when they inevitably !!!!-up the interest payments.

roddydogs

surfcat wrote: »

But term A1.2 says, "your FRISA will start from the date of your first deposit....."

thanks, hope so again some people have been told dfferent things!

hereford_2

I got a letter dated 6th March stating my Lloyds ISA acount was open.

I just got a statement today for my Barclays Tax Beater ISA which I was transfering showing it is still open and now paying a reduced rate.

Do I get compensation for this?

Anyone successfully transfered from LTSB to Barclays yet?

Purple_Peril

I have tried to contact LTSB with regard to the backdated interest. They have sent me a letter confirming the amount of the transfer (the same amount as my previous provider gave) and that they have paid it into my ISA.

They state "We have also increased the interest on your ISA by £xx.xx. This amount is for 8 days interest earned from the date your ISA was transferred to today. This will be reflected on your accounta s part of your next interest payment."

BUT: the amount they quote is (by my calculations) only 7 days interest - and I cannot get through to anybody who is able to explain to me how they arrived at this figure (over £5 less than the figure I reckon it should be). They said that they would ask somebody to call me back - that was yesterday lunchtime and I'm still waiting.

Just out of interest: my previous provider (Kent Reliance BS) sent a letter on 10 March advising that the money had been sent to LTSB, and the letter from LTSB confirming receipt and backdated interest is dated 18 March - which implies that it is backdated to the date of issue of the transfer cheque, not the date of receipt.

I am about to write to LTSB to query the interest calculation, and I shall let you what they say - when I eventually receive a reply!