LloydsTSB Fixed rate Isa 6.5%

wearside_2

I opened my FRISA with Lloyds on 3 March. I completed the relevant forms to transfer £9K+ from the Kent and was advised that someone would call me the following week to confirm that the account was open and the funds received:rotfl:needless to say no one telephoned as the funds did not leave the Kent until 26 March. I telephoned yesterday and was cut off after 20 minutes of trying in vain to find out what was happening:mad:. I went in to the branch today and spoke to a woman. She said that the funds from the Kent should by now be in my account and as they were not, she went to see the manager:eek:. When she came back she said that they could not locate them in their internal mail as they had received quite a few applications. She said that she would look further and telephone me. She has just done that to say that the Kent take a week to actually get the funds to the next provider but I will not loose any interest:T.

I await with baited breath to actually seeing my account open and some figures in the balance column. In the meantime, she said I could pay another £3600 in on Monday:D

derrick

There seems to be a lot of controversy over when the ISA is opened and when the interest is paid from! Does any one actually have the T&Cs that they can post?

It would appear that unless you already have an account with them, they will only give out info if you go into the branch,( and that info seems to be hit and miss), or phone them on their 0845 number, but you will only get verbal unconfirmed tales, i.e not written!

Here is the info from the booklet given to me in branch; -


Interest rate fixed for a year, guaranteed on minimum of £3,000.
Tiered interest - the more you save, the more you earn.
Account becomes a standard variable Mini Cash ISA after 12 months.


Open
Available between 1 February and 31 May this year, our new Fixed Rate Cash ISA is easy to open - visit one of our branches or call 0845 730 1400 to apply. Just remember to have your National Insurance number to hand. To open this account you must pay in a minimum deposit of £3,000, but you can also transfer balances from other ISAs when you open your account to make the most of the fixed interest rates.
To get a better interest rate on your Fixed Rate Cash ISA, you can transfer balances from ISAs you've subscribed to in previous tax years, even if they're with another company (ISA provider), so speak to us about arranging a transfer when you apply.
If you open a Fixed Rate Cash ISA with your 2007/2008 ISA allowance you can also pay in your 2008/2009 allowance after 6 April, which can be up to £3,600.

Withdraw
We don't encourage withdrawals on this account. Though they are possible, any withdrawal within the 12 month fixed period will mean the loss of 90 days' interest on your entire balance. If your balance drops below £3,000 you will not receive interest on your account. If you want to make a withdrawal (this must be at least £10) just visit us in any branch, call us on 0845 3 000 000 or set up a transfer through Internet banking. If you make a withdrawal from a branch and you don't want to take out cash or make a transfer you can ask us to write you a cheque, subject to a fee which is currently £20.
Please remember that money you withdraw from a Cash ISA cannot be replaced. So even if you make a withdrawal you are still only allowed to pay in a maximum of £3,000 in the 2007/2008 tax year (and £3,600 in the 2008/2009 tax year).
Interest
Interest is calculated on a daily basis and paid within 30 days of your fixed rate period ending. You'll continue to receive interest on your account as long as your balance stays at £3,000 or more.
To check the interest rates on this account call our Interest Rate Helpline on 0845 300 0032 (lines open 8am to 9pm Monday to Friday and 9am to 5pm Saturdays and Sundays), go to www.lloydstsb.com or visit any branch.


The first part I have highlighted in red could be read as "open with £3000. and ALSO transfer from other ISAs ! " so can you actually open it with a transfer? or do you need to deposit £3000. effectively opening the account there and then?

Also note that if the balance does fall below £3000. you will receive no interest on the account! and interest will be "paid within 30 days of your fixed rate period ending."

So it looks like a 13 month account as far as the interest is concerned ! how will that work if transferring at the end of the 12 month fixed term?

KTF

I opened mine with a zero balance and am in the process of transferring 2x ISAs into it to bring it above 9k. On Monday I will pay in another 3.6k so that this years allowance is in there as well.

bristolleedsfan

hereford wrote: »

I
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.


Anyone successfully transfered from LTSB to Barclays yet?

U mean from Barclays to LTSB.

My transfer from Barclays to Nationwide was completed within 3 weeks which shows that Barclays are up to speed on ISA transfers.

U might like to note that the Interest Rate shown on the Barclays Statement doesnt include the 1% bonus, if u are entitled to it then u should add it on.

wiimad

Today i walked into my local Lloyds tsb branch to open the isa account.I wanted to transfer 4 seperate ISA accounts over at a total of about 15k( enough for the £9000) minimum for 6.5% rate.I also wanted to open a 08/09 ISA with savings of £3600 and transfer my 07/08 fixed rate ISA on 19th april when it pays interest for the year. The Lloyds tsb advisor explained the best thing to do would be to open a standard variable lloyds tsb ISA currently at 5.15% and then arrange for another day for me to pop into the branch "say 15th April and deposit the £3600 for 08/09 ISA and also transfer the 07/08 ISA when its ends on 19th of April and then transfer the whole account over to the 6.5%. Does this seem the right approach, as i agreed at the time but now wonder why the 6.5% could of not started straight away??.Any comments thanks?

By the way they didnt try and sell me anything,Cannot believe it! didnt even ask about morgage or savings

boobbby

My ISA transfer from Halifax to Lloyds took 30 days and as it was only a partial transfer I did not have any interest paid into Lloyds. (I presume the interest calculated daily for 07/08 will be added to the money left with the Halifax) The wifes Isa from Intelligent Finance to Alliance and Leicester took 25 days but this time as the interest had been added monthly all her fund including interest is in the new account. Just now a matter of chasing up both transfers for anything owed whilst the funds where in transit. By the way is so simple to do the transfer to Alliance and Leicester as you can open the new ISA over the Internet and next day they email you the account number. It is just a matter of filling in their simple transfer form which can be downloaded from the A&L site on the Internet and sending it to your old ISA provider. Thats it !! No phone calls ..no visits to a branch...why cant all providers operate this way!

[Deleted User]

I went into the branch today. 30 minutes for them to say that I couldn't open an account because I don't have a valid passport or driving licence. Where can I check what other documents I can provide as proof. The girl I saw whizzed through a list on her computer, but didn't say what they all were. Otherwise I'm 80 quid worse off if I go through Abbey at 6.25%.

Can anyone help? Thanks in advance
Hiphouse

KTF

You can use the following documents as proof of identity:

• UK/EEA/EU passport
• UK/EEA/EU photo driving licence. Driving licences that do not have a photo are not acceptable
• EU/EEA National Identity Card
• Northern Ireland Voters Card
• Young Scot Card (under 18s only) - this can be accepted at all branches
• Firearms or shotgun licence

If you cannot provide one of the above, you will need to produce one document as proof of your identity and an additional document as proof of your address as follows:

Proof of identity:

• State pension notification letter
• Current UK non photo driving licence
• Blue disabled drivers pass
• All other current signed passports with valid UK Visa not listed above

Proof of address:

• Non-Lloyds TSB bank, credit card or building society statement (we do not accept statements printed off the internet)
• Current UK driving licence (only if it is not been used as your proof of identification)
• Utility bill dated within the last 3 months
• Local authority tax bill/council tax bill for current year
• Benefits or pensions notification letter confirming the right to benefit (only if it has not been used as your proof of identification)

From: http://www.lloydstsb.com/stand_alone/proof_id.asp

ffacoffipawb

Yay!

My YBS E-ISA which was closed to transfer to this 6.5% product on the 19th March (two days before Good Friday) has appeared in my Lloyds ISA today, 1st April.

I make that 13 days in the ether earning no interest, which reduces my 6.50% to an effective 6.28% unless Lloyds backdate the interest.

YBS did this by having the transfer in from Halifax backdated to the date the money left the Halifax. Lloyds haven't done this though as the credit is showing with a date of 01-04-2008. Still, at least the money has arrived!

Just in time to add £3,600 next Monday!

Dopple

Due to work I can only get to my local branch on Wednesdays.
Will they accept a cheque for £3,600 tomorrow and bank it on the 6th, or
will I have to wait until the following Wednesday to give them the cheque?