LloydsTSB Fixed rate Isa 6.5%

ffacoffipawb

Richchad wrote: »

It would appear you can only transfer in if you have a Lloyds current account, I don't and have just looked as I want to top up for next tax year tomorrow and there doesn't seem to be any facility to do this

So looks like either post a cheque or visit my branch to pay in a cheque I guess, this has been one of the most difficult ISA accounts I have ever had to open, transfer in and deposit new money into, I wonder what it will be like in a year when we all want to transfer out. :eek:

What about a BACS transfer from another bank account? Your FRISA has a sort code and account number, so I don't see a problem doing it that way.

Richchad

ffacoffipawb wrote: »

What about a BACS transfer from another bank account? Your FRISA has a sort code and account number, so I don't see a problem doing it that way.

You may be right....can someone try it please and see if it works..

Pity they don't mention anything about that when you are logged in to your account .

boobbby

Richchad wrote: »

You may be right....can someone try it please and see if it works..

Pity they don't mention anything about that when you are logged in to your account .

I have always used BACS for all my ISA payments to many different accounts. Providing you have the sort code, account number and and ISA reference number you should be okay. Mind because I am a careful sort I make a small transfer first of about £10 and see how that goes before I make the full deposit.

Richchad

boobbby wrote: »

I have always used BACS for all my ISA payments to many different accounts. Providing you have the sort code, account number and and ISA reference number you should be okay. Mind because I am a careful sort I make a small transfer first of about £10 and see how that goes before I make the full deposit.

Boobbby I have transferred lots of savings accounts via BACS, and like you moved £10 first to make sure all is well, (isn't it a shame we have to think like this) but have never done it with an ISA, I suppose I am worried about losing the tax free status, but thinking about it, you can only do that if you were to transfer out with BACs not in.

MiserlyMartin

I've read the T's and C's of this ISa and it seems to say that you can only pay in from another Lloyds account. But you can pay in via a branch. So I'm going to a branch to give them a cheque tomorrow. I figure its quicker than trying to do a BACS transfer and then finding that it won't go through and losing even more days interest.

BTW I decided to take the plunge and use Lloyds for this years money. I'll just be ready to transfer out in full again in Feb when the 12 month period is up. At least the 6.5% fixed will compensate partly for all this loss of interest through lack of backdating of other ISA transfers into the Lloyds ISA. Especially if BOE lowers rates on Thursday.( though I doubt it)

altyfc

If you have £6000 (plus a bit of interest) in an existing ISA and £3000 that you wish to add for this tax year, will this count for the £9000+....? (or do you have to already have £3000 in accrued funds?)

I have a Barclays ISA with £6k in it, and I would sooner open a new account and then transfer, than add £3k to that account and then transfer (knowing how long it took Barclays to bank my cheque last time around).

Thanks.

boobbby

Richchad wrote: »

Boobbby I have transferred lots of savings accounts via BACS, and like you moved £10 first to make sure all is well, (isn't it a shame we have to think like this) but have never done it with an ISA, I suppose I am worried about losing the tax free status, but thinking about it, you can only do that if you were to transfer out with BACs not in.

I have only paid into ISA's using BACs and never out. I would only transfer from one ISA to another (so as not to lose the tax free status) using both providers to make the transfer but not using BACs. Money taken out for spending cant be replaced once your annual allowance has been used so no need to worry about the tax free status of this money.

boobbby

altyfc wrote: »

If you have £6000 (plus a bit of interest) in an existing ISA and £3000 that you wish to add for this tax year, will this count for the £9000+....? (or do you have to already have £3000 in accrued funds?)

I have a Barclays ISA with £6k in it, and I would sooner open a new account and then transfer, than add £3k to that account and then transfer (knowing how long it took Barclays to bank my cheque last time around).

Thanks.

Looks like you only get a miserable 4.26% on your £6000 in Barclays and to begin you will get 5% with your £3000+ in lloyds and then 6.5% when the other money arrives and you go over £9000

beansy

cjsc wrote: »

HI,
I'm after some advice please. I have used my full allowance for 2007/2008 in my Nationwide cash ISA and want to transfer some of it, along with previous year's money to Lloyds TSB.(whilst leaving a small amount in Nationwide). TSB can open a FRISA account for me immediately i.e. still in this tax year. Does this mean I will then be able to use my Nationwide ISA to continue adding small monthly amounts for 2008/2009? (I wont be adding any more to the TSB one.)

Did you know that if you have banked with Nationwide for 3 yrs (I think) you can have their ISA members Bond which is the same as an ordinary ISA but it pays a slightly higher rate of interest. They are currently advertising an ISA 1 yr fixed rate Bond at 6.15% which isn't bad.

This has been available since last year but only just spotted it, so arranging to transfer our Nwide ISA Bond's into this fixed rate one.

boobbby

beansy wrote: »

Did you know that if you have banked with Nationwide for 3 yrs (I think) you can have their ISA members Bond which is the same as an ordinary ISA but it pays a slightly higher rate of interest. They are currently advertising an ISA 1 yr fixed rate Bond at 6.15% which isn't bad.

This has been available since last year but only just spotted it, so arranging to transfer our Nwide ISA Bond's into this fixed rate one.

A Nationwide members ISA bond (5.3%) and a fixed ISA bond 6.15% for one or 2 years. Whilst you do not need to be a member to take out the fixed nationwide ISA bond why not transfer to a one year fixed ISA with Lloyds paying 6.5% if you have over £9000. You can't add to the Nationwide Bond but you can up to £3200 with the Lloyds