LloydsTSB Fixed rate Isa 6.5%

p1an0player

I've read a few pages (but not everything); if I understand correctly, people were getting paying-in books, therefore it's possible to drip feed into the account even after it's no longer open to new customers?

As there is a sort code & a/c number, people can do BACS transfers into the account throughout 2008 and Lloyds couldn't really reject them (unless the £3,600 had been reached)?

Joe65_2

Paying -In Books ?
They only gave me a printout of my completed Application form - an' a gie' dodgy one at that , with the toner all smudging - saying that's all there was.
One half of each page is barely readable - Why do banks never seem to have a decent printer ?
The Transfer forms they gave to me to complete and send to my old providers' though the Form clearly states ' under no circumstances to be sent to existing ISA providers'. So I'm wondering whwer to send it now.?

Other than that the guy was great... Think I'll try dropping the forms into Branch tomorrow - (an' save on the postage to ISA Central)

LankyMoneySaver

Joe65 wrote: »

Paying -In Books ?

Yep, came through the post a week or so after I opened mine. They also did the transfer form for me.

Joe65_2

As I'm only putting Old Money in this FRISA, does that leave me Free to Put this Years Subscription (3600) anywhere else ?

Despite declaring in my Application that:-

I apply to subscribe for a Lloyds Cash ISA for this tax year...

and

I haven't subscribed & will not subscribe to another Cash ISA in the same tax year that I subscibe to this Cash ISA

and the 'Important Information' on the Website stating:-

You cann't open a FRISA where you have already opened OR contributed to a Cash ISA (held either with us or another provider) in the same tax year (unless you transfer the whole account into this one).

The chap in the Branch seemed pretty laid back about it, just saying no problem.

As I only went for this one to get a better rate for the Old Money I'd rather not have to tie up any more, in this particular account 'though, just to use this years allowance.

What's the prevailing view on this ... ?

zzzLazyDaisy

Just reporting on my experience of opening this ISA today for 2008/9, which was excellent.

Very knowledgeable and efficient lady dealt with my application with the minimum of fuss. I was transferring in from three different providers plus putting in this years allowance.

She told me that the requests would go off today but it can take weeks for some providers to process the request. However the old provider will pay interest until the transfer date, and LTSB backdate interest to that date, so any delays in the pipeline won't result in loss of interest.

She also confirmed that although the deadline for opening the account is soon (she did say but I can't remember) once the account is open further transfers/top-ups are allowed. I have a fixed rate ISA with another provider that matures in August and I can then transfer it into this account.

This is great for me - I have been meaning to put all my ISA's together for years!!! :T

central

Just for clarification I did a bacs transfer from a non lloydstsb account with no problem, took 4 working days

MrSafeGaz

I opened one of these with no problems last week. My only issue with it is that it is not actually a 12 month fixed rate 6.5%, it's more like 11 months. Since you have to transfer money in from elsewhere to get this rate and that takes 30 days+, you don't get the interest backdated to account opening.

debbie42

Joe65 wrote: »

The Transfer forms they gave to me to complete and send to my old providers' though the Form clearly states ' under no circumstances to be sent to existing ISA providers'. So I'm wondering whwer to send it now.?

I didn't have these transfer forms at all. The assistant filled them in and kept them. Like you, I had no book either, just a printed form with sort code and account number. My branch had a decent printer too!

nordberg

MrSafeGaz wrote: »

I opened one of these with no problems last week. My only issue with it is that it is not actually a 12 month fixed rate 6.5%, it's more like 11 months. Since you have to transfer money in from elsewhere to get this rate and that takes 30 days+, you don't get the interest backdated to account opening.

That's not what I, and many others on this thread, have been told and it goes against ISAs in general. Are you sure about this? I was told in no uncertain terms that the interest is back-dated.

KTF

I thought it was backdated to the date on the cheque that was sent and not to the date that the account was opened?