LloydsTSB Fixed rate Isa 6.5%

dreamypuma

I'm getting quite sick of Lloyds. I applied for this account mid March, wanting to transfer £14.5k from Kent Reliance. I received a letter two weeks later advising me that they have now applied for the money from Kent. I haven't received any further correspondence from either party since.

My experience of Kent suggest that it isn't them that are delaying things. I suspect seen as it took two weeks for Lloyds to apply for the cash, it may be them.

Is there anyone else enduring a slow transfer between these two? Is there anything I can do to speed things up?

Gambler

I have been following this thread with interest for a while. I can see it's being pulled tomorrow so very tempted to go in to the branch but haven't got time to read all of the posts :eek:

What exactly will I need to take with me, need to get it ready tonight as will be nipping out of work at lunch time tomorrow.


Thanks

ffacoffipawb

Gambler wrote: »

I have been following this thread with interest for a while. I can see it's being pulled tomorrow so very tempted to go in to the branch but haven't got time to read all of the posts :eek:

What exactly will I need to take with me, need to get it ready tonight as will be nipping out of work at lunch time tomorrow.


Thanks

Web site still says available til 31/5/2008! Bit nasty not to update it. I'm already in, though! :T

exel1966

Common practice by most banks/building societies to pull oversubscribed offers without any notice whatsoever, particularly when it comes to Regular Savings Accounts/ISA's and Term Bonds.
These type of accounts are generally 'loss leaders' there to entice savers in to hopefully get them to sign up to other accounts/insurances etc. Of course those who read MSE regularly will know not to fall for such antics and only sign up for the account they really want !

6022tivo

Gambler wrote: »

I have been following this thread with interest for a while. I can see it's being pulled tomorrow so very tempted to go in to the branch but haven't got time to read all of the posts :eek:

What exactly will I need to take with me, need to get it ready tonight as will be nipping out of work at lunch time tomorrow.


Thanks

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

adrian2000

I took this ISA out yesterday at my local branch. I am no longer a customer of Lloyds TSB, but had been previously. All I needed was my National Insurance number. I opened the account up with £40 and then today deposited a cheque up to the maximum of £3600. I was told that the rate was 6.5% Fixed, but if I paid any money in after the closing date which is Saturday, (if your branch is open) you would get a variable rate instead of the fixed rate. You could make a deposit to the account if you did not have the funds straight away, after opening the account, but if you did after Saturday then you would get a variable rate instead of the fixed rate. Also you can take you money out at any time, but loose 90 days interest on the amount that you take out.

Hope this helps.

Adrian

exel1966

They operate a tiered rate of -

£0000-£2999 @ 0%
£3000 - £5999 @ 5.00%
£6000 - £8999 @ 5.15%
£9000 and above @ 6.5%

Therefore anyone transferring from two or more different ISA's are likely to be at a lower rate for a few days/ a week or two initially until such time their previous ISA manager dispatches the cheque to LLoyds and they have cleared it.

Joe65_2

adrian2000 wrote: »

I took this ISA out yesterday at .....................maximum of £3600. I was told that the rate was 6.5% Fixed, but if I paid any money in after the closing date which is Saturday, (if your branch is open) you would get a variable rate instead of the fixed rate. You could make a deposit to the account if you did not have the funds straight away, after opening the account, but if you did after Saturday then you would get a variable rate instead of the fixed rate. Also you ......................you take out.

Hope this helps.

Adrian

That does seem to be at odds with what most of us have been getting told, an' I'm counting on it being wrong - none of the Transfers from any opened this week for instance, are going to be in by Saturday ).
However, inconsistency is the small price we have to pay for the pleasure of still being able to deal with people , at a Branch.
Maybe I'll just drop the 3,600 in tomorrow 'though, as you've got me worried now...

glossgal

I'm hoping this is wrong too as I'm not prepared to deposit this years allowance till my transfer goes through ok!

Terms and conditions state:
"we can change any term of this agreement other than the fixed rate period or the fixed rate of interest during that period"

exel1966

T&C FRISA condition 3 states :-

'you must open your FRISA account with a minimum deposit of £3000. This may be by transfer from an ISA product or products subscribed to in previous tax years providing you complete the ISA transfer form as part of your application'