LloydsTSB Fixed rate Isa 6.5%

GoodRiddance

dreams_of_paradise wrote: »

Advice please.

I filled in the ISA transfer form on 3rd April. I am now wanting to put this year's allowance in. I can see the £0 balance online with Lloyds and I have yet to hear from Halifax that they have recieved my request to transfer.

Do I put the £3600 in the Halifax, Lloyds TSB or wait until the transfer is complete? Judging by some posts this could take a while.

I am in the same position. When you put the £3600 in you'll be on 5% fixed rate until the rest of the funds arrive to bump it over the £9k mark. As long as the rate does go up to 6.5%.

The 6.5% rate only lasts 12 months though and the bloke I spoke to at Lloyds said the 12 months starts when your transfer from the other bank arrives. Is it worth wasting a few weeks worth of your 6.5% and only be getting 5% during that time? If the £3600 is currently earning about 6% in a savings account you might as well wait right...

I think im going to wait so my account starts on 6.5% from the very beggining. Hopefully the ISA transfer is completed in the next week or so

5fEtsd9Hs1LOR3SQftY9

This morning I went into an empty Lloyds at 9.10 and I was out at 9.30. I planned to transfer £6300 from NS&I and then top up with this year's allowance. They needed to make 2 phone calls to Andover, and confirmed that I could do the top up at any before 31 May. So I plan to wait until I see the NS&I close on-line and then add this year's ISA allowance.

Interestingly they have had 150,000 accounts opened. If you guess the average amount might be £10,000 that is £1.5 american billions (What has happened to the English unit of a billion in financial circles?) As no more account applications will be accepted from the end of today LTSB cant be that desparate for money at 6.5%.

ericpode

What has happened to the English unit of a billion in financial circles?

"The 'American' system is now standard use in British government publications, and is becoming the norm in many other languages"

http://www.askoxford.com/asktheexperts/faq/aboutwords/billion?view=uk

5fEtsd9Hs1LOR3SQftY9

Thanks ericpode. That reference did not tell me who was responsible for this, so I tried Wikipedia to learn that it was another example of a labour Government trashing English/England. It was Harold wilson who in 1974 decided that governement statistics would henceforth be in the short scale Billion. I am glad to read that educated Inidans still use the long scale. Are we going to have to emigrate there to avoid the labour ravages?

whu

Be grateful if Goodriddance could clarify the following - if 6.5% (and 12 month period) starts when money transferred from other ISA then isnt it better to put this years allowance in now and get 5% on £3600 and then 6.5% on the total amount when transfer comes in rather than keeping the £3600 in a savings account and pay tax on interest?Also if 12 month period starts when money transferred from old ISA then you will not be waisting any of the 6.5%?
Thanks.

Gambler

what details do you need for the ISA you want to transfer?

Account number, sort code etc?

whu

yes - and if you are not a lloyds customer and doing transfer in branch take ID also (drivers licence,passport)

boobbby

Gambler wrote: »

what details do you need for the ISA you want to transfer?

Account number, sort code etc?

National Insurance reference number

whu

oh sorry I think you also need your NI number

codetown

Does anyone know how the online application (now available on the llloyds site) works? Do they give you a transfer form to fill in and post for trnsferring in funds?

Also: can anyone link (or send me via email) the .pdf with the T&C for this fixed rate ISA? I cannot seem to find them