LloydsTSB Fixed rate Isa 6.5%

6022tivo

boobbby wrote: »

Not all branches have a FA

I picked our local little branch, manager sorted me out.

He was asking about the forum, in response to the over subscription. I mentioned that some people have had to see FA's and make appointments, and received a little hastle about other products... He was disapointed that some people may of been upset, and said that all managers have target points to get for each day/week.

He said when my transfer comes into the branch (£30k) he would of nearly met his target points for the day, so he was greatful I came into his little branch and was fine with the ISA and was open about me calling him personally in the future if I was considering any further accounts or business.

I asked about his points and targets and like any other business they have targets and different products offer different target points, a insurance sale is good etc...

I was going to post, but it is now to late, about going into your local branch rather than doing it online, so it may help the branch stay open longer.

sloughflint

steveh2001 wrote: »

I received confirmation of the transfer today (request put in 2 weeks ago) - has any one recieved confirmation of the backdated interest without specifically requesting it?

Thanks

No. Only verbal but I don't trust anything LloydsTSB staff have to say after so much ineptitude that I've encountered.

Letter on its way to Lloyds regarding internal transfer from variable rate to fixed and potential loss of interest. Variable account closed on 4th but fixed account funded on 11th.
{EDIT:I missed this post before:

Careful_ly wrote:

You will have some interest added from the date that they got your cheque to the date that it shows credited, this cannot be seen by you on internet banking but can be seen by their staff.

So thanks for this.It would save the bank a lot of hassle if they made that information available on internet banking. I'm sure they will be receiving a lot of queries.}

I'm also questioning the commencement of the 12 month period. ( T&Cs: your FRISA will start from the date of your first deposit..........staff state from date of application.) My understanding is the same as Ian W in post 686:

But an ISA isn't opened until it's funded according to HMRC - see HMRC ISA Managers Guidance Notes 2008 - specifically:
5.3 An ISA begins from the later of
• the date on which the ISA manager accepts the application form, and
• the date on which the subscription is made

I'll report back what response I receive from them about this.

MONEYPENNY

redcar wrote: »

When I opened mine I was only going to put in £10 for the new allowance as I didn't want all the new money sitting at the low rate until the transfer came over. The person I dealt with went off to check with someone else and said the £3.6k would get 6.5% from the day of opening if a transfer form to bring it over £9k was completed on the same day. I'll be a bit !!!!!! off if thats not the case although it wouldn't surprise me as Lloyds are the worst I've ever come across.

I opened my isa yesterday at Lloyds at 6.5% by completing 2 transfer forms.
One was for the transfer of my TOISA (9500 for immediate transfer, the other was for the Barclays (6500) ISA which is locked in till the 26/4 08 otherwise I pay a penalty through loss of interest.
I was told he would take care of everything and would make sure I did not
suffer any penalty.
He also went on to say that I would receive the full 6.5% on the total amount (16000) with effect from today, naturally I queried this, but was told this is how they do business.
He was not a junior member of staff as he introduced himself as the Personal Banking Manager , I also did not have any sales push so I was well pleased.

boobbby

MONEYPENNY wrote: »

I opened my isa yesterday at Lloyds at 6.5% by completing 2 transfer forms.
One was for the transfer of my TOISA (9500 for immediate transfer, the other was for the Barclays (6500) ISA which is locked in till the 26/4 08 otherwise I pay a penalty through loss of interest.
I was told he would take care of everything and would make sure I did not
suffer any penalty.
He also went on to say that I would receive the full 6.5% on the total amount (16000) with effect from today, naturally I queried this, but was told this is how they do business.
He was not a junior member of staff as he introduced himself as the Personal Banking Manager , I also did not have any sales push so I was well pleased.

Get him to put that information in writing !! I will take bets he wont !!

exel1966

MONEYPENNY wrote: »

I opened my isa yesterday at Lloyds at 6.5% by completing 2 transfer forms.
One was for the transfer of my TOISA (9500 for immediate transfer, the other was for the Barclays (6500) ISA which is locked in till the 26/4 08 otherwise I pay a penalty through loss of interest.
I was told he would take care of everything and would make sure I did not
suffer any penalty.
He also went on to say that I would receive the full 6.5% on the total amount (16000) with effect from today, naturally I queried this, but was told this is how they do business.
He was not a junior member of staff as he introduced himself as the Personal Banking Manager , I also did not have any sales push so I was well pleased.

I think you ought to start compiling your letter of complaint now ! The tiered rate is there for a reason. If they were going to pay 6.5% regardless there'd be no need for the tier. The above posts explain exactly why you won't be getting what you think.

Sooler

MONEYPENNY wrote: »

I opened my isa yesterday at Lloyds at 6.5% by completing 2 transfer forms
....
He also went on to say that I would receive the full 6.5% on the total amount (16000) with effect from today
...
I also did not have any sales push so I was well pleased.

I did the same and was told the same.

Joey122

Sooler wrote: »

I did the same and was told the same.

You are not going to get paid interest until the cheque arrives at LLoyds which takes 30 days.

These assistants are thick as sh*t

steveandel

Looks like Lloyds have had enough! Looked on the website just now and the interest rate for new fixed rate isa accounts is down to a paltry 5.0% for over £9000, 4.75% over £6000 and 4.5% for over £3000. Needless to say I don't think it's very near the top of the best buy tables anymore!

dkmax_2

In case no one has noticed, Lloyds TSB have dropped the 6.5% interest rate to 5%.. I was in a branch on Friday and they had the new leaflets printed out. Takes effect today.

I am a little concerned about the rate I will be receiving and will be seeking clarification. My ISA transfers have not completed yet and the deposit for this tax year was rejected at the first attempt so only got funds into it today..

matt2008

Now that the 6.5% ISA has been withdrawn, what is the situation for those who have already opened it?

Are we still allowed to make further deposits of this years allowance, or is it now closed to further deposits?

.