LloydsTSB Fixed rate Isa 6.5%

johnmoney05

exel1966 wrote: »

You contradict yourself Johnny as you say they have 'NOT backdated any interest' then go on to say 'the exact interest they are backdating'. Which is it ?
They don't have to tell you how much interest at this stage and why should they. You say you have a letter from them confirming no loss of interest will take place so why be so pedantic about it.

I didn't contradict myself. It is very clear:-

1. LTSB didn't backdate any interest to my account. (They DIDN'T)
2. I wrote to them to ask "how the calcualtion of the interest are they going to backdate to my account, from when and what rate (the exact interest -backdate)".

Of course they don't need to tell me how much interest in my account at this stage. BUT I am asking HOW the interest will be calculated for my money. These are two different things?! I am not going to wait for one year then to find out the interest is not right.

IF they credited the money into my account like most Banks and BSs on the date they received the cheque from my old ISA provider (or a letter to confirm if they are going to credit later), all these hassles would not happen, and I am sure LTSB staff would save a lot of work so would I.

Careful_ly

Johnmoney05

I've posted this before in this thread (# 734) that OH has had backdated interest added, but we cannot see it on internet banking. So are you sure no backdated interest has been added?

johnmoney05

exel1966 wrote: »

All the while the more pointless letters Lloyds have to write the less time those same staff have to get on with their job of transferring everyones ISA's. And you wonder what takes them so long ?

How much time to take them to confirm "WHEN" your interest will start to calculate? "WHEN" it will be end of your term? "WHAT" interest rate are you getting?

If they couldn't answer these simple questions within a month, I can tell you why take them so long to transfer EVERYONE's ISA's.

johnmoney05

Careful_ly wrote: »

Johnmoney05

I've posted this before in this thread (# 734) that OH has had backdated interest added, but we cannot see it on internet banking. So are you sure no backdated interest has been added?

Thanks, Careful_ly.

I have no way to know if any backdated interest. It is not shown on my internet banking. That is why I have been written to them to get a confirmation.

Richchad

sloughflint wrote: »

I've reread the last few pages of this thread.
Exel1966, I do wonder if you maybe work for LTSB.

I don't expect he works for LTSB, he is just another expert on everything..lol

Lyrrad

I can't find this deal on Lloyds website. Has the deal been pulled

p1an0player

Lyrrad wrote: »

I can't find this deal on Lloyds website. Has the deal been pulled

yes.......

MO2

My ISA account story with Lloyds TSB so far:
· The ISA account was opened on 13th of February 2008. I signed the transfer authority form for my exiting ISA provider (Kent Reliance BS) on that day and was assured that the transfer process would be completed within few weeks.
· As that period elapsed, I did not hear or receive any response concerning my ISA transfer application. I then made numerous calls to Lloyds branch and the ISA helpline, but the staff could not update me with any further details regarding the transfer of more than £9700.
· On 20th March. I went to another Lloyds branch and I complained to the branch manager who called the staff at the branch where my ISA was opened to clarify the situation but again to no avail. So, I had to sign a second form for authorising the transfer to Lloyds on that day.
· On 3rd April, I received a letter informing me that the transfer of my ISA funds, which I hold elsewhere, is in progress. This letter did not mention the name of my existing ISA provider.
· Subsequent calls I made to the ISA Centre and further visits to a number of branches in Central London revealed that the transfer request was in fact sent to Skipton BS not to Kent Reliance BS,
· To date (more than 2 months), the funds have still not been credited to my ISA account due to errors made by Lloyds.
· I wrote a complaint letter to Lloyds head office requesting that the interest calculations, at the rate of 6.5%, on my ISA funds to be backdated to the date of my ISA application as compensation to any loss of interest incurred during the delay of the transfer.
· This is also delay the deposit of this tax allowance.

Fella

A 42-page thread on one product & I still have no real idea on how a few aspects of it work! This is not a reflection on the posters, it's because every different Lloyds employee says something different.

My g/f has finally managed to get her ISA transferred. It took about 10 weeks. Still have no clue when the 12-month period starts.

One question: Can she deposit this year's £3,600 into the account at 6.5% interest?

many thanks in advance if anyone knows.

regards
Fella

KTF

If the account was opened then the rate was still 6.5% then yes she can deposit this years allowance in and get 6.5% on it. That is what I did.