LloydsTSB Fixed rate Isa 6.5%

carpy

i think it would be interesting to see when people opened (applied?) for this account and when (if not still waiting) your transferred ISA's were credited.

in my case;

applied for/opened (by phone) - 22nd March 2008

ISA's transferred (from barclays & abbey) - ...............still waiting.......:mad:

what about you guys?

sloughflint

boobbby wrote: »

Even when you pay into a previous ISA with the same provider it counts as a new ISA or account each tax year.

Thanks for this boobbby.

I knew about the current /previous tax year partial transfer rules but I never knew that they were really lots of multiple accounts. I just assumed that it was one account as in Individual Savings Account since only one account number is given to the investor.

So it is a bit more complex than my rather basic understanding of ISAs which was
an ordinary account that you have limits on how much you can put in it each year if you wished but interest is tax free.

I wonder if this is why dkmax was saying we couldn't use HMRC guidelines which seemed to me a logical thing to do at the time.I was taking the A from ISA quite literally.

Carpy: Mine was an internal transfer but:
application 28/03/08,old account closed 04/04/08, new account funded 11/04/08.

Richchad

carpy wrote: »

i think it would be interesting to see when people opened (applied?) for this account and when (if not still waiting) your transferred ISA's were credited.

in my case;

applied for/opened (by phone) - 22nd March 2008

ISA's transferred (from barclays & abbey) - ...............still waiting.......:mad:

what about you guys?

Our history...
We opened Lloyds TSB accounts 3rd March..we requested transfers from YBS & Barclays with another one each to be transferred in June.

YBS - Left Account 3rd April - Arrived at LTSB 10th April
Barclays - Left Account 15th April - Arrived LTSB 22nd April

My wife transfers from same accounts were similar timescales, we also paid in this years £3600 allowance on 8th April and they arrived 3 days later.

The delays seem to be how long it took LTSB to request transfers.

roddydogs

The "30 days" often quoted only apply to from when the existing ISA holder must reply to the new provider-they apparantly can take as long as they like from when you apply, to contact your old provider, and from when they get the details from your old provider.
So you end up with the old story"-its not our fault, were wating on you old provider, and the old provider saying "Weve not had any notice yet" etc, etc, classic "Passing the buck" how do you know which one to believe?

echelon_2

I dont exactly *get* why it takes so long - i was given a copy of the transfer form on application day, i would have been happy to send it off myself. Surely the FA i saw took another copy then posted it that same day to my current bank? if not why not?

The problem is the longer the transfer takes, the shorter the 6.5% interest period is. So it really is in LloydTSBs best interests to make the transfer take as long as possible - theyll save hundreds of thousands of £££.

boobbby

echelon wrote: »

I dont exactly *get* why it takes so long - i was given a copy of the transfer form on application day, i would have been happy to send it off myself. Surely the FA i saw took another copy then posted it that same day to my current bank? if not why not?

The problem is the longer the transfer takes, the shorter the 6.5% interest period is. So it really is in LloydTSBs best interests to make the transfer take as long as possible - theyll save hundreds of thousands of £££.

If you want to transfer to Alliance and Leicester (6.25%) then all you do is open the account on the Internet and download/print the transfer form from their site...fill it in and send to your previous provider...simple!! Cant see why LTSB cant use the same method!

derrick

roddydogs wrote: »

The "30 days" often quoted only apply to from when the existing ISA holder must reply to the new provider-they apparantly can take as long as they like from when you apply, to contact your old provider, and from when they get the details from your old provider.

Not according to Carol Knight from the Tax Incentivised Savings Association!
"Carol Knight told Working Lunch that the 30 days period for the transfer starts from when the new provider accepts the application."
http://news.bbc.co.uk/1/hi/programmes/working_lunch/7355256.stm

Maybe someone has the definitive wording somewhere?

sloughflint

echelon wrote: »

I dont exactly *get* why it takes so long - i was given a copy of the transfer form on application day,

Another inconsistency. I wasn't given that.Only 12199-0207

The problem is the longer the transfer takes, the shorter the 6.5% interest period is. So it really is in LloydTSBs best interests to make the transfer take as long as possible - theyll save hundreds of thousands of £££.

So you must be part of the group of people that believe that the 12 months starts from application rather than deposit.

roddydogs

derrick wrote: »

Not according to Carol Knight from the Tax Incentivised Savings Association!
"Carol Knight told Working Lunch that the 30 days period for the transfer starts from when the new provider accepts the application."
http://news.bbc.co.uk/1/hi/programmes/working_lunch/7355256.stm

Maybe someone has the definitive wording somewhere?

Yes but its all very well quoting carol Knight/working lunch, but how do you get L/Tsb to agree or act on it?

TomWills

If I was looking to transfer savings (around £5000) from a HSBC account to something like this (the original post... if this is still the same offer ) would I be looking to loose any money doing it? I'm pretty much a novice in banking