LloydsTSB Fixed rate Isa 6.5%

boobbby

ericpode wrote: »

I was told by the LLoydsTSB help line that transfers-in would get the 6.5% rate for the rest of the 12 month period, provided the funds were received by LloydsTSB before the end of May.

I have a Barclays ISA that I am undecided about transferring because I have no idea whether it the funds would get to Lloyds by the end of May.

It's all very confusing.

So what happens to funds paid in after May.... do you get a lower rate ?

sloughflint

ericpode wrote: »

I was told by the LLoydsTSB help line that transfers-in would get the 6.5% rate for the rest of the 12 month period, provided the funds were received by LloydsTSB before the end of May.

To me, that looks like another case of 'misinformation'

• rate fixed for 1 year,
• tiered interest - the more you save the more you earn
• Guaranteed rate, fixed for a year when you make no withdrawals.
• Allows transfers in from other Cash ISA products/providers.
• Multiple tax year lump sum contributions allowed.
  
• Interest calculated on a daily basis and paid at account maturity.

If you've already reached the £9k with your other providers then this new transfer should also earn 6.5% I'd have thought and May should have nothing to to with it.

But I don't like unknowns and wouldn't take the risk.As I said on your other thread, if I hadn't already committed to the transfer, I'd transfer somewhere else for the sake of a few pounds interest on a maximum of £3000.

ric2003

Baldur wrote: »

The Ombudsman will not look at complaints unless they have gone through LTSB's complaints procedure and a satisfactory resolution has not been achieved through that process, within a period of eight weeks from the date of the initial complaint - see HERE.

ok... so who do I go to, to complain about the Financial Ombudsman??

Maneki_Matt

I recently transferred a previous ISA with HSBC into a Lloyds TSB ISA. The money left my HSBC account on 14th April but has only just been credited to my Lloyds account on 28th April.

Does anyone know what the rules are on these transfers? Is it normal for the money to be in limbo for so long? And if not how best should I complain?

Baldur

ric2003 wrote: »

ok... so who do I go to, to complain about the Financial Ombudsman??

The remit of the Financial Ombudsman service clearly states when they can become involved, so what cause would you have for complaint?

"when can the ombudsman service get involved?

We can get involved and start looking at your complaint if:

the business has sent you a letter with its final response to your complaint, but you're still unhappy or

the business has had eight weeks already but has still not sent you its final response."

Baldur

Maneki_Matt wrote: »

Is it normal for the money to be in limbo for so long? And if not how best should I complain?

Don't know about 'normal' but I transferred in excess of £13.6k from Alliance & Leicester to LTSB, which left A & L on 26th March but still hasn't been credited to my FRISA.

Needless to say, a formal complaint has been sent to LTSB.

sloughflint

Maneki_Matt wrote: »

I recently transferred a previous ISA with HSBC into a Lloyds TSB ISA. The money left my HSBC account on 14th April but has only just been credited to my Lloyds account on 28th April.

Does anyone know what the rules are on these transfers? Is it normal for the money to be in limbo for so long? And if not how best should I complain?

Interest should be backdated to 14th but get it confirmed in writing.

boobbby

sloughflint wrote: »

Interest should be backdated to 14th but get it confirmed in writing.

Mine was confirmed by LTSB in writing and also gave the amount I was going to get while the Cheque was in limbo. (They even go it spot on! ):T

sloughflint

boobbby wrote: »

Mine was confirmed by LTSB in writing and also gave the amount I was going to get while the Cheque was in limbo. (They even go it spot on! ):T

Another little difference in procedures. No amount given for me but the intention is in writing so that's good enough for me.

marshall2k

Just to give another report of transfer time:
Left Northern Rock on 22nd of April
Appeared in Lloyds on 30th of April.