Abbey to Lloyds Transfer Problem

mleonard79

Hi Everyone,

I've just read that the Lloyds 6.5% fixed ISA is going to be withdrawn on Friday :mad: I really wanted to transfer into this ISA but was planning on doing so in a few weeks time as it was meant to be open until 31st May. Basically I currently have an Abbey ISA which I had a lot of trouble with and Abbey owe me quite a bit of backdated interest. They are currently investigating this and I'm waiting for it to be sorted out. This could take a few weeks or even longer though and I'm loathed to transfer out of Abbey while this is going on as I'm worried they may take even longer sorting it out since they'll know I'm taking my money away from them. I thought the best thing to do was wait for them to fix the issue and then transfer to the Lloyds account but now it won't be available at that time.

The only other way to open the account is with this year's subscription which I didn't yet want to put in. I do have £3K I could use but it's stuck in an ICICI savings account and will take quite a few days to get to my current account so I'd be scared to give them a cheque in case it came out too soon.

I'm assuming I'll just have to miss out on this ISA now but I thought I'd ask if anyone has any ideas just in case. Thanks.

Regards

Michelle

liitleblackcat

Go to the bank where your current account is and ask them for a £3k overdraft limit for a few days. If you are a good customer that shouldn't be a problem - I did it before buying a car last year and the gap between paying for the car with a cheque and the money being transferred from my savings account was only 1 day - cost about 10p in interest. Then open the ISA at LLoyds TSB and pay in a £3k cheque. Then log onto the ICICI site and transfer £3k to you linked bank account. Easy peasy. You may not even need the overdraft if the savings move as fast as the cheque through the banking system.