Has anyone experienced problems with the Fixed Rate ISA from Lloyds TSB? It was available until the 31st May this year.

I opened one, transferring the funds from my previous ISA provider, but find I cannot add any funds to it! I've only used £280 of my annual £3600 allowance, by the way. The Lloyds TSB Customer Service has been absolute rubbish so far, and I'm no further forward after a month of phone calls, etc.

Anyone had similar problems?

Lyn G.

I could write a book about the terrible service I have had from Lloyds tsb. I opened a fixed rate ISA with them and transferred in about 29,000 from another provider. I did this before the end of 2007 tax year so was in plenty of time to get into the fixed rate ISA. After 2 months of hearing nothing and 3 phone calls later I had a letter simply stating the funds had gone in and giving me an account number. No details of the account (what kind etc) so rang them up. We are changing our department ring this number. We cant help you ring the ISA team on this number( the one I had just rung) ring it again very angry by now to be told everything is being done in the branch now. Went into branch they know nothing about ISAs and have no details. Got them to look up my account number to find that I had been put into a low interest account, lower than the one I had transferred out of !! asked them to sort it out and they said they couldnt and I would have to prove that I applied for the fixed rate ISA and write to them. Well I dont trust them with my money so I have now transferred the whole lot to ICESAVE who are brilliant and efficient the interest rate is not quite so high but they have several really good accounts and all online . . .I suggest you put the rest of your allowance with someone else.

Hi Trisha2,

I have being consulting the forum for quite some time and I have now decided to join in!

My experience with Lloyds is different......I hope I won't regret what I am saying!!!

I opened an ISA with Lloyds (3.6K) and transferred in 2 old ones so that the total was >9K and I could take advantage of the 6.5% interest. It did take some time to receive a confirmation of the 2 ISA funds but after 4 weeks everything was in place. I was aware that the transfer of ISAs might take long (I don't remember exactly what the term is but I am sure it's written down in their T&Cs). I can access my account online and I am surprised you had to call or go to the branch. By simply logging in, I can make sure of:
- amount credited
- type of account (Fixed rate ISA)
- account number and sort code

I know lots of people do not trust internet banking. I don't know if this is your case.
Surely I do fear more incompetent advisors working in customer service dep and call centres than internet hackers!!!

Thanks

Hi Lyn G,

Do you mean the 6.5 % fixed rate ISA?

If this is the case, I am sorry but you are incorrect. They closed it much earlier than the 31st May. Due to massive subscriptions, it was available for ca 1 week. I remember reading posts about this on the forum last April and I had to rush to the bank on April 19th (last available date if I remember correctly) to open one. As I have said to Trisha2, I access my ISA account online and I can verify that everything is correct. They also tell you what your allowance is.

The bank advisor was very kind and found time for my application even if I'd walked in a few minutes before 5pm without an appointment!

Thanks

Hi Knowlittle

I love the name by the way!!

On the contrary I do everything online but that was the point I got a letter with an account number on it. Nothing else no pin number no online banking details no mention of what type of ISA they had put my money in and a paragraph saying if you have any questions concerning your ISA please ring . . . then the trouble began because nobody could answer my questions. I actually wanted to know if I had been receiving interest in the time between my previous bank telling me the funds had been transferred and Lloyds telling me they had received them which was well over a month. Anyway I am glad you had a better experience.

Trisha2