IFISA double fees to withdraw (LC)

scooter
Member of DD Central

Posts: 352
Likes: 328

IFISA double fees to withdraw (LC) Apr 26, 2021 21:06:16 GMT

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Post by scooter on Apr 26, 2021 21:06:16 GMT

Just when you think you cannot be sucker punched by anyone elses T&Cs along comes LC with the double whammy fees on withdrawals.
I withdrew last tax year as cash was not being reinvested, I put it back in for the IFISA deadline and have gone in this year to start transferring it out again and they want me to pay the withdrawal fees all over again....

I'm sure they are covered in their T&Cs but I was going to start reinvesting interest at least, once they started up again and there is no way now.

I'm fuming....

Last Edit: May 3, 2021 23:05:36 GMT by Ton ⓉⓞⓃ: To add "LC" to the title

c64

Posts: 39
Likes: 43

IFISA double fees to withdraw (LC) Apr 27, 2021 16:28:34 GMT

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Post by c64 on Apr 27, 2021 16:28:34 GMT

I've never paid much attention to the fees on their less manual products but the Self Select ISA has no withdrawal fees for cash balances, and I intend to repeat the flexible ISA withdrawal this year, replacing the money in April so as not to lose the ISA allowance. Without paying for the privilege. (Unless they start giving us loans to invest in again, in which case I will see what they're like.)

Edit/update: I checked with them to make sure they are going to let me gradually withdraw to my bank account and then replace under flexible ISA rules in March/April 2022 like last year. Disconcertingly they said they are still OK accepting re-deposited funds just now but would not commit to that remaining the case in future. So I will just let it accumulate and transfer when worthwhile rather than trying to be clever.

Last Edit: Apr 28, 2021 19:16:22 GMT by c64: Update

scooter Member of DD Central Posts: 352 Likes: 328	IFISA double fees to withdraw (LC) Jun 21, 2021 17:47:28 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by scooter on Jun 21, 2021 17:47:28 GMT I am pleased to say that LC paid these fees back.

Post by scooter on Apr 26, 2021 21:06:16 GMT

Post by c64 on Apr 27, 2021 16:28:34 GMT

Post by scooter on Jun 21, 2021 17:47:28 GMT