stevio
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Post by stevio on Mar 26, 2016 12:01:50 GMT
Just spoke to Lloyds and Halifax, both do say that some of thier ISA's are 'flexible', neither of the two people I spoke to had any idea of what flexible meant!
Wondering whether to chance it based on what it says on their website?
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adrianc
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Post by adrianc on Mar 26, 2016 12:42:45 GMT
Just spoke to Lloyds and Halifax, both do say that some of thier ISA's are 'flexible', neither of the two people I spoke to had any idea of what flexible meant! Wondering whether to chance it based on what it says on their website? I'd be a lot more inclined to believe what's down in black-and-white on their website than the word of some clueless Customer Service Assistant.
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ianj
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Post by ianj on Mar 26, 2016 13:33:16 GMT
Just spoke to Lloyds and Halifax, both do say that some of thier ISA's are 'flexible', neither of the two people I spoke to had any idea of what flexible meant! Wondering whether to chance it based on what it says on their website? I'd be a lot more inclined to believe what's down in black-and-white on their website than the word of some clueless Customer Service Assistant. When I accessed my Lloyds account online about a week ago I was presented by an information screen about new ISA rules as from 7th April. Some of their ISAs would become flexible and there was reference to the pending IF ISA. T&Cs would be amended to reflect these changes. I was invited to 'read more' but thought I'd do my banking then investigate. Needless to say, that initial screen was now not accessible. Online searching revealed no changes had been made to their ISA details, and I have yet to see that same information screen on subsequent online access.
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ablender
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Post by ablender on Mar 26, 2016 16:41:52 GMT
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 26, 2016 16:48:31 GMT
Just spoke to Lloyds and Halifax, both do say that some of thier ISA's are 'flexible', neither of the two people I spoke to had any idea of what flexible meant! Wondering whether to chance it based on what it says on their website? I'd be a lot more inclined to believe what's down in black-and-white on their website than the word of some clueless Customer Service Assistant. You might say that but I remember when Santander launched the predecessor to 123, there was an error on the website for what period the interest calculation period was and by default the period in which you had to make the minimum payment, calendar month instead of statement month. When raised with the 'clueless' branch meet & greeter, they immediately knew it should be statement, was an error and corrected the interest. When pointed out to the website, they investigated 'the error' for 6 months, including multiple phonecalls to discuss my 'complaint' to my home number in work hours (therefore unanswered), and finally gave up without establishing what the 'error' was and paid me compensation for being unable to resolve my 'complaint'. It never was a complaint just me pointing out a misleading statement on their site for them to correct, my issue had been resolved 6 months previously in branch. Thats clueless! Anyway, Halifax & LLoyds have made similar statements in the press.
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stevio
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Post by stevio on Mar 26, 2016 19:15:52 GMT
I'd be a lot more inclined to believe what's down in black-and-white on their website than the word of some clueless Customer Service Assistant. You might say that but I remember when Santander launched the predecessor to 123, there was an error on the website for what period the interest calculation period was and by default the period in which you had to make the minimum payment, calendar month instead of statement month. When raised with the 'clueless' branch meet & greeter, they immediately knew it should be statement, was an error and corrected the interest. When pointed out to the website, they investigated 'the error' for 6 months, including multiple phonecalls to discuss my 'complaint' to my home number in work hours (therefore unanswered), and finally gave up without establishing what the 'error' was and paid me compensation for being unable to resolve my 'complaint'. It never was a complaint just me pointing out a misleading statement on their site for them to correct, my issue had been resolved 6 months previously in branch. Thats clueless! Anyway, Halifax & LLoyds have made similar statements in the press. Well I'll take screen shots and get ready for some fat compensation from a complaint! 
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 26, 2016 23:44:50 GMT
Surprising. Theyre one of the well established execution only stockbrokers catering to the retail market. Ive been registered with them for years but never actually used them for dealing because there are cheaper options if you dont want to make use of broker research and make few trades. FTSE listed. Not entirely sure why you would want a flexible S&S ISA, particularly as flexibility only applies to cash, rather than a standard flexible cash ISA with a bank paying some interest if the idea is to pull the money & invest in P2P
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ablender
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Post by ablender on Mar 26, 2016 23:59:41 GMT
Surprising. Theyre one of the well established execution only stockbrokers catering to the retail market. Ive been registered with them for years but never actually used them for dealing because there are cheaper options if you dont want to make use of broker research and make few trades. FTSE listed. Not entirely sure why you would want a flexible S&S ISA, particularly as flexibility only applies to cash, rather than a standard flexible cash ISA with a bank paying some interest if the idea is to pull the money & invest in P2P I did not intend it to be an S&S I want a Cash ISA so this on is not for me. Thanks for pointing it out.
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james
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Post by james on Mar 27, 2016 2:52:50 GMT
Not entirely sure why you would want a flexible S&S ISA, particularly as flexibility only applies to cash, rather than a standard flexible cash ISA with a bank paying some interest if the idea is to pull the money & invest in P2P You'd want a flexible S&S ISA so you could use the flexible ISA features to remove the cash, invest in P2P and sell the P2P then replace in the ISA. Without first having to transfer to a cash or S&S ISA elsewhere that offers the flexible features. The flexibility features apply to cash, S&S and IF ISA types, though of course only the cash made available from deposit, sales or income in any of the three.
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stevio
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Post by stevio on Mar 27, 2016 7:38:12 GMT
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james
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Post by james on Mar 27, 2016 8:37:59 GMT
In the first of those Lloyd writes that "The flexible allowance from the withdrawal of prior year funds cannot be transferred between ISA providers. If you do not replace withdrawals before a transfer, the allowance will be lost". That is not what the ISA rules say. The ISA rules say that even an account that has been closed can be reopened to allow the money to be paid in again. It may, however, be Lloyds policy not to allow this or partial transfers and they are allowed to have that policy.
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