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Barclays ISA - Compensation & More!
james10999
Posts: 447 Forumite
I had a very simple complaint.
Went into a branch to sign up for the ISA early march. Chased up in the branch at the end of March to no result.
Went in again Mid April again to say this still had not been opened - went through a complaint form with a Manager at the branch.
Got a response to my complaint within 3 days and appoligses to back date my interest.
I phoned there complaint line and said this wasn't good enough, explained that i'd been into the branch to chase this up after 5 weeks of not hearing anything and this wasn't acceptable. I got £25 as a goodwill jesture and confirmed they will back date by deposit to the 6th April.
I also got told (and apparantly this applies to anyone that applied before the new tax year for a deposit in the new tax year) that if I had not had the account opened by the end of the month, they would credit me all the interest I would have earnt FOR THE YEAR as a another goodwill jesture and I could even go to another provider if I so wished.
Make sure you get on that phone or complain in branch if you have a similar situation!!
Went into a branch to sign up for the ISA early march. Chased up in the branch at the end of March to no result.
Went in again Mid April again to say this still had not been opened - went through a complaint form with a Manager at the branch.
Got a response to my complaint within 3 days and appoligses to back date my interest.
I phoned there complaint line and said this wasn't good enough, explained that i'd been into the branch to chase this up after 5 weeks of not hearing anything and this wasn't acceptable. I got £25 as a goodwill jesture and confirmed they will back date by deposit to the 6th April.
I also got told (and apparantly this applies to anyone that applied before the new tax year for a deposit in the new tax year) that if I had not had the account opened by the end of the month, they would credit me all the interest I would have earnt FOR THE YEAR as a another goodwill jesture and I could even go to another provider if I so wished.
Make sure you get on that phone or complain in branch if you have a similar situation!!
Mortgage as Sept 2012: £96,000
Mortgage free: When i'm 39 / Sept 2023
Mortgage repayment = £588
Tracker Rate 1.99% above base: 2.49%
Mortgage free: When i'm 39 / Sept 2023
Mortgage repayment = £588
Tracker Rate 1.99% above base: 2.49%
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Comments
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Frankly, I wouldn't beleive what you've been told. Did you get it in writing? If not, you'd better, if you expect them to keep to it.
You know what they say - "If something sounds too good to be true, it probably is......"?0 -
The Cash Beater ISA? That was released on or around 22nd March, no? How did you sign up for one at the beginning of March?
Suzejames10999 wrote: »I had a very simple complaint.
Went into a branch to sign up for the ISA early march.I’m a Forum Ambassador and I support the Forum Team on the Savings & Investments, Small Biz MoneySaving and House Buying, Renting & Selling boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the Report button, or by e-mailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.0 -
james10999 wrote: »I had a very simple complaint.
Went into a branch to sign up for the ISA early march. Chased up in the branch at the end of March to no result.
Went in again Mid April again to say this still had not been opened - went through a complaint form with a Manager at the branch.
Got a response to my complaint within 3 days and appoligses to back date my interest.
I phoned there complaint line and said this wasn't good enough, explained that i'd been into the branch to chase this up after 5 weeks of not hearing anything and this wasn't acceptable. I got £25 as a goodwill jesture and confirmed they will back date by deposit to the 6th April.
I also got told (and apparantly this applies to anyone that applied before the new tax year for a deposit in the new tax year) that if I had not had the account opened by the end of the month, they would credit me all the interest I would have earnt FOR THE YEAR as a another goodwill jesture and I could even go to another provider if I so wished.
Make sure you get on that phone or complain in branch if you have a similar situation!!
My son opened one of these for last year before 5 April and hasn't heard a thing yet.
Should he be chasing this up?!!!
Thanks0 -
Me and my husband signed up for one each as well. He is already a barclays customer and the money was taken from his account. My money is still in my account and neither of us has heard anything from them. I sent them an e-mail yesterday asking what the hell is going on as you are supposed to get a welcome pack. I went into branch on 31st march and nothing has happened and sent my husbands form off on about 28th march, but nothing.
Think Barclays maybe having some problems or if it doesn't get sorted soon or we lose the allowence from 06/07 theres gonna be trouble!:heart2: Charlie born Aug 2007 :heart2: Reece born May 2009
:heart2:Toby born Apr and taken by SMA Dec 2012
:heart2: Baby boy failed M/C @ 20 wks Oct 2013 :heart2: Sienna born Oct 20140 -
There was something in the financial press during the week about a backlog at Barclays but they did say all interest would be credited based on the day they got the cheque. Not the day they dealt with the paperwork.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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So you could get all the interest for the year credited by the end of the month then move the 3K + interest to another provider that accepts transfers in?0
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Were you planning on using this year's ISA allowance? If so, you cannot now.james10999 wrote: »I had a very simple complaint.
Went into a branch to sign up for the ISA early march.
[...]
I got £25 as a goodwill jesture and confirmed they will back date by deposit to the 6th April.Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0 -
I didn't open a Barclays ISA because of the stories on here; I've been into a Barclays branch only once and never again.
However you should all wait until the accounts are opened and see what they've done; rather that making assumptions :eek:
The account will need transfering after a year and its going to take an age to transfer out. ING are giving a better rate for 6 months; due to the econimic climate it might be time to shift account or fix rate after that.0 -
So you could get all the interest for the year credited by the end of the month then move the 3K + interest to another provider that accepts transfers in?
Your right - although it will only go on my initial deposit that I put on the form. However as the kind lady in the complaints department will have no record of the deposit amount, I will try to get away with saying £3k!
She has confirmed on her system and my complaint was passed on to a senior relations advisor therefore better service i feel.
I hope it doesn't come through by the end of the month - fingers crossed!Mortgage as Sept 2012: £96,000
Mortgage free: When i'm 39 / Sept 2023
Mortgage repayment = £588
Tracker Rate 1.99% above base: 2.49%0 -
arrowsmith wrote: »The account will need transfering after a year and its going to take an age to transfer out. ING are giving a better rate for 6 months; due to the econimic climate it might be time to shift account or fix rate after that.
You could be right about that. I don't fancy waiting up to a month when the time comes to transfer. If the expectant Base Rates rise as analysts predict and these rises are passed on to the customer then there should be a good choice of ISA's to compete with Barclays. Maybe, just maybe Barclays may have got their act together by then though :rolleyes:0
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