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Anybody had their 08/09 Tax Haven ISA opened?
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PParka
Posts: 268 Forumite
Hi,
Has anybody who applied for a 08/09 Barclays Tax Haven ISA online actually had it opened yet???
I applied at the beginning of March and got a letter saying it would be opened at the start of the 08/09 financial year.
So far I haven't received anything else and my £3600 is still sitting in my current account earning rubbish interest.
How long do people think it will be before they catch up with the applications?
Has anybody who applied for a 08/09 Barclays Tax Haven ISA online actually had it opened yet???
I applied at the beginning of March and got a letter saying it would be opened at the start of the 08/09 financial year.
So far I haven't received anything else and my £3600 is still sitting in my current account earning rubbish interest.
How long do people think it will be before they catch up with the applications?
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Well I'd hope they open my 07/08 one first, which applied for 4 April.
Got a letter just this morning, saying that:-
"Due to high demand it 'may take longer than we'd like to process your application",
& reminding me of My personal details
& telling me that I have a legal right to these details ....(???)
Who writes these letters for them ?0 -
Hi,
Has anybody who applied for a 08/09 Barclays Tax Haven ISA online actually had it opened yet???
I applied at the beginning of March and got a letter saying it would be opened at the start of the 08/09 financial year.
So far I haven't received anything else and my £3600 is still sitting in my current account earning rubbish interest.
How long do people think it will be before they catch up with the applications?
Same as Joe65, got a letter saying they will do it asap.
But theres no point saying 'I applied beginning of March', they can't start processing them until 6th April! So basically theres a backlog of people who applied before Barclays could do anything about it, just be patient, your money will go through soon as possible
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This happened to me last year. It took ages to go through. But whilst I earned interest on the amount in current account waiting to go through by the time they picked my application up to officiailly process, they also backdated interest for the ISA to when I handed in the application form in the first place. They might do this again this year given the delays that is inevitable with these good rates - just a shame they aren't more strategic and sort out sufficient staffing levels/cover.0
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This happened to me last year. It took ages to go through. But whilst I earned interest on the amount in current account waiting to go through by the time they picked my application up to officiailly process, they also backdated interest for the ISA to when I handed in the application form in the first place. They might do this again this year given the delays that is inevitable with these good rates - just a shame they aren't more strategic and sort out sufficient staffing levels/cover.
We opened ours on Wednesday. We were told that interest would start on that day.
He admitted it was a shambles last year and that this year it would be much more efficient - said it should take about 15 days - we'll see!0 -
LTSB & Barclays are a complete shambles. Any margin in their interest rates compared to decent providers is more than offset by their shocking customer service and general incompetence. Mind you I hear Abbey take the biscuit..In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0
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They are in no rush to open these.
The only thing you can do to avoid lost interest, is open them with £1 then transfer the rest of the money in later once it is open.
If they really wanted to, they could have processed all the applications as they received them, and just set the account to only start/activate on a specific day. It shouldn't be hard to run an overnight batch at the start of the new year to activate them.
I'm trying to open a tax haven ISA and transfer out my tax beater ISA. At least with the transfer out, they have a 1 month deadline target. Lets see how that goes.
p.s. if you have a large sum in your current account waiting for the ISA to get opened, you can open an instance access ssavings account online in a few minutes. It becomes available instantly, and gives you a better rate (though still rubbish) of between 4 and 5% with instant access. Just put it in there until the ISA is open.
p.p.s My mum tried to open a Barc tax haven isa for 08/09, and also pre-applied in early march.
They wrote a letter back to her (with her cheque) saying:
"Since you already have an ISA with Barclays for 08/09, you can not subscribe again".
Its unbelievable that their systems are so bad that they can think you already have an 08/09 ISA with them, before the 08/09 tax year has even started.
SC.0 -
Sillychuckie wrote: »The only thing you can do to avoid lost interest, is open them with £1 then transfer the rest of the money in later once it is open.
If we're talking Barclays, I was assured my cheque would earn interest from the day it was handed over. (Had to have a meeting with them to open it, but it was quick and there was no attempt to sell, though the bank clerk did have a go when I set up the appointment.)However hard up you are, never accept loans from your friends. Just gifts0 -
I am a Barclays customer. Had an appointment with them on about 31/3, they took the money from my Barclays account.
Received a letter about my ISA... to be honest I didn't read it. Just shoved it in the file, but it was a "welcome" letter, so I guess whatever has to be done happened.
Never had one before. Just assumed it would happen. I don't tend to read much mail. I just shove mail into files.0 -
Hi,
Has anybody who applied for a 08/09 Barclays Tax Haven ISA online actually had it opened yet???
I applied at the beginning of March and got a letter saying it would be opened at the start of the 08/09 financial year.
So far I haven't received anything else and my £3600 is still sitting in my current account earning rubbish interest.
How long do people think it will be before they catch up with the applications?
I also have the same problem although i did it online on the 6th of april god knows how long my money will mow sit in my current account0
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