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Barclays Tax Haven Isa reducing to 6.08% from 1.5.08

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Comments

  • FTSE_in_Mouth
    FTSE_in_Mouth Posts: 10 Forumite
    Hi Mary

    Please excuse my ignorance but do you mean by that that the 6.25% we were supposed to get with the ISA's we may or may not have opened that were on of Martin's best buys are only going to get 6.08%? Can you, or someone else elaborate please?

    Is this allowed?

    Regards

    FIM
  • Baldur
    Baldur Posts: 6,565 Forumite
    FTSE_in_Mouth wrote: »
    Hi Mary

    Please excuse my ignorance but do you mean by that that the 6.25% we were supposed to get with the ISA's we may or may not have opened that were on of Martin's best buys are only going to get 6.08%? Can you, or someone else elaborate please?

    Is this allowed?

    The Tax Haven rate is clearly shown to be variable in the product details, why would they not be allowed to reduce the rate?
  • bristolleedsfan
    bristolleedsfan Posts: 12,949 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    [quote=FTSE in Mouth;10517035

    Please excuse my ignorance but do you mean by that that the 6.25% we were supposed to get with the ISA's we may or may not have opened that were on of Martin's best buys are only going to get 6.08%? Can you, or someone else elaborate please?

    FIM[/quote]


    Expect more reductions during the year ;), hence why the wise people have been fixing their ISAs. ;)

    The only suprise is that Barclays are only reducing the rate by 0.23%. :eek:
  • wheredoesallthetimego
    wheredoesallthetimego Posts: 63 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Doh! Thought it might last longer than that.
    I applied last week - still not a bad rate though.

    A few questions
    They said it would take about a month to be opened - will that be backdated to the application date so I will be getting interest on the ISA and also on the money in a deposit account until they cash the cheque?

    Would I be able to stop the processing of the ISA and apply somewhere else?

    Pretty sure I will ust let this happen and decide about transferring out later when the rate gets too bad but would like to know the options.
  • Lokolo
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    You can open an ISA up now and then when your Barclays one is finally open, you can transfer it then :cool:
  • wheredoesallthetimego
    wheredoesallthetimego Posts: 63 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    The 6.08% is the gross rate accrued monthly, aer will be around 6.26
    It's currently 6.31, 6.50.
  • wheredoesallthetimego
    wheredoesallthetimego Posts: 63 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Lokolo wrote: »
    You can open an ISA up now and then when your Barclays one is finally open, you can transfer it then :cool:

    You mean open another cash isa now - wait a month for the Barclays to be opened then transfer the money into the already opened empty cash isa?
    I don't see the point of doing that (if it's possible), who knows what the rate would be in a months time unless it's a fixed rate in which case I doubt whether anyone would allow this.
  • Lokolo
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    I didn't say you had to transfer it straight away, but if rate goes down another 0.25 and Barclays follow next month, then why not?

    [edit] allow what about fixed rates? transfer in? plenty do.
  • Lokolo
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    FTSE_in_Mouth wrote: »
    Baldur, sorry if you had a crap weekend. Based on your reply it would seem that you had a miserable one. If your responses to me are going to be so terse and rude then please don't bother replying to my queries.

    Thanks to everyone else for their information.

    How was that response in the slightest bit rude?
  • FTSE_in_Mouth
    FTSE_in_Mouth Posts: 10 Forumite
    Lokolo wrote: »
    How was that response in the slightest bit rude?

    You're quite right. I apologise. I have deleted it.
This discussion has been closed.
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