Barclays Monthly Savings 7.49%

Artful_Bodger

I must admit to being quite disatisfied with Barclays in general their Customer Service is some of the worst I have experienced so they would have to pull a very large rabbit out of a hat for me. They do seem to change the rules depending on the way the wind is blowing so I have tranferred my ISA and cut up my Barclaycard.

emc

Can someone who has set up a non-Barclays standing order to make the monthly payments please confirm that the standing order details are just the account number and sort code for my Monthly Savings account as given in my welcome letter?

LongTermLurker

emc wrote: »

Can someone who has set up a non-Barclays standing order to make the monthly payments please confirm that the standing order details are just the account number and sort code for my Monthly Savings account as given in my welcome letter?

Yes.......

oldfella

just a reminder that now is the best time to setup this account - transfer the initial £250 before the end of the month, and set the standing order to start from the 1st Dec. This maximises the interest over the period.

fullstop

Not a Barclays customer, but went into my local branch today to set up a monthly saving account, no problems, all sorted within 15 minutes. Checked the Barclays website before I left and the rate is going down to 6% from Monday 1st December, so if any one else wants to get the fixed 7.75% rate you will have to arrange it in a branch before then.

Made my first payment by cheque over the counter.

bluebell_lily

fullstop wrote: »

Checked the Barclays website before I left and the rate is going down to 6% from Monday 1st December, so if any one else wants to get the fixed 7.75% rate you will have to arrange it in a branch before then.

I was told by the Barclays adviser that this is a VARIABLE rate product, therefore they can change the rate at anytime. (Even though it says fixed rate) - I presume they want your money and then change the rates at a later date (which they have for the ISA) and then hopefully nobody will know. A case for the FSA/Financial Ombudsman :rolleyes:?

apt

Your advisor was mistaken. It's a fixed rate for 12 months. If I didn't have one already I'd be opening the account at a branch tomorrow to get the 7.75% AER.

opinions4u

fullstop wrote: »

Checked the Barclays website before I left and the rate is going down to 6% from Monday 1st December

Fall back position looks like 7% at Halifax - assuming they don't pull theirs!

fullstop

bluebell_lily wrote: »

I was told by the Barclays adviser that this is a VARIABLE rate product, therefore they can change the rate at anytime. (Even though it says fixed rate) - I presume they want your money and then change the rates at a later date (which they have for the ISA) and then hopefully nobody will know. A case for the FSA/Financial Ombudsman :rolleyes:?

As apt says, your advisor was wrong, from the T/C

Flexibility to miss a payment or change the monthly standing order

Interest is paid monthly

Fixed interest rates for 12 months

It's easy to apply and you don't need to have a Barclays current account.

LongTermLurker

bluebell_lily wrote: »

I was told by the Barclays adviser that this is a VARIABLE rate product, therefore they can change the rate at anytime. (Even though it says fixed rate) - I presume they want your money and then change the rates at a later date (which they have for the ISA) and then hopefully nobody will know. A case for the FSA/Financial Ombudsman :rolleyes:?

Fixed rate, but as with any account, the rate offered can be changed at any time - however, once you've opened it, the rate is fixed for a year.