barclays

MAGSMOD

I went into Barclays today, enquiring about the savings account mentioned below, taken from this website - they said it isn't available and stopped on 1st December 2008 - I told them to check this website out for themselves.....is it available, and was I given wrong info from Barclays?

FROM THE SAVINGS/INVESTMENTS TAB:
Barclays Monthly Savings 7.75% interest for a year & flexible

The Barclays one year Monthly Savings account pays a fixed 7.75% AER, allowing you to save up to £250/month. However, to get this rate you MUST open this account and credit the first payment by 31 December.

The rate on the website is displaying 6%, but Barclays have confirmed to us anyone who gets the payment in by the end of December will get the higher rate. We've had reports of misinformed bank staff only offering the 6% rate, and passed these onto Barclays who gave the following response...

"To ensure savers qualify for the Barclays Monthly Savings rate of 7.75% AER they will need to get their first credit into the account by 31 December 2008. We apologise to the small number of customers who have been into the branch and not received this information and we will re-iterate our policy to the branch network."

The process of getting the payment in will be quicker if you apply in branch, though beware of bank staff trying to flog you more Barclays products.

Importantly with this account you can miss as many monthly payments as you like without any penalty, and it allows you to withdraw cash, though if you do the interest for the following month drops to 3.03%.

Rate: 7.75% AER fixed for 12 mths. Monthly Deposit: £20-250. Make withdrawals?: Yes, interest drops to 3.03% in any month you do this. Miss a payment? Yes Operated by: Online/Phone/Branch

sabretoothtigger

Just open the account and see what happens. Keep all documents and query hq directly, if they dont honour the deal then you can always close it in jan.

Staff are often wrong and given the wrong info themselves, dont bother arguing just set it up. I'd trust the info on this site more tbh as people on the internet always love to point out mistakes

sabretoothtigger

Last Chance! 'Barclays Monthly Saver' 1 year 7.75% fixed. Great Rate... Hit n Miss Service!
The rate's unbeatable. Open it by end of play Wed 31 Dec & pay in £20 to £250 every month for 12 months and you'll get 7.75% interest fixed for a year. The Problem? This rate's now only available in branches, and some MoneySavers have had terrible experiences trying to open it, given incorrect info or told the rate changed in Nov (please feedback your experience). Yet Barclays head office has now confirmed, in writing, it's still available at 7.75%. Want to try? Go to a branch NOW, with picture ID, proof of address and a cheque to make your first payment. For how these accounts work see the Updated Guide: Regular Savings Related Guide: Top Savings

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sir_jonno

I read the article on MSE and decided to call barclays (hint dont use the 0845 number the website gives a "Calling fromoutside the uk" +44 number, replace with a 0 and its the number for the call centre in Coventry) I mentioned the article and the higher rate and 2 (very nice otherwise) people fobbed me off saying that the rate was 6% due to BoE rate cut not the 7.75% I decided to open an account with them over the phone (already a Barclays customer so quite quick) I wondered if Martin or a helper could further information as to who gave the quote from Barclays saying the higher rate still applies untill the 31st and does anyone know who to contact (a manager maybe?) to clarify this with Barclays??

Anyone manage to get the higher rate?

nathan.bain

sir_jonno wrote: »

I read the article on MSE and decided to call barclays (hint dont use the 0845 number the website gives a "Calling fromoutside the uk" +44 number, replace with a 0 and its the number for the call centre in Coventry) I mentioned the article and the higher rate and 2 (very nice otherwise) people fobbed me off saying that the rate was 6% due to BoE rate cut not the 7.75% I decided to open an account with them over the phone (already a Barclays customer so quite quick) I wondered if Martin or a helper could further information as to who gave the quote from Barclays saying the higher rate still applies untill the 31st and does anyone know who to contact (a manager maybe?) to clarify this with Barclays??

Anyone manage to get the higher rate?

I opened a monthly savings account today, and was told it was 6%. I assumed the branch were unaware of the higher rate, and so decided to go ahead and open, and clear it up later with customer services. Just got off the phone with customer services now, and they also say its 6%. I would like to know who told MSE about the higher rate. My money was deposited today, so I am hoping I can get the higher rate if it really exists.