Did you apply for a Barclays Monthly Saver in December?

ditzymuppet

Oh this did make me chuckle.

I went in, was told it was 6%, which to be honest, is a lot better than a lot of places are offering... so I opened it...

The account manager chappy promptly told me that Martin Lewis was a liar (!) and didn't know what he was on about (!) and that all staff had been told to take the details of the person opening the account after receiving the MSE email...so that Martin would then get in touch with us to apologise personally! Whatever..... I beleive Martin over some jumped up spotty suit in a bank any day Thanks Martin, Thank you for taking this to a higher level to get us our 7.75% interest...

Woo.:j

~ditzy

demotw

eilz wrote: »

"We apologise that there has been some confusion around this but we can assure all customers who opened a Monthly Savings account and made their first deposit on or before the 31st December that they will get the 7.75% fixed rate"

So if what Mark said above is true, and I opened this saver account on the 31st Dec at 5pm, and shifted £250 at the same time from my barclays current account, I should be eligiable for the 7.75%, cause I went in the branch with my email confirmation yesterday (6th Jan), but they said I will still only get 6%, as 7.75% ended in Nov, I AM GETTING MORE CONFUSED BY MARKS PARSONS, don't people at the top communitcate this down.

If I take a print out of what Mark said to the branch do I stand a chance of getting 7.75% still?

MSE's - Happy New Year to all

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if opened at 5pm on 31st double check that rate, as technically banking is closed so it is infact the 2/1/2009 after 5pm. You may have got lucky with that one, but if it was 5.01 for example, i would expect you have got the lower rate.

Bronnie

Hi again

Further to my previous posts on this thread #28, #145 and #152

Briefly, opened my account no prob at 7.75% on 31/12/08 with a £250 transfer from Barclays current account by telephone banking and set up standing order for subsequent payments from January 09. Rang back later in day to change standing order date from end of Jan 09 to beginning of Jan 09. Phone advisor inadvertently also recalled the initial funds transfer. Barclays accept this was their error, no question.
Matter was logged as complaint and received the following written response today.

[I can confirm that if interest was calculated at a rate of 7.49% gross for the year, you would receive around £100.04 net interest credit. The amount of interest in a full year at 5.84 % is around £77.77, the difference being £22.27. I have today credited your account with £25 to cover the amount of interest which will be lost throughout the year. ]

Can't deal with the maths myself! Could some kind soul kindly confirm this is correct, on the basis that I was investing £250 per month from 31/12/08 at 7.75%/ 7.49% gross APR for 12 months.

The account rate is apparently now set at 5.84%gross as they are "unable to amend interest rates on accounts"

intalex

By my calculations, there is a difference of around £25.78 in the net interest earned between the gross rates 5.84% and 7.49%. This is on the best case assumption that you will be paying in the full £250 at the beginning (first working day) of each month, and consequently pay in a total of 13 payments of £250 each (if the account allows it). I think you have been compensated reasonably fairly.

Bronnie

Account terms only permit 12 payments of £250, so Barclays have honoured the higher rate, it appears.
Many thanks for your swift response.

dogflyinghigh

Hi I went in with my husband and they said that you had to open it by standing order you couldn't put cash or a cheque in so obviously they couldn't open it at that rate there and then as the money wouldn't have come through in time, so very dissapointed, we went in especially to open it with every we needed

johnhoque

davidl wrote: »

Hi I also opened the accounto n 31st Dec after reading about it on MSE. I have an email conformation at 3pm on 31/12/08.

I made the first payment 31/12/08, and the first standing order 31/12/08.

Yet the first payment came out 5 Jan, and the standing order first payment 6 Jan.

Does anyone know where we stand with this?

I guess it's worth us complaining by letter and phone, I'll do this as soon as I get time but 6% is still a good rate considering base rate now at 1.5%

gingerbird67_2

Hi, I opened account on 29th Dec at the local branch even though the advisor was adamant that it would only be 6% and that I could only pay by s/o. When I got home I rang the customer Services and was told that it would pay 7.75%. My bank said that no way would a s/o arrive by 31st. No problem thought I, my hubby has fast banking so he transferred the money instead and I waited for my slow transfer to arrive on 2nd.....Guess what mine arrived on 31st...I have been paid 24p interest (non TP as well) and think I worked this out to be the full rate but am surprised that the 2 payments didnt mess it up.Havent yet spoken to an advisor and dont know if I should pay in another 250 this month.
:huh:

HouseHuntr

I opened this account on 31/12/08 after a little confusion at the branch. Firstly they weren't sure about the 7.75% so spent 15 minutes on the phone to head office to confirm it. Then I said I'd like to pay £250 in cash immediately to ensure the account is opened in time. They said no, so I again asked them to call the head office who confirmed that I could pay in cash and still receive the 7.75%.

Account opened and £250 deposited in cash at 1612 31/12/08

I checked online banking a couple of days later and it says :

Date

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Kind of transaction

---

Money in

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Balance
02/01/09

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Credit 31/12/08

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£250

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£250

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cash + branch id

which suggests to me the account wasn't opened in time ?

So which is it 31/12/08 or 02/01/09 ? Should I not have had an interest payment on 01/01/09 if it had been opened in time ?

Do i have cause to complain to Barclays as it looks is if the 45mins it took to open the account has pushed it beyond the working day of 31/12/08 ?

PS. I have since deposited another £250 via S/O on 08/01/09 so depending on what they say is the openeing day I may have now made two january deposits !!!

oxenryd

HouseHuntr wrote: »

So which is it 31/12/08 or 02/01/09

I believe it is 31/12 but only Barclays can confirm this