Did you apply for a Barclays Monthly Saver in December?

Frances63

demotw wrote: »

it is your error. oh and we had at no point "changed the deal".

anyone who didnt apply online however, and did it through a branch and didnt credit has a good argument however to complain.

It was my error? Because the web-site advertised only the rate I could get from January onwards and not the rate from the current day? That's bluster.

The deal was changed and then changed back. One minute Barclays were saying deposits first made in December would get 6% unless account opened by the end of November; the next moment you CAN get 7.75% if you open the account and pay first payment by 31st December, but we won't tell anyone (unless they complain). Really really bad customer service.

intalex

Frances63, the way I see it, it's not like Barclays promised something and didn't deliver on it.... it's rather a loophole that they didn't broadcast to everyone (except for the MSE team), in which case, you should have just followed the advice from the MSE team and made your first deposit by 31 December 2008.

Under the circumstances, I don't think Barclays will compensate you in any way unless they are generous and you are lucky!

Frances63

Thanks, I see what you're saying, BUT it was the MSE web-site that alerted me to the deal, but then the barclays web-site was saying 6%. Surely they can't say only those that have seen MSE AND complained that they should get 7.75% can have it, everyone else can whistle!

They were withholding information to their loyal customers. I have been with barclays for 30 years, but quite a few things lately have made me very ready to change my current account. I'm only waiting for a good incentive from another bank and I'll be off.

intalex

To be honest, all the rate-setting is handled by systems. These products (and accompanying logic) are all configured within systems. Once that is done, people (i.e. branch staff and online banking support) simply open new accounts by selecting the very same products.

What has happened in this instance is that the logic configured for this particular product sequenced on the first deposit date rather than the account opening date.

As far as entitlement goes, had they not admitted this "unplanned offer" to the MSE team, they could have reversed a few things in their systems and enforced their originally advertised offer of applying the 7.75% rate to only those accounts opened by 30 November 2008.

A bank in the current times is hardly going to advertise an "unplanned offer" to all and sundry, especially since it is a greater expense on their part. I can fully understand the way they have handled this situation - I suspect some inside information regarding the glitch was leaked, which prompted spread of word and pressure from the MSE team, which ultimately led to a statement from Barclays themselves to the MSE team. Otherwise, they may have well kept quiet on this matter, even though the lucky few who opened and first funded the account in December would have benefited unknowingly.

demotw

Frances63 wrote: »

It was my error? Because the web-site advertised only the rate I could get from January onwards and not the rate from the current day? That's bluster.

The deal was changed and then changed back. One minute Barclays were saying deposits first made in December would get 6% unless account opened by the end of November; the next moment you CAN get 7.75% if you open the account and pay first payment by 31st December, but we won't tell anyone (unless they complain). Really really bad customer service.

also wrong, im not saying how this was handled was fantastic, because to be quite honest it was fairly shambolic based on what alot of people have said on here, but the rate on the website was correct as we did change the rate of the account on the 1/12. the only thing was wrong was that there was no footnote saying deposits made prior to this would get the 7.75% rate, but like everyone had said, it was assumed the standing order would be set up for a months time, as per the norm. its the way the account is setup thats the problem, in that it takes the day of credit not the date of opening like every other account, as the determining factor on what interest rate is paid. online banking has its advantages in that its quick and easy, but if you went into a branch (mine at least, cant speculate on others), you would have been made aware of this.

fullstop

Hi Demotw, Just a couple of observations: don't think the whole thing was handled very well by Barclays, staff saying you can not start the MS with cash or cheque on the day they were in the branch to open them, plus all the confusion over the rate.

I did not need to book an appointment to see a advisor when I opened mine in November , all done within 15 minutes , also as a non Barclays customer,it all went smoothly. No complaints with the staff at my branch.

demotw

fullstop wrote: »

Hi Demotw, Just a couple of observations: don't think the whole thing was handled very well by Barclays, staff saying you can not start the MS with cash or cheque on the day they were in the branch to open them, plus all the confusion over the rate.

I did not need to book an appointment to see a advisor when I opened mine in November , all done within 15 minutes , also as a non Barclays customer,it all went smoothly. No complaints with the staff at my branch.

i agree, on one system it tells me standing order payments only (this has only recently been changed), yet in the t&c it will allow chq/cash as first payment, so im not suprised so many were confused. I suppose however, as this cash/cheque thing isnt normally a problem, it was only due to the unusual circumstances with the interest rate.

I am glad everything ran smoothly in your branch, quite heartning to see considering some of the posts. Recently alot of personal bankers are pretty new to the roles, not many of us 5+ year ones left, so i guess that may have something to do with it. Like i have always said though, im normally around on here at some point daily, so dont mind answering questions if ppl have got them. Oh and best piece of advice i can give to all, check the savings accounts you have, as older savings accounts (day to day, easy saver, tracker savings, bonus saver etc... all pay 0.1% as they do not follow the newer accounts) not checked what the newer ones (active 0.7% and nest-egg tiered to 1.66% (roughly)), what barclays dont do and i personally wish they did was notify when a newer account comes out, so you could be on a lower interest rate then an identical account with a different name. Also with regards to this, a switch of savings account does not have to change your account number just the name and obviously the interest rates.

Whew that was along post, remember check those savings accounts

nalin

Spoke to Customer Relations today (12.1.2009) and have been informed that an account was opened on 5th December 2008 (money paid at the same time) would attract 7.75% interest.

Jazzy_B

I opened my account in the local branch on 30th December, and was told I would get 7.75%, as long as I made a deposit that day. I thought it had all gone very well.
My statement arrived today, giving me 5.84%
I phoned Barclays, and they referred me to their complaints dept.
They asked where I got the information from, and I told them here. "Aha. That's Martin Lewis isn't it. " Sounds like they've had a few calls!!!!
They're going to look into it.

I only found out about this because I asked for a monthly statement. Can I urge anyone who asked for an annual statement to contact their branch to check the rate they're on, as it'll be harder to prove in a year.

basilsauce

I opened a monthly savings account on 11 dec and put in £250 the same day, yet when I got my statement yesterday I was on the 6/5.84% rate, rather than 7.75%.
Just spent 30 mins on the phone to Barclays, where I was originally told that because I had made my first payment by transfer from my current account rather than standing order, I had ruled myself out of the 7.75%!!!!! The guy I was speaking to also tried to tell me that this was clearly stated in the T&C's and also stated in the on-line opening process!
Thankfully I didn't accept his explanation and eventually managed to speak to a manager who said it was all to do with the end-of-nov/end-of-dec confusion, but she has assured me that I will be put onto the 7.75% rate - so fingers crossed for the next monthly statement, that they get it right!