Did you apply for a Barclays Monthly Saver in December?

bankemployee101

anticlaus105 wrote: »

Can anyone confirm based on the figures below what interest rate I am getting. Tried myself and got less than 7.5% but I may be wrong.



Deleted

Edit: opps used 7.75% for some reason. Wishful thinking. Seems to work out correct using 7.5%. Happy days.

Provided you opened and *credited* the account in December, you are definitely earning the 7.75%. If your first credit was after Jan 1st, you'll be earning the fixed 6% (which is still very good and well worth having!).

toughtobeabug

Just thought I let you know I opened a barclays saver on the 31st December and credited same day by FP, the branch insisted on 6% and I opened still as this was the next best account at the time, I recently called barclays to confirm rate which he couldnt so raised as a complaint last week I had a letter confirming I was earning 6% AER, I called back to confrim the date of the first credit which was the 31st and wrote a letter to customer realtions with the statement issued to MSE on 05/01/09

I have just had a phone call to tell me I was correct and that I will be earning the 7.75% AER and as goodwill will also credit £20 to the account. Faith in barclays restored for now.

anna42hmr

warning for any one who has the barclays monthly saver - check your statement
i opened the account on 21st november (when interest was 7.75% aer (7.49%gross pa)

and from day one they have been paying this rate until now it appears

all statements have stated that interest rates are 2.99% and subject to rules (ie no withdrawl) you will be paid an extra 4.5% (ie totalling the 7.49 rate)

however i have followed rules but following the statement i have received today (covering period 21 april to 20 may) it now states this about the interest:

Higher gross rate: 5.84% (lower gross rate 2.99%) - which is now the gross rate of the account if i was to open it now

have just called them now to se if i can get sorted and confirm what the situation is as its meant to be fixed for 12 months!

got to call them back after 9 on a diffrent number (0845 603 0845)

just thouught would give a heads up to any one else with the account

anna42hmr

have called barclays again now the relevent department is open

they have confirmed i was receiving fixed 7.49% aer and how now dropped to the 5.84% are

asked them why, and they advised thats the account interest rate now, advised yes for new customers, however not for customers on the old rate and if that was the case, why did they pay the higher rate up until last interest.

the person i spoke to finally conceeded that i was correct that the interest rate should be fixed at the higher rate and therefore they should not have changed it, and that he will log for investigation by the complaints dept

Frances63

What a mess., and what a struggle. No-one should have to go through this much work just to get what has already been agreed and what they are entitled to!

Shame on Barclays. Lots of people have suffered with this deal and those that haven't might not realise if they are being duped or not.

rb10

Frances63 wrote: »

What a mess., and what a struggle. No-one should have to go through this much work just to get what has already been agreed and what they are entitled to!

Shame on Barclays. Lots of people have suffered with this deal and those that haven't might not realise if they are being duped or not.

Eh? Only one person has posted here to say that they have the problem of the interest rate appearing to suddenly drop, not 'lots of people have suffered with this deal', and it seems it only took two phone calls to resolve it ... not an enormous amount of strain.

You then go on to say that 'those who haven't [suffered with this deal] might not realise if they are being duped or not'. Well if they haven't suffered, it doesn't really matter, does it, as they are getting what they signed up for.

Jazzy_B

anna's not the only one to have had problems. My interest rate was not right when I got my first monthly statement and it took 3 months to sort out. Surely this forum is for people to post their problems with the account. Her post made me recheck my last statement, and I'm grateful for her bring this potential problem to light.
Rant over;)

Frances63

rb10 wrote: »

Eh? Only one person has posted here to say that they have the problem of the interest rate appearing to suddenly drop, not 'lots of people have suffered with this deal', and it seems it only took two phone calls to resolve it ... not an enormous amount of strain.

You then go on to say that 'those who haven't [suffered with this deal] might not realise if they are being duped or not'. Well if they haven't suffered, it doesn't really matter, does it, as they are getting what they signed up for.

Read the whole thread, it's full of problems and endless calls trying to sort them out.

anna42hmr

Jazzy_B wrote: »

anna's not the only one to have had problems. My interest rate was not right when I got my first monthly statement and it took 3 months to sort out. Surely this forum is for people to post their problems with the account. Her post made me recheck my last statement, and I'm grateful for her bring this potential problem to light.
Rant over;)

thanks, fingers crossed they dont take as long to sort mine out as it did with you.

thought i would warn people to check just in case, especially as mine has been paid fine until now, so many like me may be laxed in checking after the first little while.

also as this account does not default to issuing monthly statements and it has to be requested, others may also be having this issue but not know it because of a lack of statements or online access to this account

PM

I Opened this on 31st Dec as did family members but Im only one who didnt recive any paper statement.

But my Question is what happpens if ur payment was late. I just checked my Current account and seems the SO for feb went late in early march and then another in late march. Will this effect the interest?