Did you apply for a Barclays Monthly Saver in December?

Rob_07

Hi,
I sent an email last night to John Varley and today recieved a phone call from Barclays Head Office, they have appologised for the mistake in not taking the oppurtunity at 8 weeks which i gave to them on numerous occasions to resolve the complaint and we have come to an agreed settlement in terms of compensation for the inconvienience caused.

Rob

anna42hmr

Rob_07 wrote: »

Hi,
I sent an email last night to John Varley and today recieved a phone call from Barclays Head Office, they have appologised for the mistake in not taking the oppurtunity at 8 weeks which i gave to them on numerous occasions to resolve the complaint and we have come to an agreed settlement in terms of compensation for the inconvienience caused.

Rob

Thats good, i have not had any calls on my mobile today, but am at work so they may have tried at home, or replied to my email, will check when I get back.

anna42hmr

had a message last night, have called the advisor this morning and she is going to send me some papers in the post, appears that issue may have been an error on the statements and only 1 day where was paid wrong so very little loss in interest. she will send so i can see their calculations.

i am thinking of asking for £20 from them compensation to reimburse the costs i have had in chasing up a response (2 recorded delivery letters and over 10calls if not more over the past 5 months, and i there has only been a slight error or none at all, that could have been cleared up sooner without me having to chase and result in emailing the ceo

anna42hmr

complaint is finally sorted now, thankfully, and have received the cheque reimbursing calls etc and the amendment of interest

just a question, does any one know what happens ref the interest on the last month as barclays pays monthly on 1st, if the account does not mature of the 1st month is all the interest paid for that month on maturity or does it get paid on the 1st of the month after maturity?

10_66

If account matures, say on the 9th, the normal interest is paid on the 1st for the previous month, and the remaining few days interest will be added to the account when it matures.

anna42hmr

10_66 wrote: »

If account matures, say on the 9th, the normal interest is paid on the 1st for the previous month, and the remaining few days interest will be added to the account when it matures.

thanks, thought that would be how it worked just wanted to check

KeithyT

My wife and I opened up this monthly savings account in her name last October so the higher rate is about to end and become a normal savings account. Does anyone know what rate it will be (or how you can find out)?

Also we tend to open up these sort of accounts in her name as she is on a lower salary (and presumably therefore in lower tax bracket) but how do you tell you are paying tax on interest at the lower rate (or how does the bank know this as they don't ask for your income level when you open the account)?

Thanks in advance

cottons

KeithyT wrote: »

My wife and I opened up this monthly savings account in her name last October so the higher rate is about to end and become a normal savings account. Does anyone know what rate it will be (or how you can find out)?

Also we tend to open up these sort of accounts in her name as she is on a lower salary (and presumably therefore in lower tax bracket) but how do you tell you are paying tax on interest at the lower rate (or how does the bank know this as they don't ask for your income level when you open the account)?

Thanks in advance

It converts to a "MoreForMore" Savings Account which is currently paying out a whacking 0.5% AER. Details here:
http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?task=homefreegroup&value=16084&target=_self&site=pfs

As with all banks, unless you are a non taxpayer altogether and are registered as such with the bank they deduct 20% tax from the interest earned before paying it to you. If you are a higher rate tax payer you have to settle the difference with the Inland Revenue.

rickytwo

Opened this account August 2008 @7.75% (As per advice from this web site) @£250 per month. Account now matured & they have piad me £110.33 in interest. When I complained that this did not seem right they have sent me a cheque for 0.06pence. Has anyone any idea how they work this out 250 x 12 =£3000. Total????

10_66

My account's just matured, total of monthly interest earned over the 12 month period was £101.15. I checked this each month (7.49% is the monthly interest), and each month was correct to the penny.