Barclays Monthly Saver

im1dful

smash wrote: »

I opened one today without too much hassle. They said they needed to do a credit check which I thought was odd as I was the one giving them money!

Anyway they go through a sort of checklist to see if there are any other opportunities for them but the advisor was happy when I politely refused each and every one.

Different branches seem to work differently. I went to my local branch and I was allowed to open the account without the person trying to sell me anything else. It was done in 10-15 minutes.

My mum went to her local branch and had to stop the person trying to do a "fact find" on her. But he wouldn't let her open the regular saver without opening a current account for the payments to come out of too. Hers took about half an hour

zkw29

I tried to open one today and after 10 minutes of standing in front of the only cashier serving I left with an appointment for Tuesday afternoon and quite a large queue behind me.

Bit of a shame cos I'd taken all my proof of ID with me. Lets hope its the same interest rate on Tuesday :rolleyes:

jimbow25

I opened one on Monday and it was pretty straightforward. I am a Barclays customer but not a current account customer (just have the ISA) but it didn't take very long in the branch.

The bloke suggested opening a current account and paying the standing order into there (from my normal current account) and then straight across to the monthly saver, he said this is 'recommended' and would improve my credit rating but he said I didn't need to do this and wasn't too pushy, so I said no thanks.

I got the account number and a receipt for my £250 cheque deposit straightaway and the cheque has already cleared so I guess it's all gone through fine.

Now that this is open I've cancelled my Lloyds monthly saver S/o - which was due to end in March - a month early. Better to get 6% interest for a year on my next payment, than 8% interest for only the final few weeks, I guess!

zedcat

Quick question - I tried to open one of these today but was refused because I refused to give them any more personal details that they already had on file when I opened my cash ISA with them - apparently me refusing to tell them how much I earn and how much I spend on gas, electric etc means that I am a "security risk" !!! (but I wasn't when I opened my cash ISA?)

Phoned HO to complain and was told that they had to have this information because otherwise they could be accused of mis-selling........ When I pointed out that it was a savings account we were talking about they still wouldn't budge.

So, question is - has anyone who does NOT have a current account with Barclays managed to open one of these without giving them every last personal detail? It seems so from some of the posts above, but would really appreciate some definite yes or no answers in case I try again with another branch.

Thanks!

RayWolfe

Yes ..............

savetilibleed

I see that interest is paid on the first working day of the month. But I can't seem to find whether it is paid back into the account or if it is paid out (or if there is that option).

jimbow25

zedcat wrote: »

Quick question - I tried to open one of these today but was refused because I refused to give them any more personal details that they already had on file when I opened my cash ISA with them - apparently me refusing to tell them how much I earn and how much I spend on gas, electric etc means that I am a "security risk" !!! (but I wasn't when I opened my cash ISA?)

Phoned HO to complain and was told that they had to have this information because otherwise they could be accused of mis-selling........ When I pointed out that it was a savings account we were talking about they still wouldn't budge.

So, question is - has anyone who does NOT have a current account with Barclays managed to open one of these without giving them every last personal detail? It seems so from some of the posts above, but would really appreciate some definite yes or no answers in case I try again with another branch.

Thanks!

Yes. I took in an ISA statement to prove I was a current customer, answered some questions to prove my identity (date of birth, first line of address and post code, I think) and then I was on to writing my deposit cheque and signing the forms shortly after. I didn't have to tell them anything else about my personal circumstances.

I remember being asked how much I earned when I opened a couple of current accounts but I can't recall being asked for anything from Barclays, either for the ISA or this.

zedcat

Thanks very much - I think I will be visiting another branch or two and then following up with Head Office again!

Toastie

I'm fairly curious on this, before i open one up and stand in a very long line tomorrow, are you only able to pay the standing order amount in to the account or can you 'top it up' from week to week?

I'm interested because i get £30ALG per week, and on top of that i get paid four weekly, for me i will be able to add bits per week but i can't guarantee a 'large amount' per month.

Otherwise this might not be for me, as i will only be able to put in 30quid a month, pretty worthless really.

Thank you :money:

poppy3

I have been into branch today and opened a monthly saver. I wasn't given the option of depositing a cheque, was told to set up a standing order. When I got home I realised that she has put yesterdays date as the date account opened. As the term is 12 months from opening date I will lose a days interest and in fact would not earn any interest until standing order takes effect. I am now wondering whether to pay in any money at all.