Barclays Golden ISA 3.61%

Castrovalva

All ISAs that are opening via Barclays online bank are opened there and then. No more delays. And you can now transfer cash from and too your ISA - another new feature.

geet

thanks enforcer and castro, it is not a question of delay - from what enforcer said i can't close 08-09 isa in egg and open for same 08-09 in barclays. i can only start a new one for 09-10 and that barclays hasn't started yet...

Castrovalva

geet wrote: »

thanks enforcer and castro, it is not a question of delay - from what enforcer said i can't close 08-09 isa in egg and open for same 08-09 in barclays. i can only start a new one for 09-10 and that barclays hasn't started yet...

To be fair - their not allowed to.

My source tell me that you'll be able to open the 09-10 ISA in their online banking from 6th April, so you could get the rate from day one of the new tax year.

geet

does your source say the same golden rate will be offered?

Castrovalva

geet wrote: »

does your source say the same golden rate will be offered?

Yes.

At the moment there are no plans to amend either the core interest rate or the bonus rate.

Again this will be the same as the last two ISA Barclays launched. The rates only plumeted because the BoE dropped it's rate so much. The bonus has stayed the same on the accounts.

jimbow25

Castrovalva wrote: »

How about the fact that Barclays savings accounts are linked to the BoE base rate?

And the fact that the base rate has no where to go other then up?

To what extent are they 'linked'? I can't see a BoE linked rate guarantee in the terms and conditions.

Haven't Barclays just announced they're leaving all their rates unchanged despite the BoE rate decreasing? What's to stop the same happening the next time the BoE rate goes up?

Castrovalva

jimbow25 wrote: »

To what extent are they 'linked'? I can't see a BoE linked rate guarantee in the terms and conditions.

Haven't Barclays just announced they're leaving all their rates unchanged despite the BoE rate decreasing? What's to stop the same happening the next time the BoE rate goes up?

Nothing. Nothing at all.

I was just going by past expeirence.

And the fact their leaving savings rates unchanged is a good thing - less you want a savings account paying zero percent.

BUT - if they did it would generate very bad PR for them so I don't see them doing that any time soon - do you?

geet

well, barclays has an appalling rate for transfer isa. so even if they retain the new golden rate for new 09-10 isa, it can at some point go on par with transfer isa, can't it?

jimbow25

Castrovalva wrote: »

Nothing. Nothing at all.

I was just going by past expeirence.

And the fact their leaving savings rates unchanged is a good thing - less you want a savings account paying zero percent.

BUT - if they did it would generate very bad PR for them so I don't see them doing that any time soon - do you?

Fair enough - but it means the point stands that the rate could drop/fail to increase in line with the market, in future. Yes I agree that it's good the rate didn't go down this week but it swhows that they're not slaves to the BoE base rate when deciding their own rates.

I agree it would be bad PR for them not to follow the market but judging by past experience they're more worried about suckering people in than keeping them - the last 2 year's market leading ISAs both pay less than 1.5% now to anyone who still has them open. I think it's very possible the rate won't be great in a year's time compared with whatever the new product is at that date.

Anyway pleased to see they're offering this account but I'll be sticking with a fixed rate alternative, albeit with a dlightly lower rate, for now.

SavySaver_2

For all you people who had problems in the past opening isa's with barclays well things have changed.........
The accounts are now opened face to face in branch and the money is paid straight in. You get your acccount details there and then and that's it! Couldnt be much easier. I opened a fair few today.........