warning for any one who has the barclays monthly saver - check your statement

anna42hmr

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

ScarletBea

I got my statement last week and everything was fine.
I hardly ever see what they write about the interest, but I do check with my calculations that they're paying 7.49% (minus tax).

anna42hmr

ScarletBea wrote: »

I got my statement last week and everything was fine.
I hardly ever see what they write about the interest, but I do check with my calculations that they're paying 7.49% (minus tax).

thats good, maybe mine is a one off, but thought i would warn incase, i dont pay much attention to the interest myself, as i checked for the first few months got correct rate but not checked since, only noted today as i was looking for a telephone number to call barclays about online access for another account i have of theres and noticed it then.

they have been advised what i want as a result of the complaint - to know the exact date they droped the rate on my account (looking at my prev statement it was right then) and that will want the interest rate i have lost betwen that date and until they put it back to the correct rate to be reimbursed. i also want an explantaion as to why it happened and a letter to confirm the dates. they have advised they will do so and should have an update over the phone in the next 5 days

maximise

I have yet to receive a statement, the monthly 6% saver being my only account with barclays and opened in March...

anna42hmr

maximise wrote: »

I have yet to receive a statement, the monthly 6% saver being my only account with barclays - do I need a current account with them to receive better customer service?

i dont have a current account with them, this account defaults at annual statements, to get them more frequent (monthly/quarterly etc) you have to specifically request this in branch, i went in not long after i opened the account and asked for this, but you can ask them to do it at any time, and i have been receiving statements monthly

if you want to be able to see this account online, but dont have/want the current account you can open a barclays e saver reward account which gets online access and apparently ties the accounts together so you will be able to see this one online (i have not long opened the other account but am still waiting for online access to them, hence why i noticed this problem with the interest rate as i was looking for a telephone number for barclays that was open over the weekend!)

maximise

brilliant let us know how you get on anna42hmr

anna42hmr

maximise wrote: »

brilliant let us know how you get on anna42hmr

thanks, i will do, fingers crossed they will sort it soon, I am aiming to ring them on Friday/Saturday to see if there is any update or resolution on this and if not, will ask for an address to send a writen complaint to.

anna42hmr

maximise wrote: »

brilliant let us know how you get on anna42hmr

i called barclays for an update this morning, and no news as yet, they have not allocated it to a complaint handler yet either, will ring them next friday to see if there is any update, if not will also issue a letter to them

anna42hmr

have not had any update as yet appart from receiving an acknowledgment letter dated 29th may stating i should here by 22nd june may ring them tomorrow to see if there is some update if not will wait till i get back from my hols (which well timed enough is the 22nd june!) better have this sorted by then!

anna42hmr

slowly going mad now, still no update when i calld today!