Barclays Bond has matured but still has no access to the money! HELP!

Driving_Soon

9 months ago I opened a 9 month savings bond with Barclays and placed 6k in the bond.
The bond matured on the 8th November 2009.
Now, In the terms and conditions it stated that I would receive a letter from Barclays a few weeks before the bond matured to be offered a new bond or to say where I want my money to go and if they don’t hear from me they will automatically put my 6k in another bond.
Now I waited til 3 days before the bond had ended and heard nothing so I went into my Barclays branch and said I don’t want to open another bond and had not received any paperwork from them, they said that’s not a problem and did something on their computer, they asked me where I want the money to be transferred and I said my E-savings and they were fine with that and put it on their computer.
I left it a week after the 8th November and still my bond was opened so I went into Barclays and told them my problem, they said no worries and they closed the account before my eyes, and said they will put the money into my current account and it will take 2-3 days.
This was Monday, it’s now Saturday and just checked and it’s still open! After 6 days!
Can anyone tell me what they think the problem is? I really will need the money in 4-5 months so honestly don’t want the money in another bond and just want the money back into an easy savings account.
IMO, Barclays have been really out of order here and have gone against their own terms and conditions of their bond!

anna42hmr

i am afraid that this may potentially happen to a lot of people, this is poster also had the same issue
http://forums.moneysavingexpert.com/showthread.html?t=2068293
however its not against their t&c's as they are:

6. Bond maturity and repayment
6.1 Bonds will mature at the end of the Bond term on the specified maturity date. If this is a non-business day, the Bond will mature on the next business day (“delayed maturity date”).
6.2 You will be contacted by us prior to maturity of your Bond. At this time you will be offered a replacement for your existing Bond from our Maturity Bond range or, if not available, an alternative Bond which is available at that time. To accept the offer made, you need take no further action. Your Maturity Bond will be automatically opened on your behalf on the next day after the specified maturity date of your current Bond. Confirmation of the details of your Maturity Bond will be sent to you shortly after the account has been opened. Details of the options available to you will be included in the Offer Letter. For any action other than reinvestment in a Maturity Bond, complete and return the instructions form included in the Offer Letter ensuring it is received by us before the specified maturity date. The instructions form must include the Bond Holder’s original signature. Alternatively you can provide instructions in person by visiting a branch, or by telephone, subject to us being satisfied that you are who you say you are, but again instructions must be received by us before the specified maturity date.
6.3 In the case of Bonds held in the joint names of two or more personal investors, you authorise us to accept instructions from any one of you alone or from a surviving Bond Holder. We will require instructions from all trustees or from their successors, in which case further documentation may be required.
6.4 These Terms and Conditions will apply for this and any subsequent Bonds that are opened on your behalf, unless and until you are notified of other Terms and Conditions.
6.5 Funds requirement, payment will be by a cheque payable to the Bond Holder(s). Cheques will usually be issued on the same day as funds would be credited to a Barclays account and sent via second class mail (or similarpayable on maturity will be credited to a Barclays account in the name(s) of the Bond Holder(s) (or any one of them) on the next business day after the specified maturity date (or the next business day after the delayed maturity date, as appropriate). If you do not have a Barclays account which satisfies this

Driving_Soon

Thanks!

The problem is, because I did not get any letters from them, I went in there 2 days before my bond ended to tell them I wanted the money moved once the bond finished, so I honestly don't know what else I could have done.

Like the previous poster I am a student and need the money soon.

Really bad service from Barclays

anna42hmr

Driving_Soon wrote: »

Thanks!

The problem is, because I did not get any letters from them, I went in there 2 days before my bond ended to tell them I wanted the money moved once the bond finished, so I honestly don't know what else I could have done.

Like the previous poster I am a student and need the money soon.

Really bad service from Barclays

yeah we are getting concerned about this too as my mum has one of the bonds from barclays which is due to mature in 3 weeks time and still hasnt had her letter from barclays,

i personally think that the t&c is slightly unfair, afterall if people open a 9 month/1 year/2 year bond its because they want one for that lenght of time not longer, so they should really do an opt in to another bond imo instead of opt out.

Driving_Soon

Exactly, It's a con IMO. And even when you go into the branch and tell them you don't want it to go into another bond BEFORE the bond matures, they still don't listen to you!

Hope your mum's bond is ok!

molerat

anna42hmr wrote: »

i am afraid that this may potentially happen to a lot of people, this is poster also had the same issue
http://forums.moneysavingexpert.com/showthread.html?t=2068293
however its not against their t&c's as they are:

6. Bond maturity and repayment
6.1 Bonds will mature at the end of the Bond term on the specified maturity date. If this is a non-business day, the Bond will mature on the next business day (“delayed maturity date”).
6.2 You will be contacted by us prior to maturity of your Bond. At this time you will be offered a replacement for your existing Bond from our Maturity Bond range or, if not available, an alternative Bond which is available at that time. To accept the offer made, you need take no further action. Your Maturity Bond will be automatically opened on your behalf on the next day after the specified maturity date of your current Bond. Confirmation of the details of your Maturity Bond will be sent to you shortly after the account has been opened. Details of the options available to you will be included in the Offer Letter. For any action other than reinvestment in a Maturity Bond, complete and return the instructions form included in the Offer Letter ensuring it is received by us before the specified maturity date. The instructions form must include the Bond Holder’s original signature. Alternatively you can provide instructions in person by visiting a branch, or by telephone, subject to us being satisfied that you are who you say you are, but again instructions must be received by us before the specified maturity date.
6.3 In the case of Bonds held in the joint names of two or more personal investors, you authorise us to accept instructions from any one of you alone or from a surviving Bond Holder. We will require instructions from all trustees or from their successors, in which case further documentation may be required.
6.4 These Terms and Conditions will apply for this and any subsequent Bonds that are opened on your behalf, unless and until you are notified of other Terms and Conditions.
6.5 Funds requirement, payment will be by a cheque payable to the Bond Holder(s). Cheques will usually be issued on the same day as funds would be credited to a Barclays account and sent via second class mail (or similarpayable on maturity will be credited to a Barclays account in the name(s) of the Bond Holder(s) (or any one of them) on the next business day after the specified maturity date (or the next business day after the delayed maturity date, as appropriate). If you do not have a Barclays account which satisfies this

Which is what the OP did. Obviously the branch did not action your request so I would complain in writing.

anna42hmr

Driving_Soon wrote: »

Exactly, It's a con IMO. And even when you go into the branch and tell them you don't want it to go into another bond BEFORE the bond matures, they still don't listen to you!

Hope your mum's bond is ok!

thanks, fingers crossed time will tell. she is going to try and get into the branch in a week or so

i hope you get everything sorted out

yung

Have you try putting this in writing to the manager of the branch and keeping a copy of it.

Driving_Soon

Ok guys, I went into the branch today and they said there is nothing they can do, so they write a complaint on their system and sent it off. All I do now is wait

anna42hmr

Driving_Soon wrote: »

Ok guys, I went into the branch today and they said there is nothing they can do, so they write a complaint on their system and sent it off. All I do now is wait

good luck with that, sorry to be the bearer of bad news but their complant process is awful to go through, from personal experience with the fixed rate reg saver account, i ended up emailing the md of barclays and sending an fos referral before i got anywhere (after a couple of months)

if you need contact numbers, these 2 threads have some telephone numbers etc for customer services

http://forums.moneysavingexpert.com/showthread.html?t=1707351&highlight=anna42hmr&page=2

http://forums.moneysavingexpert.com/showthread.html?t=1380583&highlight=barclays+monthly+saver&page=14

oxenryd

anna42hmr wrote: »

good luck with that, sorry to be the bearer of bad news but their complant process is awful to go through, from personal experience with the fixed rate reg saver account, i ended up emailing the md of barclays and sending an fos referral before i got anywhere (after a couple of months)

if you need contact numbers, these 2 threads have some for customer services

http://forums.moneysavingexpert.com/showthread.html?t=1707351&highlight=anna42hmr&page=2

http://forums.moneysavingexpert.com/showthread.html?t=1380583&highlight=barclays+monthly+saver&page=14

Unfortunately, I second this, they are truly awful