Barclays are closing my ISA, why?!

lemonjelly

tdwindustries wrote: »

This really is major scandal. I mean if it takes up to 30 days to do Cash ISA transfer, I now have 5 days to transfer it before my account is closed at Barclays. Surely this is illegal? I will now lose the tax free benefit all thanks to Barclays.

Their helpline is clearly used to dealing with people like me, they cannot offer any help or advice.

Their suggestion? Log a complaint. It takes up to 5 days to respond.

By which time, my account and contract with Barclays will cease to exist. Great stuff.

Surely this cannot be allowed?!

Barclays are absolutely rubbish at handling complaints. I made a complaint over a month ago about a seperate account, & they failed to respond even when chased. They've sent me a letter which doesn't actually address the issues I raised, & says now they've investigated they'll close the complaint. I'm responding, as I had to ring them & confirm that promised branch follow up action wasn't carried out. This hasn't been included in the complaint.

Administratively, they are very poor.

Currently I'm advising folk to bank elsewhere owing to the poor service. However I would agree with earlier posts. Make a formal complaint about the poor quality of service.

cottager

tdwindustries wrote: »

Their suggestion? Log a complaint. It takes up to 5 days to respond.
By which time, my account and contract with Barclays will cease to exist. Great stuff.

If you haven't already, IMO what rb10 suggests is really important, to write asking for the ISA to stay open beyond the 14 days to allow for TF elsewhere. Staple a copy of their letter to it for avoidance of doubt, and get it there before the deadline date if poss (may mean sending Special, but at least do it Recorded). Say when you received their letter, and make it clear you'll be making a complaint.

This one isn't to complain as such, but the more urgent matter of keeping the ISA open for TF. Keep a copy as it will be important in your complaint to the Ombudsman if it gets that far (I think you have to exhaust Barclays' complaints process first). If they do close it down when they say, you've shown you made every effort to protect your ISA's tax-free status.

Once that's away get on with the business of putting the transfer wheels in motion and making the complaint formal. Keep notes and dates of everything you do and any conversations.

Good luck... hope you can salvage it.

tdwindustries

Called number on letter again. Spoke to lady who told me the same as above. I kept her on phone 15 minutes discussing. She gave little away but told me to “read Section 15 of my terms and conditions”. She did not know the contents of Section 15, which made me think they get many customers ringing who have been sent a similar letter to me.

I made her aware that this was probably very unfair treatment as I would lose my tax free benefits of the two and a half year old Barclays cash ISA if I withdrew the money without transferring to another cash ISA, she went to speak to a manager. She came back and said that if I logged a complaint this would keep the account open long enough to do the transfer. Obviously I don’t have any promises but not much else I can do at this stage.

She logged a formal complaint, telling me I should receive confirmation within 24hours and a reply within 5 days.


I have started the transfer and will write a letter tonight...


Thanks for the help.