Barclays have my ISA balance wrong

Nine_Lives

Not actually mine, they have the g/f's wrong. Ok she's £20 up, but if it's not right then it's not right.
She has no current account with them & so she had to go into the bank with her opening account paper work they then gave her a printed balance

: £4, 684.95


Now she leaves all her ISA dealings to me, which suits both of us, so i know what has been paid in.

Opened 27 April: £1,020
June: £45.50
In July her 6 month ISA with Nationwide matured, which was paid to her FlexAccount. This then got sent to her Barclays ISA...
July: £2,153.90 & £200
August: £294.86 & £950

Now by my calculations, that brings her balance to £4,664.26 meaning she has £435.75 left to pay in to meet the £5,100 limit.



The only thing i can think of is that Barclays pay interest monthly & not annually? If this is the case, does this count towards the £5,100 limit or not?

KingL

... or they pay interest annually on a fixed date (irrespective of when the account is opened), e.g. everybody gets their interest on 1st August.

interest doesn't count towards an annual allowance, so if the £20 is interest, then your calculations are right. But you might want to check with them just incase your records of credits are in error.

If you have the interest rate and dates when the credits were made, you can calculate the interest due at any date.

btw, are you saying that the money from the Nationwide ISA was taken out as cash and then paid into the Barclays one? If so, that's rather a waste of last year's allowance, as she could've had the potential to put in another 2589.64 this year (if she wanted to) rather than the 435. Use the transfer process and you keep previous years' allowances.

datostar

Thw Barclays Golden ISAs do pay interest monthly.

Nine_Lives

Thanks for that. So we'll be assuming the difference is interest then.

As for the transfer/withdrawal, i was aware of this totally.

However Barclays don't allow transfers in. Aside from that (as it could've been transferred elsewhere i know) there was no way she thinks she's going to be able to set aside £5100 from this April to next April as spare cash.

So the money was withdrawn so she could hit £5,100.

Plus she'll be out of a job come next March at the LATEST as her boss retires.