Barclays Golden ISA - issue 3 / 3.25% AER now available

A._Badger

aaronmanz wrote: »

NO, unfortunately you cannot transfer any Previous years ISA into Golden ISA 3, regardless of if those were with Barclays.

Complete madness!

So Barclays expects me to lend it fresh money for year's ISA allowance, and yet move last year's out to somewhere else?

Sorry, Barclays - I never thought much of you anyway. All this has done is ensure I won't lend you another penny until you employ some grown-ups.

bertsilver

I have a issue 2 with Barclays, if I cant transfer it to issue 3 should I keep it or take the money out and close it, then open a issue 3 in April with that money?

blueberrypie

bertsilver wrote: »

I have a issue 2 with Barclays, if I cant transfer it to issue 3 should I keep it or take the money out and close it, then open a issue 3 in April with that money?

If you do that, the funds you put into a new ISA in April will be considered part of your 2011/12 allowance.

Better to transfer it (using the ISA transfer process) to an ISA which does allow transfers in.

hethmar

Im in the same position - they misled me a bit with the ISA last year, I thought I was transferring into the Golden 2 but they actually closed the first account and then put the money in My fault for not being on the ball.

I think Ill move my 2 to the Nationwide 3 year ISA.

bertsilver

blueberrypie wrote: »

If you do that, the funds you put into a new ISA in April will be considered part of your 2011/12 allowance.

Better to transfer it (using the ISA transfer process) to an ISA which does allow transfers in.

I also have a ISA with Halifax, can I transfer it to that, even though I have the full amount in the Halifax ISA.

oldfella

burnoutbabe wrote: »

if you already are a barclays customer, then opening it online takes 5 minutes and it works fine.

I'll open mine 6th April, as already have a golden 2 for this year.

is funding transferred immediately online, or handled by backoffice ?

jimbow25

A._Badger wrote: »

Complete madness!

So Barclays expects me to lend it fresh money for year's ISA allowance, and yet move last year's out to somewhere else?

Sorry, Barclays - I never thought much of you anyway. All this has done is ensure I won't lend you another penny until you employ some grown-ups.

Well no-one is offering anything like 3.25% on transfers in.

It's common for providers to put this restriction in - they pay a good rate but only for 1 year and only for a maximum of 2 year's ISA allowance, to anyone (if you pay in before and after 5th April) i.e. about 10k as opposed to the 50k+ that some people would be able to transfer in.

This is at least the 5th year in a row a product along these lines has been launched by Barclays. You'll find its predecessors (Tax Beater ISA, Tax Haven ISA and Golden ISA issues 1 and 2) have rates that have all lost their 1 year bonuses and their rates will slowly have dropped to poor levels for anyone who left the money there. Santander's market leading ISA is exactly the same.

Anyone who wanted the best deal out of any of those products will have transferred out after a year. If don't think it's a good deal then fair enough but I don't think it's a trick, nor are they being childish.

Lokolo_2

bertsilver wrote: »

I also have a ISA with Halifax, can I transfer it to that, even though I have the full amount in the Halifax ISA.

Yes, as long as the ISA provider to whom you want to transfer to, accepts transfers in, Transfers do not count towards your annual ISA allowance :j

Edit: Barclays Golden ISA 3 does NOT accept transfers in. So NO if you wanted to transfer to Barclays.

Lokolo_2

oldfella wrote: »

is funding transferred immediately online, or handled by backoffice ?

Immediately online ONLY if you are an existing Barclays customer, as then you can use online banking to use one of your other accounts to fund the ISA.

Dalkirst

Can someone explain this a bit better for me please.I have been looking at this golden isa issue 3 for some time now as my partner was given £5000 from her nan.The thing is she doesn't want to put it into somewhere she can't get to so my questions are

1.Can she take the money out at a moments notice
2.If she puts the whole 5grand in how does the interst work is it paid monthly and at what rate(i told you i know nothing about these things)
3.The money is sitting in the current account at the moment so i believe we just transfer it over?

We already use online bankung with Barclays using our current and savings accounts so that's ok.

Thanks