Barclays 10% regular saver

Kazza242

mary wrote:

At least now you will be in time to open the new one for 12.5%. I will manage to get in in the last 4 days of February before it closes.

Yes, I know.:D I intend to open the 12.5% account on the 27th or 28th so that my SO can go in from the 1st March. I'm going to my local branch on Monday to make the appointment.

mary

I think I recall with the current 10% that you had to stick to the same date throughout, so if you open it on the 26th/27th therefore, won't your SOs have to revolve around that date, rather than the March 1st, as I don't think you can put in £250 on Feb 26th and £250 on March 1st.

Kazza242

mary wrote:

I think I recall with the current 10% that you had to stick to the same date throughout, so if you open it on the 26th/27th therefore, won't your SOs have to revolve around that date, rather than the March 1st, as I don't think you can put in £250 on Feb 26th and £250 on March 1st.

I think you've misunderstood my earlier post. I was planning on opening it on possibly the 28th Feb, but having the 1st SO go in on the 1st March and the 1st every month thereafter. As I'll be funding this regular saver from income, it is easier for me to set the SO to the 1st as I'm paid on the last day of each month.

loulou41

I thought when you opened you account you have to pay your first deposit. I must be wrong.

Went to Barclays this morning and pointed the date to the Personal Banker. she changed the date from the 4th Feb to 14th, the anniversary and opening of the account and gave me a maturity date of 14th Feb. Told her how could that be, that will mean I will be paying for 13 months, she said I could leave it open and then put 13th Feb 2008, I will not have to pay for the month of feb. Sometimes, I wonder whether they know what they are doing. I should really leave it as it is and then filed a complained.

Milarky

Given that Barclays never actually pulled the original 10% Regular Saver, despite it only initially being offered until May 2006, does anyone have inside knowledge of whether the deadline for opening a 12.5% Regular Saver this time (28th Feb) refers to the product or just the rate?

If you think about it, Barclays has removed their existing 'Regular Savings' account altogether, so that if they remove the 'Regular Saver' too (i.e. 12 months single payments, same date, SO from Barclays current account and current account funded to £1000 per month) they've no equivalent product any longer. Added to that, the training for this product - which is hopefully 'bedding down' at last - now would be wasted. If they don't continue with the offer (like Halifax has with its) they could lose a lot of new current account customers they've attracted - and the other big banks are always coming out with current accounts more with bells and whistles -so the current account market is highly competitive

[I have a suspicion therefore that Barclays will retain the this account - probably not at 12.5%! - beyond this first year... but we'll soon find out if not]

Kazza242

loulou41 wrote:

I thought when you opened you account you have to pay your first deposit. I must be wrong.

No, you don't. Once your account is opened you have 3 weeks to make a deposit between £25 and £250*. Here are the terms and conditions.

* Of course it is best to make your first payment as near to the opening date as possible to maximise the interest earned.