Barclays Tax Beater Cash ISA - experiences so far (merged)

suttonsaver

Compound wrote: »

£6000 now earning 6.5% tax-free.

Voyager, if you're transfering the cash, it sounds like you're an existing customer so you didn't need to bother with ID or a branch visit. While cheque deposits can be dated 5 April in the ISA, to backdate a withdrawal/transfer on the account the money's coming from would be extraordinary, turning back the banking clock. Let's hope it's possible to deposit it as 5 April while withdrawing it on the true date.

Just to be clear, Compound - have you managed to open 2 ISAs for the 07/08 tax year? If so, congratulations - you must be one of very few, I think!

exel1966

The only way Compound could have £6K in the Barclays ISA would be to have opened one prior to the end of the tax year and another this week. This weeks couldn't have gone through yet due to the Bank Holiday.
If they've opened two for last tax year, then he'll be getting a refund of £3K sometime soon !!

redtbs

My fiance took out a Barclays Tax Beater Cash ISA for 2006/2007 just before the end of the tax year. He had verified that he had not put any money in an ISA for that year so far.

Two days ago, the full balance, plus the first interest payment was credited to one of his bank accounts and now we can't get through to Barclays on the ISA telephone number. It is constantly engaged and has been for over a day.

Has anyone else had a problem?

Pinklepurr

DH is waiting too. He went to a branch on Weds 22 March and we've still heard nothing. Really annoyed as he provided a cheque for a small amount with the intention of putting in the rest of the allowance before the end of the tax year (as he was waiting for a bonus due at end of March) but he's now missed out on being able to put the full 06/07 allowance in as they've been so slow. With the benefit of hindsight, we should have waited for his bonus and opened the account with the full 3k... you live and learn!

skyepark

applied yesterday, no interview waited in a 30min queue to be finished 5 mins later, am now waiting for my account details so that I can transfer 2999 £ over from my icici HIsave. Should hopefully hear soon.

Compound_2

exel1966 wrote: »

The only way Compound could have £6K in the Barclays ISA would be to have opened one prior to the end of the tax year and another this week. This weeks couldn't have gone through yet due to the Bank Holiday.

2006-7 account opened with £3000, further £3000 added to same account 10 April (all documents received prior to this).

Voyager2002

Compound wrote: »

£6000 now earning 6.5% tax-free.

Voyager, if you're transfering the cash, it sounds like you're an existing customer so you didn't need to bother with ID or a branch visit. While cheque deposits can be dated 5 April in the ISA, to backdate a withdrawal/transfer on the account the money's coming from would be extraordinary, turning back the banking clock. Let's hope it's possible to deposit it as 5 April while withdrawing it on the true date.

No, new customer. The advisor said that we could fund the account by giving details (account number and sort code) of the NatWest savings account where the money is currently languishing. However, he did say that we had to wait for the telephone call from the ISA office, who would then arrange the transfer.

Innys

Just went into the branch as I am sick of waiting.

I was told they have a backlog and it can take up to 3 weeks for the 07/08 account to be opened!!! Plus, the money has to languish in my current account @ 0.1% until then as they can't predict when it will be opened. Thanks for that...

The CS adviser told me that as all applications are date stamped on receipt, the interest would be backdated to the 6th of April. Promises, promises, eh?

Hindsight is a wonderful thing - in future I'll remember to only open it with £1 and then once I have the account details, deposit the remaining money.

miniharry

Hi,

I applied in branch taking ever precaution (making an appointment, geting all my ID together (new customer)

The girl was friendly, but hesitant to give me a receipt - she looked confused that I had asked such a thing and wouldn't blindly "trust" her. I made her photocopy the application form and sign and stamp a seperate sheet of paper saying how much in funds was taken.

I still haven't heard a thing and the cheques have not been cashed.

She assured me also that the interest will backdated to the date of the application.

I have applied for the 2006/07 year with 3K so I can add to it this year.

not heard a thing. grr

calling her soon.

carpy

don't mind how long i wait to hear anything................

as long as the interest is back-dated from 6th April..........

it better had or i wont be happy!!!