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

Compound_2

Voyager2002 wrote: »

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.

I’m sorry but the advisor has told you a load of rubbish. The application form was very clear that the only way you could open the account was by a personal cheque drawn from an account in your name, or transfer from a BARCLAYS account.

There is no way that Barclays could debit funds from a NatWest SAVINGS account. Another poster with a non-cheque NatWest account was unable to open the Barclays ISA. Even if NatWest had written a cheque (which they were unwilling to do) it wouldn’t have shown the customer’s name. You needed to have opened with account with a personal cheque, then arranged to transfer the money yourself when the ISA was open. It's too late now to top up for 2006-7.

magoo73

I went into local branch on 26th March at 3.00 pm, armed with Completed Form, ID and Cheque for £3,000. Said I wanted to open an ISA for 2006/7.

Was told I had to see an adviser and would have to wait. Said I didn't particularly want to wait too long the response...

"How long would you like to wait?"

"Well not at all if possible" (??)

Got the forms checked over straight away by an adviser who then said these would be sent off that day.

Here we are 10 working days later and the cheque still has not been cashed. I have been into the branch and telephoned and got nowhere - apparently there is a "back log". Some might think their application is lost - not me though!!

Never used Barclays in the past and never will again.....

Innys

This is a message for Martin.

Given the less than impressive customer service provided we seem to have received from Barclays on this product to date, would it be worth downgrading it from its main pick status?

If you don't want to prejudge the issue, perhaps it is worth suggesting people open up an account with a nominal sum and then transfer the balance when the account number and sort code have been supplied.

jimbo_the_jetset

I'm an existing Barclays customer (well sort of, i've got an open account but I use A&L day to day) and I thought my application would go through no probs, printed off the form and dropped it in at the local branch.

Only thing is, I was expecting to see my new isa account on my online banking and have the funds transferred as arranged on the 6th April. Yet still no sign on my online banking and the funds are still on my current account? My girlfriend is in the same situation. Just wondering if anyone else has got this prob? Are they backlogged or is it safe to assume they've stuffed up?

It's a bit poor though if you wanted to earn your interest as of the 6th, which is the date when it said the account would open and then they don't open it for x days/weeks/months after that!!

Apologies for jumping to the end of the thread, I've now read the other posts and see I'm not the only one.

Compound_2

jimbo_the_jetset wrote: »

I'm an existing Barclays customer (well sort of, i've got an open account but I use A&L day to day) and I thought my application would go through no probs, printed off the form and dropped it in at the local branch.

Only thing is, I was expecting to see my new isa account on my online banking and have the funds transferred as arranged on the 6th April. Yet still no sign on my online banking and the funds are still on my current account? My girlfriend is in the same situation. Just wondering if anyone else has got this prob? Are they backlogged or is it safe to assume they've stuffed up?

It's a bit poor though if you wanted to earn your interest as of the 6th, which is the date when it said the account would open and then they don't open it for x days/weeks/months after that!!

Barclays won't date anything for 6 April because it's not a banking day. 10th is the best case scenario. I didn't get any backdating but they only held up my cheque/application for a few days. By paying interest on cheque from day of credit, I more or less earned interest from when the cheque should have been debited had they not delayed.

bristolleedsfan

Innys wrote: »

perhaps it is worth suggesting people open up an account with a nominal sum and then transfer the balance when the account number and sort code have been supplied.

precisely what i did submitted application with 1.00 cheque, will transfer rest when i get sort code and account no, seemed a prudent course of action :cool:

magoo73

I though I would wait for the "Great Deal" before the end of 2006/07 tax year but the reality is I may well have lost out on the tax benefits now if the application has been lost. Would have been better off getting 5.5% tax free than nothing. So I have learnt my lesson to wait until 22 March to open an ISA - had to wait for my "bonus" anyway but already had one for previous years with another bank so would have been simpler to have opened one with them.

From what I am hearing it would seem Barclays did not anticipate the demand and as a result there is a huge back log. Sound familiar... TalkTalk "free broadband".

Maybe I am just frustrated.....

If you are lucky enough to have opened one for 06/07 can only imagine how easy it will be to transfer out in 12 months time when the ISA bonus disappears!!

gelato_cat

Same here, although my £2999 is only earning 5% in my halifax websaver

Suze

bristolleedsfan wrote:

precisely what i did submitted application with 1.00 cheque, will transfer rest when i get sort code and account no, seemed a prudent course of action :cool:

Yazza

magoo73 wrote: »

I went into local branch on 26th March at 3.00 pm, armed with Completed Form, ID and Cheque for £3,000. Said I wanted to open an ISA for 2006/7.

Was told I had to see an adviser and would have to wait. Said I didn't particularly want to wait too long the response...

"How long would you like to wait?"

"Well not at all if possible" (??)

Got the forms checked over straight away by an adviser who then said these would be sent off that day.

Here we are 10 working days later and the cheque still has not been cashed. I have been into the branch and telephoned and got nowhere - apparently there is a "back log". Some might think their application is lost - not me though!!

Never used Barclays in the past and never will again.....

I had a very similar experience, but when I went (to open for the 06-07 year) to the main branch in Leicester City Centre I was told that I would need an appointment, but that NO BRANCHES in the entire country would have any available slots. This was more than a week before the deadline. The advisor seemed so sure of himself, even though right next to him were FOUR advisors all nattering away with each other, doing nothing at all. Rather than make a scene, I phoned Barclays and got through to my local branch and they had plenty of available slots. I went, with all my details, and their computer system had crashed! Eventually I was able to sign on the dotted line, after giving away various personal details for a credit check ("do you currently have breakdown cover?"), and being told that unless I opened a current account there was no way I could open an ISA. Until, that was, I underlined on the form the payment option of "cheque". Fair play to the advisor who was trying to increase her statistics
The cheque still hasn't been cashed though...I hope that the ISA goes through for the 06-07 financial year...

Joscar

Fred_Bear wrote: »

There is no pattern that I can see, but strangely she has received some phishing emails in the last few days: several from Paypal saying someone has accessed her Paypal account from abroad (but she has no Paypal account) ...............

I had a phishing email that appeared to be from paypal claiming their had been many attempts to access my account so I needed to provide additional security data for it to be reactivted. I have never had a paypal account, I forwarded the email to paypal using an address on their website, they confirmed it was fraudlent, I assumed it was probably random.

....sorry I know this is supposed to be about barclay's ISA