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

altyfc

bristolleedsfan wrote: »

my 2999 is earning 6.3% in scarboroughs regular saver

Don't forget, though... you're being taxed on any interest with this and the other example cited. With an ISA, you're not.

Aaron (waiting for Barcalys to bank 4 cheques... 2 for me for each tax year, and 2 for my wife...*sigh*)

jmfwilts

I took my printed web application form into a Barclays Bank about three weeks ago with a cheque dated 6th April. Took my ID in etc, all seemed to be OK. The cheque was just for a £1. I phoned up on Tuesday asking for my new account details as I wanted to transfer some money in £2999, but they told me that they couldn't give me any details as I had no security set up. They said go to a Barclays branch. I made the 20 mile round trip to Barclays branch and guess what they said they couldn't help, and couldn't even find any account details on their systems. Went back home, called again and was told to post a cheque for the amount to their offices in Liverpool. The money is now sitting in my First Direct account earing a pitful taxed 2%. I can't transfer it to another high interest account as I don't know when they will clear the cheque.

To make things even worse, I closed my Alliance and Leicester ISA from 2006/7 and transferred to First Direct ISA (this seemed to be the highest paying one that would accept transfers). A&L posted the cheque to FirstDirect on 3rd April, but FD say they have not received. Therefore I am receiving no interest on £3800 here!

I sometimes feel we would be better of sticking with slightly lower paying accounts to avoid all this hassle and maybe we would also be slightly better off from saving on lost interest

gogsboy

I went into a branch with my completed form on the 30th of March and cheque for £3k and have yet to hear anything.

When am I likely to and if so by what method, ie do they send stuff out in the post to you?

WeatherMan

I just called them to find out what had happened to my application and they say they are more than 2 weeks behind schedule setting up accounts. They couldn't even confirm my application (sent by the branch) had been received in their locality. Bodes well for the future.....NOT. If it weren't for the high interest rate i'd be out of there like a shot.
WM

dawny10

Went into my local branch today to open one but their 'advisor' was not in so no luck. And no available appointments tomorrow.

I'm really quite annoyed that they don't state on the application form that you need to make an appointment, it's all 'just pop into your local branch with your ID'.

James

Just applied in branch today (12 Apr 07).

I had to ask for a receipt and proof that I'd submitted an application with today's date.

Will keep readers posted

Spoke too soon. Call from Barclays, "can you come in again, we have to see you face-to-face (again)"" Barclays forgot to get my DOB, and ask how long I've lived at my current address. Oh yeah, and I was already on their system although I've never had an account with them. They're looking into this.

skybluesi

Opened my ISA on the 23rd March & hadn't heard anything until today when my current account provider (not barclays) returned my £1500 cheque to me!

Apparently Barclays ISA team sent it to them because they'd recieved it from the branch without any instructions & they couldn't find an account number or address for me!

Pathetic, but I'm now stuck because if I take my business elsewhere then I'll have lost my entitlement for the 2006 tax year.

First time I'd dealt with Barclays & I'm seriously unimpressed

gelato_cat

You don't need an appointment. That's just their way of trying to sell you more stuff.

Suze

dawny10 wrote:

Went into my local branch today to open one but their 'advisor' was not in so no luck. And no available appointments tomorrow.

I'm really quite annoyed that they don't state on the application form that you need to make an appointment, it's all 'just pop into your local branch with your ID'.

gelato_cat

I'd cancel if I thought they could even get that right, but it looks like I'm stuck with waiting for them to get their acts together now!

Suze

WeatherMan wrote:

I just called them to find out what had happened to my application and they say they are more than 2 weeks behind schedule setting up accounts. They couldn't even confirm my application (sent by the branch) had been received in their locality. Bodes well for the future.....NOT. If it weren't for the high interest rate i'd be out of there like a shot.
WM

oldfella

I have lost my patience with this - I sent off the forms for 2007/8 2 weeks ago and havent heard anything. My money is going elsewhere and if they eventually get round to opening it will cancel using the 14 day rule.

Mike