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

magoo73

3 weeks...

No news...

Cheque still not cashed.

ISA hotline engaged!

Branch are useless!!

Barclays.... :rotfl:

ED

hereford - LLoyds TSB also pays 4.17% gross interest from the day of deposit of cheque(s) up to £1,000 total. In the Budgeting & Current Accounts forum, here, ejones has mentioned other Lloyds interest-earning 'extras'. Quite recently I started exploring Lloyds TSB facilities - quite impressed. Visiting the site daily, currently, ever hopeful Barclays will actually take my funds for the Tax Beater ISA, and open the wretched account!

oscarhugo

Suzey wrote: »

Hi all

I've decided to ditch Barclays and have just opened an Egg account. I'm not confident I'm going to hear from Barclays any time soon and don't want to leave my £3k with the Halifax while they pull their fingers out.

Egg account took two minutes to open and with any luck my £3k will be with them by the middle of the week. I'm glad I only gave Barclays a cheque for £1!!!

Suze

But...doesn't that mean you'll've opened TWO ISAs in the same tax year, Suze...?

I opened [or have tried to] a Barclays ISA by post shortly before the end of the last tax year - since when I've heard bvgger all about it & my cheque's not been cashed. I managed to get to speak to an advisor in Harpenden branch & she said there's a backlog because they've had "trillions" of applications. Let us all hope they're more efficient at transferring out at the end of the year's bonus...

gelato_cat

My Barclays one isn't open yet When they finally get around to doing the admin and writing to let me know my account details, I'll cancel as is my right under the 14-day rule.

OR

When they come to open it, they'll find I already have an ISA with Egg and won't open the Cash Beater one.

Suze

oscarhugo wrote:

But...doesn't that mean you'll've opened TWO ISAs in the same tax year, Suze...?

MiserlyMartin

ED wrote: »

Wish I hadn't rushed to take out the Barclays Tax Beater and transfer-out of many past years' Cash ISAs to another provider. With the 0.30% Inflation rise announced today (3.1) perhaps May 10th will see a 0.50% Base Rate rise.!

I'm hoping for 0.5% too. Don't think it will happen in one go though. I read the letter from the MPC to Gordon Brown and they consider this 'shock' rise to be a blip. They expect CPI to ease once lower energy prices are factored in but I can't see it myself. I'm expecting further upward pressure on CPI due to GB's 1.5% recent and 2% fuel duty increase annouced in the budget and rising oil prices. I think they'll have to carry on raising rates. I think 5.75-6% by Xmas.

gelato_cat

Here's hoping

Suze

MiserlyMartin wrote:

II think they'll have to carry on raising rates. I think 5.75-6% by Xmas.

gelato_cat

I had a similar problem. I'm not confident Barclays will backdate interest - just getting the accounts open seems to be enough of a headache for them!

Suze

MiserlyMartin wrote:

This problem with Barclays is proving to be very inconvinient. I have the £3000 for the ISA sitting in my Flexaccount earning an amount of interest but I also have many other bills and things to pay for and I need to cover this. If I don't leave about £6000 in total there, the cheque will bounce past my overdraft when Barclays finally draw it, who knows what excessive charge I'd have to pay if it got drawn the same day mortgage and other bills leave the account.

Problem is Nationwide don't pay any interest over £3000, so backdated interest had better happen at Barclays.

My financial life is effectively on hold until Barclays draw that Cheque.!!

MiserlyMartin

Suzey, do you think that Barclays would be that efficient to actually check if you have opened another ISA in this Tax year? I'm thinking of opening an Egg ISA too. I am very cheesed off with Barclays.

fablad75

Suzey wrote: »

I had a similar problem. I'm not confident Barclays will backdate interest - just getting the accounts open seems to be enough of a headache for them!

Suze

They had better! I've been assured by their staff - admittedly this isn't saying much, but still! I'll be raising hell at my branch if I should find out otherwise.

gelato_cat

I think they check against HM Revenue and Customs records using your NI number. Doesn't bother me one way or the other, I can't say I'll be too upset if they find themselves with even more admin to deal with!

Egg ISA took two minutes to set up. I opened it on Sunday with my debti card and the money left my current account today.

Suze

MiserlyMartin wrote:

Suzey, do you think that Barclays would be that efficient to actually check if you have opened another ISA in this Tax year? I'm thinking of opening an Egg ISA too. I am very cheesed off with Barclays.