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

jointheclub

Don't forget that the interest is paid monthly on the Tax Beater so you won't get it on the account until the first working day of each month., You won't know how much until the first monthly payment gets credited and then you'd be able to see whether the interest adjustment has gone on or not.

jointheclub

Cobertizo wrote: »

How did you go about trying to pay it in? You certainly can pay in cash over the counter once the ISA is open, since I did it a few weeks ago. I just filled out a paying in slip in the branch with the account number and sort code as usual, walked up to the counter and let them get on with it. I have read a few comments from people suggesting that if you ask the cashier whether you can pay in money to your ISA then they get all confused and have to check/say no, so it might be worth trying the confident sneaky approach and just giving them the money and a paying-in slip without a word...


@ jointheclub - when I applied online, all it did was to generate a form which I had to print off and sign. Since I have an old Barclays current account, I could send the form off by post, but I understand that if you are a new customer then you need to take the form you have printed off into a branch with some ID.

Oh right, is that the same when you open an ISA with Egg on line, a few people seem to have done that.

Cobertizo

jointheclub wrote: »

Oh right, is that the same when you open an ISA with Egg on line, a few people seem to have done that.

I'm not entirely sure about the situation with Egg. It says this on their website though:

"Information to prove your identify
By law we are required to check your identity and address. We do this in different ways including making searches of public registers using information provided by you ie name and address. In some instances it may be necessary for us to request further documentation from you in the form of utility bills and/or bank/credit card statements. In those cases we will let you know exactly what we need from you. Please note, the public registers we use are not available between midnight and 6am, so please don't apply between those hours."

From that it looks like the entire process can be done online, assuming that sufficient detail is found on their "public registers" (which is probably something like the electoral roll).

MSE_Martin

Just a note that the following is going in this weeks email

Best Buy Cash ISA 6.5% Barclays Updated: Processing is slow but you won't lose interest
A cash ISA is effectively a tax-free savings account you can put up to £3,000 a year in, and everyone who has savings should consider it. The current top pick is the Barclays Taxbeater cash ISA, yet Barclays admits it's been swamped and has some big delays processing applications. Importantly though it promises it will pay interest backdated to when the application form was handed in the branch, plus anyone who handed in forms for the 2006-7 tax year will still get it for then. Overall this means nothing lost, but if it worries you, the next top pick is the Egg Cash ISA* at 6.05%. Updated Article: Best Cash ISAs (mini-mutterings) Related Articles: ISA Guide, Where To Start Saving, Instant Access Savings

oscarhugo

MY £3k cheque posted to Barclays on 28th March still hasn't been cashed.

What's the earliest anyone's sent & still not heard anything (and is there a prize for the winner?) ?

TheDink

Posted on 27th March and have heard nothing yet. Cheque has not gone through on my current account, and no ISA is showing on my Barclays online banking. They haven't responded to my complaint either.

Spiggle_Bum

Applied via local branch on 23 March with application printed via web.

Yesterday collected an envelope from my local Post sorting office due to underpaid postage containing my application, copies of identification, cheque for 3K & an internal bank memo asking the local branch to set me up on there system before sending it to there ISA office.

It appears that this should have been sent back to the Branch & not me (with underpaid postage !).

Have now been back to branch & have recieved many apologies - apparently it will still have the interest backdated.

This is the first time I have ever had any dealings with Barclays - I think it will be the last !!

Pound

When I was in Barclays opening the ISA I realised my chequebook had no cheques in. Guy said to put the form in the post along with the cheque when I had it and it would be processed for the 06/07 year. Felt a bit unsure that that would happen.

I put the cheque in with the form a bit later, posted it. Three weeks later the form comes back to me tell me I didn't enclose a cheque so the application couldn't be processed, although it did tell me as long as I got it sent in within 5 days of the date on the letter (the following day) they would process it as being in the 06/07 tax year.

Quite surprised that Barclays are still going to accept my cheque dated 24/04/07 for a 06/07 ISA. But whatever, cheque has been firmly stapled to the form and posted back to Barclays.

grahalex

I Don't have a Barclays current account, so how do I pay money into this isa ? Do you get a paying in book?

jointheclub

To pay into it there are a few ways. you can phone the savings phone number 0845 603 0845 and transfer themoney from one of your other Barclays accounts, send a cheque or pay cash into it at a branch or you can set up a standing order of you wanted to