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

owen-b

I went in on 3rd April to apply for the 07/08 ISA.

This week I got my application (well, page 1 and 3 of it) sent back to me with a letter saying that standing orders weren't allowed from the account I named as the source (my current account with First Direct). Well that's rubbish, unless there's something they're not telling me. They said please update Section Five of my application and resubmit by the 8th of May or they wouldn't be able to open my ISA.

Well first of all, the letter states that this is regarding my 2006/2007 ISA. Erm... I wanted an 07/08 one actually guys! My application form CLEARLY (it's printed off the net) states that the ISA is to start on April 6th, 2007.

Secondly, Section Five is on PAGE TWO, which they didn't send me. Classic.

Thirdly, there's no way I can get in touch with them as the number for the ISA Help Desk just tells me to call back later because they're so busy (doesn't even put me in a queue, and plays that message no matter what time of day I call).



EDIT: Just got in touch using the 0800 number (thanks!) and a lovely lady said that the ISA people have screwed up. She said send it all back and make it very clear that they've tried to open the ISA for the wrong year, there is no problem taking standing orders from First Direct accounts so what's that all about, and please can they sort this out and backdate all my interest once it's done.

So I will.

morg_monster

The people on the 0800 number are really nice. Both I've spoken to seem fairly disparaging of their employer... one said "its always busy this time of year even without a new product, why they didn't think to put more resources in place this time I don't know..." And when i said I was going elsewhere "I don't blame you, its a total shambles isn't it..."

whoosh

Just for info, I opened my 06/07 ISA with £3,000 a couple of weeks before the deadline, and when I asked for a receipt from the Holloway (London) branch, I was told "we don't give receipts". Unsettled by this for all the obvious reasons, I asked for an email to be sent asap confirming the receipt of the deposit. On remembering that this hadn't been received on Apr 5th, I called Barclays and was promised a return call, which didn't happen. I felt that this was a waste of my time and energy for a completely reasonable request, especially given the fact that this was a decent slice of first-time business I was giving to Barclays.

I made a formal (but verbal) complaint. Customer Services called back after a week or two and agreed to reimburse me £10 to cover the cost of calls to chase up my receipt (they were at that point still unable to confirm receipt). I said that this did not cover the hassle and uncertainty I was still experiencing. So the lady I spoke to asked if a hamper would assist me. I agreed that it would, so a cheque for £10 plus a reasonable hamper (delivered by next-day courier, containing wine, shortbread, relishes and so on) duly arrived. The lady I spoke to said that the branch was wrong to refuse a receipt at the point of sale, and that they would be so informed.

The £3k still sits in my First Direct cheque account, but I now have a response letter from Barclays confirming that I invested in the 06/07 tax year, and that interest will be backdated to the release date of the ISA (rather than the date I opened it), which gives me a week or two free interest.

I also had a couple of calls from local branches updating me on their progress in processing it, most recently Holloway, although that was about 10 days ago and the money remains untouched.

So basically, if you don't like your own timely investment strategy being jeopardised by crappy administration, then complain. I didn't have to battle at all. I guess my hamper represents the loss of jobs for several investment bankers, which sticks in my gut somewhat, but the strawberry preserve was really nice.

JCL

Not quite as bad as others on here then. Applied in person at the Edinburgh branch on 12 April but not heard anything. The lovely lass did say it would take 15 working days so that's just about expired. The £100 cheque hasn't been taken from my bank yet and no sign of the monthly standing order. Will give it another few working days and then contact them.

JeremyZerg

I guess my hamper represents the loss of jobs for several investment bankers, which sticks in my gut somewhat, but the strawberry preserve was really nice.

I vote this post the most humorous yet seen!

(Complaining is great. I stood in a Vodafone store, moaned about the lack of transparency in their charging structures and received £20 as a "gesture of goodwill" for my troubles. Wins!)

Woodyrocks

oscarhugo wrote: »

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?) ?

Opened my ISA with £3000 in branch on the 19th of March and as of yet have still not heard a thing. I have posted in Kazza's ISA thread about this a couple of times. Also sent a further £3000 by recorded delivery in April for the current tax year to the Liverpool address as advised by an 'advisor' with a cover note. And of course still haven't heard s***. Have been in the Croydon branch on numerous occassions about this whole sorry affair. Forget the prize, I feel like a prized mug :mad:

bristolleedsfan

Woodyrocks wrote: »

Forget the prize, I feel like a prized mug :mad:

:rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl:

what i find incredulous is that barclays bank have never withdrawn the product at any time to give them chance to catch up, they must believe that gaining all the profiles of new customers is worth whatever its costing them

http://www.barclays.co.uk/isa/

harryhound

My theory is that Barclay's needs the money for their "ABN..........." adventure,
cheaper than giving a slice of the action to their hedge fund friends ? Their loss could be your gain.

tkane

Hi, this is slightly off topic but this seems like the right thread for my query instead of having to start a new thread. Basically, I was just wondering whether it would be worth holding out for a month or two and wait to open an ISA for better rates since the MPC are almost certainly going to rise rates next week? Are banks likely to reacr quickly to the MPC's decision or is it not worth the wait? Thanks.

mary

Woodyrocks wrote: »

Opened my ISA with £3000 in branch on the 19th of March and as of yet have still not heard a thing. I have posted in Kazza's ISA thread about this a couple of times. Also sent a further £3000 by recorded delivery in April for the current tax year to the Liverpool address as advised by an 'advisor' with a cover note. And of course still haven't heard s***. Have been in the Croydon branch on numerous occassions about this whole sorry affair. Forget the prize, I feel like a prized mug :mad:

My money was in Barclays current account from April 5th, sent downloaded form on April 5th by Recorded Delivery and money was transferred out of current account to the new ISA 07/08 account on 2nd May. I have since been told that the interest will be backdated and they are being done in batches. So far no notification in the post but it is visible online.