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

polomint_2

Today I went back to Barcleys (I had made an appointment as my bank manager had promised to ring and hadnt!!) He said so you want to close your ISA (how can you close something not yet opened I thought!!) I said yes thats right I was fed up to the back teeth of Barcleys and their excuses, he checked to see when i had applied (It was 12/04/07) he said he was surprised that it had not been opened and said this was only the second account he had had problems with yeah right!!! He began to proceed to end the account, I then happened to mention that I had already written a letter of complaint to Barcleys and another one would be following! Any way the next moment he is saying how about he sees if he can sort it all out to keep the account opend and he offered me compo of £20 for loss of intrest and for the hassle!! He said he would ring me with an update! Lets wait and see..:wall: :wall: :wall: :wall: :wall:

treasureirealnds

bristolleedsfan wrote: »

since 16th may barclays have posted info on their website re adding to funds whilst waiting for account to be opened

http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?site=pfs&task=homefreegroup&value=12246

i had same intention as u, its an issue ive complained about im hoping to be compensated

txs 4 that. i was in branch last week having a moan up. said i was a bit cheesed off as i wanted to come in weekly to add to ISA and was losing interest, she mentioned nothing of this.

i feel a complaint letter coming on!!

MiserlyMartin

I don't suppose they will increase the rate on this ISA following the bank move recently? Still waiting for a written response to my complaint about slow opening and not backdating interest. Barclays - they make me mad

bristolleedsfan

treasureirealnds wrote: »

txs 4 that. i was in branch last week having a moan up. said i was a bit cheesed off as i wanted to come in weekly to add to ISA and was losing interest, she mentioned nothing of this.

i feel a complaint letter coming on!!

i got a feeling barclays only started the " additional deposits can be made in branch even if isa has not been opened" since around 16th may and due to people complaining about not being able to top up their isa cos of having no account details, i started complaining on 28th april and nobody told me that additional payments could be made in branch even if account details had not been received

if its any help to u or anyone else heres the nature of my emailed complaint, i think barclays would wait until isa has been topped upbefore they consider the complaint as anyone can say gave u 1.00 and planned to top up to 3000 immediately

this is what i sent them today so is effectively a chronicle of events

"Sent: Wednesday, May 23, 2007 10:33 AM
Subject: RE:complaint - ISA

following eventual receipt of isa account details on 16th may 2007 (
ac no .....) after i provided barclays with an application in advance of the
2007/08 tax year complete with nominal personal cheque of 1.00 value with
intention of moving 2999 into the isa as soon as was realistically and
reasonably possible to do so following easter bank holiday, due to barclays
apparent unacceptable delays in providing isa account details as i prefer
transacting on the first or second working day of a week ie monday or
tuesday i was finally able to transfer the sum of 2999 into my barclays
isa on monday 21st may 2007 by BACS , i believe that i realistically
should have been able to do so on 16th april 2007 at the latest

complete lack of communication from barclays has been stressfull as i was
worried that my application may have become lost in between the barclays
branch and barclays isa office

on 28th april i complained, barclays failed to respond to the complaint
within its own 5 working day timescale promise

on 14th may ( before i had received the isa account opening details) i
complained about my complaint not being answered within the promised time scale

on 16th may on receipt of isa welcome pack i sought for my complaint to be
"chased"

a week on ive still not heard anything re my complaint

barclays have promised that people wont lose out due to barclays self
created backlog which was compounded by barclays still advertising the
product despite having a backlog of applications

ive been disadvantaged due to being unable to move my intended 2999 into
my isa for 5 weeks due to barclays apparent inefficiency the whole
experience wondering if a barclays tax beater isa account would be opened
and wondering when it would be opened

if barclays are unable to deal with my complaint/grievance please let me
know"

MiserlyMartin wrote: »

I don't suppose they will increase the rate on this ISA following the bank move recently? Still waiting for a written response to my complaint about slow opening and not backdating interest. Barclays - they make me mad

i would be suprised if barclays do increase the tax beater isa rate as they have no reason to do being as the rate is already way ahead of most cash isas, barclays may not even be fussed when people start transferring the isa out elsewhere as imo its the new customer "profiles" that barclays have gained by the at this moment in time market leading isa account that is invaluable to barclays.
Only reason barclays would have for increasing the tax beater isa rate is to avoid further negative publicity imo

QUOTE=polomint;5239573] I went into my local branch today my account still hasnt been opened although i submitted my application in on 12/04/07!! I can not add funds as i dont have a barcleys current account so am stuck i said ok i want to close it then as it has not been opened and i want my money back. I was told I coundnt close it untill it was unopened then i could!! DOHH what are theses people on? I said cant you see i would lose the ability to have a new money isa for this tax year in that case!! I got a little irrate. I said i wanted to see the manager i was told he was in a meeting and that he would phone me today!! YEAH right. So i went over to the woolwich which is where i bank (soon to become barcleys) and was told the cheque was still uncashed!! Where is it sitting I ask myself. So i explained the situation and was told i could cancel cheqque if it was lost. So know i have to try and get proof its lost?

Does anyone have any advice what to do next please?


its now possible to add funds to the isa at a branch even if its not been opened ( branch most log the applications it takes) being as its so long since u applied u might be better off just sitting tight waiting for the isa details to arrive then when it does arrive top up your isa and complain that u was unable to top up your isa earlier, or go to your branch c if u can add to the isa and then complain that u was only aware of facility to top up isa at a branch without account opening details in middle of may and still complain that you was unable to top it up for over a month due to barclays efficiency, even though branch say your isa has not been opened ( u know that anyway lol) if u applied via a branch, branch must have logged all apps they received as its only way additional deposits can be made at a branch even though account hasnt been opened

http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?site=pfs&task=homefreegroup&value=12246

melpomene

I took my forms to the Fulham Broadway branch back in the first week of April & have heard absolutely nothing since!

They haven't cashed my cheque yet either. Was wondering if i should assume they've lost my forms, or wait & see given others' experiences seem to parallel mine.

I'm interested in being credited with the appropriate interest as well obviously. Being a complete ISA novice I was hoping this would all be straightforward & hitchless.

melpomene

...thing is i gave them a cheque for the full £3,000 at the outset...

mrdee0

I went into a branch to open my isa. I said i would transfer 3000 into my current acc and they would then take my momney from there.
The advisor said dont worry by the time it will be processed the money will be taken and it will all be done before the tax year ends (in two weeks time).

Then she asked if i wanted to transfer another 3k for the next tax year so i said sure ill transfer 6k to my current acc.

Anyway recieve my pack after a long wait and checking onthe website it showed 3k went in way after the tax year and the other 3k sitting in my current acc!

Wrote a letter to complain-today got a letter saying they will backdate my interest. then said due to an oversight at a branch my other 3k could not be sent to my isa and i would need to request it again.

Well ive lots over a months interest on the 3k sitting in my current ac.

On another unrelated matter they dont seem to be good at responding to letters-wrote a letter to cancel a new direct debit payment and they still payed out causing my acc to be overdrawn then charged me for that!!! Ba*****'s

ukdutypaid

As we've seen this ISA has now been withdrawn, therefore this info has now been removed from the site.

However, does anybody have the original leaflet with the weird working out of interest on it
"it's 6.5 but somehow 6.31 really and here's it broken down as a daily %"

The daily rate was of course 0.0 something or other......

Alternatively, how do we work out the interest for back dated payments....
Not one date, nor amount on my statement corresponds to my workings out..

Any body else got the two to tally yet and if so, ermmmm how exactly...

bristolleedsfan

ukdutypaid wrote: »

As we've seen this ISA has now been withdrawn, therefore this info has now been removed from the site.

However, does anybody have the original leaflet with the weird working out of interest on it
"it's 6.5 but somehow 6.31 really and here's it broken down as a daily %"

The daily rate was of course 0.0 something or other......

Alternatively, how do we work out the interest for back dated payments....
Not one date, nor amount on my statement corresponds to my workings out..

Any body else got the two to tally yet and if so, ermmmm how exactly...

i may be wrong my belief is that tax beater rate is 6.31%, interest is paid monthly rather than annually hence the AER of 6.5% because if interest paid monthly is left to accumulate u are effectively getting interest paid on the interest the following month (s) i stand 2 be corrected :cool:

BTman

bristolleedsfan wrote: »

i may be wrong my belief is that tax beater rate is 6.31%, interest is paid monthly rather than annually hence the AER of 6.5% because if interest paid monthly is left to accumulate u are effectively getting interest paid on the interest the following month (s) i stand 2 be corrected :cool:

Spot on.:beer: