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

Kazza242

Kazza242 wrote: »

I've just spoken to Barclays customer relations about my ISA interest not being backdated to the date my application was received... He had ran down to the ISAs department to check with them... They told him that ISAs for 2007/08 that were officially opened before 27th April 2007, will have had their interest backdated and credited on May 1st. According to them, they run some sort of process which does it. He said that he was told that accounts opened after the 27th April will also have their interest backdated after the process is run on 29th May. It will then be credited on 1st June.

Looks like the info from my post (see quotation above) about them credited the backdated interest on June 1st was correct then. Like others, I've been credited the backdated interest they owed me (just over £29). Excellent! If they'd only communicated what they intended to do a bit better, they wouldn't have received such negative comments.

Well done Barclays for actually backdating the interest when you told me you would.

Sam_84

Received £29.56 backdated interest today. Very pleased to see that come through. Though my partner won't be able to check their account as no online capability (not a Barclays current a/c customer).

I agree with Kazaa, Barclays have not communicated at all well with this product. Better comms (and giving a proper receipt as I mentioned in a previous post) would have alleviated many of the issues.

Credit to Barclays for increasing the interest rate though - I did wonder if they would do that. It's been updated on their website to show AER of 6.76% from 1 June 2006.

Like others, I am concerned about what will happen next year when people look to potentially transfer out (depending on the rates available at the time). I hope Barclays will make sure that they have enough staff - it's not as if they won't know how many people are coming to the end of their 12 months!!!

TTFN

Sam

Innys

WRT transferring out from Barclays, don't ISA providers have to turn round transfer requests within 30 days, by law?

Granted most providers delay the transfer as long as possible anyway, but Barclays can't use the old "overwhelming demand" excuse when it comes to people cashing in their ISAs next year. If they do, I think the Ombudsman may be getting a few complaints...

merlinthehappypig

Mine is odd. I handed the forms in on 3 May. Accounts were opened on 18 May according to the letters we got. Interest credited today is £22.30 (on £3000) which is higher than it should be, even if backdated to 3 May. I'm not complaining, but it is odd, unless someone can explain it. Works out at a rate of almost 9% even if backdated.

carpy

i got £29.52 interest which seems about right.

added to my £0.05 for the last day of April !!!!!

total = £3029.57

like others i'm dreading next year when i'll be wanting to transfer out!!!!

i'm having enough trouble this year.....banging my head against a brick wall with A&L !!!!!

ED

6.56% gross interest on Tax Beater Cash ISA with effect from June 1st now finally announced on Barclays website. That's 6.76% AER - not bad!

MiserlyMartin

Even when you do have online access its still not very informative. It only shows 'recent transactions'. Theres no way of seeing a proper statement of the accounts or anything like one. Still to hear from Barclays regarding my complaint. Communication is terrible with this lot. Though its great news about the rate move though. I'm surprised about that. Must give them credit for that.

TomsMom

carpy wrote: »

i got £29.52 interest which seems about right.

added to my £0.05 for the last day of April !!!!!

total = £3029.57

like others i'm dreading next year when i'll be wanting to transfer out!!!!

i'm having enough trouble this year.....banging my head against a brick wall with A&L !!!!!

Hi Carpy

Can I ask what the problem is with A & L.

I am in the processing of transferring £9000 out of A & L Issue 3 ISA into Abbey's Direct ISA and had a letter from Abbey today that says "your request to transfer your ISA has been sent to your current ISA provider". I did tell Abbey when I was in the branch that according to A & L's website, in the FAQ section, it says that transfers need to be done by me by dialling an 0870 number to give the details and I was told that Abbey could do it and had not encountered any problems with A & L before (that was the Abbey branch in Llandudno) .

trinidadone

was told by the helpline today, that my isa account is now open 9supplied me with sort code and account number) but he could not tell me why my 3k cheque had not been cancelled, which was given in with my application form on 3oth March 2007. he did say all accounts must be in operation from tuesday, mmmmmmm. I think barclays sucks!!

SarahNeedle1872

Sam_84 wrote: »

Received £29.56 backdated interest today. Very pleased to see that come through. Though my partner won't be able to check their account as no online capability (not a Barclays current a/c customer).

I agree with Kazaa, Barclays have not communicated at all well with this product. Better comms (and giving a proper receipt as I mentioned in a previous post) would have alleviated many of the issues.

Credit to Barclays for increasing the interest rate though - I did wonder if they would do that. It's been updated on their website to show AER of 6.76% from 1 June 2006.

Like others, I am concerned about what will happen next year when people look to potentially transfer out (depending on the rates available at the time). I hope Barclays will make sure that they have enough staff - it's not as if they won't know how many people are coming to the end of their 12 months!!!

TTFN

Sam

Hi Sam, I know this is a silly question, but how will ur partner check their account with no online access? Is there a number to call?

Sarah x