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

morg_monster

i can't believe these jokers!
After numerous calls and letters I finally (17 May) got a detailed reply to my complaint, assuring me the application was cancelled, apologising and offering £20 as a goodwill gesture. Hurrah, i thought, the saga is finally over.
Not so - today I come home to a welcome pack with my account details.
Rang the 0800 number (think i should put it on speed dial!) and the guy couldn't help me BECAUSE HE COULDN'T VERIFY WHO I WAS!!!! He suggested I write cancelling under the 14 day rule ASAP. i told him I had already done this twice but it was his only suggestion.
Unfortunately according to Barclays the account opening date is 25 May (another mistake it should have been 6th April) which means I had better get my skates on to get in by 14 days.
I'm going on holiday in a matter of hours!! ARGH! I have had to handwrite a letter to them (no printer) and enclosed the original letter received today, can't do a copy because have no scanner or copier either. Spent 20 miins on the phone when I should have been packing.
THink I'm going to scream.... I can't believe these idiots. Why can't they do ANYTHING right.

trinidadone

I just got off from the complaints section of barclays. i was advised my cheque had cleared on 4th june (monday) into my new account (the full 3k) - strange, because my bank account still has the money!!

At least i got the exciting welcome pack (woo wee) which included a piece of paper with my account details on, and how to operate the account. Its also great to have a helpline number on the back, and barclays not answering, mmmmmmmmmmm do you know we will go through this again, in a years time, when we leave barclays, loooooooooooooooooooooovely

ziknik

I applied for the Tax Beater ISA (6.5%), but Barclays have opened the Mini Cash ISA for me (4.96%).

I'm going to write to them and tell them to correct it or close/void it.

Anyone else in the same boat.

6am

My story is here http://forums.moneysavingexpert.com/showthread.html?t=469863

It was not a Tax Beater application, but simple transfer from Natwest. I did not sign an application form, but Barclay went forward and withdrew 12K from my Natwest account. Because I did not sign an application form they did not open an account, so money dissappeared somewhere in Barclay. I made a complain and was told that because of amount of work they have they will be able to look at my complain in two weeks time. So much for instant access to money. The incompetence is breathtaking.

harryhound

ziknik wrote: »

I applied for the Tax Beater ISA (6.5%), but Barclays have opened the Mini Cash ISA for me (4.96%).

I'm going to write to them and tell them to correct it or close/void it.

Anyone else in the same boat.

There was a silly box on the application form - Mrs Hound and the teller in Barclays forgot to tick it. In our case the whole bundle of stuff came back to us about a month later. We ticked the box and sent it back and eventually the account appears to have been opened as originally intended.

(I did some postings about Mrs Hound's adventures trying to open her ISA near the start of the thread)

It is now time to start making plans for next March ?

Harry

Joscar

I called Barclays to ask about statements as I do not have online banking with then and it seems crazy to have to open another current account just to know what my interest is every month.

Anyway they told me the balance - interest added is what I calculated it should be if back dated to the date I handed in the application, £29.

They have ordered me a statement to be posted to me but said normally I would get a statement by post every 6 months.

trinidadone

I have received a statement from Barclays today with a total sum of £5,900. very strange, because you can only submit 3k and past ISA years can not be credited. I worked out Barclays had credited a canceled cheque i gave them with my application form. The first cheque was cancelled because barclays had lost it.

I have now been advised i have 3K in the account. I asked about interest, the guy told me I had earned a few pounds which did not seem right, especially as I opened the account on 5th April 07.

I have now been credited with 30 odd pounds. The interest is added on the 1st of each month, on a monthly bases. if you submitted the full 3k, expect about £15.00 per month interest.

I also enquired about viewing the account online, and was advised to register on their homepage. Tried to register but cant because you need a 16 digit card number, which you dont get with the account.

mmmmmmmmmmm maybe this facility is for bank account barclay cumstomers only.

I asked for a new statement to be sent. I want noithing to do with them once my ISA matures next year. I really dont think they are a good bank, and dont buy the argument they were inundated. How long has barclays been around for!!!

I do urge people to check with barclays on the interest credited, and request a current statement. The complaints section is far quicker to deal with, than the ISA helpline which dont take calls.

SarahNeedle1872

Gave a cheque into my local branch on Mon, so will be interested to see how long it takes for them to sort that out! The woman at the counter looked blankly at me when I handed it over!

Sarah x

bristolleedsfan

Joscar wrote: »

I called Barclays to ask about statements as I do not have online banking with then and it seems crazy to have to open another current account just to know what my interest is every month.

Anyway they told me the balance - interest added is what I calculated it should be if back dated to the date I handed in the application, £29.

They have ordered me a statement to be posted to me but said normally I would get a statement by post every 6 months.

im not sure y its neccesary to have statements every month just to see how much interest has been paid, the more costs barclays incurr the more chance their is of them not passing on future rate rises

even if u had 3000 in at the start it would earn 16.40 a month ( is this something u need to have confirmed every month) if u leave the interest added to the account it will earn a few more pennies every month ( around 9p) xtra the following month and so on and so on

Joscar

It was the first months interest I was concerned about as the opening date in my letter was some time after I opened the account. Now that I know they backdated the interest OK I'll be happy with paper statements twice a year.