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

abunchofletters

TomsMom wrote: »

From Barclays website regarding their Tax Beater Cash ISA:

If you have received your account details you can add to your initial deposit by transfer from another Barclays personal current or savings account in your name at any of our branches, by phone and by post. Alternatively you can send us a cheque in the post using the freepost envelope provided in your Welcome Pack.

I know it doesn't mention BACS transfers from other banks, but both hubby and I successfully did BACS transfers from our A & L current account into our Barclays Tax Beater ISAs. BACS set up 15th May, we have print outs from Barclays branch showing new total on 18th May.

Excellent news, I will do a BACS transfer for the rest next payday! Thanks for the reply.

bristolleedsfan

abunchofletters wrote: »

Excellent news, I will do a BACS transfer for the rest next payday! Thanks for the reply.

i successfully transferred funds via BACS from a building society account when i finally received my account details through.

evab_2

HI, Went to open an ISA at my local branch in March, didn't hear anything until a couple of weeks ago got called in but bloke didn't know why. Just opened a letter today saying that my application is invalid and they returned my cheque.

Absolute pants, won't be going with them again!

bristolleedsfan

evab wrote: »

HI, Went to open an ISA at my local branch in March, didn't hear anything until a couple of weeks ago got called in but bloke didn't know why. Just opened a letter today saying that my application is invalid and they returned my cheque.

Absolute pants, won't be going with them again!

did they say why the application was invalid out of interest ? Did u lose out on much interest during the delay in them returning the application ?

evab_2

no just a standard letter no details of any reasons why it was invalid. Luckily only £50 for deposit but have now lost 2 months of new years interest if I had sorted out another one.

Am going to apply for an Egg Isa instead

two_man

evab wrote: »

HI, Went to open an ISA at my local branch in March, didn't hear anything until a couple of weeks ago got called in but bloke didn't know why. Just opened a letter today saying that my application is invalid and they returned my cheque.

Absolute pants, won't be going with them again!

I have had a similar response. On Friday I recieved a letter saying that my application was invalid and returning my cheque. I applied at a branch in March for a 2006/2007 Tax Beater ISA. After a month of no news I called their ISA 'helpline', to be informed that my application had been lost. They sent me a new application form and assured me that they would still open a 2006/2007 ISA and backdate the interest.... More time passes....I made repeated calls to enquire as the progress of my application, but they were unable to give me any information. Now this turns up.

I am inclined to walk away, but really don't want to lose my 2006/2007 ISA allowance.

markus

i have 2 of these cash isas , has anyone had an incorrect payment submitted to their isa .

on another bb a poster has mentioned this ?

mattiker

I'd just like to add my story...

Decided to open one of these cash ISA's with barclay's. Went into the branch 2 weeks before end of tax years. I was assured it could all be opened and my £3,000 would be put into the account, interest back-dated, thus using all my ISA allowance for last tax year.

Lad in the bank helped me fill in the forms etc...stappled my cheque to it and said he'd send it off.... some weeks later, the application failed, they tell me that there was no cheques with the application form. The local branch apologise and tell me they will send it off again with my newly written cheque...and this this time it will be all ok and I'm still ok regarding my ISA allowance and back-dated interest - fine I thought. 2 weeks later, appliaction form is sent back again, turns out the lad in the branch missed out some security audit or something....I return to the bank to resolve this, they apologies for the mistake and re-submit the application with the corrections. Yesterday, I get through a letter telling me that the application is completely rejected due to deadlines set by the goverment. :mad:

I'm pretty angry about it now, after being promised it would be sorted out. I've just got back from the branch where I've raised my complaint, the attendant is going to talk with the manager to see what can be done. Anyone got any ideas on what I should expect as compensation?

The way I see it- if I opened the account with my full allowance (£3K) for last tax year and left the money in there for the rest of my life, and each year I used my full allowance (adding £3K), at 6% interest - I've been done out of about £180 per year for the rest of my life. Is that right, or is it worked out different?

Thanks,

Matt

ericpode

I wrote a letter of complaint a while back that my £3000 had stood in my current account for weeks not earning interest while it waited for them to process it. (I also mentioned that I was annoyed when having phoned them to ask why things were taking so long, I just got a recorded announcement saying they were too busy to talk to me, and then just cut me off).

I've just received a letter of apology saying they were crediting my Barclays Current Account (which I haven't used for years) with £20 as compensation for the loss of interest.

This might be worth persuing if anyone else has been in the same situation.

Their letter also said that "instead of receiveing 60,000 applications we received 500,000 which has caused a considerable strain on our ISA dept"

bcl999

I have just telephoned Barclays about a recorded delivery letter delivered to them on 7 June and have been told that "the mail we are working on today is for the 29th of May"!