Barclays ISA

mkbowling

Have at last received letter confirming my ISA has been opened on 16 May. This is 3 weeks after I handed my application in to my local branch with cheque for £3,000. This has not been backdated to when my branch received my application, but appears to be when received at the ISA dept.
Martin Lewis said it would be backdated to when I handed my application - anyone else have the same problem?

bristolleedsfan

mkbowling wrote: »

Have at last received letter confirming my ISA has been opened on 16 May. This is 3 weeks after I handed my application in to my local branch with cheque for £3,000. This has not been backdated to when my branch received my application, but appears to be when received at the ISA dept.
Martin Lewis said it would be backdated to when I handed my application - anyone else have the same problem?

a point worth of note i feel to people concerned about date that their isas were opened and whether interest was backdated to when they applied for the isa

Barclays have said that all interest will be backdated to when isa application was made, while its worth making sure that interest has been backdated stated date of opening is in itself no cause for concern

by giving a later date of opening than the actual date of application barclays are both giving people an opportunity ( within isa rules) to cancel the barclays isa if they so wish, if barclays made the dates of opening same as date of application those who decided to open an isa elsewhere would have been miffled that they were strictly speaking out of time to cancel their barclays isa ( within isa rules)

1% bonus is for the first 12 months from date of account opening, so barclays giving account opening date in most cases one month or more from date of application and backdating interest to date of application barclays are effectively extending the 1% bonus period by one month which is very beneficial because it gives everybody one month or more from start of 2008 tax year ( unless barclays isa becomes mega uncompetitive in mean time) to access best isa to transfer out to rather than having to make a rushed decision at start of 2008 tax year

Donel261

I am quite amazed at how long it is taking them to open my account, I initially opened the account with £100 and stated I would like to save £220 per month by direct debit, I stated I would like deductions to start at the end of the month I went into the branch and opened the account, however as two payments have now passed and they haven't cashed the cheque either are they going to open the account and immediately take £540 (£760) if it drags on until the end of this month? do the direct debit rules allow them to backdate payments or will they just start the deductions from the month its opened? I need to know whether I will have to top it up with the payments missed.

Why is it taking so long?